Using Analytic Tools for Strategic Decision-Makin MT460-5: Design a plan to implement a business strategy throughout an organization. PC-2.2: Formulate innovative solutions for identified initiatives.
Using Analytic Tools for Strategic Decision-Makin
MT460-5:Design a plan to implement a business strategy throughout an organization.
PC-2.2:Formulate innovative solutions for identified initiatives.
To start this assignment, use Novartis pharmaceuticals corporation as the organization for this assignment.
Analyze the details, latest annual report, latest news, review competitor information, etc. about Novartis pharmaceuticals corporation.
You may also want to visit the websites of Novartis Pharmaceuticals Corporation and its competitors for more information and observation.
Scenario:
You submitted a strategic plan for an innovativenew AI-powered chatbot product idea to the C-level executives ofNovartis Pharmaceuticals Corporation. Congratulations! It was approved, and you have been promoted to the chief strategy officer position inNovartis Pharmaceuticals Corporation. The C-level executive committee was very impressed with your strategic plan. Now it is time to implement your strategy. Develop a strategy implementation plan to share with your management team that will be responsible for executing the strategy for your innovativenew AI-powered chatbot product idea in your chosen market. Use the following criteria to develop the strategy implementation plan for your innovativenew AI-powered chatbot product idea.
Assignment Requirements:Address the Course Outcomes by developing a strategic implementationfor Novartis pharmaceuticals corporation. Address each of the following sections and questions.Remember to keep all responses number to its questions :
Implementation Strategy
Include an Intro:
1. Successful Strategy Implementation
Explain what must be done to successfully implement the strategy for your innovative new AI-powered chatbot product idea in order to improve the competitive advantages of Novartis Pharmaceuticals Corporation .
1.1 Value Chain & Strategic Implementation
Discuss how to manage the value chain for Novartis Pharmaceuticals Corporation in the implementation of your strategy.
Explain the ideal organizational design for Novartis Pharmaceuticals Corporation to ensure the successful implementation of your strategy.
Strategy Team Structure
Include an Intro:
2. Organize a strategy-supportive management team structure to implement a strategy for a new idea that increases the competitive advantage of Novartis Pharmaceuticals Corporation .
2.1 Strategy Team Structure
Choose the optimal organizational structure type for the team implementing your strategy.
2.2 Strategy Team Philosophy
Determine and explain the structure (hierarchical or flat) and why it would produce the best results to implement your strategy.
Strategic Initiative Projects
Include a Intro:
3. Identify and prioritize projects into a balanced scorecard to implement a strategy for a new idea that increases the competitive advantage of an organization.
3.1 Balanced Score Card
Fill in the balanced scorecard chart. Use it to identify and prioritize projects per category.
Customer Perspective
Internal Perspective
Objectives
Measures
Objectives
Measures
Innovation and Learning Perspective
Financial Perspective
Objectives
Measures
Objectives
Measures
Figure 2. Balanced Scorecard
3.2 Develop a list of strategic initiatives and prioritize them as projects for your management team to implement.
Strategic Initiatives
Strategic Goal
Add Strategic Goal Here
Objectives
Initiatives
Priority
Add objective 1
Add initiative 1
#
Add objective 2
Add initiative 2
#
Add objective 3
Add initiative 3
#
Add objective 4
Add initiative 4
#
Timeline & Milestones
Q1
Q 2
Q 3
Q 4
Strategic Initiative 1
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Strategic Initiative 2
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Strategic Initiative 3
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Strategic Initiative 4
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Add your Milestone & Target Date
Figure 3. Timeline & Milestones
3.3 Priority Strategic initiative
Develop a timeline depiction indicating project completion milestones.
3.4 Strategic Initiative Project Scope Form
Identify one strategic initiative that is critical to the overall success of your strategy. End explain why it is the most important project to focus attention, efforts, and resources on.
3.4.1 Project Scope Form
Complete the project scope form for your chosen strategic initiative to demonstrate project planning to your management team.
Project Name
Add Project Title HEre
Project Sponsor
Example: Chief Marketing Officer
Project Manager
Example: Director of Marketing
Project Aim/Objective
Detail the overall aim/objective of the project. This should be a short statement that captures exactly what the project must accomplish, (e.g., implement a new performance management system to be used throughout the organization).
Project Deliverables
Detail what will be delivered because of the project, (e.g., a software system to record performance information and produce metrics; a training package to upskill all managers to use the new system).
Out of Scope
Detail what will not be delivered as a part of the project (e.g., access for front-line staff; functionality to complete performance review forms online).
Business Case
Detail the reasons why the project has been approved, i.e., the benefits it will bring to the organization (e.g., a consistent approach to performance management throughout the organization; time saved on producing performance information).
External Dependencies
Detail anything needed to ensure the success of the project (e.g. IT company to design and build platform to host software).
Resource Allocation
Include a Intro:
4. Develop a plan to allocate resources based on the priority of projects for a new idea that increases the competitive advantage for Novartis Pharmaceuticals Corporation .
4.1 Resource Allocation & Management
Explain the importance of resource allocation and resource management to the success of your strategy.
4.2 Resource Audit Process
Explain the process of carrying out a resource audit to your management team and include why it is important.
4.3 Resource Management Checklist
Develop a resource management checklist for your chosen strategic initiative to demonstrate resource allocation to your management team.
Resources - People
What skills or specialized knowledge are required by your people to successfully carryout your priority strategic initiative? How many people are required to carry out your priority strategic initiative? Who is required? What departments are needed, and why?
