starategic management report on GSK

1. Part 1
Section 1. Introduction
GlaxoSmithKline plc (GSK) is a leading multinational; healthcare company operating in
Bangladesh for years. It concentrates on the development, manufacturing and commercialization
of Pharmaceutical and consumer health related products. The company was oriented as Joseph
Nathan & Company in New Zealand with the founding of a small import export company. It
started its operation as a processing unit of abundant fresh milk of New Zealand. The only
product it was producing was Glaxo Baby Food.
History of GSK, Products of GSK and GlaxoSmithKline (GSK) Bangladesh Limited:
This report is fulfilled and supported by GlaxoSmithKline (GSK) Bangladesh Limited. It is a
world’s leading research-based pharmaceutical company with a powerful combination of skills
and resources that provides a platform for delivering strong growth in today’s rapidly changing
healthcare environment. It is the only British organization in the world’s top 20 pharmaceutical
companies. Subsidiary companies are established over 50 countries of the world many with their
own manufacturing facilities and the group have agency representation in more than 100 offices.
GSK has leadership in four major therapeutic areas- anti invectives, central nervous system
(CNS) and respiratory & gastro- intestinal Metabolic. In addition it is a leader in the important
areas of vaccines and has growing portfolio of oncology products.
GlaxoSmithKline in Time
➢Every second, more than 30 doses of vaccines are distributed by GSK.
➢ Every minute, more than 1,100 prescriptions are written for GSK and every hour, GSK spends
more than US $ 450,000 to find new products.

2. Section 2. Internal Environment
Work Environment
GSK aims to create an inclusive, engaging working environment that encourages its employees
to contribute and help the company achieve its strategic business objectives. GSK realizes that
the key to this is its investment in development, its approach to flexible working and its
innovative safety, health and well-being programs. In GSK corporate office, each floor is
designed spaciously to represent a flat organization. Both the floors are decorated with themes
such as human health, women empowerment, medical doctors’ prescriptions, children and
mothers’ nutrition which are in line with the company’s vision to make people do better, feel
better and live longer. These themes keep the employees motivated and focused towards the goal
of the company. There are Tea-rooms installed in each floor for refreshment. Every day one-hour
lunch break is provided to all the employees and the interns. The workday starts from 9 AM in
the morning and ends at 5:30 PM. However, many employees come to the office late but
everyone makes sure that they are done with each day’s work on time. In addition, the work
environment is especially worth appreciation due to its structured work process that encourages
learning, gaining experience and knowledge every day. GlaxoSmithKline aims to be the leading
research-based pharmaceutical and healthcare company by improving the quality of human life
and enabling people to do more, feel better and live longer. As an organization,
GlaxoSmithKline is known for its responsible business operation which aims to create shared
value for all its stakeholders. As an organization, it believes that in order for the company to
succeed the communities that it operates in must also equally prosper. The Company’s
philosophy of Corporate Governance is aimed at assisting the management of the Company in
the efficient conduct of its business and in meeting its obligations to stakeholders, and is guided

3. by a strong emphasis on transparency, accountability and integrity. For several years, the
Company has adopted a codified Corporate Governance Charter, which is in line with the best
practice, as well as meets all the relevant legal and regulatory requirements. All employees are
bound by Codes of Conduct that sets forth the Company’s policies on all important issues. A
good example is the internal audit report prepared by the GSK internal auditor team. From the
internal audit report for the first two quarters of the year, there were 46 errors made by the
Secretarial Department. The Finance Director and Company Secretary asked for an answer from
the Secretarial team for these mistakes and gave proper instructions so that the same mistakes do
not reoccur.
Internal Resources:
The tangible capacities holding GSK are capacities to combine and obtain firms of similar
industry. GSK has accomplished Information framework administration limit by procured
through vertical incorporation with programming arrangements association. GSK can incorporate
the useful capacities to frame the value chain. The intangible resources and abilities that give
GSK competitive advantage like brand image, goodwill of the organization and relationship with
public.
Section 3. External Environment Analysis
Industry Analysis
GlaxoSmithKline (GSK) is a multinational healthcare company that has been performing its
operations in Bangladesh through imports even before the independence of the country. Today
GSK has its own operation facilities in Bangladesh (GSK, 2016). GSK is one of the biggest firms
in the pharmaceutical industry which manufactures medicines, vaccines and other consumer
healthcare products. The pharmaceutical industry is one of the largest manufacturing industries

4. of Bangladesh with about 231 companies operating in it. The domestic companies have a
stronger position in the market than the multinationals. About 90 % of the market share is
capture by domestic firms and the rest 10 % are multinationals. Sqaure has been announced as
the market leader in 2014 with a market share of 18.7 %, Incepta Pharma and Beximco are the
market challengers holding 10.42 % and 8.47 % of market share respectively. The top 31
companies in the domestic segment hold 94.1 % of market share. And the rest 169 companies
hold 5.9 % of the market share. (Market Insight: How the Bangladesh Pharmaceutical Sector is
Performing in 2015, 2015). Considering sales, the MNCs fall behind domestic companies.
Amongst the MNCs, Sanofi Bangladesh holds the majority of the market share, the second largest
market share holder is Novo Nordisk and on third in the list, it is GlaxoSmithKline. Even though data
shows that compared to domestic companies, they are holding less of the market share but their market
growth rates in Bangladesh are remarkable and the market size is worth billions of BDT ( Market Insight:
How the Bangladesh Pharmaceutical Sector is Performing in 2015, 2015). Furthermore, the industry can
be classified into two groups. First one, being the Patent medicines and second one being the Generic
medicines. Patent medicines are those that are patented and protected by the law by the company that
develops it whereas Generic medicines are those that are not patented and massively produced. These
medicines are exported abroad which contributes positively towards the country’s GDP. The Drug Act
1940 allows the local companies to be dominant in the market by restricting imported medicines.
Moreover, the pharmaceutical industry is flourishing in Bangladesh due rise consumer spending in
healthcare sector, rise in their income, rise in the number of private hospitals, and because of government
support. It is one of the biggest sectors in Bangladesh currently (Bangladesh-Pharmaceutical,
2016).

