Financial Statement Analysis for Glaxosmithkline Bangladesh Limited

The company's vision is: Through all of our products, services and relationships, we will add to life's enjoyment.

Ideally, a good mission statement also provides information regarding the organization’s overall management philosophy, its business model, its technical and social competencies, and its values and beliefs (Aguinis, 2009; Azaddin, 2011; Bart & Hupfer, 2004; Covin, Slevin, & Schultz, 1994). Moreover, to make mission statements of large companies more individually relevant, Azaddin (2011) advocates flexible “guiding statements” that account for the “context, culture, structure, and needs of an organization” (p. 31). Thus, a mission statement must be meaningful and applicable to all stakeholders for strategic decision-making to be effective.

• To live every day for the betterment of my life and the lives of those around me.

A firm’s operation function entails getting activities and things done such as the production of goods and customer services. After considering services and products demanded by buyers, the organization’s weaknesses and strengths, and the weaknesses and strengths of the competitors, proficient corporations should formulate their vision and express it in the mission statements. Lenscrafters has a mission statement that outlines their strengths and future projections. In the mission statement, the enterprise identifies that it aims to maintain the loyalty of its customers, design quality eyewear, deliver value to the buyers’ requirements, and motivate the personnel to institute the globe’s best job environment (Lenscrafters Case Study, 2015).

Our purpose statement instills the perception of the high moral values and hard work of our department as well as our strive for perfection and extreme customer satisfaction.

The mission statement is the vision of the founder. A man who recognized the glaring holes in the food market industry, and filled them with his passion to make food shopping a customer orientated experience.

Respect the individual, provide the best service to their customers, strive for excellence, and exceed customer expectations. Their corporate mission focuses on a global growth strategy through concentrated integration. The company continues to expand its

Mission statement: “ To be a leader in merchandising and distribution of food, personal care items, pharmacy, seasonal merchandise and related products & services."

“Our mission statement is simple: to partner with you and your business as an asset that provides quality, reliable products rather than a liability that creates headaches, tension and division. We pledge to focus on the smallest of details on our end so that we can provide to you a product and service that will allow you to focus on your own smallest of details.”

Group President, Worldwide Biopharmaceuticals Businesses, 2006-2010 Led commercial businesses in Europe, Canada, Latin America, Africa and Middle East Regions, 2000-2006 Led Latin America and Canada

Vision Statement: We want to create value for our customers so as to enable them achieve their vision.

“GlaxoSmithKline (GSK) is a global healthcare company specialized in the discovery, development, manufacturing and marketing pharmaceutical and consumer health-related products. GSK has operations in about 114 countries, with products being sold in over 150 countries”.

GSK is the 2nd largest pharmaceutical firm in the world, and the largest in the UK by sales and profits, it is responsible for 7% of the worlds pharmaceutical market, and has its stocks listed both in UK and US (O 'Rourke, 2002). The origin of the so called blockbuster model, is partly linked with Glaxo (as it was previously known). In the early 80’s, then Glaxo brought to light their first blockbuster drug, Zantac, which was an anti-ulcer drug, which was very similar to the a pre existing drug Tagamet (first ever blockbuster) sold by Smith Kline & French, their completion at the time (MONTALBAN and SAKINÇ, 2011). The introduction of this drug, brought about an increasing sales force in the US, the company soon became dependent on the drug, because it represented a large part of their profit. In 2002, 8 blockbusters of GSK contributed to $14.240 million sales revenue, taking up 53% of its total ethical sales (Froud et al 2006). However, due to the nature of the pharmaceutical industry, the patent began to expire, in other to avoid the patent cliff, Glaxo merged with Wellcome in 1995, which ensured a growing number of sales force, and with Beecham in 2000 (Froud et al., 2006) this merger, boosted the confidence of investors, by growing the business inorganically. For Big Pharma, this block buster model is very profitable, because with the high cost of R&D, the drugs are able to generate ample profit, to cover the sunk costs

"Everything we do is inspired by our enduring mission: * To Refresh the World... in body, mind, and spirit. * To Inspire Moments of Optimism... through our brands and our actions. * To Create Value and Make a Difference... everywhere we engage."

This is a strategic analysis of GlaxoSmithKline that examines the key factors that influence the company and its activities. The strategic analysis will examine key factors in the company’s internal and external environment and their influence on the company’s strategies. GlaxoSmithKline is a global healthcare company that offers pharmaceutical, vaccines and consumer products. The company is a product of various mergers, the latest occurring in 2001 between GlaxoWellcome and SmithKline Beecham. The company started in London United Kingdom in 1715 as Plough Court pharmacy and has evolved to become one of the leading global healthcare companies. The healthcare company operates in more than 150 countries with 89 manufacturing locations and research centers in the USA, China, UK and Belgium. In 2015, the company’s sales grew to £23.9 billion from £23.0 billion in 2014 (GlaxoSmithKline plc. 2015).