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Script Pom 11:5:23

Pfizer, Inc. faced a financial crisis in 2005 due to patent expirations and implemented a $4 billion cost-cutting initiative. To enhance efficiency, Jordan Cohen launched the PfizerWorks program, outsourcing mundane tasks to BPO firms in India, allowing employees to focus on high-value work. The program was well-received but faced criticism for outsourcing jobs abroad, while it successfully increased employee productivity and strategic focus.

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Vy Kim
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9 views1 page

Script Pom 11:5:23

Pfizer, Inc. faced a financial crisis in 2005 due to patent expirations and implemented a $4 billion cost-cutting initiative. To enhance efficiency, Jordan Cohen launched the PfizerWorks program, outsourcing mundane tasks to BPO firms in India, allowing employees to focus on high-value work. The program was well-received but faced criticism for outsourcing jobs abroad, while it successfully increased employee productivity and strategic focus.

Uploaded by

Vy Kim
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Every compay must have a strong emphasis on the attainment of both efficiency and

effectiveness.
EFFIECIENCY EFFECTIVENESS
-Doing things right -Doing right things
getting the most output from the least doing the work activities that will help the
amount of inputs. organization reach its goals.

Therefore efficiency and effectiveness are related,

In 2005, Pfizer, Inc. (Pfizer) was


faced with a financial crisis with many
of its leading drugs nearing patent
expiry. The company announced
cost-cutting initiatives including a
reduction of its annual budget by
US$4 billion. However, the company
realized that cost-cutting measures
alone wouldn't suffice. To ensure that
Pfizer once again moved to a strong
position, it had to adopt a strategy to
leverage its human capital in an
efficient manner. On analyzing the
activities of the employees, Jordan
Cohen (Cohen), who is now the head
of PfizerWorks program, found that
instead of focusing on high-value
work for which they were recruited,
spent a disproportionate amount of
their time on mundane tasks such as
data entry, researching, creating
documents, working with PowerPoint,
etc.

This led Cohen to start the PfizerWorks program (initially called 'Office Of The Future') in early 2008 after
months of testing the initiative with some employees. It involved outsourcing the time wasting tasks to two
Indian-based business process outsourcing (BPO) firms. The program was well received by employees of
Pfizer and was appreciated by industry observers, However, some industry observers were not happy
about the initiative as they felt that instead of outsourcing these tasks to other countries, these should be
outsourced to companies or people in the US. According to Cohen, the PfizerWorks program had helped
increase productivity of its employees and these highly-paid employees of Pfizer were now able to better
focus their time and attention on more strategic aspects of their work rather than waste precious time and
effort on more mundane tasks. As of mid-2009, Cohen was also exploring ways to make the program
more effective.

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