Cornerstone student in the College of Business Administration Introduction/Executive Summary………………………………………………………………………………………………….3 Background………………………………………………………………………………………………………………………………..4 Product/Service……………………………………………………………………………………………………6 Place/Distribution………………………………………………………………………………………………..7 Promotion/Advertising………………………………………………………………………………………….8 Training and Development……………………………………………………………………………………9 Compensation and Rewards………………………………………………………………………………….9 Labor relations…………………………………………………………………………………………………..10 Profitability and Cash Flow………………………………………………………………………………….10 Liquidity……………………………………………………………………………………………………………12 Leverage/Capital Management…………………………………………………………………………….13 Conclusion…………………………………………………………………………………………………………………..13 References…………………………………………………………………………………………………………………..14 This document consists of an overall business review for the Pharmacuetical company Bristol-Myers Squibb. Although by no means a complete summary of their 1998 business dealings or stragety, it does give a nice overview of three of the most component and fundmentally sound aspects of any business, let This document starts by covering the Marketing aspect of Bristol-Myers Squibb. First covered is the most important structure of any company; its product. Inside is information on how they distribute their product, and where they distribute it to. Finally, we see how they promote their product, and which ways Management is the next topic of discussion. What style of management does Bristol-Myers Squibb conduct? The document talks about compensation given to their employees, and how the average employee is rewarded for acheving the unaverage level of excellence. Finally, the document focuses on Finance. It shows Bristol-Myers Squibb profits, it debts, how much money is invested in the company, and basically the direction that the Company is headed. Once again, this document is not nearly a complete breakdown of Bristol-Myers Squibb’s 1998 business transactions. All this document is aiming for is to give an idea of the extreme complexity of the business world, understand(at least a little more) the strategy and competitiveness between companies, and maybe to enlighten a few on how much time and effort goes into such a giant of a company like this. Enjoy. In 1887 William McLaren Bristol and John Ripley Myers decided to sink $5,000 into a failing drug manufacturing firm called the Clinton Pharmaceutical Company, located in Clinton, New York. The company was officially incorporated on December 13, 1887, with William Bristol as president and John In May 1898 came a new name: Bristol, Myers Company (a hyphen replaced the original comma after Myers’s death in 1899 when the company became a corporation).
The Term Paper on Bristol Myers Squibb Analysis
An avenue that Bristol Myers Squibb can and may be forced to consider as a remedy for its pipeline problems is a Merger & Acquisition strategy. With the economic downturn in full force the pharmaceutical industry stands out as an exception to the wait-and see mood of the markets. Mergers and Acquisitions in pharmaceuticals and biotechnology sector have actually sped up as companies try to ...
The Term Paper on Bristol Myers Squibb Company
Joseph Esposito Intermediate Accounting II Dr. Ahmed Goma Bristol-Myers Squibb Company "A Critical Analysis to Disclosure in Financial Reporting" Bristol-Myers mission is to be the preeminent global diversified health and personal care Company. Bristol-Myers seeks to achieve success in the global marketplace. Product- Bristol-Myers is a maker of many useful products that people use and may depend ...
The postwar depression prompted Bristol-Myers to jettison its ethical drug business and “devote itself entirely to its specialties”: its two big winners and a dozen or so assorted toiletries, antiseptics and cough syrups. Company headquarters was established in Manhattan, where it has remained ever since. And having shifted squarely into the consumer products arena, Bristol-Myers began advertising its products In 1924, gross profits topped $1 million for the first time in Bristol-Myers history. The company’s products were on sale in 26 countries. At this point, the shares held by John Myers’s heirs became available for sale, triggering a series of moves that turned Bristol-Myers into a publicly held company, listed on the New York Stock Exchange in 1929. In 1943, Bristol-Myers bought Cheplin Biological Labs, and quickly entered into the field of antibiotics.
The Essay on Bristol-Myers Squibb
... the launch of Apotex generic drug until its patent expire. Bristol-Myers Squibb and Sanofi-Aventis should have attempted to pay Apotex to ... good business man he made sure that the product was on the market and sales were soaring. I felt that the FTC ... the agreements. Companies must conduct business ethically at all times and not defraud others because of greed. The price that Bristol-Myers paid ...