Resources - Finances
How much money is required? How much are you requesting in your budget, and how are you requesting it (think milestone timeframes)? Give a brief overview of how the money will be allocated in your budget to successfully launch and execute your strategic initiative project?
Resources - Equipment & Materials
What equipment is required (e.g., data projector, manufacturing, etc.)? What other materials do you need (e.g., flip chart, tents, chairs, tables, paper, signs, vehicles, etc.)? What other information or data do you need (e.g., profit and loss statistics, annual report) to successfully launch and execute your strategic initiative project?
Resources - Facilities
What facilities do you need (e.g., physical space, meeting rooms, warehousing, production / manufacturing space, )?
4.4 Information Systems & Technology Resources
Explain the role of information systems and technological resources in the execution of your strategic initiative project.
4.5 Budget Proposal
Based on the results of your resource planning, develop a budget proposal for your strategic initiative.
CATEGORY
NOTES
COSTS
Staffing (People)
Provide reasoning here.
$
Equipment
Provide reasoning here.
$
Materials
Provide reasoning here.
$
Facilities
Provide reasoning here.
$
Information Systems
Provide reasoning here.
$
Technology
Provide reasoning here.
$
OTHER
Provide reasoning here.
$
OTHER
Provide reasoning here.
$
TOTAL COSTS
$ XXX,XXX.XX
Figure 4. Strategic Initiative Budget Proposal
4.5.1 Budget Proposal Details
Concisely explain your budget proposal.
Key Performance Indicators
Include a Intro:
5. Explain the purpose and importance of managing performance and provide details on how it is accomplished to ensure competitive advantage is achieved.
5.1 Purpose of Key Performance Indicators
Explain the purpose of key performance indicators and how they work.
5.2 Deciding What to Measure: KPI's
Complete the Deciding What to Measure form to identify key performance indicators (outputs, actions, and measurements).
Identifying each component of this process and making sure you know everything about each component is essential. Hence the reason you previously determined timelines and milestones, resources, finances, people, etc. Now that you know so much about your chosen strategic initiative, you can effectively determine specific actions that need to take place to execute your strategic initiative.
Measurement 1:
Here is where you will be very specific about measuring the actions that will be taken to carry out your chosen strategic initiative.
Specific action 2:
Examples:
Improve mentoring and coaching of new recruits.
Improve the quality of induction and on-the-job training processes.
Provide external formal training opportunities.
You only need one bullet per specific action. The above are simply examples. Same for measurements. However, you can have more than one measurement for a specific action as needed.
Measurement 2:
Examples:
Percentage of new recruits assigned a coach or mentor.
Time taken for new recruits to become effective in their role.
Number of errors by new recruit's post onboarding completion.
Number of employees enrolled to study for a relevant course or qualification.
Notice that the above examples are quantifiable.
Specific action 3:
Measurement 3:
Specific action 4:
Measurement 4:
Specific action 5:
Measurement 5:
5.2.1 Making Moves
Design five key performance indicators to manage the implementation of your strategy.
5.3 Making Moves
Concisely explain the key performance indicators and how they will collectively ensure competitive advantage is achieved.
Continuous Improvement Process
Include a Intro:
6. Develop a continuous improvement philosophy to ensure the implementation of your strategy increases the competitive advantages for Novartis Pharmaceuticals Corporation .
6.1 Continuous Improvement Philosophy
Create and thoroughly explain the continuous improvement philosophy for Novartis Pharmaceuticals Corporation .
6.1.1 Consider adopting an existing continuous improvement philosophy such as Kaizen, Six Sigma, EFQM, etc. Explain it thoroughly, specifically addressing who, what, why, when, where, and how the continuous improvement philosophy will be employed to ensure competitive advantages are achieved.
6.2 Problems & Challenges
Explain how problems and challenges will be analyzed and solved.
6.3 Continuous Improvement for Competitive Advantage
Explain how to create the right environment for continuous improvement within Novartis Pharmaceuticals Corporation to ensure competitive advantages are achieved.
Culture & Performance
Include a Intro:
7. Explain how the culture for Novartis Pharmaceuticals Corporation will impact the implementation of the strategy for your innovative new AI-powered chatbot product idea that increases its competitive advantage.
7.1 Purposeful Organizational Culture
Define the purpose of Novartis Pharmaceuticals Corporation al culture and how it contributes to the successful implementation of your strategy.
7.2 Cultural Web
Explain how each category of the cultural web in Novartis Pharmaceuticals Corporation will impact the successful implementation of your strategy.
7.3 Cultural Fit & Cultural Add
Explain how "cultural fit" and "cultural add" will be managed by your team.
7.3.1 Organizational Culture Conflicts
Explain how conflicts to the organizational culture will be handled.
7.4 Incentives & Rewards
Design an incentive and reward plan to promote effective and efficient strategy implementation.
Conclusion Remarks
8. Develop closing remarks to your management team that encourage collaboration and inspire innovation and entrepreneurship in the effort of implementing your strategy for your innovative new AI-powered chatbot product idea that increases the competitive advantage for Novartis Pharmaceuticals Corporation.
