Organizational Innovation: A Case Study of FutureMed

Organizational
Innovation

Introduction
 Organizational Innovation is a process of employing more efficient
and effective ideas.
 Organizational changes and innovations are greatly related (Lewis,
Passmore and Cantore 2016).
 Coming up with new and innovative ideas often help in the growth of
the overall business.
 Innovations help an organization to gain a competitive edge over
other organizations.
 FutureMed company is aiming at bringing few changes as well as
innovations in the organizational front.

Overview
 FutureMed is a multinational organization that deals in
radiopharmaceuticals.
 Radiopharmaceuticals are the drugs that are used in the
pharmaceutical purposes and they are radioactive in nature.
 Radiopharmaceuticals contain radioisotopes that are effective in
using critical diagnosis and therapies (Ghorbanhosseini 2013).
 The radiopharmaceuticals are effectively used in the fields of nuclear
medicines that are used for diagnosing diseases and providing
effective therapies for those diseases.

Company Structure
 The organization depends on a hierarchical structure.
 It is governed by the board of directors and they are handling the
responsibility of managing major organizational decisions (Falkheimer
2014).
 The innovations can be on the organizational ground as well as
innovating new products.