Group project
All students are required to participate in a group project that will include the following:
1. The development of a thorough and well-written Team Charter.
2. The selection and Org-Behavior SWOT analysis of a company’s organizational culture, culminating in at
least three (3) recommendations for improvements in the organizational behavior aspects* that would
create a more significant competitive advantage and which are based on lessons learned in
Organizational Behavior.
3. Each student MUST submit a peer evaluation in order to be eligible to receive points for this
assignment. Failure to submit a peer evaluation will result in 0 points for this grade component.
The final output will be in the form of a 20-25 minute presentation with a copy of the PPT slides and 2-3
page executive report (not counting reference material) constituting the full final report uploaded to
Canvas.
Biogen is a global biotech company that focuses on neuroscience. They conduct research and development of treatments for neurological diseases such as Multiple Sclerosis, Alzheimer’s disease, Parkinson’s disease, and amyotrophic lateral sclerosis (ALS), among others.
This is their main website www.biogen.com.
On their website I had previously found their 2021 DIVERSITY, EQUITY & INCLUSION REPORT https:
www.biogen.com/content/dam/corporate/en_us/pdfs/all-PDFs/DEI/Biogen-DEI-Report-2021.pdf. This is the most up to date as of 2/20/23. The 2022 report might come out in March?
I also compared it to information I found on Fortune 500 companies https:
fortune.com/company
iogen/fortune500/#:~:text=Biogen%20company%20profile%20Fortune%20500%20%23,338%20Fortune%20500%20Biogen%20RANK%20338.
Mission - We are pioneers in neuroscience.
Vision statement was not found but I found their purpose statement - Our purpose is to serve humanity through science, so that people everywhere can live healthier, fuller lives.
Company | Biogen
Values - no specific values statement listed. But their culture is defined here Elements of Our Culture | Biogen. Much like the periodic table of elements documents the building blocks of the universe around us, the Biogen Elements give shape to our company’s culture. They include fundamentals like a pioneering spirit, strong ethics, personal accountability, inclusivity, agility, and an unwavering customer focus. Because we have a unified approach to our individual jobs, because we are one Biogen.
Link to their 4th quarter financials Q422 Earnings Press Release FINAL with Tables (biogen.com)
Reviews
Glassdoor - Biogen Reviews: What Is It Like to Work At Biogen? | Glassdoo
Indeed - Working at Biogen: 452 Reviews (2023) | Indeed.com
Potential negative reviews -
FDA controversy over Biogen's Alzheimer's drug Aduhelm, explained (usatoday.com)
http:
fernfortuniversity.com/term-papers/swot/1433/263-biogen.php
SWOT ANALYSIS Comment by Shannon Croft: This is an excellent overall SWOT analysis. Our professor stated in a previous class that the SWOT needs to be focused on the culture of the organization. I think we can use some of the financial information in our presentation, but we need to pull out the parts that directly impact the culture for the final SWOT analysis or indicate how they impact the culture if they are a financial item.
Strengths of Biogen – Internal Strategic Factors
Biogen has many strengths that enable it to succeed in the marketplace as one of the leading companies in its field. As a result of these strengths, it has been able to maintain its market share in existing markets while entering new markets as well. Biogen's strengths are based on extensive research by Fern Fort University
· As Biogen has grown over the years, it has invested in building a strong
and portfolio. Biogen's SWOT analysis confirms this. In order to expand into new product categories, this
and portfolio is extremely helpful.
· Biogen has developed expertise in entering new markets and making them successful. In addition to building new revenue streams, the expansion has helped the organization diversify its economic cycle risk.
· By automating activities, Biogen was able to maintain consistent product quality and scale up or down in response to market conditions.
· Through its dedicated customer relationship management department, the company has achieved high levels of customer satisfaction among cu
ent customers and good
and equity among potential customers.
· The development of highly skilled workers through effective training and learning programs. The company invests a great deal in training and development of its employees, resulting in a highly skilled and motivated workforce.
· In addition to its strong free cash flow, Biogen's strong free cash flow allows the company to expand into new areas.
· Biogen generates good returns on capital expenditures by executing new projects and building new revenue streams.
· Product innovation track record - successful development of new products.
Weakness of Biogen – Internal Strategic Factors
The areas where Biogen needs to improve are its weaknesses. The purpose of strategy is to make choices, and weaknesses are areas where an organization can improve by using SWOT analysis to leverage its competitive advantage and position itself more strategically.
· Integration of firms with different cultures has not been highly successful. Comment by Shannon Croft: Good to use in culture SWOT Comment by Liliana Machuca: ?