5. Porter’s Five Forces
Threat of New Entrants:
Threat of new entrants is low. The industry has high entry barriers. Currently the industry is in a position
where there are already established firms. Companies like Beximco, Square, Renata, ACI and other
Multinationals like GSK and Sanofi already have a established business in Bangladesh and are achieving
economies of scale because of their vast business sizes. The initial set up cost are high in this industry,
also established firms have secured their distribution channels such as hospitals and pharmacies. This
would discourage potential entrants to emerge into the pharmaceuticals industry. Secondly, there are strict
rules that companies need to abide by for entering this industry. The Directorate General of Drug
Administration regulates the distribution channel, raw materials, sale, prices, import and export,
registration, licensing and other significant factors regarding pharmaceuticals. Strict regulation is
maintained in the industry because of the nature of the product. This makes entry barrier higher and
therefore depicts that threat of new entrants is low in the industry (Pharmaceutical Industry of
Bangladesh, 2016).
Threat of Competition:
Competition is intense in the pharmaceutical industry. The market is dominated by a few companies.
Local companies like Square and Beximco and also MNCs like GlaxoSmithKline itself and Sanofi S.A.
are also operating in the Bangladeshi pharmaceutical industry. These companies already are continuously
spending on research and development in order to make improvements and progress. Innovation is the
key to be profitable in this industry. Hence, competition tends to be fierce.
Bargaining Power of Suppliers:
The fragmentation of suppliers in the industry depicts that bargaining power of supplier is low. For
companies operating in Bangladesh, the suppliers of raw materials are from Japan, UK, France , China ,
Denmark , Italy and other foreign countries. Raw materials such as Active Pharmaceutical Ingredient

6. (API) are imported from foreign countries. These suppliers of raw materials depend particularly on
pharmaceutical companies for the sales of their chemicals and ingredients. Moreover, they are scattered
all over the world which reduces their dominance of pharmaceutical companies. Therefore, bargaining
power of suppliers tend to be low. (Bangladesh Pharmaceutical Industry, 2014)
Threat of Substitutes:
Threat of Substitutes is low in this industry. Healthcare products do not really have close substitutes. If
we consider particular products, then Herbal treatment or homeopathic can be considered as the closest
substitutes. However they are not strong enough to compete with drugs produced by pharmaceutical
companies. Moreover, pharmaceutical products can be considered as a necessity and therefore threat of
emergence of substitutes is very low.
Bargaining Power of Buyers:
The pharmaceutical industry has a lot of buyers. Starting from children to adults, everyone is a potential
consumer of healthcare products. A consumer is bound to buy medicines, vaccines or any healthcare
product that is prescribed by doctors. Pharmaceutical companies are very well aware of that, and they
often provide incentives to clinics, hospitals, doctors, and other practitioners to promote their products. If
any healthcare product is prescribed by a these groups of people, a consumer will have to buy it.
Consumers cannot switch easily to other medicines or healthcare products because they usually lack
knowledge about medications and drugs and depend on the practitioners to prescribe them with suitable
ones. Also, prices of healthcare products are same everywhere, they cannot claim for price reductions in
most cases. These factors contribute towards making the bargaining power of buyers low. (Bangladesh
Pharmaceutical Industry, 2014)
Industry Life Cycle Analysis:
Lacks of spending power of the population cause the pharmaceutical sector of Bangladesh remain small
comparatively its population and to other sectors. The government investment is also low. Healthcare

7. expenditures consist of only 3.4% of GDP. Nevertheless,the increased awareness is causing this sector to
grow rapidly as a result the investment is also in the inclined state toward this sector. In Bangladesh the
demand for “wellness” drugs such as vitamins and minerals are increasing gradually and the future
growth of the sector lies in it.
Please refer to Figure 1 in the Appendix
Surprisingly, the pharmaceutical sector is widely regarded as a “hi-tech” industry and it is one of
most promising sector to grow large in future.
Market research done by IMS, a US-based research firm shows:
• 250 companies are operating in the market.
• Retail market size is estimated to be around BDT 55 billion
• The market size in 2008 was BDT 47 billion with a growth of 6.9%.
• One of the fastest growing sectors with an annual average growth rate consistently in the
double digits
• Bangladesh’s pharmaceutical industry contributes almost 1% of GDP.
• It is the third largest tax paying industry in the country
Please Refer to Table 2 in the Appendix
The economy will see an uptrend in healthcare expenditure because of the growing health
consciousness and the increased demand for “wellness” drugs as well as government
expenditure. The statistics and the figures of investments crystallize the growth potential of the
market in fact it is in the growth stage according many research firms. In terms of
GlaxoSmithKline the annual report shows it is in the growth stage. A recent article in Daily Star
was published named “GSK looks to fortify its Bangladesh presence” where Ramil Burden, vice

