Holding Fast Case Study
You can tell right from the start that he is a very big people person and Is incredibly Interested In finding out the needs and what surgeons are saying about the products that he puts out. After Peter Walsh enters the seminar is put on hold and they all go out to lunch.
During lunch one of the surgeons launched into a story about having to remove a restorable plate, which are fixation devices that instead of having to be removed by doctors after the bone Is healed these would Just disintegrate after the bone had been healed which would mean that you would not have to have surgery again to remove the plate.
The story however takes a sad turn as you find out that most restorable plates have a lot of problems that have not been figured out and is still a technology that is not capable of doing what it says. The surgeons asked Peter Walsh when Scorecards would plan to launch its own resolvable and his response was that Scorecards is a company that has a reputation for quality and that resolvable were not at the stage where they would live up to what they set out to do. Resolvable are a huge potentially untapped market so Peter Walsh made it his first priority to find out where scorecards Is at with Its resolvable.
He talked with Gary Milkmen who Is the head of R&D.
He basically confirmed to Walsh that resolvable still are not perfect and that they could not do any more lab work because to find out what problems that they would need to solve they would have to actually test there resolvable on people. A week later they had a meeting where Jane Almost the vice president of sales was excited at the prospect of putting resolvable in their lineup of products while Chief marketer Diane Robinson was completely of the opposite opinion and thought it would be a huge misstep to bring resolvable as part of their product line.
Nothing was settled at this meeting. The next day Walsh had a meeting with COOP Calvin Westbrook and asked him to weigh in on resolvable. Calvin Westbrook also expressed feelings of not having much faith in resolvable and making it seem like there was no need to rush into resolvable.
2. There are many drivers of tensions related to Scorecards offering resolvable to the market. First off Scorecards Is a company that is known for the quality of products they put out and they have a reputation built on the fact that they only offer quality products.
If they put scrabble’s on the market they would releasing a product that has a failure rate and would stain their reputation. Also If they were to turn to resolvable It would be a huge Flanagan undertaking because they would have to offer a wide range of resolvable if they wanted to compete which would wouldn’t reach profitability if 1 OFF teen Llano’s scale production. One Idea was Tanat teen snouts offer a smaller range AT these products to Just the pediatric market but was quickly shot down when there legal counsel Sam Maddox told them how bad it would look if they used children as the Guiana pigs for this project.
Another point that was brought up by the COOP Calvin Westbrook is the fact that if even if they were able to make a product that would work than the whole industry would move towards resolvable and even though their profit margins would be higher, the costs of retooling equipment and factories would be such a high capital expenditure that it would not be worth it. 3. After thinking about it for some time I cannot support Scorecards launching resolvable on the market. I feel that it would be a huge misstep for them to Jump into the market and that there is no harm in waiting it out and seeing how things develop in the industry.
I think that the alternative path they should take is they should keep working on improving the non-restorable plates that they put out and should not put much focus on resolvable.
I think that there are many more pros to not focusing on resolvable than there is if they did focus on them. I find it hard to see why they would take the risk of launching a line of resolvable. 4. There are many pros in not going forward with resolvable. First off Scorecards will keep its high reputation because this will show that they do not want to rush products onto the market, specially products that still have many problems that need to be solved.
Another advantage is that they can focus on the products they are good at making at can work towards improving the products that they are currently making.
Also they will save themselves a huge financial risk because resolvable are not a proven product and they would have to change the way manufacture things and would have to retool their entire factories to make a huge change like this, that might not even pay off in the long run. It seems like if they were to focus on making resolvable it would be a sigh-risk and low-reward type of situation.
There is not much that they can win from entering the restorable market. One of the cons of not entering the restorable market could be that they will lose businesses to their competitors that offer resolvable. But as long as they stick to making high quality products I feel that their competition will not be able to steal a significant amount of the market that they control.
5. I feel like this was a very interesting case to study. One of the things that I feel like I learned is that it is hard to predict what the market is interested in.
During the case study it was presented that surgeons are very interested in resolvable and because of their interest some of the competing businesses have taken some of the customers that Scorecards had away. But at the same time it seems that surgeons have a huge mess to deal with when resolvable don’t work so it is hard for me to grasp how much surgeons are really in the market for resolvable and why companies would go for it when it’s been something that has been on the market for over 20 years and has not fulfilled what it said it could do over 20 years ago.
So for e I can see why it is hard for business to be sure on what they should focus on making.
Another interesting thing that I have learned is that it is important for a wide range of people to provide input when you are trying to make a decision that can affect what you do so broadly. I thought it was interesting how in the beginning CEO Peter Walsh is very excited about getting resolvable off the ground but as the story goes on and he meets with different people with different responsibilities in the company en sees all ten ways Tanat It malign not De a good Idea Ana now you snouts examine alternatives on the things that you want to do.
It shows me that you need a wide and diverse group of people to run a company because to me it shows that different opinions and viewpoints are very important because if you have a group of people that all share the same common views that you can run into problems of making decisions that can turn out bad Just because you did not have people telling you what the problems would be with making that decision and I feel like that could be a big problem. So I feel a diverse work group is important for dealing with things like this example of if resolvable are worth putting out into the market.