Organizational Innovation

This article discusses the importance of organizational innovation and the factors that influence it. It analyzes FutureMed's capacity for innovation and development, including company structure, market research techniques, R&D methodology, innovation, internal perspective, organizational motivation, resources, external perspective, marketing perspective, economic perspective, rules and regulations, and technological perspective.

Running head: ORGANIZATIONAL INNOVATION
Organizational Innovation
Name of Student
Name of University
Author Note

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ORGANIZATIONAL INNOVATION
Introduction
Organizational development is highly dependent on the implementation of new and
innovative ideas. In addition to that, organizational change is highly related to the innovation and
implementation of new ideas. It is to be mentioned that in order to sustain in the competitive
market every organization needs to undergo through constant upgrade. Innovation in the fields of
production, new ideas and organizational management are highly important to help a company to
grow.
Overview
In order to analyze the capacity of innovation and development of FutureMed, it is to be
mentioned that several factors play influential role in the process. Hence, to understand the
process, the important and primary factors are to be discussed.
Company Structure
It is noticed that in order to bring innovations and new changes in an organization,
internal structure is the primary aspect that is to be considered with utmost important. The
primary components of an organizational change and innovation are the management and the
workforce of an organization. As it is widely known that management plays the primary role in
building a harmonious and supportive organizational culture. Innovation and implementation of
new ideas are highly dependent on these factors. To elaborate it furthermore, it can be said that
the new ideas and innovations need to be appreciated and acknowledged in order to be
implemented effectively. Within an organizational environment, the managers and the leaders
should be supportive enough to accommodate new ideas. In addition to this, the employees of an
organization should be willing enough to accommodate new changes in the infrastructure. They

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should be willing enough to adopt and learn new technologies that are brought and implemented
in order to support innovation. Moreover, the company needs to arrange proper training
programs and workshops in order to make the employees acquainted with the changes. In this
respect, it can be said that FutureMed should be cooperative with the employees. They should
focus on organizational communication to increase the work efficiency of the employees. As it is
seen, FutureMed depends on a hierarchical structure. It is governed by the board of directors and
they are in responsibility of managing the senior management team. This can be affecting the
organization and create hindrance in bringing new ideas. To overcome this issue the organization
must focus on building a sense of inclusion within the employees. It is noticed in the case study
that FutureMed has an effective organizational management that focuses on the necessary
changes on a regular basis.
Market Research Technique
The next important aspect in implementing innovation is the understanding the influences
of the external factors. It is widely known that external factors play influential role in this
respect. The components that are included in the process of bringing innovation are climate,
existing market and demand in the present market. In the context of the pharmaceutical
organization it can be said that the organization need to analyze the primary factors that are
playing influential role in maintaining the effectiveness of the organization and help in the
process of constant innovation.
R&D methodology
It is evident that the primary hindrance in bringing and establishing innovation in the
organization is lack of understanding of the present market and the demands of the doctors and

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the physicians. Hence, the organization must employ effective measures in understanding the
needs and demands of the market.
In this regard, the importance of market analysis is also to be considered with importance.
Taking up this strategy will help in organization in maintaining a competitive advantage over
other organizations. Taking up effective marketing strategy will help FutureMed in
understanding the needs of the doctors as well as the effectiveness of the radiopharmaceuticals in
the present medical science fields. In addition to this, the importance of economic aspects are
also to be considered. To elaborate it furthermore, it can be said that the radiopharmaceutical
industry is going through constant development and comparatively new in the Australian
economy. Hence, availing sufficient sponsors to support the process of innovation and
implementation of new ideas will not be an easy task.
Innovation
Furthermore, it is to be mentioned that adopting efficient and new technologies is another
key component that influence the process of innovation. FutureMed needs to focus on implanting
and incorporating new technologies as well as new machineries that support the process of
technological advancement and innovation.
Internal Perspective
In the case of FutureMed, it can be said that he management should decrease the
organizational hierarchy and its practices. Instead, the managers should take up approaches that

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influence free and easy communication amongst the employees and the leaders. This will help
the employees in understanding the present market scenario. In addition to this, it can be said that
organizational freedom is another important aspect in maintaining the steady progress and
encourage innovations.
Organizational Motivation
Organizational motivation is an import factor in maintaining the effectiveness of an
organizational function. While analyzing the organizational motivation and its important in the
context of FutureMed, it can easily be understood that the organization does not have favorable
organizational structure that influence and encourage the employees to take up new and
innovative ideas.
Resources
Acquiring sufficient resources is one of the major components of maintaining an easy and
efficient flow of organizational production. For the radiopharmaceutical company it can be said
that the organization needs to obtain sufficient materials and infrastructural facilities in order to
carry out the production. In addition to this, getting sufficient resources helps in the process of
advancement of the organization. It helps in the organization in the process of innovation as well.
In addition to his, FutureMed is also dependent on the efficiency of the employees.
External Perspective
The external factors that play an influential role in maintaining the steady growth of an
organization are the competition in the present market, demand for the product or services,
climate of the market and soon. In the context of the pharmaceutical organization it can be said
that the organization need to analyze the primary factors that are playing influential role in

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maintaining the effectiveness of the organization and help in the process of constant innovation.
In this regard, it can be said that the organization needs to monitor the demand in the market to
sustain a steady growth in the organization.
Marketing Perspective
From the case study, it can be said that the pharmaceutical company needs to focus on the
marketing strategies. In order to maintain steady growth of the organization, it can be understood
that the organization needs to take up vigorous marketing methods. Taking up this strategy will
help in organization in maintaining a competitive advantage over other organizations.
Economic Perspective
In order to discuss the economic aspects, that might be helpful in maintaining a
sustainable growth for the organization, it can be said that the organization needs to focus on
maintaining a good relationship with the stakeholders. In this regard, it is also to be mentioned
that the radiopharmaceutical industry is a growing market.
Rules and Regulations
The organization needs to focus on the rules and regulation of the country. In this regard, it can
be mentioned that the organization needs to take up and follow the protocols in order to gain the
registration from the Australian Register of Therapeutic Goods (ARTG). As mentioned in the
case study, the radiopharmaceutical organization needs to be registered under the ARTG in order
to be considered as a lawful supplier of pharmaceutical products within the country. In this
regard, it is also to be mentioned that the organization needs to focus more on the rules and
regulations, as the Australian Department of Health has very stringent rules and regulations.

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Technological Perspective
As the industry of radiopharmaceutical is growing along with the passing time, hence, it should
be mentioned that focusing on technological aspects is very important for FutureMed. Moreover,
it is to be mentioned that the organization must take up better infrastructure that supports
technological advancements. FutureMed needs to focus on implanting and incorporating new
technologies as well as new machineries that support the process of technological advancement
and innovation.
Conclusion
To conclude, it can be said that multiple internal as well as external factors play
influential role in the process of bringing innovations. FutureMed needs to focus on
understanding the demands of the market as well as the governmental rules and regulations that
can help the organization bring necessary innovations.