Becton Dickinson Designing the New Strategic Operational and Financial Planning Process Robert Simons Antonio Davila Afroze Mohammed 1996
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I was a marketing director with Becton Dickinson, a $7 billion dollar multinational medical technology company that designs, manufactures, and sells products to the healthcare industry worldwide. My job was to lead the company’s global sales teams that would design, implement, and execute strategic marketing and sales programs. I wrote the strategic operating and financial planning process we had been discussing with our senior management team, and a new set of for sales. One of our sales management team members, Dr. Robert Simons,
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Becton Dickinson Designing the New Strategic Operational and Financial Planning Process Robert Simons Antonio Davila Afroze Mohammed 1996 For over 120 years, Becton Dickinson (BD) has served as a key partner in helping healthcare professionals and patients to deliver more safe, effective, and efficient care to a growing number of patients. Their technologies, products, and services enable healthcare organizations to collect, process, and analyze data to make informed decisions and deliver better care to more patients.
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I have always believed that a company that designs its business, finance and strategy in such a way that the products/services are in demand, make money and improve the shareholder value of the company, will be able to overcome any adversities. Innovation, market penetration, customer loyalty, market share, return on investment, return on capital and return on equity, are key determinants for a successful strategy. Becton, Dickinson was, and still is one of the most well-established US corporation in the medical equipment industry with revenues
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When I was at Becton Dickinson, I had the privilege to be part of an important change process that was designed to transform the organization from one that was highly specialized and geared to specific medical device needs to a much more flexible and responsive organization capable of addressing broader market needs in a rapidly evolving industry. This process was called “Strategy + Operational Planning + Financial Analysis + Communication (SOFAC) “— I thought it was a very good model, and it served to create a shared vision among our businesses,
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1. Becton, Dickinson and Co., Inc., is the world’s leading medical technology company. case study help Its operations are distributed across various segments, with an emphasis on the fields of diagnostics, imaging, disposable vascular access and infusion products, and drug delivery. The company’s history can be traced back to 1896, when Becton started as a medical instrument manufacturer. 2. As a global leader in its industry, Becton, Dickinson’s customers include large healthcare providers, research organizations and
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Becton, Dickinson Company is a privately held company based in Newark, New Jersey that manufactures medical devices. This company was founded in 1901 by Robert J. Becton and Richard Dickinson. The company has a long history in the medical industry, having evolved from a simple medicine storage container to a complex manufacturing and supply company. Becton, Dickinson and Company (BD) is a diversified healthcare company that provides a variety of diagnostic, medical, and surgical products to hospitals, clinics,
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“Becton Dickinson (BD) is currently designing a new strategic operating and financial planning process. The company is currently undergoing a significant organizational and operational change. BD has embarked on this change to enable growth and profitability in a very challenging market. The new process will be a holistic and integrated approach to planning and performance measurement. The aim of this process is to enhance the value creation processes of BD, while also reducing cost and improving efficiency. The change will take place in two stages. In the first stage, a planning
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Designing the new strategic operational and financial planning process is a strategic process that allows for the development of business planning by the company. The process involves planning and organizing the organization’s activities to achieve its objectives in terms of efficiency, profitability and sustainability. This process is based on the company’s objectives, mission, values and strategy, and seeks to ensure that all organizational activities meet the company’s overall objectives and ensure their contribution towards meeting them. The process of designing the new strategic operational and over here