Research On The Strategic Transformation Of Innbio Medical Instrument Company

In recent years, in a dynamic market environment, competition among enterprises isexacerbating and opportunity is fleeting. In order to regain competitive advantage,enterprises take the timely strategic transformation as the very necessary way to theirsustainable development.Innbio Medical Company was a small family business, founded in1990. It wasspecialized in medical microsurgical instruments. Although it was in the field ofhigh-tech, the company was only engaged in OEM, agent and sales of imported medicaldevices in a small-scale, with low profits. With excess capacity, product homogeneity,and the further deterioration of the competitive environment, the advantage created by thecompany before existed no longer and the company gradually dropped toward arecession.In this context, the company hopes to use of the big lead of its new projects in theinternational industry to help the enterprise get out of the current impasse, and transformfrom a small family business to a large-scale industrial bio-tech company withsustainable development.In this strategic transformation, the company will transform from a sales typecompany of medical microsurgical instruments agent and OEM to a biotech companywhich is specialized in providing artificial vision solutions for blind patients, mainlythrough providing bio-medical artificial organs, medicine, devices and pre-and postmedical services to blind patients who need the artificial vision treatment.From December2011, the company began the second venture based on itstechnological innovation projects. After a year of preparation, the new project has beencarried on step-by-step before going public. At the same time, under the influence of thetransition strategy, the company also needs transitions in traditional managementphilosophy, values, corporate culture and mode of operation.This paper focuses on using related tools and methods of strategic thinking andstrategic management to deal with strategic issues in enterprise development.On the basis of using PEST, five forces model, value chain analysis to analyzeenvironment of enterprise from both internal and external, we clearly defined thebusiness competition strategy and the strategy of the various functional departments.At the same time, this paper provides specific implementation ideas for the strategictransformation of Innbio Medical Company.Finally, on the basis of the above analysis, the paper designed a new strategictransition path for Innbio Medical Company by using of related strategies theory. That is,at the same time of implementing of the "focus on differentiation and vertical integration" strategy, adhering to patient-oriented, independent research and development,focusing on artificial vision industry, and strive to greater development.