MNG3702 Assignment 2 Semester 2 2022

MNG3702 Assignment 2 Semester 2 2022. MNG3702 - Strategic Implementation And Control IIIB Applying the phases to the case study Phase Application Individual learning Individuals like scientists gain knowledge in areas like endocrinology, neuroscience, oncology, immunology and cardiovascular medicine in order to discover and develop new products and also new processes to develop products quicker. Transferring knowledge to other members of the organisation The scientists share the knowledge with other scientists and management teams. Applying acquired knowledge in management practices Eli Lilly management then drives the application of the knowledge in their management practices. Organisational learning can assist Eli Lilly in overcoming the threat of generic pharmaceuticals by the individual’s gaining knowledge on how to make innovation of medication more cost effective and quicker. Once optimal processes are identified it can be transferred to other individuals until it becomes common practise and is applied to the management practises of Eli Lilly. 3. Question 3 Absorptive capacity the ability of an organisation to recognise, assimilate and apply new or external knowledge to address problems within the organisation and even benefit the performance of the business. There are four dimensions that determine the absorptive capacity of an organisation; 1) Acquisition – This is the capacity of an organisation to identify, interpret, and acquire the knowledge needed by an organisation to perform their operations. Considering all the products that Eli Lilly have developed across a number of products and business segments, it is evident that they are very capable of gaining knowledge in order to produce these products. They do this mainly through their research and development of new medicines. 2) Assimilation – This is the capacity of the organisation to understand, analyse, process and interpret information from external sources and integrate it into the organisation. Eli Lily has to consume external information in order to deliver their products, like knowledge of regulatory approval processes, patent laws and new disease research, which they use to integrate in their research and development processes. 3) Transformation - This is the capacity of the organisation to combine existing knowledge with new knowledge and then assimilate this knowledge in order to develop and refine processes. Eli Lilly has transformation capacity because they have identified their major threat, being generic pharmaceuticals and have used this knowledge to strategize how they can encourage faster, less expensive innovation. Another example is the knowledge of the COVID-19 virus and the development of