\fTABLE OF CONTENTS Contents Strategic Plan Proposal_ SOAR ANALYSIS Innovative New Product Idea Visions, Mission, & Values 9 Strategic Approach 17 Strategic Goals, Objectives, & Incentives 20 Strategic Alternatives & Contingencies 20 Conclusive Remarks 28 References 30Strategic Plan Proposal A crucial part of Novartis Pharmaceuticals Corporation's strategic plan entails the introduction of a chatbot powered by articial intelligence on our website as part of a product development initiative Betz, M. (2022, November 29). This plan will help us to achieve our goal of improving our competitive advantage and ensuring that we are in a strong position within the pharmaceutical industry. In the following sections, we will provide you with an overview of our organizational structure, product miX, and the strategic role of our competitors Betz, M. (2022, November 29). Strategic Position of Novartis Pharmaceuticals Corporation: Novartis Pharmaceuticals Corporation operates within the highly competitive pharmaceutical industry, characterized by rapid technological advances and intense regulatory scrutiny. Our strategic position within the pharmaceutical industry aims to provide life-changing medicines and healthcare solutions to patients around the globe Betz, M. (2022, November 29). We are committed to innovation, scientific excellence, and the delivery of life-changing drugs at the core of what we do. To address unmet medical needs and improve the quality of patient care, we continually invest in research and development Betz, M. (2022, November 29). We strive to be at the forefront of medical innovation to improve patient health outcomes. Current State of Novartis Pharmaceuticals Corporation and Competitive Environment: Novartis Pharmaceuticals Corporation is an international pharmaceutical company with a strong presence in oncology, cardiology, immunology, ophthalmology, and neuroscience. Betz, M. (2022, November 29). In addition to achieving signicant milestones and establishing a Page 1 STRATEGIC PLAN PROPOSAL reputable brand presence, our commitment to scientific discovery and patient-centricity has helped us reach critical milestones. As one of the most successful pharmaceutical companies in the world, we are facing stiff competition from many key players in the industry. To provide a comprehensive analysis, I have selected three key competitors to examine: Competitor 1: Meditech Solutions Inc. Competitor 2: PharmaGen Corporation Competitor 3: BioCare Innovations Ltd 1.1. Product Analysis for Novartis Pharmaceuticals Corporation In addition to innovative prescription medicines and generic drugs, Novartis Pharmaceuticals Corporation's portfolio encompasses various consumer healthcare products covering a wide range of therapeutic areas. As a result, we have strategically aligned our product mix toto address a wide range of diseases and conditions worldwide to meet the needs of patients and healthcare providers. Four variables can be compared to analyze our product mix: NOVARTIS BIOCARE PHARMACEUTICALS MEDITECH PHARMAGEN Variable 1 : The Novartis With a focus on Providing cost- As a niche Research and Pharmaceuticals breakthrough effective therapeutic Development Corporation is a therapies and alternatives to company, Pipeline significant player in the precision medicine, biosimilars and BioCare pharmaceutical industry, Meditech Solutions generics, Innovations Ltd. developing potentially Inc. has a similarly PharmaGen targets specific blockbuster drugs and strong pipeline Corporation patient innovative therapies. MEDITECH. (2019). focuses on populations using biosimilars and their expertise. IHC Primary Antibody Page 2Variable 2: Market Presence Variable 3: Technological Innovation Variable 4: Partnerships and Collaborations Page 3 Pharmaceuticals Corporation has a global footprint that enables it to collaborate with healthcare systems worldwide. Using articial intelligence, big data analytics, and digital health, Novartis Pharmaceuticals Corporation is accelerating drug discovery, optimizing clinical trials, and delivering personalized healthcare. Our partnerships and collaborations enable us to leverage extemal expertise. We address complex healthcare challenges and drive innovation through partnerships and collaborations. Capitalizing on rising healthcare needs, Meditech Solutions Inc. has a strong presence in emerging markets. Research and development at Meditech Solutions Inc. include technology integration into digital health initiatives. MEDITECH. (2019). The key to fostering scientic advancements is a strategic collaboration between Meditech Solutions Inc. and leading academic centers. MED] TECH . (2019). generics. index. (n.d.). PharmaGen Corporation is a dominant player in developed markets due to its strong brand loyalty index. (n.d.). Using technological advancements, PharmaGen Corporation optimizes processes and improves supply chain efciency index. (n.d.). PharmaGen Corporation and manufacturers have formed a strategic alliance to optimize production and reduce costs. index. (n.d.). Supplier a\"; Manufacturer. (n.d.). As a niche market leader in certain therapeutic areas, BioCare Innovations Ltd. focuses on specic regions. IH C Primary Antibody Supplier a\"; Manufacturer. n.d. . Enhanced disease management and treatment compliance are core business objectives of BioCare Innovations Ltd. Partnerships with patient advocacy groups are part of BioCare Innovations Ltd's patient education and awareness initiatives. [H C Primary Antibody Supplier 0'2 Manufacturer. (n.d.). STRATEGIC PLAN PROPOS L Novartis Pharmaceutical Corporation is committed to innovation, scientic excellence, and patient care, a key component of its strategic position Within the pharmaceutical industry. Through our diverse product mix, technological innovation, and strategic partnerships, we can maintain our competitive edge in a competitive market. To make our online presence more engaging, providing valuable healthcare information, improving patient engagement, and enhancing our online presence, we also intend to introduce AI-powered chatbots as a tool that Will make our online presence more engaging for patients. Page 4 SOAR ANALYSIS- SOAR ANALYSIS The SOAR Analysis Framework is a structured approach for identifying opportunities and setting results-oriented aspirations based on Novartis Pharmaceuticals Corporation's strengths. Due to our existing capabilities and competitive advantages, we are uniquely positioned to strategically expand our business using our current capabilities and competitive advantages Ling Li. 2020. 