Evaluation of the Structure and Strategies Used in Bristol-Myers Squibb Pharmaceutical Company Myers Squibb. While this is by no means a complete summary of their business dealings or strategy from 1998, it provides a good overview of three of the most important and fundamentally sound aspects of any business, let alone a Fortune 500 company. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay This paper begins by covering the marketing aspect of Bristol-Myers Squibb. The first question addressed is the most important structure of any business; its product. Inside is information about how and where they distribute their product. Finally, we see how they promote their product and how it is advertised. Management is the next topic of discussion. What management style does Bristol-Myers Squibb lead? The document talks about the compensation paid to their employees and how the average employee is rewarded for achieving the level of excellence. Finally, the document focuses on finances. It shows Bristol-Myers Squibb's profits, its debts, how much is invested in the company, and basically where the company is headed. Once again, this document is far from a complete analysis of Bristol-Myers Squibb's business dealings in 1998. All this document is intended to do is to provide an idea of the extreme complexity of the business world, to understand (at least a little more) business strategy and competitiveness, and perhaps shed some light on the time and effort required for such a giant of a business like this. Enjoy.History of Bristol-MyersIn 1887, William McLaren Bristol and John Ripley Myers decided to invest $5,000 in a bankrupt drug manufacturing company called Clinton Pharmaceutical Company, located in Clinton, New York. The company was officially incorporated on December 13, 1887, with William Bristol as president and John Myers as vice president. In May 1898, a new name appeared: Bristol, Myers Company (a hyphen replaced the original comma after Myers' death in 1899, when the company became a corporation). The post-war depression prompted Bristol-Myers to abandon its ethical pharmaceutical business and "dedicate itself entirely to its specialties": its two big winners and a dozen assortments of toiletries, antiseptics and anti-inflammatory syrups. cough. The company's headquarters were established in Manhattan, where it has remained ever since. And after moving aggressively into the consumer products sector, Bristol-Myers began advertising its products directly to the public. In 1924, gross profits exceeded $1 million for the first time in Bristol-Myers history. The company's products were sold in 26 countries. At this point, shares owned by John Myers' heirs became available for sale, sparking a series of moves that transformed Bristol-Myers into a public company, listed on the New York Stock Exchange in 1929. By 1943, Bristol -Myers bought Cheplin. Biological Labs, and quickly entered the field of antibiotics. 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 a huge opportunity for the company.Cheplin was renamed Bristol Laboratories and Frédéric N. Schwartz was put in charge. In 1957, Schwartz was named chairman and CEO of Bristol-Myers when Henry Bristol chose to shed some of his old responsibilities and become chairman of the board. After reviewing the company's situation and prospects, Schwartz and then-treasurer Gavin K. MacBain - who would later become Schwartz's successor as CEO - decided that Bristol-Myers should embark on a program of acquisition of small, well-managed businesses. The two executives' first major move in this direction was to acquire Clairol. About a dozen years after Clairol joined the company, a number of other acquisitions followed, including Drackett, Mead Johnson, Zimmer and Westwood. In 1986, the company opened a state-of-the-art research complex in Wallingford, Connecticut, designed to accommodate more than 800 scientists and support staff. In January 1994, Charles A. Heimbold, Jr. was elected chief executive officer. In 1995, Heimbold also became president. In 1856, Edward Robinson Squibb founded a pharmaceutical company in Brooklyn, New York, dedicated to producing medicines of consistent purity, such as ether and chloroform. In 1905 the company was sold to Lowell M. Palmer and Theodore Weicker, and the company was incorporated. That same year, land was purchased in New Brunswick, New Jersey, to establish an ether production plant. 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 Brunswick, New Jersey. In 1971, Squibb Corporation established its global headquarters and expanded Squibb Institute facilities in Princeton, New Jersey. In 1989, Bristol-Myers merged with Squibb, buying them for $12.7 billion. This merger created a global leader in the healthcare industry. The merger created what was then the second largest pharmaceutical company in the world. In 1990, the Bristol-Myers Squibb Pharmaceutical Research Institute was established, headquartered in Princeton. Bristol-Myers Squibb provides services to people in need of healthcare products. Although pharmaceuticals are their most profitable product, the breakdown can be viewed as follows: DrugsBeauty CareNutrationalMedical DevicesBristol-Myers Squibb makes most of its sales in drugs, approximately 69% of gross revenue, or $12.7 billion of dollars. They mainly specialize in six types of prescription drugs, namely: Cardiovascular - Pravachol, Capoten, Monopril Anti-cancer - Taxol, Paraplatin, Vepesid Anti-infective-Zerit, Cefzil, Amikin Central Nervous System - Buspar, Serzone, Stadol NS Painkillers - Execedrin, BufferinOther- Comtrex (anti-cold), Dovonex (psoriasis), Keri (moisturizing body lotion) Beauty care is another aspect of Bristol-Myers Squibb. In 1998, their beauty care department brought in $2.3 billion, or 12% of their total sales. Some products manufactured by Bristol-Myers Squibb are: Clariol- Daily Defense, Herbal EssenceMatrix Essentials-Salon SelectiveNutrationals are the third largest department of Bristol-Myers Squibb. This subsidiary of Bristol-Myers Squibb represents 10% of their gross revenue, or $1.86 billion. Mead JohnsonNutrationals-Viactiv, EnfamilMedical Devices is their latest category. This division of the company represents 9% of their annual revenue, or $1.6 billion. Zimmer- OrthopedicsConvaTec- Ostomy carePlace/DistributionBristol-Myers Squibb is an international company with global headquarters located in New York, New York. The head offices of.