During the war, Bristol-Myers was a major distributor of penicillin and other types of antibiotics. By the end of the war, it was clear that penicillin and other antibiotics represented an immense opportunity for the company. Cheplin was renamed Bristol Laboratories, and Frederic N. Schwartz was put in charge of it. In 1957 Schwartz was appointed president and chief executive officer of Bristol-Myers when Henry Bristol chose to shed some of his former responsibilities and become chairman of the board. Reviewing the company’s situation and prospects, Schwartz and then treasurer Gavin K. MacBain — later Schwartz’s successor as CEO — decided that Bristol-Myers should embark on a program of acquiring well-managed smaller companies. The two executives’ first major move in that direction was to acquire Within a dozen or so years after Clairol joined the company, a number of other acquisitions followed, including those of Drackett, Mead Johnson, Zimmer and Westwood. In 1986 the company opened a state-of-the-art research complex in Wallingford, Connecticut, designed to house more than 800 scientists and support staff. In January 1994 Charles A. Heimbold, Jr., was elected chief executive officer. In 1995 Heimbold also In 1856 Edward Robinson Squibb founded a pharmaceutical company in Brooklyn, New York, dedicated to the production of consistently pure medicines, like ether and chloroform. In 1905 the company was sold to Lowell M. Palmer and Theodore Weicker, and the company became incorporated. That same year, land was purchased at New Brunswick, New Jersey, for establishment of an In 1938 the Squibb Institute for Medical Research was established. In 1944 Squibb opened the largest penicillin production plant in the world: Building 59 in New In 1971 Squibb Corporation established worldwide headquarters and expanded facilities for the Squibb In 1989 Bristol-Myers merged with Squibb, buying them out for $12.7 billion dollars. This merger created a global leader in the health care industry. The merger created what was then the world’s second-largest pharmaceutical enterprise. In 1990 the Bristol-Myers Squibb Pharmaceutical Research Institute was established with headquarters in Bristol-Myers Squibb provides services for people in need of Health products. Although Pharmaceuticals are their top grossing product, the breakdown can be seen as: Bristol-Myers Squibb performs most of their sales in Medicines, approximately 69% of the gross income, or $12.7 billion. They specialize in mainly six types of perscription drugs, which are: Cardiovascular- Pravachol, Capoten, Monopril Anti-cancer- Taxol, Paraplatin, Vepesid Anti-infective-Zerit, Cefzil, Amikin Central nervous system- Buspar, Serzone, Stadol NS Other- Comtrex(cold reliever), Dovonex(psoriasis), Keri(moisturizing body lotion) Beauty Care is another aspect of Bristol-Myers Squibb. In 1998, Their Beauty Care department grossed
The Essay on 401 K Plans Company Stock Employees
401 (k) Plans There are many economic issues facing the nation today. While some are extremely important in determining how the economy is balanced, others are not. Although this is true, that does not necessarily make these lesser important issues obsolete. Take, for example, the recent issue of corporate leaders matching contributors to the 401 (k) plan with company stock, instead of with cash. ...
$2.3 billion, or 12% of their total sales. Some products that are made by Bristol-Myers Squibb are: Clariol- Daily Defense, Herbal Essence Nutritionals are Bristol-Myers Squibb’s third largest department. This subsidary of Bristol-Myers Squibb comprises 10% of their gross income, or $1.86 billion.
Mead Johnson Nutritionals-Viactiv, Enfamil Medical Devices is their last category. This division of the company accounts for 9% of their annual Bristol-Myers Squibb is an international company, with their world headquarters located in New York, New York. The headquarters for the company’s segments are Listed as follows: Medicines world headquarters- Princeton, New Jeresy Medical Devices- Warsaw, Indiana and Skillman, New Jeresy Bristol-Myers Squibb manufactures products at forty-three major worldwide locations with a floor space of roughly 12,950,000 square feet. Forty-one are owned by Bristol-Myers Squibb and two are leased.
The Essay on Mckinsey Company Employees Alternative Knowledge
Problem Statement McKinsey & Company is a highly successful consulting firm worth over 1. 8 billion dollars. However, its leader Raj at Gupta wondered if the company could better utilize the knowledge of its employees to better serve its worldwide clients. It was obvious that McKinsey & Company had a strong base of core competencies among its employees, but Gupta was unsure if knowledge ...
