Becoming an enduring
in a post COVID world
At Balaxi, our vision is to be amongst the top two pharmaceutical players within each of the multiple global frontier markets we choose to participate in. We pursue this vision without compromising on our goals to build scale, market homogeneity, healthy margins and quality growth at a portfolio level, where both value and volume are established in a balanced way. While we chase market leadership, we are always mindful of ensuring that we continuously create value for our stakeholders in a responsible way. We do this by being committed to our core purpose of bringing high-quality, everyday medicines within the reach of ordinary people, thus creating sustainable value for our stakeholders.
As we “Aspire TOP#2 Leadership”, we work tirelesssly on bolstering our internal strengths by establishing strong processes, SOPs and operations. We believe that to succeed in our pursuit to leadership, we need to be resilient, agile, and most importantly, have the ability to identify the leadership gaps in our capabilities and strategies. At Balaxi, we continuously detect and assess these disparities and find ways to overcome them in the short, medium, and long term. Moreover, we also aim to integrate our idea of leadership with opportunities and strategy development to ensure that our actions and decisions are constructive towards our end goal.
We believe that every business lifecycle involves mixed phases of growth opportunities and testing challenges. To become a successful leader, it is essential for an organisation to be super adaptive and have the ability to face obstacles with resilience. To thrive in today’s challenging climate, it is vital for a company like ours to be responsive and realize real transformation. Agility and strength are the cornerstones required for elevating financial performance and building substantial capabilities that will not only get us through a market crisis, but will also sustain us in the years ahead. Therefore, we continuously work towards infusing agility and strength in our business operations to drive value even in the most difficult periods.
The current global health crisis and its resulting business dislocations have unlocked change at a pace and magnitude that has made all of us re-evaluate our business models. At Balaxi, we realise that the barriers to boldness and speed are less about technical limits and more about such things as mindsets toward what is possible and what people are willing to do. In terms of goal setting, Balaxi is now thinking “bigger and faster”.
We see a great opportunity in becoming “bigger”, by bringing more choices and options in medicines and consumer products to the vast underserved people within frontier markets. The current pandemic crisis has accentuated the stresses in demand and supply gaps in quality medicines within many of these markets. Our goal is to speed up our entry beach-heads into new territories within Central America and Africa, and quickly serve each market with meaning portfolios of products and availability.
In terms of our operating model, we are already champion an “asset-light”
production model. This has allowed us to allocate our capex wisely to establish
ourselves in new markets “faster”. The current pandemic has also taught us the
necessity of further digitalising our business, and maintaining the productivity
and passion of our people in a blended work environment. With consumers and
traders increasingly embracing virtual engagement and e-commerce, we too are
re-calibrating how we serve our B2B partners through multiple channels.
While we adapt to move forward on our path to market leadership, we are building robust processes and systems that will push us to generate efficiency and healthy returns against our investments, while enabling us to deliver lasting value to our stakeholders.