· In the niche categories, the company has lost small market share due to new entrants in the segment. To counter these challenges, Biogen must build internal feedback mechanisms provided directly by the sales team on the ground. (recommendation)
· Biogen's profitability ratios are lower than the industry norm, and its Net Contribution % is lower than the industry average.
· There is a need for more investment in new technologies. Due to Biogen's planned expansion and different geographies, it will have to invest more in technology in order to integrate the processes across the board. Right now the investment in technologies is not at par with the vision of the company.
· There are gaps in the company's product line. A new competitor can take advantage of this lack of choice. Comment by Sharlene McLean: A recommendation to reduce the gaps in the company's produce line is that Biogen can add new products, or they can add upgrades to existing products. In doing so they can increase the visibility of their products and ultimately increase their market share.
· Despite the quality of the products, the marketing left much to be desired. Although the product is successful in terms of sales, its positioning and unique selling proposition are not clearly defined, which may lead to competitors attacking it in this segment. Comment by Sharlene McLean: This is where accountability comes into play, example the marketing department give added responsibilities and hold them accountable. Comment by Liliana Machuca: Agreed
· The company raises more capital to invest in the channel because the days inventory is high compared to the competition. Biogen's long-term growth may be affected by this. Comment by Sharlene McLean: Another accountability issue
Opportunities for Biogen – External Strategic Factors
· Developing markets will weaken competitors' advantages and allow Biogen to increase its competitiveness.
· As a result of government agreements and advancing technology standards, Biogen has been able to enter new emerging markets.
· Biogen has the opportunity to practice differentiated pricing strategies in the emerging market with the help of technological innovations. It will enable the firm to maintain loyal customers with high-quality service and lure new customers through other value-oriented propositions.
· An organization’s core competencies can be a success in similar fields of products. A comparative example could be that GE's healthcare research helped it develop better oil drilling machines.
· Stable free cash flow provides opportunities to invest in adjacent product segments. With more cash in the bank, the company can invest in new technology and market segments. This should open a window of opportunity for Biogen in other product categories.
· Government green drive also opens an opportunity for procurement of Biogen products by state and federal government contractors.
· It can significantly impact how businesses operate and provide new opportunities for established players such as Biogen to increase profits.
· It's an opportunity for Biogen to capture new customers and increase market share after years of recession and slow growth in the industry.
Threats Biogen Faces - External Strategic Factors
· The company has developed numerous innovative products over the years, often in response to other companies' developments. The supply of updated products could be more consistent, leading to high and low swings in sales numbers over time. Comment by Sharlene McLean: In addition to above addition to the product line will give Biogen's customers a new opportunity to utilize their product, this resulting in customer loyalty and later increase in revenue for the company.
· Imitation of counterfeit and low-quality products also threatens Biogen’s products, especially in emerging markets with low-income levels.
· In the medium to long term, new technologies developed by competitors or market disruptors could pose a severe threat.
· There is a need for more skilled workers in specific global markets, which threatens Biogen's steady growth. (A recommendation can be made as to how to reduce or eliminate this threat. They can review the requirements for the job positions as well as create means or widen the gap for remote work. Comment by Sharlene McLean: Potential recommendation for this threat Comment by Shannon Croft: Could potentially use this in the culture SWOT
· Rising raw material prices pose a threat to Biogen's profitability.
· Intense competition – Stable profitability has increased the number of players in the industry over the last two years. This has put downward pressure on not only profitability but also on overall sales.
· Demand for highly profitable products is seasonal. In the short term, any unlikely event during the peak season may negatively impact company profitability.
· The growing strength of local distributors poses a threat in some markets as competition pays them higher margins. Comment by Sharlene McLean: Customer focus related Comment by Sharlene McLean: One area could be doing more for the same price and finding out from customers what other needs are not being met
Biogen’s elements of Culture are based on their core values as per their video provided on the site. They are as follows: Comment by Sharlene McLean: Listed here are the elements of Biogen's culture
1. Customer Focus
2. Inclusiveness
3. Pioneering
4. Agile
5. Accountability
6. Ethical
Recommendations
· Through its dedicated customer relationship management department, the company has achieved high levels of customer satisfaction among cu
ent customers and good
and equity among potential customers, but at the same time they should be improving the customer relationship with strategies to achieve customer satisfaction.
· The development of highly skilled workers through effective training and learning programs. The company invests a great deal in training and development of its employees, resulting in a highly skilled and motivated workforce. (missing something)