2. The SOAR Analysis Framework The company will be able to develop aspirational product ideas aligned with its expansion strategy by exploring its strengths, identifying growth opportunities, and creating aspirational product ideas aligned with its expansion. It is expected that Novartis Pharmaceuticals Corporation will achieve significant results if Novartis Pharmaceuticals Corporation successfully implements these ideas Ling Li. 2020. STREGNTHS OPPORTUNITIES SOAR ANALYSIS Page 5 Novartis Pharmaceuticals Corporation excels in developing innovative solutions to unmet medical needs. Having a global footprint allows us to reach diverse patient populations and collaborate with healthcare systems around the world. The Novartis Pharmaceuticals Corporation uses artificial intelligence, big data analytics, and digital health solutions to provide better patient care. Developing markets: Our established global presence allows us to expand into rapidly growing countries. Through strategic partnerships with leading academic institutions, research organizations, and industry stakeholders, novel therapies and healthcare solutions can be developed and commercialized Novartis Pharmaceuticals Corporation can leverage its scientific expertise to develop tailored treatments and therapies for specic patient populations. Precision medicine is a rapidly growing eld. SOAR AN Y-SIS- ASPIRATIONS RESULTS - By combining genomic data, real- time patient monitoring, and predictive analytics, the AI-powered Precision Medicine Platform would offer personalized treatments and improve patient outcomesiresults: Increased market share in the precision medicine segment, Using articial intelligence (A1) to power improved patient satisfaction, and increased treatment efficacy. Provide interactive tools for disease management and treatment adherence through mobile applications, wearables, and virtual reality. We expect lower healthcare costs, better engagement, and greater patient loyalty. 0 Clinical trials can be optimized through patient-centric platforms. A patient-centered approach can precision medicine can enhance treatment efficacy, improve patient satisfaction, and increase market share by using this platform. Digital therapeutics solutions can improve patient engagement and adherence, reduce healthcare costs, and increase patient loyalty because of improving patient engagement and commitment. Using a patient-centric platform, clinical trials can be conducted faster, with higher retention rates, and with greater efficiency and cost-effectiveness ensure recruiting, retention, and data quality by leveraging telemedicine, remote monitoring, and decentralized practices. Our clinical trials will be more efficient, cost- effective, and quickly recruit more patients. F igure 2. SOAR ANALYSIS FRAMEWORK To develop aspirational product ideas aligned with Novartis Pharmaceuticals Corporation's expansion strategy, the company should explore the four areas of strengths, opportunities, aspirations, and results to identify product ideas Ling Li. 2020. Page 6 SOAR ANALYSIS The strengths quadrant is a tool for identifying a company's strengths and what separates it from its competitors. Novartis Pharmaceuticals Corporation, a company that develops innovative medical solutions to unmet medical needs, also uses advanced technologies such as artificial intelligence, big data analytics, and digital health solutions to improve the quality of patient care. A company can expand its business in the opportunity quadrant Ling Li. 2020. Due to Novartis Pharmaceuticals Corporation's global presence, it can enter rapidly growing markets, form strategic partnerships to commercialize novel therapies and healthcare solutions and develop tailor-made treatments based on its scientific expertise for specific patient populations. The company's long-term goals and vision can be seen in the aspiration's quadrant. To achieve a high level of patient outcomes by offering personalized treatments, providing interactive tools for disease management and treatment adherence, and optimizing clinical trials through patient-centric platforms, Novartis Pharmaceuticals Corporation intends to develop a Precision Medicine Platform using artificial intelligence to improve patient outcomes Ling Li. 2020. It is also important to note that the resulting quadrant outlines the benefits and outcomes that can be achieved by taking advantage of each opportunity and aspiration. Novartis Pharmaceuticals Corporation is expected to increase its market share in precision medicine by improving patient satisfaction and treatment efficacy, lowering healthcare costs, patient engagement and loyalty, and recruiting more patients into more efficient and cost-effective clinical trials Ling Li. 2020. With the SOAR analysis framework, Novartis Pharmaceuticals Corporation can develop a holistic approach to strategic planning, which includes identifying Page 7SOAR ANALYSIS strengths, growth opportunities, long-term objectives, and expected results as part of its strategic planning process Ling Li. 2020. Page 8 INNOVATIVE NEW PRODUCT IDEA Innovative New Product Idea Novartis Pharmaceuticals Corporation has developed Novartis PharmaBot, a chatbot powered by artificial intelligence designed to assist patients in managing their health effectively Trunov, I. (2022, December 20). By offering easy access, convenient service, and accuracy, Novartis PharmaBot supports the company's strategy to become a leader in patient-centric care and innovation. The chatbot is branded with the company's logo, colors, and visual elements to enhance the company's overall product offering and customer experience Armstrong, A Trunov, I. (2022, December 20). The Novartis PharmaBot revolutionizes patient care by empowering patients to manage their health effectively and engaging them in their care. 3.1 Novartis PharmaBot: Revolutionizing Patient Engagement through AI-Powered Chatbot Patients often find it difficult to obtain information about healthcare because of a lack of access to healthcare professionals, long wait times, and the abundance of medical literature available Team, E. (2023, February 16). Novartis PharmaBot is part of Novartis PharmaBot, a platform for engaging and supporting patients effectively in their healthcare journey. Novartis PharmaBot is part of Novartis PharmaBot. To ensure that patients receive the information they need at the right time, Artificial Intelligence technology provides them with real-time and personalized support. 3.2 Meeting Customer Needs & Expectations The user-friendly interface of Novartis PharmaBot enables it to be accessible, timely, and accurate, meeting customers' expectations by offering easy access, convenient service, and accuracy Om, V. (2022, October 20). In addition to providing personalized advice on disease Page 9INNOVATIVE NEW PRODUCT IDEA management, treatment options, medication adherence, and lifestyle recommendations, this chatbot will provide its users with educational resources. Patients will be able to ask questions, find relevant information, and access educational resources with the help of the conversational interface to make informed decisions regarding their health Om, V. (2022, October 20). 