Novo Nordisk A S Designing for Diabetics Epilogue Case Solution

The Harvard Business Review published a case study that primarily focuses on Novo Nordisk A S Designing for Diabetics Epilogue. The following case solution has been designed to give the reader an overview about the business world along with a clear understanding of its growth dynamics. Recently, Novo Nordisk A S Designing for Diabetics Epilogue has been subjected to strategic as well as managerial problems that require immediate attention so that they can be resolved to allow future growth, expansion, and competitive edge within the marketplace. This case study solution is being written to provide a strategic solution to Novo Nordisk A S Designing for Diabetics Epilogue using various appropriate tools and frameworks. Harvard Business Review’s case studies involve a central problem that is faced by a particular company. The problem identified involves strategic and managerial implications for the company. Therefore, it is important for readers to critically identify the problem Novo Nordisk A S Designing for Diabetics Epilogue faces. Moreover, it is also essential to highlight the key stakeholders that are impacted and influenced by the problem identified.

External Environmental Analysis

The external environment holds significant importance for Novo Nordisk A S Designing for Diabetics Epilogue to ensure that the company is able to respond to all the changes in the macro-environment. This is because Novo Nordisk A S Designing for Diabetics Epilogue cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Novo Nordisk A S Designing for Diabetics Epilogue will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Novo Nordisk A S Designing for Diabetics Epilogue.

• It is important for Novo Nordisk A S Designing for Diabetics Epilogue to analyze the pressure groups, and social environment activists. The company can make close collaborations with these groups to achieve company goals (Wang, Wang, & Shi, 2022).

• High restrictions on trade and high levels of taxes can contribute to the complex business environment for Novo Nordisk A S Designing for Diabetics Epilogue by impacting imports and exports.

Economic

• Novo Nordisk A S Designing for Diabetics Epilogue can benefit from wide-range opportunities in business growth by operating in developing economies (Munro, 2017).

• High GDP can determine the long-term growth strategies of Novo Nordisk A S Designing for Diabetics Epilogue, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Novo Nordisk A S Designing for Diabetics Epilogue with more investment opportunities.

• The flexibility in the labor market allows Novo Nordisk A S Designing for Diabetics Epilogue to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Novo Nordisk A S Designing for Diabetics Epilogue to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Novo Nordisk A S Designing for Diabetics Epilogue to develop and align communication as well as marketing strategies accordingly.

• Novo Nordisk A S Designing for Diabetics Epilogue has been successful in understanding the norms and cultures of different countries by developing local teams and partnerships (Hueske, Endrikat, & Guenther, 2015).

Technological

• The adoption of innovative marketing techniques that involves communication technologies has allowed Novo Nordisk A S Designing for Diabetics Epilogue to collaborate successfully with consumers.

• The company has stayed ahead in the market, and can significantly increase its market share by placing its major focus on emerging technologies (Akpoviroro & Owotutu, 2018).

• Novo Nordisk A S Designing for Diabetics Epilogue should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Novo Nordisk A S Designing for Diabetics Epilogue to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Novo Nordisk A S Designing for Diabetics Epilogue should adopt eco-friendly products to establish better relationships with the stakeholders.

• Novo Nordisk A S Designing for Diabetics Epilogue can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Novo Nordisk A S Designing for Diabetics Epilogue should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Novo Nordisk A S Designing for Diabetics Epilogue as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Novo Nordisk A S Designing for Diabetics Epilogue can gain a competitive advantage, and can position itself strongly in the market by protecting intellectual property laws.

Porter’s Five Forces Analysis

Threat of New Entrants

• It is difficult to achieve economies of scale in Novo Nordisk A S Designing for Diabetics Epilogue’s industry, making it a weaker force for new entrants.

• There are high capital requirements in the industry. This makes it difficult for new businesses to set up their companies, and compete against Novo Nordisk A S Designing for Diabetics Epilogue.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Novo Nordisk A S Designing for Diabetics Epilogue can focus on innovation to differentiate itself from its competitors (H. Th. Bruijl, 2018).

• There are strict legal requirements to join the industry in which Novo Nordisk A S Designing for Diabetics Epilogue operates, making it difficult for new entrants to enter the market.

Bargaining Power of Suppliers

• The bargaining power of suppliers in the industry is weak.

• Novo Nordisk A S Designing for Diabetics Epilogue operates in an industry with a higher number of suppliers. This means that suppliers do not have much control over their prices.

