MBA501: FutureMed's Dynamic Strategy and Disruptive Innovation

This presentation provides a comprehensive analysis of FutureMed, an Australian radiopharmaceutical company, focusing on its innovation strategy and disruptive potential. The analysis covers internal perspectives, highlighting the need for a more inclusive culture and improved management decision-making; external perspectives, emphasizing regulatory hurdles and funding challenges; marketing perspectives, suggesting a shift towards manufacturing and exporting; and technological perspectives, advocating for disruptive innovation and technological upgrades. The presentation concludes with overall recommendations for FutureMed to foster an inclusive culture, identify suitable markets, and prioritize technological advancement to ensure long-term success. Desklib offers a wealth of similar solved assignments and past papers to aid students in their studies.

Dynamic
Strategy and
Disruptive
Innovation
Name of the Student

Introduction
– A business does not function alone.
– It requires the support of a large number of factors influencing the business
environment of a firm.
– These perspectives can be stated to be the Internal factors, External factors,
Marketing factors and the Technological factors (Hill, Jones and Schilling 2014).
– The presentation will analyse the organizational case study of FutureMed and
its components
– The recommendations and analysis will be done accordingly.

About the company
– The FutureMed is an Australian company which deals in the development and
marketing of the radiopharmaceuticals.
– The Radiopharmaceuticals are chemical drugs which can be stated to be
radioactive in nature.
– These medicinal formulations comprise of radioisotopes which can be applied in
different areas of business.
– The organization has been facing certain constraints with respect to effective
functioning.

The different perspectives
Internal
perspective
External
Perspective
Marketing
perspective
Technologica
l perspective

– Internal perspective: The internal perspectives can be stated to be those factors which belong to
factors like the working of the organization , the management structure, the senior management and
other related concepts.
– External perspective : The external factors of an organization are greatly influenced by the overall
competitive forces which exist in the external environment of the firm and tend to have a strong
impact on the overall performance of the organization.
– Technological perspective: This refers to the rate of technology which a firm experiences. This means
that, in the long run an organization would be required to pace up its rate of technology and hence, it
is influenced by the same.
– Marketing perspective: The marketing perspective of the firm can be the different perspectives of the
market which will have an impact on the firm.

Internal perspective
Analysis
– From the case study provided, the following could be understood:
– There does not exist any systematic approach with respect to the different
research activities which are carried on for the organization.
– The corporate culture of the organization can be stated to be quite restricted in
nature.
– Old management and hence, viewpoints differ from one another.

Internal perspective
Recommendations
– With respect to this, it can be recommended to the firm that, the organization
needs to engage in the building of an inclusive culture.
– It also needs to ensure that the firm is successfully able to ensure that the
management decision making system undergoes a change so as to ensure
success in the long run.

External perspectives
Analysis
– It can be witnessed from the case study that:
– For a company like FutureMed it is crucial for the firm to get itself registered
under the Australian Register of Therapeutic Goods (Wheelen and Hunger
2017).
– This becomes quite difficult to raise funds because it’s a developing science.

External perspectives
Recommendations
– With respect to this, it can be recommended that the organization would be
required to, engage in the expansion of its activities to neighbouring countries
so as to ensure that, the different regulations can be abided by effectively.
– Moreover, the company could look out for the sources of crowd funding in
order to further expand its operations (Rothaermel 2015).

Marketing perspective
Analysis
– With respect to the radiopharmaceuticals, it could be understood that the
market for the same has not been developed yet and hence, the company has
not been successful in finding the right opportunity for itself (Proctor 2014).

Marketing perspective
Recommendations
– Hence, it is recommended that the firm needs to:
– Instead carryout the manufacturing operations and sell to other countries
where the market for the Radiopharmaceuticals is better.
– It will also be better for them to raise the capital in the similar manner.

Technology perspective
Analysis
– The technology associated with any organization needs to be revolving in nature
and hence, with respect to this, even FutureMed would be required to engage
in the same.
– However, The Research and development department can be stated to be have
a limited understanding of the needs and technology to be adopted.

Technology perspective
Recommendations
– The following recommendations can be made:
– Future Med will be required to uplift its technological capacity and
engage in disruptive innovation in order to ensure that it is
successfully able to direct the focus group activities towards the
overall welfare of the organization at large (Peppers and Rogers
2016).

Overall Recommendations
Hence, it could be observed that the overall operations of the organization cannot
be categorized as largely successful in nature. In brief, the following
recommendations can be made:
– The organization needs to follow an inclusive culture for its employees.
– It needs to ensure that it identified the right market for the firm whereby it will
find adequate success(Peppard and Ward 2016).
– Technological upgradation and innovative support needs to be provided to the
different employees in order to ensure long term success.

Conclusion
Therefore, from the given analysis, it can be understood that:
– Innovation and management forms and integral part of the organization and all
the firms who want to attain success in the long run would be required engage
themselves in technological innovation which would then assist them to
perform well in the long run.
– Moreover, the internal structure of the organization needs to be changed
adequately in order to ensure success of the firm and an encouraging
environment.

References
– Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an
integrated approach. Cengage Learning.
– Peppard, J. and Ward, J., 2016. The strategic management of information systems:
Building a digital strategy. John Wiley & Sons.
– Peppers, D. and Rogers, M., 2016. Managing Customer Experience and Relationships: A
Strategic Framework. John Wiley & Sons.
– Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
– Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.
– Wheelen, T.L. and Hunger, J.D., 2017. Strategic management and business policy. pearson.