Diabetess is one of those diseases which one time you are prone, it sticks with you lifelong. Insulin is the remedy that health care companies provide against diabetes. Large scale production of Insulin started in 1923 by a Danish company Nordisk Insulinlaboratorium and in 1925 by another Danish company Novo Terapeutisk Laboratorium, both in Scandinavia.
Insulin production and bring arounding diabetes was the foremost mark of the company. Nordisk established the Nordisk Insulin Foundation in 1926, with the purpose of back uping people in Scandinavia contending the disease by heightening research in this field.
There were big Numberss of experiment carried out in the coming old ages. Revolutionary medicines/products were introduced in the market by both the companies.
In 1951, Novo established the Novo Foundation with the aim of act uponing scientific research & A ; societal causes and of class, supplying a safety step to the company.
In 1981, Novo became first Danish company to be listed on New York Stock Exchange. In 1982, Novo revolutionized the Healthcare industry by bring forthing first Human Monocomponent insulin, a merchandise indistinguishable to Human Insulin. 1987 is considered as the twelvemonth of extraordinary growing in health care industry as Novo started production of Insulin utilizing Genetic Engineering.
In 1988, Nordisk started bring forthing Genetically engineered Human Growth Hormones, and opened up a whole new field of rDNA engineering.
The large interruption came in 1989 when Nordisk Insulinlaboratorium, the Nordisk Insulin Foundation and the Novo Foundation merge to go the Novo Nordisk Foundation. Since so, the company has grown vastly and globally. As of 2012, NOVO NORDISK has its presence in 75 States, with more than 33,000 employees and markets its merchandise in more than 190 states. It is still headquartered in Denmark.
Novo Nordisk follows “ The ternary underside line ” doctrine.
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They tend to thrive their success if they feel the work done is Financially, Socially and Environmentally responsible.
They besides feel that a healthy economic system, healthy environment and a healthy society are the anchors of a healthy concern growing, in the long tally.
Overall, they look at developing options which are sustainable and of less injury to environment and society.
As the stockholders are the ultimate authorization, their concern doctrine mingles around the fact that they need to affect their stockholders with high returns.
Novo Nordisk is a public limited company under Danish Laws. Bing an invention based company ; they have an extended R & A ; D section and a Chief Science Officer to look after that. Chief executive officer of the company heads the Executive direction of the company which comprises of CFO ( Chief Financial Officer ) , COO ( Chief Operating Officer ) , CSO & A ; COS ( Chief of Staff ) .
Stockholders, as the instance is with Novo, are the ultimate foreman. They have the highest authorization and they elect 7 out of 11 Board members who are straight answerable to them at General Meetings.
The company prioritizes on doing its stockholders and stakeholders happy come-what-may.
Board of Directors
Lars Rebien Sorensen took over as the President and CEO of Novo Nordisk in 2000. Since so he has managed the company in a mode that they weathered out the fiscal crisis rather convincingly in 2008. He is inclined toward R & A ; D of the company and encourages its R & A ; D section to come out with major discovery merchandises in Healthcare market.
Sorensen has a Patient-oriented attack, which he has instilled in the company moralss besides.
Under Sorensen, Novo has taken the ‘me-slightly-better ‘ attack instead than ‘me-too ‘ attack in an already overcrowded makers market. He focuses on capturing patients every bit shortly as they are diagnosed, taking into history that 80 % patients tend to stop dead on a trade name of medical specialty ( in instance of insulin, at-least ) that they take foremost. This attack will sure give them an improved market portion in the long tally because in this metabolically unbalanced universe, Diabetes is traveling nowhere.
He has ever maintained high ethical criterions within the company and has made net incomes throughout. He made an investing of $ 100 million in order to explicate World Diabetes Foundation and committed to supply Insulin at 20 % of the standard monetary value to the people populating in the underdeveloped states.
He was among the group of CEOs who introduced the Workplace Wellness Alliance, in order to advance wellness and fittingness in employees. Sorensen himself is a acute bicycler, which shows Health is merely non a market for him it ‘s more of a personal committedness.
In an coming to turn the company to higher degrees, Sorensen has approved a whole works to be installed in China, sing the immense demand of Insulin in this country. This bold but cagey move by the CEO was applauded by the remainder of the direction and got a hearty welcome by everyone within the company.