• Standardized products that have low switching costs are provided by suppliers allowing buyers like Novo Nordisk A S Designing for Diabetics Epilogue to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Novo Nordisk A S Designing for Diabetics Epilogue. The company can also switch suppliers for more reasonable pricing.

• Novo Nordisk A S Designing for Diabetics Epilogue can benefit from a variety of suppliers as it can have multiple suppliers for its various geographical areas (Cho, Ke, & Han, 2019).

Bargaining Power of Buyers

• The bargaining power of buyers in the Novo Nordisk A S Designing for Diabetics Epilogue industry is weak.

• There is a high product differentiation in the industry, making it difficult for buyers to switch to alternative firms.

• Novo Nordisk A S Designing for Diabetics Epilogue can come with differentiated and innovative products to attract more buyers of the industry (Zhao, Zuo, & Wu, 2016).

• Buyers of this industry has low incomes. This means they prefer to purchase items at lower prices, making them more price sensitive. Organizations like Novo Nordisk A S Designing for Diabetics Epilogue can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Novo Nordisk A S Designing for Diabetics Epilogue operates.

• Expensive substitutes are available in the industry of Novo Nordisk A S Designing for Diabetics Epilogue, making it difficult for buyers to switch to those substitutes (Aithal, 2016).

Rivalry Among Existing Firms

• The rivalry among existing firms is moderate to weak.

• There are few competitors in the industry in which Novo Nordisk A S Designing for Diabetics Epilogue operates.

• A large market share is enjoyed by fewer firms in the industry. This means that more competitive actions will be made to become leaders in the market (Seema, 2016).

• The industry in which Novo Nordisk A S Designing for Diabetics Epilogue operates has highly differentiated products, making it difficult for companies to win each other customers.

• Novo Nordisk A S Designing for Diabetics Epilogue can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Novo Nordisk A S Designing for Diabetics Epilogue can use internal environmental analysis to identify and evaluate the competitive positioning of a company in the business environment. This involves conducting a SWOT Analysis that can help Novo Nordisk A S Designing for Diabetics Epilogue to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Novo Nordisk A S Designing for Diabetics Epilogue has a strong distribution network that has allowed it to make its products available to large customers within the given timeframe.

• A strong presence on social media platforms has allowed Novo Nordisk A S Designing for Diabetics Epilogue to have a high level of customer engagement (Rizaldi, 2015).

• Novo Nordisk A S Designing for Diabetics Epilogue has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Novo Nordisk A S Designing for Diabetics Epilogue has a strong brand image in the market.

• A low-cost structure of Novo Nordisk A S Designing for Diabetics Epilogue has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Novo Nordisk A S Designing for Diabetics Epilogue is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Novo Nordisk A S Designing for Diabetics Epilogue has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Novo Nordisk A S Designing for Diabetics Epilogue on its research and development is comparatively less to other competitors of the market.

• Novo Nordisk A S Designing for Diabetics Epilogue uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Novo Nordisk A S Designing for Diabetics Epilogue operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Novo Nordisk A S Designing for Diabetics Epilogue. This makes it difficult for the employees to adjust with the different workers who belong to different backgrounds.

Opportunities

• Since the online shopping has increased significantly, Novo Nordisk A S Designing for Diabetics Epilogue can take it as an opportunity to expand its online presence.

• Novo Nordisk A S Designing for Diabetics Epilogue can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Novo Nordisk A S Designing for Diabetics Epilogue can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Novo Nordisk A S Designing for Diabetics Epilogue to expand its operations in multiple countries.

• Novo Nordisk A S Designing for Diabetics Epilogue can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Novo Nordisk A S Designing for Diabetics Epilogue, can place its major focus on making such products (E.Quezada, A.Reinao, & I.Palominos, 2019).

Threats

• In recent times, there has been an increase in the bargaining power of suppliers, making it difficult for Novo Nordisk A S Designing for Diabetics Epilogue to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Novo Nordisk A S Designing for Diabetics Epilogue.

• There has been constant pressure on Novo Nordisk A S Designing for Diabetics Epilogue to conduct frequent research to understand the changing customer tastes and preferences (Kolbina, 2015).

• Technological advancements require workforce training. This adds to the costs of Novo Nordisk A S Designing for Diabetics Epilogue.

VRIO Analysis

Novo Nordisk A S Designing for Diabetics Epilogue uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Novo Nordisk A S Designing for Diabetics Epilogue has a strong brand image and engages in corporate social responsibility.

• Novo Nordisk A S Designing for Diabetics Epilogue has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Novo Nordisk A S Designing for Diabetics Epilogue is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Novo Nordisk A S Designing for Diabetics Epilogue focuses on continuous innovation in its business. The company has expanded this innovation in its multiple functional areas.

