Strategic Opportunity Management

You are a business development manager reporting to the vice president (VP) of business development at one of the largest life sciences organizations in the Midwest. Their latest venture is producing a new cancer drug. The recent clinical trials of the organization’s flagship product have shown great success and the owners are considering their options for the future. While the organization has shown constant growth and profitability since its inception in 1999, the owners have decided that it is time to sell. Given the current uncertainty in global markets, the board of directors is not convinced that this is the right approach.While work is underway to find a potential buyer, the VP has called on you to join the strategic planning team to assess the organization’s exit strategy and make recommendations to its board of directors. As part of the strategic planning team, you have been asked to make some initial analyses and help plan for the sale of your organization.Your first task is to build a guiding coalition; that is, identify the people in the organization who can shape, guide, and sustain the change effort of selling the organization. You will send your recommendations and rationale to the VP.Identifying people who can effectively lead the change initiative is an important first step. These individuals have the leadership and social skills to ensure that the change effort is communicated throughout the organization; as well, they will report back to the team what employees are saying about the change.INSTRUCTION:Review the scenario for Milestone One. Then record a short video or paper addressing the following criteria:1.    Share your expectations and understanding of the project scenario and milestone submission.a.    Identify any initial questions or concerns you have regarding:•    The project scenario•    The organizational structure•    The employee personas in relation to the guiding coalition•    The deliverables expected in Milestone One2.    In preparation for the upcoming Milestone One and Two assignments, address the following:a.    What is the importance of change management when planning strategic opportunities?b.    Explain the role a guiding coalition plays in organizational change.c.    Share at least one quality you will look for when selecting members of the guiding coalition. Explain why this quality is needed to be a guiding coalition member.