3.3 Strategic Direction As part of Novartis Pharmaceuticals Corporation's strategy, a key objective is to establish itself as a leader in patient-centric care and innovation by utilizing artificial intelligence, which will enhance patient engagement, health outcomes, and loyalty to the company Strategic Direction: Definition and Example | StudySmarter. (n.d.). Novartis PharmaBot is one of the most effective tools and information we intend to provide our patients for effective health management using Novartis PharmaBot. As part of Novartis PharmaBot, we want to empower our patients and provide them with all the information and tools they need to manage their health effectively. 3.4 The Story Behind Novartis PharmaBot By creating Novartis PharmaBot, Novartis could bridge the gap between patients and the information they needed, and they envisioned a healthcare journey in which patients would have a trusted companion with them Company History. (n.d.). Due to advancements in artificial intelligence, the need for personalized support, and advances in artificial intelligence, we have come together to develop a virtual assistant to empower patients with knowledge and guidance based on advanced artificial intelligence Company History. (n.d.). With Novartis PharmaBot, patients can access a reliable resource 24 hours a day, seven days a week. Patients must understand their diagnosis, explore treatment options, and manage Page 10side effects because personalized support will be provided based on their needs and preferences Company History. (n.d.). To ensure an intuitive and seamless patient experience, the conversational interface will make healthcare information more accessible than ever, allowing for more actionable and accessible healthcare information. 3.4.1 Branding Analysis Adding Novartis PharmaBot to our company's repertoire will strengthen our company's reputation as an innovative, patient-centric pharmaceutical company. To align the chatbot with our company's existing branding and our core values of scientific excellence, patient care, and technological innovation, we will integrate the chatbot with our existing branding Armstrong, A. (2019, June 20). Our commitment to providing patients with personalized support and empowerment throughout the healthcare journey will be strengthened through Novartis PharmaBot. A chatbot will be branded according to our company's logo, colors, and visual elements. Due to its conversational tone and user-friendly interface, we will be able to seamlessly transition between other communication channels to it while maintaining a consistent voice with our brand identity due to its conversational tone and user-friendly interface Armstrong, A. (2019, June 20). As part of our overall product mix and customer offering strengthening efforts, Novartis PharmaBot will provide additional support and information to complement our existing product lines to enhance our broad product mix and customer offering, focusing on our current product lines to improve our overall product mix and customer offering Armstrong, A. (2019, June 20). By employing Novartis PharmaBot, Novartis Pharmaceuticals Corporation will be able to engage patients and meet the expectations of Novartis' customers in a truly revolutionary way Page 11 INNOVATIVE NEW PRODUCT IDEA since it addresses the challenges associated with engaging patients Armstrong, A. (2019, June 20). Novartis Pharmaceuticals Corporation's commitment to empowering patients and improving healthcare outcomes is the driving force behind this Al-powered chatbot that is set to revolutionize patient care. Page 12Visions, Mission, & Values As part of Novartis Pharmaceuticals Corporation's strategy of developing a unique articial intelligence-powered chatbot idea, we must make sure that our vision, mission, and values statement are aligned with Novartis Pharmaceuticals Corporation's competitive advantage. By formulating a vision statement that captures the aspirational future enabled by our chatbot, we will be able to explore how our chatbot enhances the competitive advantage of our company. Following that, we will go over Novartis Pharmaceuticals Corporation's mission statement, which supports the concept of chatbots. We will also review the values information of the organization, and if necessary, revisions will be proposed based on our ndings. 4.1 Vision Statement \"Novartis PharmaBot, our AI-powered chatbot, aims to revolutionize patient engagement in healthcare. In the future, patients will have instant access to personalized support, allowing them to take control of their health and improve their overall well-being." This vision statement increases Novartis Pharmaceuticals Corporation's competitive advantage by positioning the company as a pioneer in patient-centered care and technological innovation. By using articial intelligence and chatbot technology, we intend to establish a reputation for providing personalized, accessible, and timely healthcare support to differentiate ourselves from our competitors as well as establish a reputation for providing healthcare support that is personalized, accessible, and timely. To meet the growing demand for digital healthcare solutions in the healthcare industry, Novartis' vision aligns with its role as a company that meets customer expectations for better patient engagement and patient outcomes. 4.2 Mission Statement Page 13 VISIONS, MISSION, & VALUES Novartis Pharmaceuticals Corporation's mission is to provide innovative healthcare solutions to improve and extend people's lives. To help patients make informed decisions about their health, Novartis PharmaBot offers personalized support, reliable information, and resources powered by artificial intelligence. According to Novartis Pharmaceuticals Corporation's mission statement, the company's commitment to improving patient lives and providing innovative healthcare solutions is a strong foundation for the concept of Al-powered chatbots. With the introduction of Novartis PharmaBot, Novartis enables patients to participate actively in their healthcare journey by providing personalized support that aligns with the company's mission of empowering patients. In addition to our commitment to providing patient-centric care, technological advancements, and reliable health information, the chatbot's integration into our organization's mission reinforces what we stand for. 4.2.1 Revised Mission Statement Proposal Novartis Pharmaceuticals Corporation's mission statement could be revised as follows: We are committed to advancing scientific excellence, going innovative therapy, and providing patient-centered care to increase the quality of life for people. With the help of cutting- edge technologies like Artificial Intelligence, Novartis PharmaBot, and our AI-powered chatbot, patients will receive personalized information and support from Novartis PharmaBot." 