• There are potential growth opportunities in the market, and Novo Nordisk A S Designing for Diabetics Epilogue has been able to penetrate the market through its ability to raise large funds.

Rare

• Novo Nordisk A S Designing for Diabetics Epilogue operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Novo Nordisk A S Designing for Diabetics Epilogue has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Novo Nordisk A S Designing for Diabetics Epilogue has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Novo Nordisk A S Designing for Diabetics Epilogue is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Novo Nordisk A S Designing for Diabetics Epilogue is its high-quality products. These products have allowed consumers to make repeat purchases.

• Novo Nordisk A S Designing for Diabetics Epilogue operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Novo Nordisk A S Designing for Diabetics Epilogue to attract more customers.

• Novo Nordisk A S Designing for Diabetics Epilogue has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Novo Nordisk A S Designing for Diabetics Epilogue maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Novo Nordisk A S Designing for Diabetics Epilogue to explore more product development opportunities.

• Novo Nordisk A S Designing for Diabetics Epilogue is successfully maintaining the efficiency and effectiveness of its business operations with the help of more integrated and advanced technology.

• Employees are given both in-house and off-the-job training opportunities by Novo Nordisk A S Designing for Diabetics Epilogue that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Novo Nordisk A S Designing for Diabetics Epilogue to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Novo Nordisk A S Designing for Diabetics Epilogue to formulate effective strategies to achieve the company objectives.

Product

• Novo Nordisk A S Designing for Diabetics Epilogue has five product categories. Each of these categories has a product line that involves more variety of products (Išoraitė, 2016).

• Highly differentiated products are offered by Novo Nordisk A S Designing for Diabetics Epilogue to its customers. These distinctive products are not easily available at competitors.

• The products of Novo Nordisk A S Designing for Diabetics Epilogue are of higher quality, and thus, customers pay more prices for these products.

• Novo Nordisk A S Designing for Diabetics Epilogue designs products with traditional designs giving customers more product variety.

• Novo Nordisk A S Designing for Diabetics Epilogue offers multiple sizes for its every product to make it easy for its customers to select the right product.

• Warranty and same-day delivery option if also provided by Novo Nordisk A S Designing for Diabetics Epilogue to its customers.

Price

• Novo Nordisk A S Designing for Diabetics Epilogue follows a competitive pricing strategy.

• To attract more customers, bundle pricing has also been used by the company.

• Little higher prices are charged for products that are sold online because of the delivery costs (Thabit & Raewf, 2018).

• Optional product pricing strategy is also adopted by Novo Nordisk A S Designing for Diabetics Epilogue for some of its products, such as a base product is offered for a certain price, and there are separate prices for its accessories.

• Regular promotional prices are also offered by Novo Nordisk A S Designing for Diabetics Epilogue to its customers.

Place

• Novo Nordisk A S Designing for Diabetics Epilogue uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Novo Nordisk A S Designing for Diabetics Epilogue globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Novo Nordisk A S Designing for Diabetics Epilogue has partnered with delivery service companies to distribute its products effectively to consumers.

• Novo Nordisk A S Designing for Diabetics Epilogue has also adopted an omni-channel distribution system.

Promotion

• Novo Nordisk A S Designing for Diabetics Epilogue uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Novo Nordisk A S Designing for Diabetics Epilogue to increase brand awareness.

• Novo Nordisk A S Designing for Diabetics Epilogue takes part in various events and exhibitions as a way of promoting its products.

• Large sales force is used to provide the customers with a more personal experience.

• Novo Nordisk A S Designing for Diabetics Epilogue also makes use of influencer marketing to increase the demand for its products.

• Regular content and deals are posted on the social media pages of Novo Nordisk A S Designing for Diabetics Epilogue to attract and retain customers.

Value Chain Analysis

Novo Nordisk A S Designing for Diabetics Epilogue can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Novo Nordisk A S Designing for Diabetics Epilogue’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Novo Nordisk A S Designing for Diabetics Epilogue has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Novo Nordisk A S Designing for Diabetics Epilogue are effectively aligned.

• For inbound logistics, after the arrival of raw material, the company processes it to manufacture the final product (Hasan, Nekmahmud, & Yajuan, 2019).

• In terms of outbound logistics, Novo Nordisk A S Designing for Diabetics Epilogue has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Novo Nordisk A S Designing for Diabetics Epilogue invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Novo Nordisk A S Designing for Diabetics Epilogue to effectively devise and build sales and marketing activities.

