Published: Wednesday, 11 May 2016 08:58
Written by Rodney
Novozymes, coined in the year 2000, is the world’s leading company in industrial biotechnology, specifically for industrial enzyme production. Its main products are industrial enzymes, microorganisms, and biopolymers or biopharmaceutical ingredients. With over 6000 patents, it is clear that Novozymes has taken the world by storm and the situation inbound to remain that way for the near future. Novozymes has established itself in over 138 countries, contributing to an estimated 46% market share in the global arena. Boasting over 700 products, coupled with the solutions and innovations that Novozymes has shown since its inception, not many would argue with the fact that Novozymes is destined for greater. One is only left to imagine the magnitude of milestones it can achieve both shortly as well as in the unforeseeable future. Despite the huge amount of strengths that Novozymes has in its locker, it has also faced challenges in equal measure, with opportunities as well as weaknesses that are inherent within its systems also existing. Apparently, Novozymes saves on cost, which is a major strength, although the fact that chemicals are substituted for more organic raw materials makes a very good impression too in the sight of many. Novozymes claims that using it reduces the environmental impact of their production since the need to use raw materials reduces. An investigation into the validity of this statement was important to see if that is part of the reasons their customers prefer their products over other products, and which forms the purpose of this study. Detailed financial, both internal and external environmental analysis, political, legal,social, and technological analyses are also part of the paper. The aim being to establish Novozymes position in the world market and the process analyses its strategies in getting in touch with the world. Product Value, Rarity, Imitability, and company Organization analysis was helpful in determining Novozymes’ internal resources and capabilities, whereas Blue Ocean Analysis was used to analyze the gaps and opportunities that exist for Novozymes, besides Competitive advantages over its rivals. The paper also provides recommendations on what Novozymes may get involved in to widen its market quicker as well as ideas on how best to make good use of its resources.
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