NovozymeStrategy.docx

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NOVOZYME STRATEGY

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NOVOZYME STRATEGY

NOVOZYME STRATEGY

Group 2

Members: Joseph Perrine, Morgan Villegas, Carey Kilgore, Alex Jean

Course: SOS 509

Arizona State University

06/16/2021

Novozyme Strategy

The pros of the company staying in the present sustainability journey are that Novozyme will be able to cut costs as they concentrate on making improvements that will improve operations and enhance competitive standing in the market. Staying on the present suitability path will attract more customers, increasing revenue. When the company implements improvements, it will strengthen its reputation. The sustainability culture in the company will help boost the workforce and innovations, as employees are engaged to work as a team to identify and implement sustainable initiatives. The current sustainability path will continue to make a positive societal impact, which will help increase the company’s profits.
The cons of maintaining the present sustainability objectives are that it may increase labor costs and labor intensity to maintain the company’s stability. The company may also increase some capital costs to help them upgrade their current system. The current strategy may lead to minimal effective service, since sustainably produced products and services may be less effective in performing a particular task. (Halisçelik & Soytas, 2019).
The pros of Novozyme doubling down on its commitments to the sustainable development goals (SDGs) are that this path will help ensure that workers’ health is given priority, along with the health of employees’ family. Furthermore, the company may provide the platform, so that all stakeholders are given equal rights to express their concerns about the company. This will contribute to achieving the goals of the company in a more holistic and effective way. By giving priority to the SDGs, through the targeted equity and sustainability training of employees, the company will realize better performance, leading the company to achieve their top-level goals.
The cons of Novozyme doubling down on their commitment to SDGs are that they may experience corruption within the organization, which may hinder organizational success and reputation. Moreover, when the company funds are used for selfish interest, it is likely that this will impact the company’s market share. Further, services and working conditions may be affected negatively if not managed properly, which has the potential to impact internal and external stakeholders in detrimental ways.
Changing Novozyme’s strategic planning by rebranding and introducing a new product to the market will bring better outcomes, as this strategy will attract more customers and market interest. However, changing the company’s strategy and operations may result in significant cost increases, as introducing the changes needed in the company can be quite expensive in terms of time, labor, materials, marketing and so on. Further, marketing of these new products will certainly be a consideration. It may take a long time to make the customer aware of and accept the new product. Suppose the customers do not accept the new product introduced to the market. In that case, it will bring a significant loss to the company, and recovering the loss may significantly injure the company.
It may be that a combination of these strategies would best benefit Novozyme. Certainly, Novozyme should continue on their current sustainability trajectory; however, it would benefit the organization to place greater focus over time on progressing the UN’s SDGs. Further, when it is deemed wise, Novozyme may choose to rebrand or bring a new product to market. Each of these strategies have pros that may be worth the risk depending on the current position of the organization.
The employee stakeholders are the biggest blockers that Novozyme realizes in its course of action. The recommendation projected to manage the blockers is that the company ought to train on recognizing project blockers, since blockers need to be addressed in to achieve objectives. Communicating about the problems in an asynchronous way will help the company to focus on other important tasks that the company needs to concentrate on until it gets the information it requires. Further, Novozyme may break through the blockers with Unito, whereby the company may project important information to reach all staff and employees. When the company uses Unito, it can persuade employees to implement new strategies and ideas. Novozyme can avoid having blockers impact operations if they take advantage of project management software and workflow tools.

References:

Halisçelik, E., & Soytas, M. (2019). “Sustainable development from millennium 2015 to Sustainable Development Goals 2030.” Sustainable Development, 27(4), 545-572. doi: 10.1002/sd.1921.

Koroleva, O. (2017). “Methodological Approach to Conducting the SWOT Analysis of the Trade Cluster of the Region.” Region:Systems,Economics,Management, 36(1), 82-87. doi: 10.22394/1997-4469-2017-36-1-82-87

Zelleke, A. & Billaud, E. (2017, Nov 28). Passion and Strategy: Novozymes’ Embrace of the UN Sustainable Development Goals. Harvard Business School.