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 demonstrates 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 emphasises coming up with products that make a difference in people's lives. The company does this by stimulating development in the field of medicine to address treatment gaps in the healthcare sector. It also extends this impact to its corporate responsibilities, where it aims to leave a positive mark in the lives of the people it comes into 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 the top priority of AbbVie Biopharma. 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 recognises 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 to 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 of its mission statement. AbbVie shows that it does not settle for just enough. The persistent support and resources it commits to innovative research demonstrate its commitment to doing extraordinary things. The company does this by being a leader who propels research in critical areas, including the often overlooked ones, rather than merely focusing all its efforts on pressing needs. 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.
The mission and vision statement of AbbVie have positioned it as one of the leading research-based companies in the world today. By focusing on dynamic transformation, AbbVie has gained prominence in the biopharmaceutical niche with its people-centred research. In fact, its gradual and constant growth is proof of its consistency in what it does ever since it was founded in 2013. Ideally, the vision statement of a company outlines the business position the firm strives to achieve in the near future. AbbVie's vision focuses 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 the strategic actions or critical steps that a company seeks to take to ensure it advances towards its vision. In this case, AbbVie emphasises 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 organisation towards its mission and vision statements. In fact, these three components interrelate so seamlessly that this is credited for the continued growth spurt recorded at AbbVie Company.
Vision Statement
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 prioritising innovation. Various elements relate to this mission statement, including:
Patient’s benefits and clinical performance. Based on AbbVie's mission statement, creating products that benefit patients through proper clinical performance is a primary strategic objective of the company. It explains the dynamism characterising the clinical trials of the company to ensure it only designs the best medicines and indications to maximise their benefits for patients.
Economic value. AbbVie's vision is not all about creating medicines. It ensures that this objective takes into consideration the economic factors attached to healthcare products. In this way, it shields itself as well as the patients by ensuring that its innovations are economically 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 healthcare-related products. In fact, this is clearly detailed in the company’s products and services section. In this way, the company does more than create products; it addresses the unmet needs in the healthcare sector.
Core Values
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 emphasises ensuring that all the activities of the company change the lives of people. The focus on interacting with 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 emphasise the firm's being inclusive and embracing diversity.
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