MBA501 FutureMed Case Study: Dynamic Strategy & Innovation Analysis

This case study provides an analysis of FutureMed, a radiopharmaceutical company, focusing on its dynamic strategy and disruptive innovation capabilities. It examines the company's internal perspective, including human resources, R&D activities, management structure, financial resources, and resistance to change, offering recommendations for improvement such as supporting staff, encouraging innovation, and learning from other companies. The external perspective considers factors like industry maturity, customer expectations, regulations, technology advancements, and competition, recommending resource utilization, patenting products, and maintaining a suitable legal position. From a marketing perspective, the analysis covers market dynamics, competitor actions, and the economic environment, suggesting continuous investment, diversification of political risks, and implementation of cost-effective strategies. The technology perspective explores advanced technologies, R&D, and value chain factors, recommending electronic health records, portal technology, and real-time locating services. The conclusion highlights factors impacting FutureMed's innovation practices and suggests business expansion, new business models, and organizational structures for successful innovation.

DYNAMIC STRATEGY AND
DISRUPTIVE INNOVATION
Analysis of FutureMed

INTRODUCTION
 Innovation has important role,
 FutureMed: Large radiopharmaceutical
company,
 Nuclear medicine and radioactive
tracers,
 Various operations of business,

INTERNAL PERSPECTIVE
 Various factors in the company
affecting innovation process,
 Crucial to understand internal factors
 Human resources
 Research and development activities

CONTINUE…
 Management Structure
 leadership support
 Lack of Ideas

CONTINUE…
 Financial Resources,
 Resistance to change,
 Weak change management

RECOMMENDATIONS
 Supporting to staff,
 Encouraging employees for
innovation,
 Rewarding Innovative Employees,
 Learning from other companies,
 Experimenting and evaluating

EXTERNAL PERSPECTIVE
 Registered on Australian Register of
Therapeutic Goods (ARTG)
 Industry maturity,
 Customers need and expectations,
 Rules and regulations for pharmaceutical
industry,

CONTINUE…
 Technology Advancement,
 Expansion of radiopharmaceutical drugs
in other countries,
 Suppliers power

CONTINUE…
 Competition in the industry
 Regulations imposed by government
 New concept of radiopharmaceuticals,
 Difficult to raise more funds

RECOMMENDATIONS
 Use of resources
 Patent of products
 Significant measures
 Maintain suitable legal position
 Stronger Intellectual Property Rights (IPRs)

MARKETING PERSPECTIVE
 Market Dynamics
 Competitors’ actions
 Social and political changes
 Economic environment,
 Limited participation in market research,
 Target market: Physician and doctors,