8. president of GlaxoSmithKline, says the company is reviewing manufacturing strategy and also
currently reviewing its long-term strategy for Bangladesh. He also added “We are looking at the
next five to ten years to find out what kind of company we want to be here and the kind of
investment we want to make in the country.”“This is a very strong signal of how positive we are
about Bangladesh,” Burden told The Daily Star in an interview in March 29, 2015.Since 1967,
the company has been producing drugs in its factory in Chittagong and investing over £1million
a year to upgrade the facilities. “We will continue to invest in innovation in Bangladesh in line
with the company policy, which ploughs about £4 billion a year into innovation, research and
development.”GSK will also invest so people have increased access to these innovations, he said.
In Bangladesh, GSK has a 30 percent market share in the respiratory disease-related drugs
segment and 3 percent in the overall pharmaceutical market. About the country's investment
climate, the British national, who leads GSK's operations in Bangladesh, Myanmar, Cambodia,
Laos and Papua New Guinea, said it could have been better if there was some political stability.
His statement revealed that some countries have currency fluctuation risks, whereas some have
political risks and other problems. Burden also said the investors must have a long-term view as
one cannot make long-term investment decisions based on some short-term currency or political
problems. The article and other reports gives signal that the British pharmaceuticals giant
GlaxoSmithKline is in growth stage and it will continue to grow. It focuses to strengthen its
presence in Bangladesh to ensure better and wider access to healthcare for the country's
population. This means that drug and nondrug healthcare expenditure will increase at about the
same pace and it will grow far more in near future.
Analysis of the Macro Environment (PESTLE Analysis)
GlaxoSmithKline (GSK) is a leading multinational healthcare company operating in Bangladesh

9. for years. GSK aims at offering high quality medicines and vaccines to increase the quality of
human life around the world. Pestle analysis commonly referred to the pest analysis is an
understandable concept in marketing principles where a company can be able to track the
environment of operation or plan on how to launch new products or services. PESTLE simply
stands for; Political, Economic, Social, Technological, Legal and Environmental factors that aid
scan the business world. Thus, to progress in the pharmaceutical industry is a brilliant idea to
come up with a Pestle analysis. Let us see the PESTLE analysis to monitor the macro
environmental factors that can have a big impact on GSK.
Political
There is now growing political focus and pressure on healthcare authorities across the world.
GSK is currently reviewing its long-term strategy for Bangladesh. The political party in charge is
threatening to impose more precise pricing strategy for all the pharmaceutical companies, which
can be a problem for GSK for their long term investment plans. Introducing new taxes after the
Budget every year is also hampering GSK to operate conveniently. GSK has their own marketing
strategy to compete with their competitors in Bangladesh. Political decisions taken by the govt.
will hamper their own strategies. Economic Bangladesh spends a very small proportion of its
GDP on healthcare (only 0.8% ). This has stunted the demand and therefore the growth of the
industry as well as for GLAXOSMITHKLINE. The per capita income of an average Bangladeshi
is almost 1466 dollar so a middle class Bangladeshi resident will only visit the doctor when it is
emergency. This has led to a non-standardized medication practice. The different taxes such as
Custom duty, service tax, profession tax, license fees, royalty, pollution clearance tax, hazardous
substances license, income tax, stamp duty and a host of other charges to be paid. The reduction
in consumer disposable income will have an impact on our country that is using health insurance

10. models particularly where part payment is required. Global economic crisis might also make the
consumers to spend less on health care. Reduction in Pharmacy growth will increase the pressure
from shareholders of GLAXOSMITHKLINE.
Social /Culture Changes in social lifestyles of Bangladeshi people will affect GSK to change
their marketing plans in Bangladesh. Poverty and malnutrition causes diseases like malaria, TB
and other die seas. Poverty and malnutrition has posed a number of threats to GSK. Rural people
who believe in ojhas, fraud doctors are getting medication from them. Increasing age of the
population is likely to affect the market of GlaxoSmithKline. Even the obesity, smoking
cigarettes, poor sanitation, drinking has threatened the pharmaceutical industry.
Technological
Technological advancements will create new business prospects for GlaxoSmithKline both in
terms of new therapy systems and service provisions. More people have become well versed
with the medication. Technology can bring people closer as well as it can create distance.
Technological advancement can create a scope for the patients to directly meet the doctor.
Computerization has increased the efficiency for the pharmaceutical companies as well as
GlaxoSmithKline. New machines and new technologies are being used to increase the
production. GlaxoSmithKline can use their Social Media platforms for Healthcare. Customized
Treatments. New medicines or new products can be displayed directly using technologies.
Legislation
The pharmaceutical industry in Bangladesh has many regulatory and legislative restrictions.
Directorate General of Drug Administration (DGDA) is the organization entrusted with the
responsibility of ensuring the quality, efficacy and safety of pharmaceutical products though the

11. implementation of relevant legislation in Bangladesh. There is also a growing culture of
litigation in many countries. Internet is also stretching the legislative boundaries with patient’s
demanding more rights in their healthcare programs. Different laws regarding the different
medicines within the country affects GlaxoSmithKline. New advertising law in Bangladesh can
affect the whole marketing campaign of GlaxoSmithKline. Different trade rules for export and
import also needs to be measured.
Environmental
There is a growing environmental agenda and the key stake holders are now becoming more
aware of the need for businesses to be more proactive in this field. Global awareness is
increasing day by day so GlaxoSmithKline needs to focus on their ecological factors and also
needs to improvise them in a profitable company. GlaxoSmithKline needs to find out the link
between their marketing strategy and the environmental issues.
Section 4. SWOT Analysis
GSK is a brand entrusted by people all over the world. GSK put a lot of effort by through large
investments in research and development (R&D). GSK's most sold products are based on
nervous system therapies, respiratory drugs, antiviral therapies and vaccines. It has an excellent
range of drugs such as epilepsy treatment Lamictal, antidepressant Paxil, herpes treatment
Valtrex, migraine therapy Imitrex, asthma medication Advair, and antibiotic Augmentin. Also
company has products for dental care Aquafresh and Sensodyne, and smoking-cessation products
NicoDerm and Nicorette. (Hoovers 2009) GSK brands are popular all over the world . Such
brands include Aquafresh, Sensodyne or Nicorette, which have been established as brands
providing superior quality. GSK is very involved in R&D for such concerned diseases as AIDS,
HIV, TB, and Malaria. GSK is already doing a lot to help those with HIV in developing

