Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave
Question:
Welcome to Biotech!

The assessment projects for this class will examine different facets of the leadership of Biotech Health and Life Products, Inc. You will be exploring leadership within Biotech with the driving question of “what skills does a Biotech leader need to lead the company now and in the future?”

History

Wilford Barney was a young apprentice working for Peter Ulan, owner of a small apothecary shop in Yonkers, New York. During his apprenticeship, Barney created a general energy elixir that was based on a home remedy of his mother’s back in Ireland. The elixir was produced specifically for many of Ulan’s special customers. Made of all natural ingredients the elixir provided B12 and other vitamins to promote  a healthy immune system. The energy boost was noticeable after only a week’s use. The reputation of the elixir grew.

In 1922, Barney took over Ulan’s apothecary shop renaming the business, Barney’s Apothecary. At that time, Barney decided to bottle his elixir and sell the formula to everyone rather than selected customers. Barney also gave bottles of the elixir to local peddlers who sold the product along with their wares receiving a commission on each bottle they sold. By 1929, the product was well known in Yonkers. Encouraged by the success in Yonkers Barney decided to branch out to New York City.

In 1932, Barney built a small manufacturing plant near the store where he mixed and bottled the elixir for sale. By 1934, Barney expanded sales by putting the elixir in a quarter of the apothecary shops in New York City. Sales were booming and customers inquired about other products that Barney’s had.

In 1936, Barney started a new product called Night Relief, another of his mother’s recipes. This product offered relief from night sweats and anxiety caused by menopausal symptoms or nerves. When this product proved a “secret success” with the ladies, Barney decided to bring his mother, Irene, from Ireland, and put her to work making new natural products. With his mother’s help, Barney grew the business into a small but successful manufacturer of natural “life products”. Barney coined “life products” because the products tracked natural life events in the human body and attempted to improve the customer’s discomfort in dealing with them.

The name of the company was changed to Barney’s Elixir and Life Products. The business continued to grow and with his mother’s death in 1938 the company had a gross revenue of $178,000 a year. The depression took a toll on company profits but people still needed the boosts to their health and were able to afford Barney’s products as opposed to the medicine offered by doctors and hospitals. During World War II the company supplied the troops with a natural caffeine (Stay Clear) product that would keep soldiers awake for long periods of time and heighten their mental alertness. Government contracts derived from Stay Clear boosted the revenue of the company considerably and ushered in a new wave of interest of natural products.

By 1950 Barney turned over the reins of the daily operations of the business to his children but remained on the Board of his family owned company. By this time, the company had expanded its manufacturing plants and sales nationally to include Detroit, Michigan, Los Lunas, New Mexico, Chicago, Illinois and Atlanta, Georgia. The revenue of the company was now close to 2.5 million dollars.

In the 1960’s the social climate in America had changed and pharmaceutical companies took on greater importance in the treatment of people’s health. The discovery of new drugs and better health care shifted the confidence in the American perspective away from natural products to traditional western medicine. Although the counter culture of America still supported natural supplements, popularity for Barney’s products waned.

In 1965, Wilford’s granddaughter, Geraldine, took over the Research and Development Department (R&D) after receiving a degree in chemistry from Harvard. She had been trained as a child by her grandmother, Wilford’s mother, and knew how the recipes should look. However, she had new ideas and with the approach of the 1970’s, was ready to join the “Anjolie perfume commercial” lifestyle depiction of a 70’s women that “they could bring home the bacon and fry it up too.”

Due to the downturn in sales by 1970, the company turned to other countries for its sales base. Starting in Germany and other European countries where natural products are highly credible, Barney began to license the sale of the company’s products to local manufacturers. The name recognition grew and by the 1980’s the company was grossing over 4 million dollars in gross sales. The company moved to overseas operations and manufactured in Germany. Wilford Barney died in 1981 shortly after seeing his first grandchild, Maximillian Barney, take over the President’s positon of the company.

