This process is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. Marketing Strategies One of the first steps in the consideration of new product development and penetration of new product development is to analyze the market opportunity. Basically, we need to find out whether or not this venture is worth it. Our engineering team will need to determine the technical feasibility of the product idea. Once this is complete, our marketing team will need to determine the idea’s prospects in the marketplace.
IRIDIUM CASE 1) Strategic Vision Iridium’s strategic vision is to become a superior global communications network who could overcome the limitations of cellular networks such as physical obstacles or geographical barriers through innovation and extensive research & development projects. They wanted to become the ultimate, sophisticated, high-technology communication system that people would turn to. Leaders of Motorola felt they had a responsibility to support projects by committing a significant amount of resources to new, potentially lucrative ideas. 2) Why did Iridium Fail? Who is responsible?
It is beneficial for entrepreneurs to think more along the lines of all product and service aspects instead of in silos and just thinking about producing “products” alone or “services.” That concept is imperative for entrepreneurs to understand as customer service can be added as an additional component as well to a physical product. That will make the product more attractive. Developments in technology related to current products allow for room for new service concepts to grow, which is
That is why MELF was developed. With MELF Beyschlag aimed at becoming the leading manufacturer of the SMD technology and its applications. Here the corporation made a move against the competition; whereas others do not see advantages of the new technology and stick to old resistor products, Beyschlag redirects its strategic focus from consumer electronics to the professional electronics market. Beyschlag needed stronger partners to push its innovation through. Its top management was excellently building up contact to potential partners’ departments, established trust and maintained personal relationships with them.
Recommendations and suggestions for Medtronic on the level of involvement the company should take to increase the likelihood of long term success are included in the conclusion. Table of Contents 1 Why invest outside of the U.S? 3 1.1 What are emerging markets? 3 1.2 Porter’s four determinants 3 1.2.1 Factor Conditions 4 1.2.2 Demand conditions 4 1.2.3 Related and supporting Industries 5 1.2.4 Strategy, structure and rivalry 5 1.3 FSAs/CSAs 5 2 International Business Environments 7 2.1 Political environment overview and management 7 2.2
(b) How would you implement your recommendation? Enter the market as soon as possible, thus leveraging the early mover advantages such as brand loyalty and market share. Obtain the patent for the technology so that the competitors cannot copy the technology and if they did copy they cannot sell it till the patent has expired. Establish partnerships with U.S subsidiaries who know how the market operates and have some experience in reaching out to the market. Conduct studies with medical professionals in the U.S such as surgeons so that the awareness of the CT scanner’s superior technology reaches out faster and thus recommended by medical professionals.
R. Reid visited was Switzerland who has very good universal healthcare system. Before they used to have similar coverage as US. if somebody lost his job he will lose his coverage. Swiss come up with a system called LAMAL everybody has to buy it by giving back a very good healthcare service for all. The current Swiss president Pascal Couchepin was not happy with LAMAL when it started 10 years ago, but know he likes it.
Transnational Electronics Corporation (TEC) has been after Shang-wa and Avral Electronics has been after Lester. Recently, Lester is interested in merging with Shang-wa, as it would make the firm more successful. In this paper, the issues and opportunities for the Lester Electronics scenario will be identified; stakeholder perspectives and ethical dilemmas will be discussed; and an end-state vision and a gap analysis will be explained. Situation Analysis Issue and Opportunity Identification If this merger occurs, both Shang-wa and Lester Electronics need to take the opportunity to consider several important factors that will affect the future of the combined firm. The following sections outline the issues and opportunities in the Lester scenario related to specific financial concepts.
Knowledge creation and acquisition processes The development and circulation of new knowledge, offers a dynamic strategic opportunity. There are three mechanisms, organisational learning, knowledge creation and acquisition, and knowledge transfer 3. Knowledge transfer processes In order for knowledge to be utilized effectively it needs to be shared with the relevant people. Questions and Answers Question 1: What three methods has the company introduced to exploit its research base? The first method Philips has introduced is to link the six divisions of the company with its scientists.
Biocon then decided to develop proprietary drugs. Positioning was always based on the product features and the initial strategy was to continue the company on a growth path by entering new product markets where it could leverage its existing capabilities. There was a continuous evaluation and the company was quick to spot when the market for a product was about to reach the maturity stage Biomab would allow Biocon to learn about the mammalian cell technology, which is the future of biotech industry. In addition it would give Biocon a chance to develop a new market and build new research and marketing capabilities, essential for ensuring the long term success of the company. Biocon would also get the distinction of being the first company to launch a proprietary drug in India through Biomab.