Industrial Chemicals Company Essay Example | Topics and Well Written Essays - 750 words

Industrial Chemicals Company - Essay Example Also if the company should expand its existing business it should bring out new and varied products in the market. This is possible only through R&D. The R&D team of ICC keeps on conducting research to introduce new products in the market. R&D is also required in the company to produce chemicals with less cost in order to grab more markets. The R&D team in the bioprocess development produces the products that are used in the field of biotechnology. It also works in a unit that develops vehicles for the transfer of pharmaceutical products. The biological group of the R&D is actively involved in the development of pharmaceutical products. The basic strategy of the company is the production of chemicals and related products. In order to maintain better market share in the future the company should introduce better products according to the change in the market trend and requirements. (Q.2) Would operating unit control of our key R&D growth programs enhance or mitigate our chances of meeting our goals That is should R&D be organized as cost SBUs within each of the operating units What amount and type of R&D, if any at all, should be done at the corporate level SBU is also called Strategic Business Unit. ... ICC should definitely make R&D a strategic business unit as R&D is the core success factor of the company. If this is introduced as a specialized activity ICC can improve the profitability at an alarming rate. It is seen that at the corporate level a commercialization group operates to provide solutions on commercializing the new invention. The new invention based products are the actual driving force of ICC. Therefore a corporate team of senior executives must be formed in order to monitor its activities. (Q.3) I know there'll be pressure to level off our R&D spending across the company, including corporate R&D. We've got to make sure we get more for our money in terms of prioritizing those efforts to go after the most promising commercial opportunities if we're going to achieve our goals in biotechnology! How can we be sure we're prioritizing these efforts toward increased commercial success That is, how do we evaluate the effectiveness of both the R&D cost SBUs in the operating units and corporate-level R&D The company can be sure that it is prioritizing the biotechnology sector for commercial expansion if it gives specialized attention to the R&D activity in biotechnology. Mere research is not enough for the company. The researched and developed products and technology has to be commercialized for monetary prospects of the company. Especially the biotechnology sector is where new and improved developments are needed in terms of the market scenario. When the company can patent any product developed by them the profits will considerably increase. The research team should have to be made more specialized for the activity. (Q.4) How does the fact that ICC operates in several different countries affect the