Essay / Evaluation of the Structure and Strategies Used in Bristol-Myers Squibb Pharmaceutical Company Myers Squibb. While this is by no means a complete summary of their business dealings or strategy from 1998, it provides a good overview of three of the most important and fundamentally sound aspects of any business, let alone a Fortune 500 company. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay This paper begins by covering the marketing aspect of Bristol-Myers Squibb. The first question addressed is the most important structure of any business; its product. Inside is information about how and where they distribute their product. Finally, we see how they promote their product and how it is advertised. Management is the next topic of discussion. What management style does Bristol-Myers Squibb lead? The document talks about the compensation paid to their employees and how the average employee is rewarded for achieving the level of excellence. Finally, the document focuses on finances. It shows Bristol-Myers Squibb's profits, its debts, how much is invested in the company, and basically where the company is headed. Once again, this document is far from a complete analysis of Bristol-Myers Squibb's business dealings in 1998. All this document is intended to do is to provide an idea of the extreme complexity of the business world, to understand (at least a little more) business strategy and competitiveness, and perhaps shed some light on the time and effort required for such a giant of a business like this. Enjoy.History of Bristol-MyersIn 1887, William McLaren Bristol and John Ripley Myers decided to invest $5,000 in a bankrupt drug manufacturing company called Clinton Pharmaceutical Company, located in Clinton, New York. The company was officially incorporated on December 13, 1887, with William Bristol as president and John Myers as vice president. In May 1898, a new name appeared: Bristol, Myers Company (a hyphen replaced the original comma after Myers' death in 1899, when the company became a corporation). The post-war depression prompted Bristol-Myers to abandon its ethical pharmaceutical business and "dedicate itself entirely to its specialties": its two big winners and a dozen assortments of toiletries, antiseptics and anti-inflammatory syrups. cough. The company's headquarters were established in Manhattan, where it has remained ever since. And after moving aggressively into the consumer products sector, Bristol-Myers began advertising its products directly to the public. In 1924, gross profits exceeded $1 million for the first time in Bristol-Myers history. The company's products were sold in 26 countries. At this point, shares owned by John Myers' heirs became available for sale, sparking a series of moves that transformed Bristol-Myers into a public company, listed on the New York Stock Exchange in 1929. By 1943, Bristol -Myers bought Cheplin. Biological Labs, and quickly entered the field of antibiotics. 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 a huge opportunity for the company.Cheplin was renamed Bristol Laboratories and Frédéric N. Schwartz was put in charge. In 1957, Schwartz was named chairman and CEO of Bristol-Myers when Henry Bristol chose to shed some of his old responsibilities and become chairman of the board. After reviewing the company's situation and prospects, Schwartz and then-treasurer Gavin K. MacBain - who would later become Schwartz's successor as CEO - decided that Bristol-Myers should embark on a program of acquisition of small, well-managed businesses. The two executives' first major move in this direction was to acquire Clairol. About a dozen years after Clairol joined the company, a number of other acquisitions followed, including Drackett, Mead Johnson, Zimmer and Westwood. In 1986, the company opened a state-of-the-art research complex in Wallingford, Connecticut, designed to accommodate more than 800 scientists and support staff. In January 1994, Charles A. Heimbold, Jr. was elected chief executive officer. In 1995, Heimbold also became president. In 1856, Edward Robinson Squibb founded a pharmaceutical company in Brooklyn, New York, dedicated to producing medicines of consistent purity, such as ether and chloroform. In 1905 the company was sold to Lowell M. Palmer and Theodore Weicker, and the company was incorporated. That same year, land was purchased in New Brunswick, New Jersey, to establish an ether production plant. 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 Brunswick, New Jersey. In 1971, Squibb Corporation established its global headquarters and expanded Squibb Institute facilities in Princeton, New Jersey. In 1989, Bristol-Myers merged with Squibb, buying them for $12.7 billion. This merger created a global leader in the healthcare industry. The merger created what was then the second largest pharmaceutical company in the world. In 1990, the Bristol-Myers Squibb Pharmaceutical Research Institute was established, headquartered in Princeton. Bristol-Myers Squibb provides services to people in need of healthcare products. Although pharmaceuticals are their most profitable product, the breakdown can be viewed as follows: DrugsBeauty CareNutrationalMedical DevicesBristol-Myers Squibb makes most of its sales in drugs, approximately 69% of gross revenue, or $12.7 billion of dollars. They mainly specialize in six types of prescription drugs, namely: Cardiovascular - Pravachol, Capoten, Monopril Anti-cancer - Taxol, Paraplatin, Vepesid Anti-infective-Zerit, Cefzil, Amikin Central Nervous System - Buspar, Serzone, Stadol NS Painkillers - Execedrin, BufferinOther- Comtrex (anti-cold), Dovonex (psoriasis), Keri (moisturizing body lotion) Beauty care is another aspect of Bristol-Myers Squibb. In 1998, their beauty care department brought in $2.3 billion, or 12% of their total sales. Some products manufactured by Bristol-Myers Squibb are: Clariol- Daily Defense, Herbal EssenceMatrix Essentials-Salon SelectiveNutrationals are the third largest department of Bristol-Myers Squibb. This subsidiary of Bristol-Myers Squibb represents 10% of their gross revenue, or $1.86 billion. Mead JohnsonNutrationals-Viactiv, EnfamilMedical Devices is their latest category. This division of the company represents 9% of their annual revenue, or $1.6 billion. Zimmer- OrthopedicsConvaTec- Ostomy carePlace/DistributionBristol-Myers Squibb is an international company with global headquarters located in New York, New York. The head offices of.

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