Life ScienceNutraceuticals,Inc. Company Profile

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Life ScienceNutraceuticals,Inc.
Company Profile

Welcome to LSN!
The assessment projects for this class will examine different facets of the leadership of Life ScienceNutraceuticals,Inc. (LSN).YouwillbeexploringleadershipwithinLSN with the driving question of what skills does a LSN leader need to lead the company now and in thefuture?
History
Ian Marvel was a young apprentice working for R.R. Robin, owner of a small apothecary shop in Yonkers, New York. During his apprenticeship, Marvel created a generalenergyelixirthatwasbasedonahomeremedyofhismothersbackinIreland. The elixir was produced specifically for many of Robins special customers. Made of all- natural ingredients the elixir provided B12 and other vitamins to promote a healthy immune system. The energy boost was noticeable after only a week. The reputation of and demand for the elixirgrew.

In 1922, Marvel took over Robins apothecary shop renaming it,Marvels Apothecary. At that time, Marvel decided to bottle his elixir and sell the formula to everyone rather than selected customers. Marvel also gave bottles of the elixir to local peddlers who sold the product along with their wares receiving a commission on eachbottletheysold.By1929,theproductwaswellknowninYonkers.Encouragedby the success in Yonkers,Marvel decided to branch out to New YorkCity.

In 1932, Marvel built a small manufacturing plant near the store where he mixed and bottled the elixir for sale. By 1934, Marvel expanded sales by putting the elixir in a quarter of the apothecary shops in New York City. Sales were booming and customers. Customers inquired about other products that Marvelshad.

In 1936, Marvel started a new product called Sleep Tight, another of his mothers recipes. This product offered relief from insomnia and anxiety customers by a variety of symptoms or nerves. When this product proved a secret success among women,Marvel decided to bring his mother, Irene, from Ireland, and put her to work making new natural products. With his mothers help, Marvel grew the customer base into a small but successful manufacturer of natural health products. Marvel coined life scienceproducts to capture the insight that products tracked natural life events in the human body and attempted through Nutraceuticalsto improve the customers discomfort in dealing withthem.

The name of the company was changed to Marvels Elixir and Life Products. The customer base continuedtogrowanddespite hismothersdeathin1938,thecompanyhada grossrevenueof$208,000ayear.Thedepressiontookatolloncompanyprofits; however, people still sought the boosts to their health. The products were priced at affordable levels as opposed to the medicine prescribed by doctors and hospitals. During World WarIIthecompanysuppliedthemilitary withanaturalcaffeine(No Snooze)productthat would keep soldiers awake for long periods of time by intensifying their mental alertness. Government contracts derived from No Snooze boosted the revenue of the company considerably and ushered in a new wave of successful Nutraceuticals-basedproducts.

By 1950 Marvel turned over the reins of the daily operations of the customer base to his children but remained on the Board of his family owned company. By this time, the companyhadexpandeditsmanufacturingplantsandsalesnationallytoincludeDetroit, Michigan, Los Lunas, New Mexico, Chicago, Illinois and Atlanta, Georgia. The annual revenue of the company was now to 3.5 milliondollars.

Inthe1960sthesocialclimateinAmericahadchangedandpharmaceuticalcompanies took on greater importance in the treatment of peoples health. The scientific discovery of new drugs and better health care shifted the confidence in the American perspective away from natural products to traditional western medicine. Although the counterculture of America still supported natural supplements, popularity for Marvels products waned.

In1965,Marvels granddaughter,Rhonda,tookovertheResearchandDevelopment Department (R&D) after receiving a degree in chemistry from Stanford. She had been trained as a child by her grandmother, Marvels mother, and was taught all the recipes.Rhonda alsohadnewideasfor products.

Due to the downturn in sales by 1970, the company expanded to other countries for its sales base. Starting in Germany and other European countries, where natural products are highly credible with consumers, LSN began to license the sale of the companys products to local manufacturers. The companys name recognition grew and by the 1980s the company was grossing over 6 million dollars in gross sales. At that point, the company opened a manufacturing plant in Heidelberg, Germany. Marvel died in 1981 shortly after seeing his first grandchild, Alexandria Marvel, take over the Presidents position.