4.3 Values Statement "Essentially, the values statement is the framework that an organization uses to make decisions and behave by its vision for a new idea in a way that supports its vision." A values statement for Page 14a chatbot powered by articial intelligence should include principles such as innovation, patient care, integrity, collaboration, and excellence. By aligning the chatbot with these values, the company will strengthen its competitive advantage and ensure it is also aligned with its core values. By dening behavioral expectations and priorities that drive the achievement of an organization's mission, the values statement supports its mission statement by supporting it. A mission of providing innovative healthcare solutions and empowering patients is aligned with values that include patient focus, scientic integrity, teamwork, and continuous improvement. Throughout the development and deployment of the chatbot, Novartis Pharmaceuticals Corporation ensures that its mission is upheld consistently, and these values are incorporated as part of its mission statement. 4.3.1 Revised Values Statement Proposal Novartis Pharmaceuticals Corporation's revised values statement could be as follows: 1. Embracing technology and research to develop novel solutions and enhance patient care drives our commitment to innovation, which drives advances in healthcare through technology and research. 2. Personalized solutions designed to improve the lives of our patients are delivered using a patient-centric approach, in which the patient is at the center of our decision-making process to provide the best possible outcomes. 3. The highest ethical standards are upheld in all our dealings with our patients, healthcare partners, and stakeholders to foster trust and transparency. Page 15 VISIONS, MISSION, & VALUES 4. To achieve our shared goals, we foster a culture of internal and external collaboration to achieve our goals. 5. Our top priority is to exceed expectations and drive positive results in everything we do, from scientic research to customer service. We strive to achieve excellence in everything we do. By revising its values statement, Novartis Pharmaceuticals Corporation is committed to providing patient-centric and technologically advanced solutions at the forefront, aligning the information with the company's mission, vision, and the use of the innovative chatbot idea, improving its competitive advantage. Page 16 Strategic Approach Developing the strategy to support our innovative new articial intelligence-powered chatbot idea is one of the most critical steps in maximizing Novartis Pharmaceuticals Corporation's competitive advantage, which requires careful consideration of the different strategic approaches available Strategic Approaches \\ The National Center for Healthy Safe Children. (n.d.). For the launch of our chatbot idea, we will choose a generic strategy, and the advantages of utilizing this strategy will be discussed in this section, as well as the method selected for the launch. When implementing a strategic approach, we will also assess Novartis Pharmaceuticals Corporation's chances of being a rst mover, a fast follower, or a late mover in the industry. 5.1 Types of Strategic Approaches The differentiation strategy we have designed to support the idea of AI-powered chatbots as part of our vision was developed in response to our desire to help the idea of AI-powered chatbots as part of our vision Strategic Approaches \\ The National Center for Healthy Safe Children. (n.d.). 5.2 Analysis of' Strategic Approaches of' Differentiation Strategy. Cost leadership, differentiation, focus, and integration are a few of the strategic approaches that can be used to develop competitive advantages for a company Akan, Y., & Isik, C. (2010). On the other hand, the differentiation strategy involves offering unique and innovative products and services to differentiate the organization from its competitors. The cost leadership strategy stresses the importance of achieving a competitive edge through cost reduction. The focus strategy focuses on a specific market segment toto achieve synergy and competitive Page 17 STRATEGIC APPROACH advantage by integrating different parts of the value chain to achieve synergy and competitive advantage Akan, Y., & Isik, C. (2010). 5.3 Strategic Approach & Competitive Advantage Novartis Pharmaceuticals Corporation can gain competitive advantages by implementing differentiation strategies with its artificial intelligence-powered chatbot idea. With its unique features, personalized support, and exceptional user experience, the healthcare chatbot will stand out from other healthcare chatbots Akan, Y., & Isik, C. (2010). As a result of Novartis PharmaBot's customized and innovative solutions, the company will be able to attract and retain customers, enhance its brand reputation, and position itself as a leader in patient engagement and support. Using Novartis' differentiation strategy, Novartis can gain a competitive advantage by providing personalized healthcare information, reliable guidance, and personalized resources through a chatbot Akan, Y., & Isik, C. (2010). With this approach, we are aligning with our vision of transforming healthcare through patient empowerment and meeting our customers' expectations for personalized and accessible support. We can achieve long-term competitive advantages by differentiating our chatbot from our competitors Akan, Y., & Isik, C. (2010). 5.4 Making Moves A strategic strategy may be best implemented as a first mover, fast follower, or late mover, depending on the circumstances and dynamics of the industry and market. To have the most significant advantage when Novartis Pharmaceuticals Corporation launches its Al-powered chatbot, it must adopt a fast-follower strategy to gain the most market share Making Competitive Moves - Mastering Strategic Management - Ist Canadian Edition. (2014, September 12). Page 18Novartis can benet from the experiences and insights of early players in the healthcare chatbot industry, as it is one of the fastest-growing companies. By observing and learning from the success and failure of other companies and their chatbots, Novartis can ensure that enhanced features, superior user experiences, and customized solutions are provided to improve its chatbot offering. Taking advantage of market validation of chatbots allows Novartis to benefit from the edges of becoming a fast follower while simultaneously avoiding the pitfalls associated with being one of the first movers Making Competitive Moves Mastering Strategic Management [st Canadian Edition. (2014, September 12). When you have fast followers, you can assess and understand your customer preferences, improve chatbot functionality, and address any limitations or challenges that may arise when you are just beginning out Making Competitive Moves iMastering Strategic Management , 151' Canadian Edition. (2014, September 12). As a result of this approach, Novartis has positioned itself strategically by offering a