In this group project your team will begin to learn about the elements of strategic planning.

In this group project your team will begin to learn about the elements of strategic planning. Specifically, students will complete an external environmental analysis and an internal environmental analysis. For an organization to do a comprehensive analysis both the external and internal analysis must be completed. The external environment consists of variables that an organization cannot control whereas the internal environment consists of controllable variable. Assessing both the external and internal environments helps develop strategies that create a competitive advantage for an organization. An organization wants to leverage its internal strengths and take advantage of external opportunities. 

In this project, your group will complete a SWOT analysis, a PESTLE analysis and a Porter's Five Forces analysis for BIOTECH. You will then discuss the relationship between these assessment tools and the company's vision statement and mission statement in developing a strategic plan.  Lastly, you will provide a convincing argument as to why the new project meets the strategic plan and why Biotech is well positioned for the future in the nutraceuticals and supplements market.

The instructor will create teams of no more than four team members. If your team has less than four member, it is still possible to complete the project. If for some reason, the members of your group decide to drop the course and you are the only member, you will contact the instructor immediately so that you can be moved to an active group. You may not move to another group because you are unhappy with your team members. You may also not do the project as an individual.

You will act as a self-managed team, which means you are accountable for all of the requirements of the assignment. You team may assign roles and responsibilities. Each member is responsible to meet the requirements of timeline of the project. If a team member does not complete his or her work, it is the responsibility of the other team members to complete that work. If a team does not meet the deadlines for the project, the Late Assignment policy will apply. 

At the end of the project, each team member will complete a Peer Evaluation Form. If you fail to complete the form, a zero will be assigned for the grade. Each member should complete the Peer Evaluation Form accurately.

Read the following scenario:

Valerie Harper has often been responsible for the development of new products based on what marketing considers high target markets. Valerie has recently been handed the research results on Biotech's customer demographics. Based on the research, the Marketing Department would like to see Biotech develop products geared toward the baby boomer market.

From reviewing the research, Valerie noted that Biotech has done little development of the over 50 customer demographics. The current Biotech line has a few joint supplement products and vitamins targeted toward this age group but nothing more. Valerie researched the trends and found high blood pressure, Type 2 diabetes and Alzheimer's/dementia were a few of the major health concerns for the over 50 customers. Further research revealed clinically proven effects of hibiscus tea on reducing blood pressure. This finding led Valerie to consider developing a product that was all-natural, good tasting, and competitive with existing teas. The tea would be pre-made and packaged in paper cartons with coated sealant. The plan is to promote the tea as natural products for green accountability. The tea container would include a straw so potential tooth erosion from the acidic tea could be minimized.  

Valerie also thought about other products that might be appealing to baby boomers. She came across several ideas. The first is a protein bar that was made with coconut, dark chocolate, almonds, and blueberries. The bar would contains all-natural products that would increase the protection of brain function through protective antioxidants, thus protecting against dementia and Alzheimer's. A second bar would contain natural herbs and would be developed with help from a vendor located in India, which helps lower blood sugar in Type 2 diabetes.  

Valerie named the test line Boomers Best Bets for the purposes of development. Having come up with samples of the products, costs and overall descriptions of the products, Valerie and the head of marketing were now ready to approach the Strategic Planning Committee with their new product ideas. Valerie put together a team including a person from Marketing, Production, and Quality Control to review the products and decide how to position the products for acceptance by the Strategic Planning Committee.