Studyingthetrendsinthe1990sabouttheresurgenceofnaturalhealthproducts,Alex as she liked to be called, decided it was time for LSN to focus on the new interest in homeopathic products becoming popular in the United Sates. LSN saw this as an opportunity to overcome the sluggish 1960 1970 North American sales. It worked.

In 1996, Alex, wanting to get a sleeker and more modern feel to the companys products changed the company name and logo. No longer was Marvels a momandpopoperationbutnowwerepartoftheLSNnutraceuticalmarket.While some products would continue to show their associated older Marvel logos, the new logo, Life ScienceNutraceuticals, Inc. would be prominent on all packaging.

By2000thecompanywasgrossingabout$3.1billion annually, as the result of anincreaseinmarket penetration. By 2012, LSN had a 20% market share of the global health-related Nutraceuticals supplements producing $20 billion of annual sales.

The growing interest in the bio-nutraceutical marketplace was catching the attention of the big pharmaceutical companies. Piffer, Merke, Johnson and Johnson began to invest in these products and partnered with LSN to produce and market them globally.
Currently sales for the company are at $35 billion. Alexandria Marvel is still President and CEO. All LSN stock and senior management positions are held by familymembers.

Current Company Vision: To help our community of consumers to achieve their full potential for health and well-being in the most natural of ways.

Current Mission: To be the leading provider of effective products and services that are safe and affordable and exceed customer expectations.

Current Fact Sheet

Headquarters Miami, Florida
Worldwidewebaddress www.LSN.org
President& CEO Alexandria Marvel
2020GrossSales North America $ 35billion
Employees 37,000 in 11 countriesworldwide

Manufacturer Operations

UnitedStates Miami, Florida, New York, New York,Las Vegas, Nevada,Detroit, Michigan, Dallas, Texas, Chicago, Illinois, San Francisco, California
Europe France, Germany, Wexford,Ireland, England
AsiaPacific Brisbane,Australia
Latin AmericaandCaribbean Recife,Brazil

Canada Product

Lines Major

Competitors

Vancouver, Canada

Protein and Fitness; Personal Care, Nutraceuticals, Vitamins and Food Supplements

Protein and Fitness-GNC,
Personal Care- Nestle Skin Care- Galderma, SA; Glaxo, Merke, General Mills.
Vitamins and Food Supplements- GNC, Natures Plus, Natrol, Natures Way, Natures Bounty, Hain Celestial Group, Inc, Schiff Nutraceuticals International, Nestle, General Mills, Now Foods, and NewChapter

LSNsBUSINESS PHILOSOPHY AND STRATEGY

LSN has determined its long-term goal planning pattern should be no longer than
3 years. Three years seems more flexible than the seven-year planning pattern previous used, as rapid changes in customer base preferences is making it imperative to be more flexible. The need for innovation and competitive advantage are the main focus for the next two years along with the companys commitment to become a $50 billiontriple bottom line company. Success both for company profit and our planet is foremost in the minds oftheleadership.Theenhancement ofthe current bottomlineisinimportant to keep strong the research and development of new nutraceutical products for the company to meet its perceived socially responsibility mandates. Moreover, quality control is essential to ensure the companys success developing successful and safe life products.

Current Growth Plans

Business and Sales
LSN is looking to expand to Saudi Arabia in the next year. Currently,the product demands of Saudi Aribia exceed the capacity of the European Divisions manufacturing plant in Germany. Arab countries, in general, are seen as a lucrative expansion opportunity. In addition to the production capacity of Germanys plant, an expansion of the production capacity in Sao Paulo is being considered to meet production demands associated with sales projections in the Arab countries.

Product Development
LSN is looking to develop its cosmetic and food lines. Currently LSN makes lip balms but seeks to make a line of lipsticks, makeup foundation, body powder, eye makeup and facial cleaners from natural ingredients. Development of natural flavorings for beverages and whey products are under consideration.

LSNS CORE VALUES

The leadership of LSN has identified four core values:Customer-Centricity, Innovation, Knowledge, and Sustainability. These values are essential guidance for strategy and for the achievement of the companys mission, vision,and goals.