Studying the trends in the 1990’s about the resurgence of natural health products “Max” as he liked to be called, decided it was time for Barney’s to focus on the new interest in homeopathic and natural products especially at home in America where sales were static. In 1996, Max, wanting to get a sleeker and more modern feel to the company’s products changed the company name and logo. No longer was Barney’s a mom and pop operation but now were part of the Biotech nutraceutical market. Barney’s Elixir and Life Products was now Biotech Health and Life Products. While the products would continue to show the old Barney logo, for name recognition the new logo would take prominence on the packaging.

By 2000 the company was grossing about 1.1 billion in sales with an increase in market share. By 2012, Biotech had a 20% market share of the supplement business with approximately $20 billions of sales. The growing interest in the bio-nutraceutical marketplace was catching the attention of the big pharmaceutical companies. Glaxo, Merke and Dupont began a massive shift to the new biotech business products.

Currently sales for the company are at $35 billion. Maximillian Barney is still President and CEO. The stock is still held by the family and all senior management positions are held by family members.

Current Company Vision: To help provide everyone with the healthiest life possible in the most natural of ways.

Demonstrate leadership skills by communicating a shared vision, motivating and empowering others, and creating a culture of ethical decision-making and innovation develop measures and assess outcomes against plans and standards to improve organizational effectiveness.

Answer:
Introduction

The development of the organization, BIOTECH, is dependent on the identification of the different aspects of change that will help in improving the functioning of the business. The mission of the organization is to develop products that are safe, effective and affordable with the view of enhancing customer’s experience of a healthier life.  The paper will be focusing on the identification of the organizational structure, culture and the products and services that are created by the organization as per the analysis of the needs of the customers. Lastly, the research will also focus on creating a communication plan that will be helping the business to bring forth relevant modifications in its systems. 

Organizational Structure 

The organizational structure of the organization consists of the CEO of the business who takes the overall decisions of the firm’s activities while considering the reports that are produced by the director executives of South America division, North America division, European division and Asia Division. It has helped the business in conducting the functions as per the different market changes in the diverse regions. On the other hand, the R&D, Purchasing, Finance, HR and IT departments working under the respective regions has helped in undertaking continuous innovation in the functions that are planned by the business. Decision making functions of the organization is supported through the knowledge of the internal and external contingencies that are faced by the business while operating in the diverse markets. The R&D department of the business has helped in undertaking continuous innovation in the line of products as per the analysis of the needs of the customers. On the other hand, the IT department of the organization establishes the link between the organizational management and the customers in order to understand their preferences. The data that is collected by the IT department assists the R&D department of the business in undertaking modifications in the product design. The HR department identifies the staffing needs of the business in order to support the objectives of the firm. on the other hand, the finance department helps the organizational management in understanding the financial position of the business through research on cash flows and expenditures. It assisted the organization in understanding the key areas where change is required to be induced in order to enhance the functioning of the business. Purchasing and sales department of the organization has helped in identifying the resource needs and the capabilities of the organization while operating in the diverse markets (Tax,   McCutcheon  & Wilkinson,  2013). Therefore, the integration of the different departments has helped the management in undertaking proficient decision making in order to enhance the operations. 

Organizational Culture 

The organization facilitated collaborative decision making system through involving the employees in the process. It has helped the organizational management in inducing positive culture in the same while operating in the diverse regions. The collaborative decision making system of the business has helped in facilitating the smooth functioning of the business. On the other hand, the organization has induced customer-centric culture in the organizational functioning, which has helped the same in enhancing the processes through the identification of the specific inclination of the customers. The understanding of the preferences of the customers has helped the R&D department of the business in developing products.

The continuous innovation approach of the organization is facilitated through the understanding of the needs of the customers while operating in the diverse markets. Therefore, the induction of positive culture in the organizational context and the coordinative functioning of the workforce with the management while undertaking a decision have helped the business in bringing forth improvements in the firm’s performance (Zeynep Ata  & Toker,  2012). The smooth functioning IT department of the organization has helped the same in understanding the preferences of the customers. Understanding the preferences of the customers has supported the organizational objective of adhering to the   healthcare needs   while designing and developing their line of products. It has added to the competitive advantage of the business while operating in the diverse regions (Spiess et al., 2014).