The geographic location of the company is as follows: Beauty Medical Medicines Care Nutritionals Devices Total ——— —— ———— ——- —– United States 8 2 2 3 15 Europe, Mid East and Africa 9 1 1 1 12 Other Western Hemisphere 7 1 2 – 10 Pacific 5 – 1 – 6 —- —- —- —- —- Total 29 4 6 4 43 In 1998, worldwide sales accounted for $18.3 billion, a 9% increase over 1997. Domestic sales represented 61% of total sales at $11.1 billion. International sales had a 39% share of total sales drawing GEOGRAPHIC AREAS Net Sales Earnings Before Taxes —————- ———————— ———————— 1998 1997 1996 1998 1997 1996 ——- ——- ——- —— —— —— United States $12,527 $11,014 $ 9,661 $3,278 $2,700 $2,512 Africa 4,873 4,653 4,520 1,139 1,109 988 Other Western Hemisphere 1,749 1,586 1,307 223 225 145 Pacific 1,457 1,636 1,563 2 52 69 Inter-area eliminations (2,322) (2,188) (1,986) (76) 40 59 ——- —— —— —— —– —– before taxes $18,284 $16,701 $15,065 4,566 4,126 3,773 ======= ======= ======= Special Charge (800) – – Other 502 356 240 —— —— —— Earnings before taxes $4,268 $4,482 $4,013 The pharmaceutical products and the medical devices segments of Bristol-Myers Squibb are promoted on a national and international level in medical journals and directly to the medical profession. Also utilized is the “direct-to-consumer” advertising for a number of its products. Most other products made by Bristol-Myers Squibb are advertised on: None of the segments is solely dependent upon one customer, or a few customers, so that the loss of a customer should not have a “material adverse effect” upon the segment. Bristol-Myers Squibb pertains to a centralized/pyramid management. A Board of Chairmen elect the officers of the company to serve out a term. The company is headed by a CEO, followed by a CFO, and so on. Assigned personnel are placed in individual aspects of the company and are put in charge of these divisions, only to answer to their superiors. Their international subsidaries are maintained by appointed personnel who control their subsidary, but also answer to a superior. Training programs are conducted internally and externally throughout Bristol-Myers Squibb. Programs that are taught internally deal with competency, development, and coaching and feedback. Management Management Orientation-offers support, guidance, information, and opportunities to network and share with other new managers. Key Manager/Executive Integration-helps the transition into leadership roles Global Leadership Development Program-Programs that help managers increase their effectiveness in meeting global challenges Management Forums-facilitated by senior management to encourage information sharing and creative problem solving across divisional and functional boundaries External training is also encouraged at Bristol-Myers Squibb. Tuition Reimbursement programs are effective for all eligible employees, providing up to 100% of the cost of the class or classes attended. Creative thinking is encouraged at Bristol-Myers Squibb. The company spends $1.6 billion on research and development each year to try to discover new medicines. Bonuses are awarded annually(and even quarterly in some instances) to employees who go beyond expectations. Stock options are given to every employee at the company through their program entitled “TeamShare,” although if performance levels are high, stock options become higher. Annual raises are also given to each employee, once again the amount raised in the employee’s salary all depends upon their performance. Once a year, the “President’s Award” is given to the employee who has achieved the highest level of excellence in the company. One outstanding employee, nominated by their manager, is given a performance review by the company to compare with other employees in the same situation. The winner of the reward receives a cash prize. Bristol-Myers Squibb believes in good labor relation. Although all benefits for employees are only for non-unionized employees, the company makes it so that no union has a need to come about. Some programs enacted for the employees are: Competitive wages with other companies TeamShare program-allows employees the option of purchasing stoks from the company Although no special labor laws are practiced in the company, Bristol-Myers Squibb does expect their employees to maintain the highest level of quality that is possible. Annual performance reviews are done on most of their employees, and on-the-job training is given to those who need the extra support. In 1998, Bristol-Myers Squibb recorded sales of $18.3 billion, about $1.5 billion more than 1997. Bristol-Myers Squibb finished with a gross profit of $4.3 billion. At the end of 1998, the company’s market value exceeded $133 billion, making Bristol-Myers Squibb one of the top 15 publicly traded companies worldwide in terms of market value.
The Term Paper on Corporate Diversity Program Employees Company Diverse
CORPORATE DIVERSITY PROGRAM My company is one of the leading suppliers and distributors of HVAC (Heating, Ventilating, and Air Conditioning). We are a rather large company, with approximately one hundred employees, somewhat diverse, and also quite profitable. Recently, I received a memo stating that a diversity program was to be established. Diversity is certain qualities in other people that are ...
(in millions, except per share amounts) 1998 1997 1996 1995 1994 ——– ——– ——– ——– ——–