Question

After studying the Biocon India case study, describe the strategic choices facing Biocon. What are the key factors in that decision?

Answer 1

Ansoff Matrix

Ansoff matrix provides a business attempts for tracking the dependency of new and existing products in the market. In case of the existing market, the organisation needs to analyse the market penetration and product development. In new market, the organisation needs to analyse, market development and diversification

Deliberate Strategy: Plan for market expansion

The management of Biocon India Groups can organise for a meeting to develop and create appropriate strategies for the expansion of the market share through the product and services

Emergent strategy: Hiring of qualified workers for international market expansion

In order to hire qualified workers for the market expansion, the management authorities of Biocon can organise meetings regarding the recruitment of qualified workers (Ward and Peppard, 2016, p.65). Consequently, an effective organisational culture will be established where there is an existence of coordination, cooperation, stability and trust among the employees and the managerial staffs.

Choice of best-fit strategy and implementation

Some strategies will emerge upon the implementation of the proposed strategies by the employees. In the process of this implementation, the creativity and productivity of the employees will be enhanced. They will gain much experience from the exposure of their skills, expertise and knowledge on a regular basis. As a consideration of the internal and the external factors, strategies for the expansion of Biocon market will enhance the reflex capability of the employees. This will provide the scope for the undertaking of actions according to the emergence of the business situations (Zhou and Li, 2012, p.1090).

Evaluation of the strategic options presented above has enabled the researcher to identify that the internationalisation of the company might be essential yet it needs long-term stratification. For the immediate improvement of the organisational position in the market, the organisation needs to acquire employees that are more skilled and improve its product and service quality (Zhu and Iansiti, 2012, p.88

References

Books

Berman, B.R. and Evans, J.R., (2013). Retail management: a strategic approach. United Kingdom:Pearson Higher Ed

Darroch, J., (2014). Ansoff’s Growth Matrix—In Detail. In Why Marketing to Women Doesn’t Work. UK: Palgrave Macmillan

Hill, C.W. and Jones, G.R., (2013). Strategic management theory. South-Western/Cengage Learning

Kapferer, J.N., (2012). The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers

Ward, J. and Peppard, J., (2016). The Strategic Management of Information Systems: Building a Digital Strategy. John Wiley & Sons

Bowersox, D.J., Closs, D.J. and Cooper, M.B., 2002. Supply chain logistics management (Vol. 2). New York, NY: McGraw-Hill.

Journals

Casadesus-Masanell, R. and Zhu, F., (2013). Business model innovation and competitive imitation: The case of sponsorâ€based business models.Strategic management journal, 34(4), pp.464-482

Rondaâ€Pupo, G.A. and Guerrasâ€Martin, L.Á., (2012). Dynamics of the evolution of the strategy concept 1962–2008: a coâ€word analysis. Strategic Management Journal, 33(2), pp.162-188.

Cheng, B., Ioannou, I. and Serafeim, G., (2014). Corporate social responsibility and access to finance. Strategic Management Journal, 35(1), pp.1-23

Dezsö, C.L. and Ross, D.G., (2012). Does female representation in top management improve firm performance? A panel data investigation.Strategic Management Journal, 33(9), pp.1072-1089

Easterbrook, P.J., Gopalan, R., Berlin, J.A. and Matthews, D.R., 1991. Publication bias in clinical research. The Lancet, 337(8746), pp.867-872

Fjeldstad, D., Snow, C.C., Miles, R.E. and Lettl, C., (2012). The architecture of collaboration. Strategic Management Journal, 33(6), pp.734-750

Grace, C., (2014). The effect of changing intellectual property on pharmaceutical industry prospects in India and China. DFID Health Systems Resource Centre, pp.1-68

Grundy, T., (2011). Rethinking and reinventing Michael Porter's five forces model. Strategic Change, 15(5), pp.213-229

Gulati, R., Puranam, P. and Tushman, M., (2012). Metaâ€organization design: Rethinking design in interorganizational and community contexts. Strategic Management Journal, 33(6), pp.571-586

Henisz, W.J., Dorobantu, S. and Nartey, L.J., (2014). Spinning gold: The financial returns to stakeholder engagement. Strategic Management Journal,35(12), pp.1727-1748

Jayakumar, B.P., (2010). Indian Pharma on sterod-like growth. Business Standard. 1(2), pp.12-15

Kor, Y.Y. and Mesko, A., (2013). Dynamic managerial capabilities: Configuration and orchestration of top executives' capabilities and the firm's dominant logic. Strategic Management Journal, 34(2), pp.233-244

Lavie, D., Haunschild, P.R. and Khanna, P., (2012). Organizational differences, relational mechanisms, and alliance performance. Strategic Management Journal, 33(13), pp.1453-1479

Neffke, F. and Henning, M., (2013). Skill relatedness and firm diversification.Strategic Management Journal, 34(3), pp.297-316

Peteraf, M., Di Stefano, G. and Verona, G., (2013). The elephant in the room of dynamic capabilities: Bringing two diverging conversations together.Strategic Management Journal, 34(12), pp.1389-1410

Walls, J.L., Berrone, P. and Phan, P.H., (2012). Corporate governance and environmental performance: is there really a link?. Strategic Management Journal, 33(8), pp.885-913

Zhou, K.Z. and Li, C.B., (2012). How knowledge affects radical innovation: Knowledge base, market knowledge acquisition, and internal knowledge sharing. Strategic Management Journal, 33(9), pp.1090-1102

Zhu, F. and Iansiti, M., (2012). Entry into platformâ€based markets. Strategic Management Journal, 33(1), pp.88-106

Chen, Y.M., Liu, H.H. and Wu, H.Y.,(2016). Reputation for toughness and anti-dumping rebuttals: Competitive rivalry, perceived benefits, and stage of the product life cycle. Journal of Business Research, 69(6), pp.2145-2150.

Websites

Bioconfoundation.org. (2016). Biocon Foundation - Promote social and economic inclusion by ensuring that marginalized communities have equal access to healthcare services and educational opportunities. Available at: https://www.bioconfoundation.org/ [Accessed on: 10 Jul. 2016]