Customer-Centricity
Currently, there is a company-wide accountability to customers. The LSN workforce is expected to provide an extraordinary customer experience in every product made. Customer relations are considered to be both internal and external. Field employees are considered external customers and are to be treated as such. The employees are considered customers in the same way as those who purchase products from LSN.
Innovation
The company desires to enhance innovation by changing the organizational structure and company culture to be less centralized and clannish, as a result of all the decision-making be vested in senior management, all of which is comprised of family members. A more collaborative decision-making culture as opposed to a top-down decision-making culture is desired. This change is perceived to be able to bring worldwide company operations and individuals closer together for the purpose of more harmonious outcomes from decisions, the sharing of resources, and better communications. It is desired that the change in decision-making will also result in an environment that fosters innovation through the encouragement of the exchange of new ideas that makes change easier to implement.
Knowledge
LSN is a company whose history is deeply rooted in research and development.The reliance on scientific knowledgeis viewed as a cornerstone for successful product quality to occur. Another aspect of knowledge is the historical knowledge of company practices and beliefs that that shaped the culture of the company. This tribal knowledge is a direct result of the Marvel familys leadership and the loyalty and support the family has received from their long-time employees. LSNs culture is at the heart of LSNs value system.

Sustainability
LSNviews its sustainability as linked to the fulfillment of it social responsibilities. LSN has commitments to build houses for several communities in Brazil and India, where many of their natural pharmaceutical ingredients are extracted and produced.These socially responsible activities demonstrate the companys commitment to become a triple bottom line company in a year. LSN defines sustainability as based on the ability to generate significant profit and taking actions to ensure the inherent resources of our planet are preserved and restored. In short, LSN defines sustainability as embracing both for profit and for planet.

LSNS CURRENT CORPORATE CULTURE

Marvels new image of a sleek, less clan-like organization has resulted in family disputes. This conflict is inevitable given the Marvel family occupies all senior management positions and controls all decision making. Although the family leaders are strongly committed to growing the customer base and rewarding a loyal, , decision making has been highly centralized historically.

The family dominance of decision making is a cultural heritage of the company. The desire to share family history with all employees is seen an essential to ensuring all employees feel a sense of unity and belonging. The cultural belief system holds that if all employees have abetterunderstandingofthepreviousMarvel generationsandare reminded of how far the company has come since Ian Marvel founded it, that they will become and stay long-term loyal employees.

As the company has grown, however, many employees have commented on the need for the companys leaders to demonstrate support for collaborative decision making. There have been discussions that new ideas and other innovations might, too, be enhanced, if there was more than lip-service paid to the greater need for collaborative decision making. In order to encourage new ideas and innovations, decision making should be delegated to lower levels of the organization. These lower levels are the levels of the company where leadership is important to company outcomes and essential decisions should be made by managers who are not members of the Marvel family.

The family prides itself as being a customer-centric culture. A customer-centric culture views its employees as customers when they need something from other sections of the company or anything to enhance the companys customer experience. This an external customer-centric culture when the services of other employees in various functions of the company are themselves seen as customers. An internal customer-centric culture instills and encourages employees to look at their work through the perspective of an actual customer and to make decisions from a customers viewpoint.

LSN is concerned that the stateside organization is driving the overseas divisions and that new ideas are not being encouraged because of the cultural differences stateside and overseas. Customer innovationworkshopsrunbythevarious divisions in North America and overseas havehighlightedthatR&D practices in Europe, Asia, Latin America, and South Americaare different as are beliefs about what is needed to create a good customer experience. Customer preferences vary among the different countries where LSN conducts business. The perception from across the ocean is that resources are disproportionately North America controlled and that the differences in product preferences between overseas customers and those in North America are ignored when products are allocated and shipped from the North America to the outlets overseas. These reduces overseas sales and profit. Corporate leaders are examining the matter in an attempt to answer this culturalgap.

Current Organizational Structure

The company has a geographical division structure mixed with a functional structure. The line functions (those that reach customers directly) are production and sales support. The staff functions (those that support employees in the line functions or employees in other organizational functional areas) are organized in a functional structure. R&D, HR, IT and Finance are the core staff functions. (At LSN the leadership of each of these functions can only implement decisions after that have been approved by a member of the Marvel family in a senior management position.

In a functional structure, the staff functions are organized centrally to service all product production and sales force needs as opposed to each product line having its own unique R&D, HR, IT and Finance functions. When staff functions are unique to each product line, the resultant organizational structure is entitled a Product Structure.

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