Case Study: Dynamic Strategy and Disruptive Innovation at FutureMed

This case study provides an analysis of FutureMed, an Australian radiopharmaceutical company, focusing on its capacity for disruptive innovation. The analysis covers internal perspectives such as human resources, resource allocation, organizational structure and culture, offering recommendations for improvement. It also examines external factors including political, social, economic, and technological aspects impacting innovation, along with suggestions for navigating these challenges. Furthermore, the case study delves into marketing perspectives, highlighting issues with emphatic programs, lead-user processes, and customer visit programs, proposing solutions to enhance understanding and data collection. Finally, it touches on the technological challenges and the importance of patent development. The study concludes that FutureMed needs a change management approach to become a global force and to achieve success through embracing disruptive innovation.

Running head: MANAGEMENT
Dynamic strategy and Disruptive Innovation
Name of the student
Name of the university
Author Note:

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Table of Contents
Introduction......................................................................................................................................3
Internal Perspective.........................................................................................................................3
Recommendations............................................................................................................................4
External Perspective........................................................................................................................5
Recommendations............................................................................................................................6
Marketing Perspective.....................................................................................................................6
Recommendations............................................................................................................................6
Technology Perspective...................................................................................................................7
Conclusion.......................................................................................................................................7
Bibliography....................................................................................................................................8

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Introduction
Future Med is one of the largest Australian companies that develops and markets
radiopharmaceuticals. The radioactive pharmaceuticals are very much unique and sensitive drugs
that consists of radioisotopes and is used for diagnosis and different types of complex therapy.
These kinds of medicines are mostly used in the field of nuclear medicines and radioactive traces
in medical imaging. The report has dealt with disruptive innovation that is described as the
innovation which is involved in the formation of new technology involved in the transformation
of the existing markets or replacement of the existing technology with that of the new ones.
Internal Perspective
The internal perspective of the organization can be termed as the internal factors that
have an impact on the business of the organization. The internal business factors of FutureMed
include the Human Resources, the organizational culture and structure and lastly the allocation of
the resources. The analysis of the internal factors is as follows;
a. Human Resources-
 Weak HR, non active old staffs
 Absence of Employee Development and Promotional Plan
 Lack of proper understanding from the part of the senior managers
b. Resource Allocation-
 Wrong Vision of the company
 Expectation from financial return may lead to suppression of innovation
c. Organizational Structure-

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 Hierarchy Structure
 Absence of flexible structure
 Too much conservative and traditional culture
 Director makes decisions based on reports
d. Organizational Culture-
 Conservative and Traditional Culture
 Absence of sharp leadership culture
 Absence of flexibility leads to long time for different changes
Recommendations
Some of the major improvements in the internal perspective of Future Med that can
change the business operations and improve the technological perspective of the business are as
follows;
1. Improvement in the HR system
2. Finding international fund
3. Modification of business structure and convert it into small business units that will be
much flexible in nature
4. Shortening the line of the management

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External Perspective
The external perspective consists of the external factors and the external elements of the
business organization. A PEST analysis can help to gain the idea about the external environment
of the organization.
POLITICAL ANALYSIS SOCIAL ANALYSIS
 Strict law and regulation in Australia
Recommendation
Shift of business to countries like
Indonesia
Engaging with other companies in
South East Asian Countries
 Absence of Awareness of the
importance of radiopharmaceutical
Recommendation
Training programs to educate people
ECONOMICAL ANALYSIS TECHNOLOGICAL ANALYSIS
 Absence of quality Investors in
Australia
Recommendation
Convincing international investors
 Development of modern technology
can be an important step for the success
of the industry
Recommendation
Joint Venture with other
pharmaceutical companies and research
and develop new technologies
The analysis of the external perspective is thus based upon two basic factors. They are as
follows;
a. Commitment and relationships-
 The company has the tendency to look only after the commitment and relationship
to the expectation of the shareholders
 Limited potential of disrupted innovation
b. Regulations and Economic conditions-
 Absence of proper and effective financial support

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 Australian laws and regulation do not support disruptive innovation
Recommendations
Some of the major improvements in the external perspective of Future Med that can
change the business operations and improve the technological perspective of the business are as
follows;
a. Change in the tendency of commitment and relationship
b. Training and education to Government and the individuals for disruptive innovation
c. Steps must be taken for legalization of the drug in Australia
Marketing Perspective
Some of the marketing perspective analysis of the medical organization is as follows;
 Emphatic Programs- Absence of proper understanding leads to absence of improper
product designing
 Load-User Processes- Absence of data leads to loss of information. This happens as the
management of FutureMed has failed to implement the Lead user program.
 Customer Visit programs- Limited understanding of the research needs and such a
problem also leads to non-participation from the end of the managers.
Recommendations
The recommendations for the following perspective are as follows;
a. Inclusion of all departments in the central processing server
b. Creation of a database to identify data easily

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c. Collection of information from lead users to increase the capabilities of the medicines
Technology Perspective
The technological analysis will consist of;
a. Challenges- Radiopharmaceuticals is challenging science as it is still in the
developmental process. The absence of speed is also a problem for the implementation of
spot disruptive innovation.
b. Patents- Use of patent development is necessary for the growth of the model.
Conclusion
The management of Future Med must shift the current operations to be a force globally.
A change management needs to be undertaken in the organization that can be helpful for the
business to attain success.

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Bibliography
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Thought, 4(4), pp.437-450.
Kachouie, R., Mavondo, F. and Sands, S., 2018. Dynamic marketing capabilities view on
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Lee, M., Yun, J., Pyka, A., Won, D., Kodama, F., Schiuma, G., Park, H., Jeon, J., Park, K., Jung,
K. and Yan, M.R., 2018. How to respond to the Fourth Industrial Revolution, or the Second
Information Technology Revolution? Dynamic new combinations between technology, market,
and society through open innovation. Journal of Open Innovation: Technology, Market, and
Complexity, 4(3), p.21.
Park, H., 2017. Technology convergence, open innovation, and dynamic economy. Journal of
Open Innovation: Technology, Market, and Complexity, 3(4), p.24.
Rousseau, M.B., Mathias, B.D., Madden, L.T. and Crook, T.R., 2016. Innovation, firm
performance, and appropriation: A meta-analysis. International Journal of Innovation
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Teece, D., Peteraf, M. and Leih, S., 2016. Dynamic capabilities and organizational agility: Risk,
uncertainty, and strategy in the innovation economy. California Management Review, 58(4),
pp.13-35.