chatbot tailored to meet customers' needs and incorporating innovative features and lessons learned from the competition to provide customers with a chatbot that meets their needs. It is therefore expected that Novartis Pharmaceuticals Corporation will be able to achieve a competitive advantage due to its chosen differentiation strategy and being a fast follower of its AI-powered chatbot idea Making Competitive Moves iMastering Strategic Management , 1 st Canadian Edition. (2014, September 12). Ibelieve that Novartis can gain an edge in the healthcare industry if it offers a unique and innovative solution that meets customer needs, strengthens its brand reputation, and establishes itself as an industry leader in patient engagement. Page 19 STRATEGIC GOALS, OB-J TIVES, 8L INCENTIVES Strategic Goals, Objectives, & Incentives In this section, we will focus on designing strategic goals, objectives, and incentives that drive the implementation of a strategy for the new AI-powered chatbot idea, ultimately increasing the competitive advantage of Novartis Pharmaceuticals Corporation. We will formulate one strategic goal and three strategic objectives to guide our implementation efforts Habas, C. (2020, November 19). We will identify critical success factors that are essential for achieving these objectives, develop an objective that aligns with corporate social responsibility and environmental sustainability, and outline strategic initiatives in the form of innovative proj ects. 6. Goals and Objectives Goal: Strategic Goal: To establish Novartis PharmaBot as the leading AI-powered chatbot in the healthcare industry, delivering personalized, reliable, and accessible support to patients. 0 Objective 1: Enhance the functionality and intelligence of Novartis PharmaBot to provide accurate and personalized healthcare information and guidance to users. 0 Objective 2: Expand the reach and accessibility of Novartis PharmaBot across various platforms and devices to ensure widespread availability for patients. 0 Objective 3: Foster strong customer engagement and satisfaction by continuously improving the user experience and incorporating feedback to meet evolving customer needs. We need to achieve our strategic goal of establishing Novartis PharmaBot as the leading AI-powered chatbot in the healthcare industry in order to successfully implement our new product strategy Group, D. W., Hay. (2008, November 12). We have identified three specic Page 20 objectives that need to be addressed in order to achieve this goal, which is aligned with our mission to provide patients with personalized, reliable, and accessible support. To provide accurate and personalized healthcare information and guidance to users, Objective 1 aims to enhance Novartis PharmaBot's functionality and intelligence. By delivering high-quality and tailored support to patients, we will be able to differentiate ourselves from other chatbots in the market Group, D. W., Hay. (2008, November 12). We can continuously improve the accuracy and relevance of our chatbot's responses using advanced AI and machine learning technologies, ensuring that patients receive the most relevant and helpful information. As a second objective, we aim to make Novartis PharmaBot available across a range of platforms and devices so that patients can access it widely. This objective will help us increase our market share and reach a larger audience. We can ensure that patients can access our chatbot regardless of their preferred communication device or channel by making it available on multiple platforms, including social media, messaging, and voice assistants Group, D. W., Hay. (2008, November 12). As a nal objective, Objective 3 is to continuously enhance the user experience and incorporate feedback to meet the evolving needs of customers to foster strong customer engagement and satisfaction. To build a loyal and satisfied customer base, this objective is crucial. Our chatbot can be continuously improved by actively seeking feedback from patients and incorporating it, so it is easier to use and more intuitive. Ultimately, this will increase customer engagement and loyalty by building trust and condence in our product Group, D. W., Hay. (2008, November 12). Ultimately, Novartis PharmaBot needs to become the leading AIpowered chatbot in the healthcare industry if our new product idea is to succeed. Providing personalized, reliable, and accessible support to patients in need can be achieved by focusing on our three objectives of Page 21 STRATEGIC GOALS, OBJECTIVES, & INCENTIVES enhancing functionality and intelligence, expanding reach and accessibility, and fostering strong customer engagement and satisfaction Group, D. W., Hay. (2008, November 12). 5.1 Critical Success Factors To ensure the success of organizational objectives, we must identify critical success factors that play a vital role in achieving our goals. These factors are: . With its continuous investment in R&D as well as continuous investment in the research and development of its AI capabilities and features, Novartis PharmaBot continues to be at the forefront of technological advancements in the chatbot industry. Assuring compliance with privacy regulations and implementing robust data protection measures will assist in protecting the personal health information of users. It is intended that Novartis PharmaBot will build strategic collaborations and partnerships with healthcare providers, technology companies, and industry experts in order to leverage their expertise. Novartis PharmaBot's strategic plan will be successful if technological innovation is a critical success factor. To enhance Novartis PharmaBot's AI capabilities and features, Novartis PharmaBot must continually invest in research and development Habas, C. (2020, November 19). As a result, Novartis PharmaBot will be at the forefront of technological advances in the chatbot industry for years to come. Using technological innovation, Novartis PharmaBot is able to offer users more personalized and relevant responses. Novartis PharmaBot can use technology innovation to stay ahead of its competitors and maintain its market position by improving the user experience, increasing engagement, and ultimately improving adoption and retention rates. Novartis PharmaBot's strategic plan will succeed if it invests in technological innovation Habas, C. (2020, November 19). 