The mission and vision statement of AbbVie has positioned it as one of the leading research-based company in the world today. By crafting focusing on dynamic transformation, AbbVie has gained prominence in the biopharmaceutical niche with its people-centered research. In fact, its gradual and constant growth is proof of its consistent in what it does ever since it was founded in in 2013. Ideally, the vision statement of a company outlines the business position the firm strives to be in the near future. AbbVie’s vision focusses on the number of research breakthroughs its leadership seeks to influence in the biopharmaceutical sector. In relation to this, the mission statement of a company comprises of the strategic actions or the critical steps that a company seeks to take to ensure it advances towards its vision. In this case, AbbVie emphasizes on top quality research processes that are not only targeted to impact people but also advance medicines in general. AbbVie has particularly remained progressive in both its mission and vision statement courtesy of its strong core values. Values in a company act as the moral principles that influence all the operations of an establishment to stay within the set objectives and goals. For AbbVie, its values such as integrity, saving the community, being diverse and inclusive, and transforming lives are a reflection of the principles that guide the organization towards its mission and vision statements. In fact, these three components interrelate so seamlessly that this is accredited for the continued growth spur recorded in AbbVie Company.
AbbVie’s mission statement is “to create an innovation-driven, patient-focused specialty biopharmaceutical company capable of achieving sustainable top-tier performance through outstanding execution and a consistent stream of innovative new medicines.” The mission statement indicates the primary roles of the company when it comes to its line of business. It also stamps its leadership influence in the sector and how it seeks to influence biopharmaceutical changes. The following elements relate to this mission statement:
- Improving lives and communities. AbbVie’s mission statement emphasizes on coming up with products that leave a difference in the lives of people. The company does this by stimulating development in the line of medicine to address treatment gaps in the healthcare sector. It also extends this impact to its corporate responsibilities where it purposes to leave a positive mark in the lives of the people it comes in contact with through participatory research. Its corporate responsibility comprehensively explores how AbbVie advances this component of its mission statement.
- Simplifying healthcare. Coming up with better indications and medicines remains as the top priority of AbbVie biopharmaceutical. Through this, the company advances the second component of its mission statement by striving to create the most impactful medicines to address the pressing treatment needs in the health sector. AbbVie recognizes the treatment gaps existing today, and that motivates the company to stay ahead of the rest when it comes to being creative. By doing so, it makes access and availability of healthcare simpler through advanced medicines and indications. The unwavering commitment declared in the therapeutic focus section of the company is evidence of how important this component is to the mission of the company.
- Exceeding expectations. The rate of healthcare advancements prompted by AbbVie’s efforts tells more about the company’s desire to achieve this third component in its mission statement. AbbVie shows that it does not settle for just enough. The persistent support and resource it commits to innovative research demonstrate its commitment to do extraordinary. The company does this by being a directive leader to propel research in critical areas, including the often overlooked ones rather than merely focusing all its efforts on the pressing needs only. Its innovation in action is proof that the company not only meets the most critical needs of the biopharmaceutical sector but also goes ahead to offer much more advanced solutions.
AbbVie’s vision statement is “Innovative medicines provide compelling patient benefits, differentiated clinical performance, and economic value. We plan to launch 20 new products or indications by 2020 that elevate the standard of care and address significant unmet needs.” It explicitly outlines the milestones the company seeks to achieve within a set timeline while at the same time prioritizing on innovativeness. Various elements relate to this mission statement including:
- Patient’s benefits and clinical performance. Based on AbbVie’s mission statement, creating products that benefit the patients through proper clinical performance is a primary strategic objective of the company. It explains the dynamism characterizing the clinical trials of the company to ensure it only designs the best medicines and indications to maximize their benefits on the patients.
- Economic value. AbbVie’s vision is not all about creating medicines. It ensures that this objective takes into consideration the economic factor attached to healthcare products. In this way, it shields itself as well as the patients by ensuring that its innovations are economic sensitive and affordable as well.
- Innovation. Biopharmaceutical innovation is essentially the most prominent element in the operations of AbbVie. The company’s primary focus is advancing healthcare by creating new and better-related products. In fact, this is clearly detailed in the company’s products and services section. In this way, the company does more than creating products – it addresses the unmet needs in the healthcare sector.
AbbVie’s core values comprise “transforming lives, acting with integrity, driving innovations, embracing diversity and inclusion and serving the community.” The core values describe the guiding principles the company follows to ensure it stays within the needs of its mission and vision statements. The following components emerge from the core values:
- Transforming lives
- Acting with integrity
- Driving innovations
- Embracing diversity and inclusion
- Serving the community
AbbVie’s first component in its values emphasizes on ensuring that all the activities of the company change the lives of people. The focus on interacting and improving people comes out in how AbbVie contributes to communities. It presents a relationship with its second component that demands doing right in all the processes, especially those related to the third component, innovations. In this way, the company makes progress in its service to the community. To ensure AbbVie is a non-discriminatory institution, its core values emphasize on the firm being inclusive as one that embraces diversity.
Cady, S. H., Wheeler, J. V., DeWolf, J., & Brodke, M. (2011). Mission, vision, and values: what do they say?. Organization Development Journal, 29(1).
Darbi, W. P. K. (2012). Of mission and vision statements and their potential impact on employee behaviour and attitudes: The case of a public but profit-oriented tertiary institution. International Journal of Business and Social Science, 3(14).
David, F. R., & David, F. R. (2003). It’s time to redraft your mission statement. Journal of Business Strategy, 24(1), 11-14.
Freeman, R. E. (2010). Strategic management: A stakeholder approach. Cambridge university press.
Jones, R. (2010). Corporate branding: the role of vision in implementing the corporate brand. Innovative Marketing, 6(1), 44-57.
Khan, H. M. (2015). Biomanufacturing Science and Technology Consortium to Advance US Manufacturing of Biopharmaceuticals.
Longstaff, C., Whitton, C. M., Stebbings, R., & Gray, E. (2009). How do we assure the quality of biological medicines?. Drug discovery today, 14(1-2), 50-55.
Lucas, J. R. (1998). Anatomy of a vision statement. Management Review, 87(2), 22-27.
Mullane, J. V. (2002). The mission statement is a strategic tool: when used properly. Management Decision, 40(5), 448-455.
Network, R. C. A. (2016). Vision Statement. Williams, L. S. (2008). The mission statement. Journal of business communication, 45(2)