Innovative Capacity of Future Med: Internal and External Factors

N A M E O F T H E S T U D E N T
N A M E O F T H E U N I V E R S I T Y
Dynamic Strategy and
Disruptive Innovation

About Future Med
Future Med is one of the largest listed companies in
Australia that engages in the marketing as well as in the
development of radioactive pharmaceuticals.
The radioactive pharmaceuticals are essentially
pharmaceutical drugs which are radioactive in nature.
These are unique medical formulations that comprise of
radio isotopes and are made use of in a number of
clinical areas for the purpose of therapy and diagnosis.
The radiopharmaceuticals are mostly made use of in the
nuclear physics field, primarily as radioactive tracers.
These are used in activities like medical imaging as well
as in the domain of therapy for treating different types
of diseases.

Key Internal Factors Impacting
Innovative Capcacity
The senior management of the Future Med
Company makes it a point to meet with each
other on a regular basis in order to discuss in
detail the demerits and merits of new projects.
Any new project or undertaking of the company
is pondered over and contemplated as much as
it is possible to do so by senior members of the
Future Med management, comprising those
who hold leading positions in departments such
as finance, operations, marketing and research
and last but not least, development

 The Future Med Company is involved in the production of
pharmaceuticals that are radioactive in nature and which need to
be innovated with on a regular basis if these are to attract
customers over the long term.
 A lot of scientific research and investigation must go into the
production of the radioactive pharmaceuticals. It is a fact well
known that thorough and detailed scientific investigation can only
take place with the help of proper financing and organization and
this approach taken up on the part of the senior management at
Future Med to discuss the pros and cons of each and every
project in detail before finally approving to its implementation
has worked well as far impressing stakeholders is concerned. T
 The company has managed to increase the dividends that it pays
its shareholders as a result of this approach which in turn has
increased the expectations of the shareholders too.

There are a number of ways by which the
approach to innovation that is taken by the
senior management at the Future Med
Company, can be improved upon.
Instead of merely discussing the benefits and
the demerits that implementing a certain
scientific project can have on the growth and
development of the company, the senior
management at Future Med should
demonstrate the willingness to take a few
risks when undertaking scientific research.

 The members of the senior management at the Future Med
company need to be more proactive as far as innovation is
concerned and should draw up and support research proposals for
undertaking projects that till date may have appeared to be a bit
too risky.
 Ground breaking and novel research needs to be undertaken in
the domain of radioactive pharmacy by the employees of the
Future Med Company if the company wishes to launch innovative
products in the market and make its share holders even happier
than they are at present.
 The senior management of the company should portray a
willingness to undertake research in areas of radioactive
pharmacy that are still not known to experts in the field and only
then can they come up with innovative findings that can help the
company to attract the attention of customers and investors when
it launches its products in the market.