Minor Assignment

on

Subject

Business Strategy Management

NAME-VAIBHAV PANDEY
ROLL NO.-A048
 Mankind Pharma

The vision statement of Mankind Pharma, "Be a global

pharmaceutical company, most admired for its
affordability, quality, and accessibility of products," is a
concise and clear statement that captures the company's
aspirations for the future. Let us analyze the statement with
respect to the seven desirable characteristics of an effective
Vision statement:

Clear and Concise:

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The vision statement of Mankind Pharma is clear and concise,
focusing on the company's desire to become a global
pharmaceutical company known for affordability, quality, and
accessibility of its products.

Future-Oriented:
The vision statement is future-oriented as it focuses on the
company's aspirations for the future. It outlines what the
company wants to achieve in the future and the direction it
wants to take.

Inspiring:
The vision statement of Mankind Pharma is inspiring as it
reflects the company's commitment to providing affordable,
high-quality healthcare products and making them accessible
to people worldwide. The statement inspires employees to
work towards achieving the company's goal and motivates
stakeholders to support the company's mission.

Relevant:
The vision statement is relevant to the company's industry
and business. It aligns with the pharmaceutical industry's

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focus on providing high-quality healthcare products and
increasing accessibility to healthcare globally.

Ambitious:
The vision statement of Mankind Pharma is ambitious, as it
aims to become a global pharmaceutical company admired for
its affordability, quality, and accessibility of products. The
statement demonstrates the company's aspiration to grow
and expand its reach.

Measurable:
The vision statement is measurable as it outlines specific goals
for the company to achieve. The statement focuses on
becoming the most admired company for affordability,
quality, and accessibility of products.

Easy to Communicate:
The vision statement of Mankind Pharma is easy to
communicate as it is concise, clear, and memorable. The
statement can be easily communicated to employees,
stakeholders, and customers, helping to align everyone with
the company's goals and objectives.

Shortcomings:

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However, the vision statement of Mankind Pharma could be
improved by addressing a few shortcomings:

Lack of Differentiation:
While the vision statement of Mankind Pharma outlines the
company's aspirations to become a global pharmaceutical
company known for affordability, quality, and accessibility, it
lacks differentiation. The statement is similar to the vision
statements of many other pharmaceutical companies.

Lack of Innovation:
The vision statement does not mention anything about
innovation, which is a crucial factor in the pharmaceutical
industry. The company could include a focus on innovation
and new product development to differentiate itself from
competitors.

No Mention of Values:
The vision statement of Mankind Pharma does not mention
the company's values. Incorporating values such as integrity,
transparency, and ethics can help the company to align its
operations with its vision and mission.

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In conclusion, the vision statement of Mankind Pharma is
clear, concise, future-oriented, relevant, inspiring,
measurable, and easy to communicate. However, it could be
improved by addressing the lack of differentiation, the focus
on innovation, and the lack of incorporation of company
values. By doing so, the company can create a more
compelling and impactful vision statement that better reflects
its purpose and values, helping to inspire employees and
stakeholders and achieve its goals.

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Mankind Pharma is a leading Indian pharmaceutical company
founded in 1995. The company has a mission statement that
reads, "To be able to provide cost-effective, innovation-based
superior quality pharmaceutical products across the globe
that improve the lives of the patients." In this analysis, we will
evaluate Mankind Pharma's mission statement with respect to
the seven desirable characteristics of an effective mission
statement and identify its shortcomings.

Customer-focused:
Mankind Pharma's mission statement is customer-focused as
it emphasizes providing innovative and superior quality
pharmaceutical products that improve the lives of patients.
The company aims to address the needs of its customers by
offering cost-effective solutions. Therefore, this characteristic
is well-presented in their mission statement.

Clear and concise:

The mission statement is clear and concise. It is written in
simple language and easy to understand. The statement is
brief, and it clearly outlines the company's purpose and what
it aims to achieve. The language used in the statement is also
straightforward, making it easy to comprehend.

Specific:

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Mankind Pharma's mission statement is specific, as it
highlights the company's focus on providing innovative,
superior quality, and cost-effective pharmaceutical products
globally. The statement outlines the purpose of the company
and its target market, which is patients worldwide.

Inspirational:
An inspirational mission statement is one that motivates
employees to work towards achieving the company's
objectives. Mankind Pharma's mission statement is somewhat
inspirational, as it emphasizes improving the lives of patients
through the provision of innovative, superior quality, and
cost-effective pharmaceutical products globally. It can inspire
employees to work towards providing better healthcare
solutions for patients.

Measurable:
Mankind Pharma's mission statement is somewhat
measurable as it emphasizes providing cost-effective,
innovation-based, superior quality pharmaceutical products
globally. The statement is measurable as it outlines specific
goals that the company aims to achieve. The company can
measure its success by evaluating how well it is providing
cost-effective and superior quality pharmaceutical products
and the number of patients whose lives have improved
through the company's products.

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Time-bound:
The mission statement is not time-bound. It does not specify
a time frame within which the company aims to achieve its
objectives. The statement emphasizes the company's purpose
and what it aims to achieve but does not provide a timeline or
deadline for achieving its goals.

Differentiating:
Mankind Pharma's mission statement is not differentiating, as
it does not highlight what sets the company apart from its
competitors. The statement outlines the company's focus on
providing innovative, superior quality, and cost-effective
pharmaceutical products, but it does not explain what makes
the company unique or how it differentiates itself from its
competitors.

In conclusion, Mankind Pharma's mission statement contains

several desirable characteristics of an effective mission
statement, such as being customer-focused, clear and concise,
specific, inspirational, and measurable. However, the
statement falls short in being time-bound and differentiating
the company from its competitors. The company can improve
its mission statement by adding a deadline for achieving its
objectives and highlighting what makes it unique from its
competitors.

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