Introduction
City pharmaceutical is a company which has invented antibiotic tablets after a certain period of research amongst the various parts of the globe. City pharmaceutical has spent huge capital as well as human efforts to accomplish their target. The key aspect of the tablet is that they are not allergic to any kind of body type. They also are not harmful to anyone in any manner i.e. no side effects are available with these tablets. They could be consumed in any disease to reduce the chances of side effects and allergies from the medicines consumed.
Vision/Mission
City pharmaceutical is planning to take license from the concerned department of the government to deliver these medicines in each and every part so that people could take benefits as soon as possible. City pharmaceutical conducted this research with a view to remove the uncertain deaths due to consumption of wrong medicines. The medicine invented by the researchers of city pharmaceutical is very useful in the situation where patient consumes wrong or expired medicines intentionally or may be by hospital staff’s mistake (Lee, et. al., 2013).
Design Thinking
City pharmaceutical has decided to appoint researchers of the medicines as the permanent member so as to bring rapid improvement in other medicines of the organization too. Along with the appointment of the researchers, management of the city pharmaceutical has decided to appoint a specialized team member of 5 experts who will take care of the demand and supply of the newly invented medicine across the country and outside the country. Management of the company also focuses on the promotion of the medicine because more advertisement and promotion will help in saving various uncertain deaths.
Business objectives
Objective of the business defines target, goal of the organization. For instance, city pharmaceutical has the main objective to decrease the percentage of uncertain deaths due to use of expired medicines, or through any other reason. Apart from this, city pharmaceutical has following main objectives:
- Delivering qualitative medicines: City pharmaceutical has set up their main objective delivering adequate qualities medicines to the public to reduce the chances of uncertain deaths due to consumption of bad quality medicines.
- Economic objectives:City pharmaceutical also believes in conducting all the business activities without harming economy of the country. In other words, management has developed all the policies of the organization in consideration towards the economic policies of the country.
- Expansion:Every business organization performs its activities in the dynamic environment of the market to achieve a good image i.e. goodwill and reasonable profit. Apart from these, city pharmaceutical’s main objective is to grow amongst the other parts of the world through delivery adequate and affordable medicines.
Business Significance
Importance of medicine industry is cannot be defined as since it’s set up, deaths due to lack of adequate measures are decreased. City pharmaceutical has is also working in the same direction through delivering adequate medicines and other qualitative products to the required people to save their precious life. Certain significances of the city pharmaceutical’s invention are:
- The medicine invented by the city pharmaceutical saves the uncertain deaths;
- Antibiotics generally helps the person to cure one disease and impacts on the other body parts but the newly invented medicine does not have side effects;
- It acts as the supportive material after the treatment provided by the experts i.e. doctors;
- Success of the medicine helps the city pharmaceutical to expand and grow rapidly in various parts of the world.
Business products and innovation
City pharmaceutical has invented antibiotic medicines which do not have any kind of side effects and this is also helpful in the situations of the wrong or expired medicines consumed intentionally or without any intention. In other words, it is a lifesaving guard and it is verifies and certified by the authorized laboratories of various countries. City pharmaceutical also deals in various kinds of medicines and machinery and amongst them; their heart machine is very demanded as the innovation of heart machine gives them the boost growth in the medical industry. The heart machine is act as the artificial heart that can be fitted in place of the original heart and it gives an additional life of 5-10 years in successful operation scenarios. After that they invented this antibiotic medicine which again act as the lifesaving guard hence, city pharmaceutical can set up in any part of the world easily.
Business market location
Mainly city pharmaceutical is situated in the United Arab Emirates and they are planning to set up their good image in the medical industry of the UAE through selling their most important innovation in the form of an antibiotic medicine which helps the patients to deal with the various types of diseases as well as it is also useful danger situations. Management of the city pharmaceutical has decided to sell these medicines through adequate channel of distributions so that it could reach to each and every person who requires this pill. They have also adopted techniques of selling online through teeing up with adequate online websites (Dhar & Varshney, 2011).
Entrepreneurial Eco-system
Entrepreneurial eco-system refers to the group of companies, organizations, and firms involved in the particular industry. Under this term, startup companies also forms a place and a union is formed to take appropriate decisions and sharing updates is performed under this system. Policies, rules and regulations formed under the entrepreneurial eco-system should be followed by the entire medical organizations to avoid any kind of glitch in their working procedure (Isenberg, 2011).
Innovative Clusters
Innovative clusters are the group of people involved in the research and findings to create or improve to acquire adequate results. City pharmaceutical’s innovative clusters has invented an improvised antibiotic medicine which does not have side effects as well as it is also acts as the life guard for a patient who has certain kinds of allergies. Innovative cluster is very crucial for a better growth and for the expansion of the company. Bringing regular improvements with new features makes the product attractive and it is also useful for maintaining the demand level of the particular products.
Social Importance
Importance of every business socially and in the practical life describes its success or it is also determination of the survival growth of the particular organization. Business value of the firm effects their way of working and the working procedures are the main source of creating good impact over the society as well as over the market. The more adequate performance delivered by the organization, the more success percentage will rise (Carroll & Shabana, 2010).
Conclusion
This report concludes the importance and features of City pharmaceutical’s new innovation. The innovation of the medicines helps the organization to acquire a better place in the medicine industry as well as it is also very useful for saving unexpected deaths. Innovative clusters and social value of the City pharmaceutical has also discussed under this report.
References
Carroll, A. B., & Shabana, K. M. (2010). The business case for corporate social responsibility: A review of concepts, research and practice. International journal of management reviews, vol. 12 (1), 85-105.
Dhar, S., & Varshney, U. (2011). Challenges and business models for mobile location-based services and advertising. Communications of the ACM, vol. 54 (5), pp. 121-128.
Isenberg, D. (2011). The entrepreneurship ecosystem strategy as a new paradigm for economic policy: Principles for cultivating entrepreneurship. Presentation at the Institute of International and European Affairs.
Lee, K. H., Barker, M., & Mouasher, A. (2013). Is it even espoused? An exploratory study of commitment to sustainability as evidenced in vision, mission, and graduate attribute statements in Australian universities. Journal of Cleaner Production, vol. 48, pp. 20-28.
