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

Mini Case 2 Strategy and Serendipity A trillion Dollar Bonanza Key Issue / Problem Serendipity on how 2 modern medicates were discovered. Realising a strategy acidify forbidden from a serendipity.Analysis Researcher climb a pertly drug for the heart disease, as the drug were a cure for MED, the manager in Pfizer strategise this and bushel a this causeless results to into a blockbuster drug.Alternatives Smart planning of changing a failure of a research into an alternative of curing a nonher disease.Key decision to make Although a drug discovered to treat drug disease became a failure, and ferment out to solve MED problem, thus a new strategy to utilise it have 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 open to generate income of $3 billion dollar per year. Decision Criteria The strategy of the unintended plan turn out to be a huge entireness of turnover. Stakeho lders The investors, researchers, patients.Resources The managers of Pfizer, reseachers, Implementation 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 sufficient to strategise the shoot to the new drug for the MED and generate cash flow stream out of it. Discussion QuestionQuestion 1Serendipity is random from my point of view. Occurrence of this is not predicted or thither might be not any proven statistic of the occurrence figure. Serendipity style a happy accident or pleasant surprise a fortunate mistake. Specifically, the accident of finding something good or useful epoch not specifically searching for it.Question 2Strategic initiative is any activity a pursues to explore and develop a new product and process into new markets. In this case, it has been said to be an unrealise d strategy for both sildenafil and Cialis. The management 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 alike market, which is the medical drug supply, but for a different purpose. With its huge hire around the globe, these occurrences have become a serendipity for them.Question 3The model that explains Viagra/Cialis level is scenario planning. In this model, the managers envisions different what if scenario. In the analysis stage, they will be able to brainstorm and identify the possible future scenarios to anticipate plausible futures. This is what shows in the case study above, as the turnout from a strategy of merchandise 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 plotted or strategize something to overcome the losses.Question 4No, the story of Viagra/Cialis will not animise me to design 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 totally plan for a strategy which is practical on that moment and civilize 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.