Strategies to be adopted by Gene One
Intensive Embrace of Technology
In the current technological environment which becomes more and more dynamic, the success of firms depends to a greater degree on the extent to which they embrace the technology. Firms which use new technological developments have been found to report high outputs and quality of the products and services which satisfy the needs of the customers.
Gene One seems to be under the leadership of ambitious and talented leaders who have the company’s welfare at heart. This is a right leadership environment, thus the right strategies are required to enhance the achievement of the company’s objective of being market leaders.
The changes in lifestyles and consumer needs and preferences call for technological improvement in the production processes. By using high and intensive technology, Gene One could enhance the quality of its products. This strategy is suitable for Gene One considering the nature of the industry they are in and the nature of their products.
The Biotech industry requires players to improve their survival through adoption of high technology. This involves embracing the right technology so that changes and advancement in technology do not render production processes outdated. Many firms are known to fail because of implementing the wrong technology which does not stand the test of time (Robbins et al., 2011).
This strategy will be greatly enhanced through the research in the technological field. The company should invest in researching on the various technological techniques in the Biotech industry.
A strong technological department is thus recommended in this case. The company should be willing to finance the technology department to contribute to the success of this strategy. This will involve a research on what the market players are adopting and the degree of the profit achieved. The technology adopted should increase the production of high quality products (Yukl, 2009).
This strategy will help Gene One in achieving high customer satisfaction which will lead to customer loyalty. It will thus enhance the expansion of the firm’s customer base and, consequently, boost its market share. Customer loyalty will also lead to repeated purchases, thus increasing the firm’s profitability.
It is every company’s objective to improve its production and returns through which financial stability is achieved. The firm’s profitability will, therefore, depend on the extent to which the customers prefer to buy its products over those of the other companies. In order for the firm to achieve its objectives within the 36-month maximum deadline, it is to ensure that customer satisfaction is attained through their products (Robbins et al., 2010).
Technological superiority also helps in enhancing positive company image. A firm which employs constructive technology will attain positive public image. At this stage when Gene One is planning to be the market leader, its reputation will play a major role in achieving this objective.
This strategy could be implemented through the use of high technology means of production and using equipments and facilities which are technologically superior. It can be also implemented through refurbishing the technological department to ensure competent personnel are in charge of the company’s operations (Yukl, 2009).
This strategy will lead to the desired gains since it will improve the quality of the firm’s products and services. The adoption of intensive technological methods also leads to high outputs.
This is in line with the firm’s desire to increase its market share and customer base. This strategy supports the firms desire to be innovative for the success in the process of change and development depends on the extent to which a firm adopts the right technology. Technology has been known to enhance innovation, thus this strategy will lead to the firm being innovative (Robbins et al., 2011).
High Quality Human Resource
The success or failure of any company depends on the quality of the workforce it employs. A company with high quality human resource is always successful due to high quality output. For Gene One to achieve its objectives, it is proposed to adopt this strategy. The company should employ personnel of highly qualified workers with vast skills and experience in the Biotech industry. This will lead to high quality output and more customer satisfaction.
The quality of service offered to customers depends largely on the quality and experience of a company’s staff. By employing high quality human resource, Gene One will also improve its public image and reputation. This will have a great impact on the market segment it currently serves and the potential market share (Robbins et al., 2011).
This strategy will involve proper recruitment, selection, training and development of employees. It, therefore, means that the company should make its human resource department improve. This strategy could be implemented through support to this department. This will enhance effective and efficient recruitment practices. The company could use drives, talks in educational institutions and online recruitment means.
This will help in pooling a wide variety of applicants from which the company can choose the desired talents to be included in its workforce. Proper selection should also be applied by the company which will lead to choosing the right employees. The selection criteria should be multidimensional, and the selected candidates should have a wide variety of talents which will contribute to the firm’s success (Yukl, 2009).
Gene One should train its staff in a manner that enhances competitiveness in the market. Proper training is known to instill into workers the right company’s culture, thus enabling consistency in achieving the aims and objectives by every staff member. This also ensures that the firm has the employees with the right skills available in the market, which contribute to its reputation through their quality work.
The company should also organize workshops and talks for its human resources to enable exchange of ideas and employee development. This should be done irrespective of employees’ departments to improve interdepartmental harmony and work relations (Yukl, 2009).
This strategy of employing high quality human resources will lead to the desired outcomes since it will aim at improving the quality of output. The quality of output, as stated above, greatly depends on the quality of staff employed. High quality human resources also lead to high customer satisfaction. This could result in the desired outcomes since it increases customer loyalty leading to repeated purchases and, therefore, enhancing the profitability of the firm. This strategy also meets Gene One’s desire to be innovative since high quality personnel bring about new fresh ideas. The staff will also determine the creativity, thus meeting the firm’s desire to be innovative.
Conclusion
The above two strategies will allow Gene One to become more innovative and thus help in achieving its objectives which include market leadership. High quality of human resource and intensive embrace of the right technology will enable the company to implement the desired changes within its operations and products, thus achieving growth and development. This will also strategically position the firm in the industry enhancing its competitiveness.
References
Robbins, S.P, Judge, T. A. & Campbell, T. T. (2010). Organizational Behavior. 14th edn., New Jersey: Financial Times Prentice Hall.
Yukl, G. (2009). Leadership in Organizations. 7th ed., New Jersey: Prentice Hall.