Purpose:The purpose of this team project is to learn how to work in a team to learn about the elements of strategic planning. Specifically, students will complete an environmental analysis (internal and external). For an organization to do a comprehensive analysis both, the external and internal analysis must be completed. The external environment consists of variables that an organization cannot control whereas the internal environment consists of controllable variable. Assessing the external and internal environment helps develop strategies that create a competitive advantage for an organization. An organization wants to leverage its internal strengths and take advantage of external opportunities. In this project, your team will complete a PESTEL analysis, a Porters Five Forces and a SWOT analysis for BIOTECH. Once your team has completed the analyses, you will discuss the relationship between these assessment tools and the companys vision statement and mission statement in developing a strategic plan. Lastly, you will provide a convincing argument as to why the new project meets the strategic plan and why Biotech is well positioned for the future in the nutraceuticals and supplements market. Skill Building:You are also completing this project to help you develop the skills of research, critical thinking, teamwork, writing and developing three common tools used in business: PESTEL analysis, Porters Five Forces analysis and a SWOT. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions.Skills: Research, Writing, Critical Thinking, Developing a Personal Brand, PESTEL. Outcomes Met With This Project:employ effective planning processes to develop strategies, goals, and objectives in order to enhance performance and sustainability
develop measures and assess outcomes against plans and standards to improve organizational effectiveness
This project is the second of three projects and is a team project. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area.
Instructions:Step 1: Read the Case Scenario:Melanie Malone has often been responsible for the development of new products based on what marketing considers high target markets. Melanie has recently been handed the research results on Biotechs customer demographics. Based on the research, the Marketing Department would like to see Biotech develop products geared to the baby boomer market.From reviewing the research, Melanie noted that Biotech has done little development of the over 50 customer demographics. The current Biotech line has a few joint supplement products and vitamins targeted toward this age group but nothing more. Melanie researched the trends and found high blood pressure, Type 2 diabetes and Alzheimers/dementia were a few of the major health concerns for the over 50 customers. Further research revealed clinically proven effects of hibiscus tea on reducing blood pressure. This finding led Melanie to consider developing a product that was all-natural, good tasting, and competitive with existing teas. The tea would be pre-made and packaged in paper cartons with coated sealant. The plan is to promote the tea as natural products for green accountability. The tea container would include a straw so potential tooth erosion from the acidic tea could be minimized. Melanie also thought about other products that might be appealing to baby boomers. She came across several ideas. The first is a protein bar that made from coconut, dark chocolate, almonds, and blueberries. The bar would contains all-natural products that would increase the protection of brain function through protective antioxidants, thus protecting against dementia and Alzheimers. A second bar would contain natural herbs and would be developed with help from a vendor located in India, which helps lower blood sugar in Type 2 diabetes. Melanie named the test line Boomers Best Bets for the purposes of development. Having come up with samples of the products, costs and overall descriptions of the products, Valerie and the head of marketing were now ready to approach the Strategic Planning Committee with their new product ideas. Melanie put together a team including a person from Marketing, Production, and Quality Control to review the products and decide how to position the products for acceptance by the Strategic Planning Committee. Step 2: Your Role as a Member of the Pitch TeamYour team is part of Melanies Pitch Team and has been tasked with creating a PowerPoint presentation that Melanie will use to pitch the Boomers Best Bets to the Strategic Planning Committee. Step 3: Company ProfileReview Biotech Company Profile as you will use information to complete the analyses especially the internal environment analysis. Step 4: Week 3 Research and Completion of PESTEL TemplateMelanie has given detailed instructions for the PowerPoint presentation below. Make sure to follow the instructions. To better prepare for creating the PowerPoint presentation, there is some work to do. Every team member will research the nutraceuticals and supplements industry to assess the external environment of the business. Then, you will complete a PESTEL analysis using the PESTEL Template. Make sure to thoroughly research and record the reasoning for the PESTEL elements and record the references for the source material.
Step 3: Company ProfileReview Biotech Company Profile as you will use information to complete the analyses especially the internal environment analysis.
Development of PESTLE Analysis 2.3 points
Includes all 6 elements of the PESTLE, explains each element, and provides insightful analysis that emphasizes how each element affects the business and its success, and identifies various stakeholders and how they impact the business or are impacted by the business. All elements correctly presented and reasoning and conclusions made are well supported with the course material, case scenario facts and significant research.This is a group research and I only have to do my part, research using the PESTLE using the scenario above.