Millennium Corporation Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

The paper attempts to analyze the critical success factors in the acquisition process of Takeda and Millennium pharmaceutical companies. The paper further analyzes the Millennium organizational cultural change model through the application of Kotter’s Organizational change model. Moreover, the paper attempts to describe the cultural, language, and geographical problems related to the two mentioned companies’ acquisition process. Lastly, the paper describes the recommended strategies for the solution of organizational acquisition problems.

Problem Statement

Millennium Pharmaceuticals has turned in to a profitable company since the arrival of Deborah Dunsire as CEO of Millennium in the year 2005. The company has gone through many management changes within the organization for achieving success in its internal and external business practices. However, in the year 2008 the company was acquired by Takeda Pharmaceutical Company for $8.8 billion. Therefore, after going through many different changes from 2005 to 2007 to provide stability to the company, the company faces another hurdle of acquisition and the merging of different organizational culture in the company. Deborah Dunsire is concerned about the challenge of organization integration with respect to culture, language, and geographical perspectives between the two companies. Moreover, Dunsire is concerned about motivating and retaining the employees of Millennium.

Analysis

Kotter’s Organization Change Model

Create Urgency

The company under the leadership of Dunsire created a strong vision of becoming a competitive player in the oncology market. The company created urgency through informing the sales staff and the entire company about the poor relations with the Wall Street and the poor sales figure. Moreover, in this phase the company identified the strengths, weaknesses, opportunities, and threats for the company. The company did the same and pursued a particular field in which it had competitive advantage instead of becoming the jack of all trades.

Form a Powerful Coalition

Millennium formed a powerful coalition with their investors and their employees in making their task to get completed. Previously, the company had always fallen short of its investors’ expectations and requirements which made their investors less interested in company’s business decisions and practices. The company provided their investors with transparent messages and developed a clear roadmap which highlighted the company’s future prospective. The company managed to achieve sales in the year 2006 which made their coalition stronger.

Creating a Vision for Change

Millennium developed a vision for its company to become a market leader in the oncology business. Dunsire hired top executives of the company in its executive committee which were responsible for making key strategic decisions for Millennium. However, Dunsire also left many key positions as the president of Research and Development for the purpose of giving a strategic vision to the company.

Communicating the Vision

Millennium considered that their vision could only be accomplished if dedicated employees lead the company towards its vision. Therefore, the company developed formalized structures and developed a procedure for the accountability of their employees so that it may increase productivity and differentiate from good and great performers. Goals were formalized at the start of the year and the employees were rewarded on the basis of their objectives and tasks performed the entire year. Rewarding through compensation was the procedure applied by the company in order to keep their staff motivated about their vision and to fulfill the tasks which were performed by the executive committee.

Remove Obstacles

The company removed obstacles from the path of their employees by offering them the opportunity to express their strong views. Dunsire appreciated the interaction between the employees and the leader and thought of it as a fruitful discussion in attaining strong and meaningful results. The company developed a compensation and accountability program to help their employees feel secure in their organization.

Create Short Term Wins

The strategy for the company was remained at reducing the overall cost and increasing profits by investing in high revenue generating projects. The company also made decisions for hiring more sales representatives so that the company could attain success in some of its divisions. The company successfully targeted physicians to increase their sales for the drug..............................

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