Good Research Paper On What Is The Biggest Downfall Of Efficiency Innovation?
Type of paper: Research Paper
Topic: Innovation, Business, Time Management, Company, Efficiency, Project, Organization, Products
Management depends on effective policy formulation. Through policy formulation can implement the efficiency innovation approach towards successful outcomes. Thus through effective operational policy statement, successful implementation of the policy is bound to prevail. Hence, this paper will evaluate efficiency innovation as per the case questions.
Majority of the pharmaceutical operations are inefficient and costly. As compared to other industries, the rate of introduction of novel engineering process design principles, novel measurement and control technologies and quality assurance and so forth is low. Thus, it has become mandatory that companies invest into efficiency innovations approach towards plausible performance mandate (Terry, 2009). The opportunities for the improvement of efficiency and quality assurance through an improvement in the focus and control have become mandatory towards effective outcomes. However, efficiency innovations approach faces diverse challenges. The main challenge evident in the implementation of efficiency innovation is the prospect of expensive operations approach. From the analysis of different organization in the pharmaceutical industry, investing to the evident approach entails extensive investment into research and development. Majority of the pundits emphasize that research and development entails heightened investment in regards to finance (Terry 2009). Financial investment into research and development denotes ensuring that the company can develop new products and services that will enhance efficiency in performance. Innovation and plausible operations is highly mandatory to the organization since it is bound to catapult the operations of the organization.
Efficiency innovation development is needed in order for pharmaceutical companies to prevent costly mistakes such as letting a project linger when it has little chance for succeeding. Where can companies get this information up front
Consolidation of procurement is a plausible strategy that can be internalized in the operations of a company. A network based procurement group in the handling, airline relations coupled with 3rd party capacity in pharmaceutical industry (Peter, 2001). As such, the company should invest highly into consolidating its procurement operations. Through the consolidation of their procurement operations, the company is highly likely to increase its reliability in operations. As such, a more comprehensive approach in operations will enhance the quality of services and products issued by the different organizations. Consolidation of procurement is highly mandatory for the organizations since it presents an avenue for effective handling of the resource requirements of the organization. Resource needs of the organization denote human, finances and so forth that are imperative for the efficiency innovation development (Porter, 2005). The inculcation of efficiency innovation development emanating from the evident consolidation of procurement will ensure networking and fleeting within a plausible mandate. Under the above strategic decision, the company can incorporate three main strategies that are imperative in ensuring the reduction of complexities in operations. A more joint based approach in fleet planning is highly important. Through joint approach in planning, the company can launch effective packages for the prospective consumer market. Additionally, the company can incorporate a combined long-haul planning. Furthermore, a best approach in sharing the short haul network planning will ensure a more holistic involvement of the various stakeholders.
Brian what are the ways for companies to avoid losing money from other companies utilizing efficiency innovations
Pundits affirm that monitoring and appraising are crucial techniques in ensuring successful outcomes of the project and ensuring that the notion of losing company by the various companies does not prevail. Admittedly, each and every project to be undertaken should internalize systems that ensure formidable monitoring and appraisal of the projects. Accordingly, appraisal and monitoring of a project develops growth and analytical success in operational performance. The correct approach in monitoring and evaluating of a project is through the deterministic and emphasis on reductionist mandate and the detailed documentation strategy (Peter 2001). Accordingly, the aforesaid two approaches, the implementation of work structures, activity description and evaluation is incorporated by the case business. Additionally, the breakdown of the project into the several controllable mechanisms results into an effective resource distribution mandate in the business. Implementation of the work breakdown as done in the case study, the business will manage to ensure a step based analysis of the various subdivisions of the project throughout its time frame (Roberts 2012). Through the combination of documented approach and the deterministic reductionist approach, a brief project is necessitated that is important to ensure efficient and effective monitoring and appraisal.
Tony there are four opportunity categories in the portfolio approach. Repurchase replacement, expansion and innovation. How does a company know which ones to use or do that all have to be used as the process unfolds?
Roberts (2012) asserts that feasibility is a crucial tool in the analysis of both real-time strengths and problems that may arise which will assist in formulation of solutions pertaining to the portfolio approaches. Conversely, in instances when the outcomes of feasibility study are suitable, implementation progresses. Admittedly Roberts (2012) states that a SWOT analysis plays a huge role in the feasibility study of a given solution of options for the process that is to be undertaken. SWOT entails an analysis of the strengths, weaknesses, opportunities and threats of the project that is to be undertaken by a business (Terry, 2009). Thus, from the evident solutions, the present feasibility analysis is bound to present the following facets for evaluation by the company in regards to strengths and threats to process choice;
Access to expertise advice
Motivated employees due to the strategy not to lay off workers
Access to pre-set teams
Risks such as commitment, time constraints and so forth that may arise during relocation
Improper strategies in monitoring and evaluating the project
Tony utilizing all of your knowledge from the MBA course, what is the best method to position products that are similar and diverse so that you have an opening to introduce something new at the same time that would not normally get any attention
The development of a new product needs the implementation of a plausible product development process. A plausible multi-phase process should entail:
The main techniques that an organization can incorporate emanate from the various phases that a new product has to pass through to ensure acceptability. Thus the phases in new product development include;
As the first phase, it entails a vast detailed functional prototype version of the various sportswear are created (Wright & McMahan 2011). The marketing staff comprehends the functionality of the product coupled with the value statement that will be inculcated to detail what the sportswear brings to the US market.
Review and acceptance phase
As the second aspect, the organization has to inculcate a committee that comprises of the various managers who evaluate the design of the product. The review and analysis of the plausibility leads to the next phase (Wright & McMahan 2011).
The product should be presented to a sample of the market. Comprising of individuals from different customer segments prevail (Wright & McMahan 2011). Accordingly, through sample respondent remarks, the organization can deem whether the product can be launched by the organization.
Regulatory test and certification
US regulatory certification should be sought to ensure that the new product conforms to the regulatory guidelines set in US.
Business operations depend on effective plausible operational mandate. Accordingly, from the evaluation of different organizations, efficiency innovations have become an operational approach towards successful outcomes. Company management should comprehend the dynamics of efficiency innovation for effective and profitable outcomes.
Peter, M. A. 2001. "The Cornerstones of Competitive Advantage: A Resource-Based View," Strategic Management Journal, 14, pp. 179-191.
Porter, M.2005. Competitive Strategy. New York, NY: Free Press.
Roberts, P. (2012). Strategic project management: Creating the conditions for success. London: Kogan Page Publishers.
Terry, S. (2009). Strategic project management made simple: Practical tools for leaders and teams. New York: John Wiley & sons.
Wright, P. M. & McMahan, G. C. 2011. "Theoretical Perspectives for Strategic Human Resource Management," Journal of Marketing, 18, pp. 295-320.