12. countries, including funding research into drugs for children. GSK announced plans to invest $97
million over 10 years "to improve research, development and access to AIDS drugs in Africa.
The vast resources and funds available to the company enable it to employ a strong sales and
marketing team. The strong sales and marketing infrastructure of GlaxoSmithKline positions it to
be the marketing choice for customers. This is on the back of vigorous marketing and public
relations campaigns undertaken by the company through print and tele-visual media. Apart from
being one of the world’s top 5 pharmaceutical companies, it is also UK’s biggest funder and
investor in research and development. It has dominated the chemistry industry through efficient
resource utilization and manufacturing. It has over 97000 employees who effectively focus on
and explore new markets. Consequently, this has continued to play as a major strength for the
company, especially after the criminal charges faced in the USA, through which it has embarked
on sales, marketing and public relations efforts.
Weaknesses:
As any other company in the world, no matter how big and powerful it is, GSK as well has a
weakness side. One of the biggest weaknesses is that most of the dugs patents are running out
and it will expire sooner or later, it means that then other companies will be able to take the
patients and sell drugs cheaper, which would lead to another weakness - a huge loss in revenue.
And it is clear that a shortage in revenue will affect harmfully the R&D, which is the most
important thing for this company's future success and leadership in the world. Already there are
12 patents that are expired and during next 5 years there will be 10 more. Therefore occurs a
demand for new drugs. Finding new drugs is one more weakness, since it requires a lot of

13. investment and research which not always lead to success and mostly to wastage. Increased
productivity leads to numerous cases of expired bulk-buster products. Issues of safety
of drugs used by customers raise controversies for the company’s image. Research and
development strategies may also fail to deliver the required expectation. These are no different
problems that the company has had to battle through the years. Owing to the mass production it
engages in, the company has, time and again had to call back some of the products due to
quality, quantity or even expiry date issues. This has served a major blow to the company’s
efforts by denting its record and public image.
Opportunity:
GSK as a multinational company as Opportunity for expands its investment and has potential
growth in Bangladeshi market. Expanding the company’s product line to meet a broader range of
customer needs, this will generate more profit for the company eventually this will help them to
grow and expand even further also there is another an untapped marketing for vaccines if they
are able to grab that market they will be much more ahead than their competitors as the market is
significantly large and growing where proper utilization of vaccines may result in higher profit.
Most importantly in Bangladesh, GSK can get labors at a very cheap cost this reduces their
operation cost and raises the margin of profit also a strategic agreements with other
pharmaceutical companies and organizations to boost its research.
Threats:
Rising cost of raw materials has been as issue as this is constantly increasing the cost of
producing the medicines which ultimately increases the price level, which is charged on the
consumers. On the other hand as they are trying to bring new products as well some of them are
not successful as a result they incur loss in research and development and the time required along

14. with the resources put in that product. Regulatory environment is becoming more & more
stringent which falls under the rules and regulation set up by the government agencies along with
increase in labor cost resulting in push the cost furthermore which reduces the producer surplus
however since the nature of the product is inelastic consumer end up paying more so overall
profitability will falls.
Section 5. Defining The Business
GlaxoSmithKline Plc (GSK) is a British pharmaceutical company that defines its business as
providing Biotechnology, Pharmaceutical and Consumer goods. Mainly they deal with two types
of products.
 Pharmaceutical goods such as: drugs, medicines and vaccines
 Consumer goods such as: pain relief medicines, respiratory drugs ,oral health, nutrition
and skin health products.
Who is being satisfied: As GlaxoSmithKline is a pharmaceutical company the pharmacy stores
and the general public are the consumers of this company.
What is being satisfied: Customers needs is being is satisfied by the company. Safe and effective
drugs and devices is the need of the customers. GlaxoSmithKline is providing their needs
completely.
How customers needs is being satisfied: Customers needs are satisfied through distinctive
competencies in technology, performance and providing better quality goods.
Section 6. Distinctive Competencies
Firstly, GlaxoSmithKline is one of the leading company in pharmaceutical industry because of
its workforce, manufacturing process and better performance. Besides that, GSK has better

15. technology, superior quality, incredible performance.. Moreover, GSK has efficient, capable,
honest workforce and relative to their rivals. Besides all those GSK has its very well established
brand image. It is the oldest pharmaceutical company. GSK is certainly the most commonly
known the pharmaceutical companies in Bangladesh.
Section 7. Summary Analysis of Financial Performance:
The company increased their properties and plants over the past two years and reduced their
intangible assets. By looking at the company notes, we can find out that they have reduced the
use of computer softwares that costs them more money and have increased acquisition. They
reduced their holding inventory, which will help them reduce cost in the long term. Overall, they
have increased that assets that they have which will catalyze them to earn more in the future.
Administrative expenses have increased by 7.9%. Distribution expenses increased by 6.8%.
Selling expenses increased by 6.6%. Cost of Sales went down by 9.2% which signifies
efficiency. The production quantity also increased that led to economies of scale, which can be
the main reason behind the decrease of cost of sales. Revenues went up by 2.3%. Not a drastic
rise adjusted to the inflation rate, but given the decrease in the cost of sales, it is an improvement.
The company didn’t issue more ordinary shares, thus they do not have an increased capital.
Cash flow from operating activities have decreased, but it increased from the investing activities.
Net Profit of the company increased by 5.67% from 2014 to 2015.