They have a civilization of compassion and fight within the company and supports invention and duty. The vision, values and committedness towards carry throughing the ‘Triple bottom line rule ‘ guards the overall civilization and they call it – “ The Novo Nordisk Way ” , a papers written for employees at Novo Nordisk.
They remain focussed on invention along with managing the societal, fiscal and environmental factor throughout.
Due to the planetary presence of the company ( in more than 75 states ) , different offices have varied rites that they follow based on the local civilization. At Novo one gets the flexibleness to work and different thoughts are ever welcomed.
They try and improvize a free environment within the office ( among equals ) . At Novo Nordisk, the employees enjoy proper Work-Life balance, Pension plans, wagess, etc. The consensuses of employees are valued within the system which makes them experience sceptered and to endeavor forward with better plans/work.
In any workplace, group kineticss plays a really of import function in finding the result of the given undertakings. Group dynamics explains the system of work within a group of people or within two groups of people or within several groups of people working towards a common end, taking for the maximal end product.
Novo Nordisk enjoys a mature group kineticss as the CEO takes entire control of the well being of each and every employee. Bing a Global company, work civilization in different parts is, expectedly, non same and the company understands this and gives freedom & A ; flexibleness to their employee to work in conformity to their civilization, every bit long as the Triple underside line rule of the company is actualized.
The R & A ; D section being the anchor of the company, maintains a close relation with other sections like Marketing, Gross saless, etc. and they all work towards the bottom line.
Selling and Gross saless section should be good informed about the merchandise that is in the market or the one ‘s which are ’bout to be launched in order to do readyings. All these groups work in close propinquity and the flow of information is pretty clear.
Bing a R & A ; D theoretical account company, to turn, Innovation is inevitable and with invention comes change in procedure, alteration in future or instead alteration in company direction. Technology alterations, if on an enlargement manner so civilization alterations, policies may alter consequently but one thing which does non alter is the vision of the company and that ‘s precisely what Novo Nordisk is all about.
There are defects in the direction, as can be interpreted by reading employee ‘s reappraisals ; but overall, the company stands by any determination it takes in order to break the growing of the company and they have done brightly good so far.
Change in leading is one of the biggest concerns for any company. Along with the replacement, the working theoretical account alterations, the vision might differ, the civilization within the organisation might alter and hence the whole direction might hold to set to a different manner of working which, head you, is non all that easy. To hold a smooth and solid sequence program is a must. The CEO must do ready his/her replacement before stepping down. If non done decently, this one determination can wholly alter the class of action of the company. Novo Nordisk has a attractively structured sequence planning in topographic point.
Every company has its portion of political relations traveling on within the organisation. Conflicts are bound to go on. Novo Nordisk is no exclusion.
Politicss among groups to make better than the other can be considered every bit positive as it brings a sense of competition within the company, but political relations within a group sing affairs such as Group leader or Work portfolio can drastically degrade the value of the group and the company.
Any struggle within the company should be good managed and persuaded in a manner that it does non harm the work civilization of the office. Novo has, slightly, been able to accomplish this effort.
Novo strives on its advanced R & A ; D section. Over the old ages, they have produced discovery merchandises, INSULIN being a major success. Without invention, no R & A ; D model company can last in this competitory market.
In the procedure of being better than others, positive invention is the lone opportunity that these companies have.
Bing an foreigner, still, I am non in the best of places to critically joint Novo. But, from whatever I have read about the company and its patterns, I can certainly infer that at that place has to be better relationship being developed between the higher direction and employees. No uncertainty they give good inducements and all, but the feeling of life acquiring humdrum, should be handled with attention by the direction. ( Beginning: hypertext transfer protocol: //www.glassdoor.com/Reviews/Novo-Nordisk-Company-Reviews-E3498_P2.htm )
The company itself is focused on future, so I do n’t truly hold any recommendations beside one thing that they should seek and do better relationship with their employee.
I foremost heard of this company when I was in 8th venereal disease. My gramps takes Insulin injections tested and produced by Novo Nordisk. The trust he has shown on Novo has non failed him and that got me inclined towards this company. I do n’t cognize a batch about this company at this minute, but certainly would wish to.
It is my dream to get down off my calling in this company ( I am a dreamer ) , but someday I would decidedly be at that place.