Dynamic Strategy and Disruptive Innovation for FutureMed in Australia

DYNAMIC STRATEGY AND DISRUPTIVE
INNOVATION
NAME OF THE STUDENT:
NAME OF THE UNIVERSITY:

INTRODUCTION
 FutureMed is one of the largest companies present in Australia that
deals in the development and marketing of radiopharmaceuticals.
 Radiopharmaceuticals are drugs that are radioactive in nature. The
following drugs are in high demand because of its uniqueness and
are used in a large number of medical; treatment and diagnosis.
 The following report will analyze the strategical perspectives and
the adaption of the dynamic marketing policies by the company in
Australia.
 The introductory part of the research will be followed by the
internal perspective and the recommendations of the internal
perspective of the business.
 On the other hand it will again be followed by the external
perspective, marketing perspective and lastly the technological
perspective with each of the perspectives having its own set of
recommendations.

BACKGROUND
The company is governed by a board that comprises
seven different directors who have the final say in the
management of the organization.
The company has a conservative and introvert culture
which diminishes its possibility to expand across new
markets.
The organization is registered under the Australian
Register of Therapeutic Goods that is mainly controlled
by the Australian Health Department in the
Government of Australia.
The large number of different regulations and policies
makes it hard for the company as well as the
radiopharmaceutical industry to flourish in Australia.

INTERNAL PERSPECTIVE
The internal perspectives of the business is
one of the most effective analysis that needs
to be completed to have a clear
understanding of the marketing factors that
have a direct impact on the performance of
FutureMed in the success of the business in
Australia.
 The main internal perspectives that are to be
considered in this particular case include the
likes of the Strengths and Weaknesses
analysis of the company.

INTERNAL PERSPECTIVE
The internal analysis of the following business organization are
as follows;
Strengths
The largest strength of the company is that the board is board is
governed by a set of seven different managers who are quite
experienced and matured enough to lead the company to the
right way so that it can gain success in the Australian market.
The presence of seven different directors provides the much
needed excellence and expertise to the company that helps the
company to have a stronghold over the business in the Australian
market (Annarelli and Nonino 2016).
The conduction of regular meetings in the organization is one of
the most important strengths of the organization as because it
helps the management to stay updated about the issues or the
problems within the company and address them at the earliest.

INTERNAL PERSPECTIVE
Strengths
The niche market for radiopharmaceuticals is
another important cause that adds to the strength of
the organization (Christensen et al. 2016). The
absence of regular radiopharmaceutical companies
has also helped to increase the strength of the
company in the country.
The employee strength of the company can help in
the development of the organization as more is the
employee strength, the more will be the innovative
ability of the business and it will also lead to the
increase in the productivity of the business

INTERNAL PERSPECTIVE
Strengths
The presence of government as well as
private funding is a boon for the company
The radio pharmaceuticals sector also
provides great strength for the future
investors as increase in its demand will help
in the growth of the organization

INTERNAL PERSPECTIVE
Weaknesses
The absence of any systematic and proper approach to
innovate different new innovations can lead to the
weakness of the company in Australia. Innovation in
research and development can help the organization
to spread its wings and explore new opportunities.
However, its absence can trigger the damage of the
company.
Another main weakness of the company is the strong
resistance of the staff of the company to any kind of
change process (Corsi and Di Minin 2014). The
tremendous resistance to the change process is
certainly a backdrop for the organization.