Active participation of the employees in the decision making and operation processes of the business has assisted the venture in undertaking the smooth functioning of the same while operating in the diverse economies. The chief objective of the organization is to sustain in the competitive markets, which is supported through continuous innovation and Customer- Centric approach of the same.  On the other hand, the active involvement of the employees in the processes that are designed by the organizational management has helped the business  in undertaking the smooth functioning of the systems.   

Breakdown of Products and Services 

The different products that are developed by the organization are Protein and Fitness, Personal Care, Nutraceuticals, Vitamins and Food Supplements as per the identification of the requirements of the customers. The products that are developed by the organization are based on the customer centric needs, which have helped the business in undertaking continuous modifications in the business models. The involvement of the employees in the different processes that are designed by the business management has helped the same in undertaking the smooth functioning of the product development and operations (Meng et al., 2018). The identification of the need of the customers and thereby framing the business propositions has provided the venture with a wider scope of expanding in the international markets. 

Communication Plan 

Goals

Activities

Timeframe

Communication medium

Rationale

Promote innovation in the products

  1. Analyzing the reports that are developed by the IT department of the business to identify the requirements of the customers
  2. Undertaking an analysis of the required funds in order to support the development of the new line of products as the business offering
  3. Making the R&D department aware of the different changes in the needs of the customers

2- 3 months

Emails, Social media platforms

The innovation in the line of products will be helping the organization in gaining a competitive advantage in the market over the existing players

Formulation of a promotion strategy in order to expand the organization in Saudi Arabia

  1. Consultation with promotional and advertising agencies
  2. Making the sales department aware of the objectives of organizational growth

7- 9 months

Emails, newsletter, social media platforms

Market expansion will be helping the organization in upholding the efficacy of the business sustenance while designing the products as per the needs of the customers. 

 

References

Meng, F. J., Shwartz, L., Galambos, G., Su, Z., Zheng, J., Xu, J., ... & Liu, X. (2018, March). Opportunities and Challenges Towards Cognitive IT Service Management in Real World. In 2018 IEEE Symposium on Service-Oriented System Engineering (SOSE) (pp. 164-173). IEEE.

Spiess, J., T'Joens, Y., Dragnea, R., Spencer, P., & Philippart, L. (2014). Using big data to improve customer experience and business performance. Bell labs technical journal, 18(4), 3-17.

Tax, S. S., McCutcheon, D., & Wilkinson, I. F. (2013). The service delivery network (SDN) a customer-centric perspective of the customer journey. Journal of Service Research, 16(4), 454-470.

Zeynep Ata, U., & Toker, A. (2012). The effect of customer relationship management adoption in business-to-business markets. Journal of Business & Industrial Marketing, 27(6), 497-507.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Essay On Biotech Health And Life Products Introduction. Retrieved from https://myassignmenthelp.com/free-samples/bmgt365-organizational-leadership/the-development-of-the-organization-biotech.html.

"Essay On Biotech Health And Life Products Introduction." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/bmgt365-organizational-leadership/the-development-of-the-organization-biotech.html.

My Assignment Help (2020) Essay On Biotech Health And Life Products Introduction [Online]. Available from: https://myassignmenthelp.com/free-samples/bmgt365-organizational-leadership/the-development-of-the-organization-biotech.html
[Accessed 23 July 2024].

My Assignment Help. 'Essay On Biotech Health And Life Products Introduction' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/bmgt365-organizational-leadership/the-development-of-the-organization-biotech.html> accessed 23 July 2024.

My Assignment Help. Essay On Biotech Health And Life Products Introduction [Internet]. My Assignment Help. 2020 [cited 23 July 2024]. Available from: https://myassignmenthelp.com/free-samples/bmgt365-organizational-leadership/the-development-of-the-organization-biotech.html.

Get instant help from 5000+ experts for
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

loader
250 words
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Plagiarism checker
Verify originality of an essay
essay
Generate unique essays in a jiffy
Plagiarism checker
Cite sources with ease
support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close