16. Figure 3: Financial Statement

17. Section 8. Competitive Advantages of GSK
With regards to gaining competitive advantage, one of the greatest quality of GSK is that it has
earned an amazing overall brand image, on which individuals trust and place a ton of cash in.
A gigantic measure of investments in innovative work (R&D) puts GSK as one of the topmost
organization in its industry. Strong sales and marketing force with strong foundation helps the
organization flourish the market locally and globally. GSK positioned on the world's top 5 of
pharmaceutical organizations with employees more than 97000.
Capabilities and Requirements:
In terms of tangible resources:
GSK has an enormous measure of manufacturing space, research equipment, and related
laboratories to foster innovation. They have related patents with those assets and self-owned
facilities everywhere on the planet.
Competencies of tangible resources:
They have a simplified operating model, and they manage the whole company by dividing it to
smaller division which ensure fast decision making. They maintain their own R&D and effective
design of value chain also supports their manufacturing in low cost strategy.
In terms of financial resource:
The British pharmaceutical giant holds huge cash flow; their R&D budgets are close to a
developing country’s national budget scheme.

18. Competencies of financial resources:
Cost control through manufacturing in low cost location like Bangladesh also dividing the
organization in to smaller divisions helps cost cutting in massive quantity.
In terms of human resource:
Expert personnel with top microbiologists, biochemist and superior management team with huge
number of sales force helps serve millions of GSK’s loyal customers every day.
Competencies in human resource:
Training of general management skills, sales, and marketing and innovation skills helps people at
GSK to work efficiently and effectively.
Figure 4

19. Section 9. Business Model
Please Referto Figure 5 of the Appendix
The adopted business model of GSK has been highly successful in Bangladesh. This initiative is
designed to dominate emerging pharmaceutical market of Bangladesh. Their mission pushes the
idea to create a significant difference to the lives of millions of people in this country. They are
committed to bring the latest innovations in pharmaceuticals and healthcare solutions, both from
parent company as well as through licensing opportunities. GSK Bangladesh team of medical
experts is backed by a best-in-class field who ensure that GSK products are available across the
country. As pioneers in innovative healthcare, they also have the responsibility to generate value
for all their stakeholders. So their initiatives at GSK often become a milestone to attain profitable
and sustainable performance. GSK follows a simple yet effective business model in Bangladesh.
Their core capabilities are helping them to attain maximum market share. They are committed to
produce the best quality product in order to maintain competitive advantage. GSK has a huge
product line for pharmaceuticals, consumer goods and healthcare solutions.
Over the year GSK achieved a reputation of partnering with private and government NGOs
where they helped millions of lives. They have the value proposition of developing broad range
of innovative products through research to change many lives. Their aim is to build a strong
infrastructure and to serve both urban and rural community by enhancing awareness on health
and nutrition in these markets, thereby building a more sustainable business. As per the plan they
reached both urban and rural areas through their existing direct distribution network. They
ensured a fluent communication with the retailers so that their customers receive their products.
As told before GSK Bangladesh has huge product line. They have product in most of sections
like oral health, skin care, consumer goods and nutrition. So they have the key to target

20. maximum people in urban and rural areas. Through different products and their attributes GSK
managed to gain enormous popularity in Bangladesh.

21. Part 2
Section 10. Recommendations
The quality of production for GSK is top notch and they have earned a global reputation. Thus
they do not need to spend too much on advertisement and marketing. Even though advertising
for medicinal products are banned in Bangladesh, they use a lot of push strategies, where they
can reduce the costs.
When it comes to push strategies, they do not need to use the conventional way. They can test
some different techniques in the pushing strategies, and do some A/B Split testing. Whichever
gives a better score in the key performance indicator (KPI), will be chosen as a final and long
term push strategy.
Another strategy that they can use is Public Relation. Pharmaceutical companies who depend on
public relations get a better goodwill in the mind of the consumers. GSK tried a lot of CSR
activities with the products like Horlicks and sponsored different events that gave them edge
over the competitors.
SLA: Service Level Agreement. They can create good relationship with pharmacies and doctors
who will push their products to the related consumers. They can create a contract or an
agreement which will make the agents to push and help create positive mindset about the
products.
To create a competitive advantage over the competitors, they cannot possibly compete with the
pricing. Here is an example. The paracetamol medicine known as Panadol from GSK and Napa
from Beximco group are both running smoothly in the market. However when it comes to

22. comparing the prices, a tablet of Napa costs Tk. 1.5 while one tablet of Panadol costs Tk. 12.
There is no way GSK is come near and compete with Beximco or Square and Acme. However,
they can add some innovative values to the product. For example, in Saudi Arabia and the other
Gulf countries, GSK sells Panadol which has a unique feature. It is known asthPanadolActiFast.
Their job is to relieve the pain of the consumer within 5 minutes. It has been doing great and is
providing the promised service. Even though, in a third world country like Bangladesh, it is
difficult to sell a medicine which is almost 7 times more than the competitor, such unique feature
can easily mitigate the threat.
The weakness of GSK is that most of the drug patents are running out and soon they will not
have the competitive advantage like they have right now. However, given the size of the
company and the global scale they operate in, they renew the patents. They have the capacity and
the infrastructure to fund a new set of team for R&D, which will give them unique patent worthy
products that will bring them back to the driving seats.
Some of the products are either matured or in the decline phase. Even though the product life
cycle in this industry is large in contrast to other industries, however, when they are funding
some new research, they better make sure that the products that come out will have longer life
cycle.
By looking at the previous year’s sales and profit, this is safe to assume that GSK Bangladesh
have enough funding for a smooth run-way for the next 5 years. On top of that, they have a good
backup from the mother company which is based in Brentford, United Kingdom.

