The paper "Performance of Two Firms: Eli Lilly & Pfizer" is a wonderful example of a case study on management. Eli Lilly is a firm that thrives on its ability to make people live long lives through provision first-in-class pharmaceutical products at the market. The firm endeavors in discovering, developing, and marketing pharmaceutical therapies. Eli Lilly has continued to succeed where other pharmaceutical firms have failed because of the sound strategies they employ at the market. On the other hand, Pfizer thrives on its innovation in medicine which continues to be a fundamental cornerstone of the firm (Hill & Jones, 2011).
Since its establishment, Pfizer has believed in business innovations in making healthcare products more affordable and easily accessible. Sustainability of firms from the perspective of key stakeholders Sustainability in businesses is meant to implement practices that support and enhance economic safety, social wellbeing, and environmental protection as they work hard improved performance. To achieve this, the two firms, that is Eli Lilly and Pfizer formulate a sustainable business strategy in the pharmaceutical industry which is enclosed in sustainability reports. Sustainable development for these firms entails three components, namely, environmental protection, social equity, and economic prosperity, form the basis for a reporting paradigm called the triple bottom line (TBL).
The TBL approach is intended to help companies integrate the three components of sustainable development into core operations and to translate sustainability theory management practice. Sustainability has been vital in the decision-making processes for firms in the pharmaceutical industry. The focus of sustainable development has entirely been made compatible with the hotel goals and decisions of the business itself like in the creation of long-term shareholder value.
In fact, proponents on Eli Lilly’ s sustainability contend that the TBL approach is merely an extension of the scope and timeline over which a shareholder’ s interests are assessed on strategic decisions reached upon (Hill & Jones, 2011). In Pfizer, the sustainability chair has been utilized in pursuing and developing policies and decisions that help satisfy the firm’ s impact on goals and achievements.
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