Strategy and Serendipity: A Billion †Dollar Bonanza management case study

Mini Case 2 Strategy and Serendipity A Billion clam Bonanza Key Issue / Problem Serendipity on how two youthful medicines were discovered. Realising a dodging turn prohibited from a serendipity.Analysis Researcher develop a new dose for the purport disease, as the drug were a bring round for MED, the manager in Pfizer strategise this and make a this unintended results to into a blockbuster drug.Alternatives Smart computer programmening of changing a failure of a inquiry into an resource of curing a nonher disease.Key decision to make Although a drug discovered to treat drug disease became a failure, and turn come on to solve MED problem, thus a new strategy to utilise it beget to be made Capabilities An unintended strategy, which were to cure the heart disease, turn out as s serendipity of curing a another dysfunction, and able to reelect income of $3 billion dollar per year. Decision Criteria The strategy of the unintended purpose turn out to be a huge sum of turnover. Stakeholders The investors, researchers, patients.Resources The managers of Pfizer, reseachers, executing plan To always have a alternative for a strategy which is still under testing. Vision / Mission / Objectives To create a drug to overcome heart disease To overcome a mistake, and make a seredipity out of it.Assumption The smart team on how they able to strategise the need to the new drug for the MED and generate cash flow stream out of it. intelligence QuestionQuestion 1Serendipity is random from my point of view. Occurrence of this is not predicted or there cogency be not any proven statistic of the occurrence figure. Serendipity means a happy accident or pleasant surprise a happy mistake. Specifically, the accident of finding something good or routineful while not specifically searching for it.Question 2Strategic initiative is any activity a pursues to research and develop a new product and process into new markets. In this issue, it has been said to be an unrealised strategy for both Viagra and Cialis. The direction initiated their new venture into a drug to overcome a heart disease, and it turn to be a cure for ME, where they have the same market, which is the checkup drug supply, but for a different purpose. With its huge demand near the globe, these occurrences have become a serendipity for them.Question 3The model that explains Viagra/Cialis story is scenario planning. In this model, the managers envisions different what if scenario. In the analysis stage, they will be able to cogitate and identify the doable future scenarios to anticipate plausible futures. This is what shows in the case study above, as the turnout from a strategy of marketing a heart disease drug was a failure, they turned it into a alternative for MED cure disease. The serendipity there is because the drug was able to use for MED. IF, the drug was a failure, then they have must have already planned or strategize something to overcome the losses.Questio n 4No, the story of Viagra/Cialis will not inspire me to protrude a strategic management process. I will not be hoping for serendipity happens if my strategy fails, and the utilising the failure as an alternative. I will only plan for a strategy which is practical on that moment and prepare for possible future scenario using different simulations. If something happens as this case, then I would use this opportunity to make use of it and cover the loss for my failure, in a simple way saying it to hedge my position.