23. Section 11. Corporate Level Strategies:
GlaxoSmithKline (GSK) Bangladesh Limited started in Bangladesh by establishing a small
manufacturing unit at Chittagong in 1967, before that it was an importer in Chittagong called
Glaxo. The company has a couple of mergers and acquisitions followed by changes in the
company name, starting from Glaxo, to Glaxo Welcome Bangladesh Ltd and finally becoming
GlaxoSmithKline after merging with SmithKline company in the year 2000 (Abir,2016). These
are some of the corporate strategies that GSK acted upon previously. The last merger has enabled
the company to enrich itself and make advancements in health care solutions.
An interview report on the online newspaper, The Daily Star , states that the Vice President of
GSK , Ramil Burden that he expects to invest in Bangladesh and get high returns from here in
the next 5-10 years. He further clarified his statement by saying that he will invest in innovation.
He also stated the problem of not having enough qualified front-line workers in Bangladesh
(Rahman, 2015). Considering his statement, the following corporate strategies can be
implemented:
Strategic Alliances:
Strategic alliances with centers that provide and train Bangladeshi Frontline health workers can
help GSK get qualified worker and strengthen its human resource management system. For
example, GSK could form an alliance through contract with Bangladesh Center for
Communication Programs (BCCP), which a center that organizes 3 year long projects like ‘The
Bangladesh Knowledge Management Initiative (BKMI) in order to train interested field workers
in healthcare activities. Such a step will help GSK get access to trained workers. Not only that ,

24. GSK can address requirements it wants for trainees to become a part of GSK’s human resource
team (Bangladesh, 2017).
Outsourcing Strategy:
GSK can outsource its marketing activities. In order to do so, GSK can create an alliance with
the telecommunication industry as it is growing and many operators have section telemedicine
consultation through mobile internet and other mediums so to outsource its product promotions
strategy and to earn more profit GSK can ally with telecom sector of Bangladesh.
Expansion Strategy:
GSK needs to create more expansion to grab more market gradually increase more profit. For
example, their alliance with Dr. Reddy’s drugs (FDI, 2009) contracted to sell more than 100
medicines in Africa, the Middle East, Asia-Pacific and Latin America. In order to have access to
potential customer segments, the business can further expand its operations overseas. By doing
so, it will have the ability to earn more profits.
Section 12. Business Level Strategies:
GlaxoSmithKline (GSK) is a healthcare product company that has been targeting the mass
market of Bangladesh by providing different categories of healthcare products. Their products
include not only medicines and vaccines but also baby products, skin care products, nutrition and
oral care products. Therefore, the company’s customer group in Bangladesh is vast starting from
children and beauty conscious to health conscious people. Different categories of products are
targeted towards different group of customers. This suggests that the company is operating on
the basis of segmentation strategy by providing products to different segments (Abir, 2014)

25. This segmentation strategy is clearly adopted through a verge of differentiation. To be precise,
the company is following a broad differentiation strategy. The company has been investing in
R&D programs in order to improve quality and differentiate itself from other companies like
Beximco, &Renata which is clearly depicted through their slogan of being committed towards
improvement of quality (Behind the Science, 2017). Hence if the company wants to formulate
business level strategies for the next 5 years, it must consider its current strategy of
differentiation.
Since GSK is focusing of on broad differentiation strategy by targeting different segments.
However, prices of the products reflect that only a small segmented group of people with
particular income levels will find it affordable. An internship report on GSK states the
company’s target market has been the upper middle class- upper class and the distribution
network is selective (Marketing strategies of Glaxosmithkline Bangladesh Limited, 2016). In the
next five years, the company can perhaps serve a non-targeted segment and strengthen its
network. The company can approach the middle class – lower middle class with affordable
products. The middle class group is growing in Bangladesh according to a report from Boston
Consultancy Group and ICEF monitor (Bangladesh: Middle class growth helping to drive
demand for study abroad, 2017). Tapping this market can be profitable. In order to tap this
market in the next five years the company needs to lower its production cost for the products
created for the middle class and lower middle class. It can do so, by taking profits from the most
profitable product category, in this case the dermatology products (Annual Report of GSK, 2015)
and invest it making products for the middle class. ‘Shakti-Doi’ –a product of GrameenDanone
Foods Ltd, which is a nutritious yoghurt sold in rural areas at lower prices can be an example for
GSK (Grameen Danone Foods Enters Dhaka Market, 2009). Producing a product as such and