• Novo Nordisk A S Designing for Diabetics Epilogue offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Novo Nordisk A S Designing for Diabetics Epilogue has an effective infrastructure that has allowed the company to successfully optimize its value chain.

• The competitive pressure in terms of employee skill development, motivation, and commitment is reduced as Novo Nordisk A S Designing for Diabetics Epilogue has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Novo Nordisk A S Designing for Diabetics Epilogue uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Novo Nordisk A S Designing for Diabetics Epilogue has been using integrated technology in its value chain activities. This includes technological customer support, research and data analytics concerning product design, and automated software.

• The procurement activities of Novo Nordisk A S Designing for Diabetics Epilogue are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Novo Nordisk A S Designing for Diabetics Epilogue can increase the capacity of its production so it can reach more of the customers in its existing market.

• Novo Nordisk A S Designing for Diabetics Epilogue can focus on controlling the overhead costs so that it can offer competitive pricing that can attract customers of the market (Dawes, 2018).

• Investments can be made by Novo Nordisk A S Designing for Diabetics Epilogue in marketing and sales activities to increase the chances of successful market penetration.

• Novo Nordisk A S Designing for Diabetics Epilogue can design and develop a content that increases customer engagement within a particular marketplace.

• Novo Nordisk A S Designing for Diabetics Epilogue can assess and identify more enhanced distribution networks (Radpour, Mondal, & Kumar, 2017).

• Improved distribution systems and supply chains can improve the product accessibility for the customers, making it easier for Novo Nordisk A S Designing for Diabetics Epilogue to penetrate the market.

• Novo Nordisk A S Designing for Diabetics Epilogue can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Novo Nordisk A S Designing for Diabetics Epilogue can plan strategies where it can focus on acquiring the leading players of the market. Such acquisitions will give the company an opportunity to reach more customer segments.

• Strategic partnerships and joint ventures agreements can be signed by Novo Nordisk A S Designing for Diabetics Epilogue to mitigate the risk factors, and to gain customer groups of the market.

• Novo Nordisk A S Designing for Diabetics Epilogue can come up with new and innovative features in its already existing product for the market (Daouda, Barth, & T. M. Ingenbleek, 2019).

Market Development Strategies

• It is important for Novo Nordisk A S Designing for Diabetics Epilogue to invest in the research and development department so potential markets can be identified (Hilman, Bohari, & Abdullah, 2018).

• Regional expansion strategy can be used by Novo Nordisk A S Designing for Diabetics Epilogue for growth purposes. This will also take into consideration the cultural differences.

• Novo Nordisk A S Designing for Diabetics Epilogue should also consider to expand its business operations in the international market. This will allow access to a larger customer base.

• New customer groups and segments should be explored by Novo Nordisk A S Designing for Diabetics Epilogue.

• Novo Nordisk A S Designing for Diabetics Epilogue should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Novo Nordisk A S Designing for Diabetics Epilogue should consider the market education in terms of its product. The company can significantly increase its sales by giving product awareness to new segments.

Product Development Strategies

• Novo Nordisk A S Designing for Diabetics Epilogue can come up with new improvements and modifications in the existing products to attract the market.

• Novo Nordisk A S Designing for Diabetics Epilogue should undergo the NPD process, so the company is able to assess and identify new points for its customers.

• Regular investments in the research and development will help Novo Nordisk A S Designing for Diabetics Epilogue to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Novo Nordisk A S Designing for Diabetics Epilogue can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Novo Nordisk A S Designing for Diabetics Epilogue can adopt vertical diversification to develop business. This can be done by adding more products to the existing portfolio (Kalogiannidis & Mavratzas, 2020).

• Horizontal integration can also be adopted by Novo Nordisk A S Designing for Diabetics Epilogue, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Novo Nordisk A S Designing for Diabetics Epilogue can also consider to conglomerate by starting a different business.

Conclusion

Based on all the models and frameworks discussed above, it is concluded that Novo Nordisk A S Designing for Diabetics Epilogue should focus on widening the existing product portfolio. Moreover, the psychological pricing strategy can be adopted. Novo Nordisk A S Designing for Diabetics Epilogue should also maintain close relationships with its suppliers to benefit from lower prices. Similarly, Novo Nordisk A S Designing for Diabetics Epilogue should develop more integrated outbound logistics for its perishable items. It is also important to continue producing quality and innovative products, so Novo Nordisk A S Designing for Diabetics Epilogue is less affected by the new emerging competition in the industry.

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