6.2 CSR & Environmental Sustainability Objective Page 220 Objective 4: Embed corporate social responsibility and environmental sustainability principles into the development and operation of Novartis PharmaBot, ensuring that its functionalities and practices contribute to a more sustainable and responsible healthcare ecosystem. In today's business landscape, corporate social responsibility and environmental sustainability are becoming increasingly important, and for a good reason. Novartis PharmaBot's development and operation must incorporate these principles to benet the company, the healthcare industry, and the planet Williams, 0. (n.d.). Sustainability and social responsibility are priorities for consumers, according to research. A study by Cone Communications found that 87% of consumers would purchase a brand if it advocated for a cause they care about, but 76% wouldn't if it was approved for a reason they opposed Williams, 0. (n.d.). Hospitals and healthcare facilities generate a significant portion of the waste generated in the healthcare industry. This signicantly impacts the environment, as they are among the largest sources of trash within the healthcare industry. According to Practice Greenhealth, over 6,600 tons of waste are generated by healthcare facilities in the United States daily. In addition to reducing its environmental impact, Novartis PharmaBot has the potential to set an example for the healthcare industry by integrating ecological sustainability principles into its development and operation Williams, 0. (n.d.). As much as social responsibility and environmental sustainability are essential to companies and the healthcare industry, they are also vital to the environment as well. Climate change, pollution, and other environmental issues are becoming increasingly urgent and urgent and require immediate attention Williams, 0. (n.d.). Novartis PharmaBot has integrated these principles into its product design and operation to contribute to a more sustainable future. Page 23 STRATEGIC GOALS, OBJECTIVES, & INCENTIVES Novartis PharmaBot must be developed and operated by corporate social responsibility and environmental sustainability principles, as these concepts are both essential. Furthermore, this could serve as an excellent example for other businesses and benefit not just the company but the healthcare industry. 6.3 Strategic Initiatives Following are the strategic initiatives we will undertake to implement the AI-powered chatbot idea: . Project 1: Improvements to Novartis PharmaBot's Artificial Intelligence and Personalization: Develop the Artificial Intelligence capabilities of the Novartis PharmaBot to provide personalized recommendations, treatment options, and support tailored specifically to each user's needs. Project 2: Novartis PharmaBot's multi-platform integration ensures seamless patient access regardless of their preferred channel. This includes mobile apps, websites, and voice assistants, providing seamless access irrespective of their preferred channel. . Project 3: Continual Improvement of User Experience: Using the user feedback loop and data-driven approach, we integrate user insights and preferences into iterative updates and improvements of Novartis PharmaBot. . Project 4: Enhance energy efficiency, minimize carbon footprint, and encourage users to adopt eco-friendly patterns with Novartis PharmaBot by integrating sustainable practices into the creation and operation of the tool so that it leads to an increase in energy efficiency and reduces carbon footprint. Page 24STRATEGIC GOALS, OBJECTIVES, & INCENTIVES The Novartis Pharmaceuticals Corporation will obtain a sustainable competitive advantage in the healthcare industry if several strategic initiatives are taken Habas, C. (2020, November 19). Novartis Pharmaceuticals Corporation will need to implement its AIpowered chatbot idea in a way that will allow them to achieve this goal in a way that will enable them to accomplish this goal in a way that will allow them to achieve this goal in way that will help them to do so accomplish the goal Habas, C. (2020, November 19). Page 25 STRATEGIC ALTERNATIVES & CONTINGENCIES Strategic Alternatives & Contingencies We will be evaluating Novartis Pharmaceuticals Corporation in this section to determine whether strategic alternatives can be employed to increase the effectiveness and efficiency of the company. Using assumption-based planning, a contingency plan will be developed for dealing with any future risks and threats that may threaten the strategic plan Teeboom, L. (2013). 7.1 Strategic Alternatives Identifying strategic alternatives within Novartis Pharmaceuticals Corporation requires considering different strategies to improve efficiency and effectiveness. Some potential options include: 1. Analyze existing processes and workflows within an organization to identify areas for improvement, thereby increasing productivity, reducing waste, and optimizing operations Teeboom, L. (2013). 2. Using emerging technologies, such as artificial intelligence, machine learning, and data analytics, to improve decision-making processes, enhance research and development capabilities, and boost overall efficiency and innovation Teeboom, L. (2013). 3. Partner with organizations, such as research institutes, healthcare providers, and technology companies, to leverage their expertise, share resources, and drive initiatives that enhance competitive advantage Teeboom, L. (2013). 7.2 Contingency Plan An emergency plan plays a crucial role in strategic planning because it helps identify and address any potential threats and risks that might occur during the implementation of the Page 26strategy. By utilizing assumption-based planning, we can formulate a contingency plan that outlines proactive measures that can be taken to combat or mitigate these risks Hickson, D. J. (n.d.). Contingency plans based on assumptions are developed by identifying assumptions and creating contingency strategies. The steps are as follows: 1. A strategic plan's success depends on the assumptions that underpin its implementation. These assumptions could be related to market conditions, technological advancements, regulatory changes, or other external factors Hickson, D. J. (n.d.). 2. The development of scenarios should consider alternative outcomes of the critical assumptions, such as significant market disruptions, regulatory changes, and technological changes. 3. The contingency plan should outline specic actions to counter or mitigate the risks and challenges outlined in each scenario Hickson, D. J. (n.d.). 4. The allocation of resources must be feasible and aligned with the organization's priorities, including nancial, human, and technological resources. 5. Establish a robust monitoring and evaluation framework to track the occurrence of critical assumptions, evaluate the impact of scenarios, and assess whether contingency strategies are effective. This way, the plan can be adjusted and rened promptly Hickson, D. J. (n.d.). To minimize disruptions to Novartis Pharmaceuticals Corporation's business, Novartis Pharmaceuticals Corporation utilizes assumption-based planning to develop a contingency plan to establish an attempt to mitigate disruptions to the company's business using a contingency plan based on assumptions to help reduce disruptions to business Hickson, D. J. (n.d.). Page 27 CONCLUSIVE REMARKS Conclusive Remarks Dear C-level Exe
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