26. delivering it to the middle class segment will enrich their brand value due to increase in the
customer base.
Section 13. Functional Level Strategies:
The functional level strategies are strategies used in short-term activities which each functional
area within a company undertakes in order to implement the broader, longer-term corporate level
and business level strategies. Each functional area has a number of strategy choices that interact
with and must be consistent with the overall company strategies.
The main focus is to make GSK standout in the market and GSK chooses to do it through
differentiation. The key is to focus on continuous innovation and superior quality to the
consumers. In order to match functional level strategies with business level strategies, the
company should reflect upon the following functional areas in the next five years:
Continuous Investment in R&D:GSK has constantly occupied with enormous spending on
Research and development as to build up its own particular product and patent it. This is
allowing them to bring innovation in the market which other competitors will find it difficult to
compete and such research helps to be more efficient in handling their resources, giving them the
possibilities to avoid wastage.
Production and Operation: According to the annual report of GSK, the company gains 30% of
its profits from its dermatology business. Skincare products contribute to most of the profits
earned by the company. (Annual Report of GSK, 2015). So the operations system must support
cultivating profits from one product category and invest it in the other product category. Also in
order to reach a different customer base with a lower income , the production costs need to be
brought down. Hence, the cost of production needs to be kept lower without compromising

27. quality. In order to do so, the R& D deparments activity play a vital role, since research needs to
be made and the new product must meet minimum quality requirements while being developed.
Sales & Marketing Strategy:Effective promotional strategies, GSK is trying to aware the
consumer about the product as soon as something gets cooked out of the R&D. In order to excel
it needs to do mass informative promotional activities such as TVC, AVC, and RDC. In this
method they have to do mass advertising through different media to make people aware of the
product. They can also promote their product by giving free samples or by doing some awareness
programs in important places like universities malls. A pull strategy can be used around the
manufacturer promoting their product amongst the target market to create demand. Once the
awareness among the consumers is created, they will create a demand for the product and pull it
through the distribution channel.
Skilled and Talented Staffs:With over 600 skilled employees they are doing business in
Chittagong to Dhaka competently. These resources can be used greatly for further business
growth. GSK has ability to attract, develop and retain top talent. On cost control and expanding
distributors, this is in line with focusing on the best science and the research and development
and streamlining its processes (Abir, 2014). So GSK needs to keep up motivating their staffs
with good pay and other reward for their performances.
Section 14. Technological Strategy:
Being a foreign research based company operating in Bangladesh, GSK has access to
technologies that has helped it sustain its corporate, business, and functional level strategies over
all these years. The company currently has two units that develop its technological platforms.
First one being in the Zebulon, USA, and the second one is in Barnard Castle, Scotland. The

28. Zebulon unit deals with DiffCORE Technology which GSK’s technology used for
manufacturing tablets in a hard form, whereas Barnard Castle unit has LDT (Liquid Dispensing
Technology) technology that enables GSK to manufacture medicines in liquid form. These
technological units have contributed towards innovation of GSK medicine products (GSK,
2017). In USA the company is also known to have digital adaptation to technology. It has
upgraded business to business purchasing system. Not only that , GSK also has their own ‘dial
in’ system which enables callers to get health care advise directly from GSK experts, rather than
getting it from other healthcare providers, that means, GSK no longer pays external healthcare
providers in order to speak on behalf of their products (Bulik, 2016) Such digital technology can
also be in adopted in Bangladesh in the next 5 years, where customers can have a chance to talk
to GSK experts regarding their health issue.
Also , the earlier sections suggested increasing customer base by offering products for the middle
income class. In order to aid this strategy, technology can be used to reach more customers.
Currently, GSK does not have any source through which people can contact them directly.
Anyone who wants to contact or have queries regarding GSK, needs to have access to social
media, either Facebook or Twitter. This is creates a barrier for non-social media users to have
access to GSK. In a country like Bangladesh, where infrastructure is yet to be developed,
depending on social media connection might not be a good strategy. Hence, they can update their
website or introduce a hotline number in the next five years through which more people can
reach them (GSK, 2017).
GSK previously collaborated with technological companies like Google, McLaren, Novartis,
Siemens, Barclays and a few more in order to help them with technology, innovation and R&D
functions (GlaxoSmithKline's Simple But Modern Strategy For Global Success, 2017). To

29. follow up its corporate, business and functional strategies suggested in the earlier sections for the
next 5 years GSK should continue to make maintain such collaborations.
Section 14. New Business Model (2018-2013):
 Customers: The customer base will be wider if GSK follows the corporate, business and
functional level strategies mentioned above. Currently, the company is following
segmentation strategy but not everyone can afford GSK products. By implementing the
suggested strategies, the target customer group will be diversified and increase. Not only
the upper-upper middle class but also the lower- middle class income people will be able
to buy GSK products.
 Key Partners: After remodeling and considering new strategies that have been
suggested, the key partners of GSK will be hospitals, pharmacies, and even technological
companies like Siemens and Google. The new addition to the list would be retail outlets
where lower-middle class consumers can have access to GSK products.
 Key Activities of GSK: The key activities of GSK will be similar to the previous
business model; the company focuses its existing departments.
 Key Resources: The key resources will be the R&D facilities, brand name and human
resources. The company must emphasize on its R&D, since it is a research based firm
and continuous innovation is its aim. Brand Name will be enhanced if the new corporate,
business and functional strategies are implemented successfully. Also as strategic
alliances with BCCP will lead GSK to gain more trained and skilled workforce.
 Value Propositions: The core value offered by the business will increase. The company
will have access to more distribution channels, so customers will gain through the spread

30. of knowledge and information. On top of that if the hotline and website contact procedure
system is implemented, GSK will stand out amongst the rest of competitors.
 Customer Relationship: GSK will acquire more customers if it increases its product
lines and target some non-targeted markets. Any kind of service that is provided to
customers should reflect the brand image positively so that referrals from customers can
add value to the brand name. Customers need to be retained. A lot of customers already
have a good vibe about GSK since it’s a foreign company and provides products whose
prices reflect the quality. If the company introduces more products, because of its brand
name, new customers might be interested.
 Channels: The channels of distribution must get broader in the next five years. As the
business grows, its distribution and channels to communicate with customers should also
grow simultaneously. The business will be forming contracts with telemarketers as
suggested in the business level strategy. This will help to widen the network of GSK
 Revenue Structure: Along with increased costs, the revenue structure will change too. If
the strategies are implemented successfully, GSK will earn more revenue from its newly
introduced product lines within the next 5 years.
 Cost Structure: The cost structure will change. There will be more cost added such as
the business expansion cost, the product development costs, marketing costs, operating
costs. Adding more product lines will increase the overall cost of production. Moreover,
establishing new networks of distribution will also increase costs. Moreover, the
spending on R&D will increase too.

