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Human ResourcesTraining and Development #2 - Essay Example
The statement 'Promise for Life' best illustrates Abbott's commitment, its belief and values and what it does to deliver the promise to its customers, shareholders and all its stakeholders. Improving life by providing cost effective health care products and services is the ultimate mission of Abbott…
SWOT Analysis is an effective tool in identifying the internal strengths and weaknesses and the external opportunities and threats. It helps to develop a plan of action to concentrate on weaknesses and threats and get maximum advantage from the strengths and opportunities it has.
The strengths of Abbott Labs are: its great history of innovation, its wide range of products, the great respect it commands in market ratings, and finally its expanding geographical reach opening up new opportunities. These are certainly its strengths to build on.
Its overdependence on the anti-bacterial Biaxin and the anti-epileptic Depakote is could be a major weakness for Abbott. Both these products contribute substantially to the company revenues and profits. The challenge for Abbott is to minimize the decline of sale of these two.
Abbott has been doing it bests in exploring new opportunities and keeping its position of strength. The new agreements and acquisitions it has had with Knoll Pharmaceuticals, Vysis Inc, and Biocompatible will help expand its product range and its pipeline. The company signed a
The price regulation of prescription drugs in various markets by peers and government agencies, strong competition from generic manufacturers, and the expiring patent protection are the major threats Abbott is facing.
"Abbott Laboratories' 'Position of Strength' ...