31. Part 3
Section 15.. Governance to Support
Along with changes in the strategies of functional level, business level and corporate level in
GSK, the company’s governance system should be adapted. Firstly, as corporate strategy
strategic alliance with Bangladesh Center for Communication Programs (BCCP) was suggested.
Outsourcing of marketing activities in order to introduced telemedicine consultation was
suggested along with expansion plan. Overall a development of the human resource team had
also been suggested along with the expansion plan. Due to expansion and more functions being
involved in the company and structure will become more complex. Hence the control system
should be improvised by redefining duties and responsibilities. The corporate level managers
should set control and provide context to the business level managers and the business level
managers should do the same for functional level managers. The structure should enable proper
flow of information within GSK so that managers at all levels can work in alignment.
Moreover, since the base of human resource team will expand as well, GSK needs to govern
them through motivation. This can be done so through increasing Stock based compensation for
employees. There are bonus stock opportunities in the company, however the company has not
provided any of these bonuses to employees in the year 2016 as shown in the financial statement
of GSK for the year 2016 (Trading Code: GlaxoSmith, 2016). [Refer to Figure 6. in the
Appendix Section]. If stock options are given to employees upon meeting standards, they will
not only be motivated but also feel important and can associate themselves with the organization
better.

32. Section 16. Strategic Control
By looking at the employee behavior and the projects that have been handled, it can be suggested
that they use the set goal strategy. The organization is large and seems flat enough, thus using the
monitor system is not ideal. However if they use the set goal control system, they can make the
operations run smoothly and there will be less interruption involved. The managers or the
supervisors can only interrupt only where there is something which is not going according to
plan or there is a hiccup in the process that is hindering the production. This will make the
company more efficient and will help the company gain competitive advantage over the other
firms. The company already has a good business model, but monitoring will require extra
business hours and which will also cost the company a lot.
The board can set some goals that require achieving. These goals can be passed on to the top
level managers. The manager will create strategies and will divide the strategic input to the
divisional level managers. The divisional managers will break it down and set goals for the
functional managers who are working under each divisions. They will pass on the tasks to the
first level managers.
Section 17. Company’s Structure and Culture
GSK’s core values are patient focus, integrity, respect for people and transparency (GSK, 2016).
They expect their employees to share their values, to act transparently and with integrity at all
times. They propel their employees to put their qualities at the heart of each choice they make
through solid leadership, offering individual advancement openings and remunerating workers

33. for how they function and in addition what they accomplish. They need everybody at GSK feel
pleased with the work that they do, the organization they work for, and the distinction they make.
GSK’s Chief Executive Officer Sir Andrew Witty says in one of their article and also in their
global website that he believes “Our values, and how we conduct ourselves, should be something
that truly differentiates us."
Apart from that their specific norms, beliefs, and attitudes represent friendliness at every level.
Same goes for their controlling the people interacting with each other and with stakeholders
outside the organization
Section 18. Global Strategies
The company’s strategic goals towards globalization have already been met and
GlaxoSmithKline is already doing a great job in the global arena. If they want to thrive globally,
the board of the company has to set such goals that will affect the mother company as a whole.
Thus the goal setting control system will come to handy. The cost of Production in Bangladesh is
very less compared to other companies. The board can set goals to develop new factories in
Bangladesh which will help them export the goods out or Bangladesh.
The board along with the top level managers can monitor sales behavior with similar product that
they are selling in the neighboring countries. They can also monitor employee work behavior
with certain project, so that when they are using the same strategies abroad, they can learn from
the mistakes made in Bangladesh.

34. Section 19. Ethical Value Proposition
To
The all the Respected Hard Working Employees
GlaxoSmithKline
Memo: Ethical Values That We All Must Share in Our Organization
Being a part of a global conglomerate, GlaxoSmithKline is sure that you already possess the
values and the principles which we already expect. However there are some additional factors
which should be brought to your concern regarding Ethical Standards in the work place.
Most of you are given goals on a weekly or a monthly basis. We know that some of these goals
are very difficult of achieve as an individual, however, we have the faith in your ability and we
know that you will not sub-contract your work to someone else.
We in GlaxoSmithKline believe in designing and retaining relationship with all our stakeholders.
The stakeholder doesn’t have to be directly linked with us. We will not be involved in any
behavior that will cause a dent in the relationship. We will not cause unnecessary harm to any of
our stakeholders and demean the name of our organization.
All the managers at all levels are requested that your subordinates receive ample rest and break
while working. We do not want them to overwork themselves to achieve your goals. We expect
every manager to be a mentor to the subordinates.
Lastly, all employees, staff, managers should abide by the code of conduct of GlaxoSmithKline.
Mutual respect is expected at all levels of the organization and there should be no leak of
confidential information to outsiders.

35. Appendix
Figure 1.
Figure 2.

36. Figure 3

37. Figure 4
Figure 4.

38. Figure 5.
Figure 6.

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