Organizational Innovation Analysis
An analysis of the current organizational status is crucial to successful organizational change. This writing will evaluate the current innovative level within The Cancer Fund. your organization, or an organization of your choice. In writing an organizational analysis paper, the following questions shall be addressed: What are your organization’s competitors’ current innovation trends?
- What are your organization’s competitors’ current trends of innovation?
- How does The Cancer Fund’s innovativeness compare to its competitors?
- Which internal stakeholders are responsible for supporting innovation? In what capacity?
- This writing shall examine my organization’s structure, systems, and people and how adaptable the organization is for implementing innovative principles and practices.
- How does my organization leverage analytics or trends to justify innovation
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Competitor Trends
Our organization is the first venture capital fund that invests solely in cancer treatment. We defer from other funds because the Cancer Fund embraces transparency, so investors have clear visibility into where we support. (Cancer Fund, 2022)
The Cancer Fund differs as its culture is built on innovation. Our organization needs to develop a stellar portfolio of companies (Innovators) to reach our higher calling. All team members have been affected by cancer directly or indirectly by other venture capital funds (VC). With the Cancer Fund, potential investors help cancer innovations reach patients and maybe earn a return on their money . . . “not at all like donating.” (Cancer Fund, 2022) Understanding and differentiating the Cancer Fund from any charitable organization is essential, as venture capital funds have unique strategies to implement differing investment theories.
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Which internal stakeholders are responsible for supporting innovation? In what capacity?
The internal stakeholders responsible for supporting innovation are Anthony Bajoras, founder; Ann Low, cofounder; Jeff Rea, cofounder, stakeholder engagement. In addition, the Venture Partners are responsible for vetting organizational effectiveness, which helps owners, executives, and entrepreneurs solve complex business challenges. (Entrepreneur and Veteran Mark Garland Joins Cancer Fund, 2022) The previously mentioned founder and cofounders focus on impact more than just returns and on helping its founders (and innovators) navigate the very complex and daunting systems of healthcare, both in the US and globally. (Cancer Fund, 2022)
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What is the Cancer Fund’s structure, systems, and people, and how adaptable is the organization for implementing innovative principles and practices?
The Cancer Funds structure consists of four founders, venture partners, a venture studio, a director of community development, a venture analyst, an ambassador, and our social media manager.
The Cancer Fund’s Systems are as follows, a company seeking VC from our firm contacts us online. Their contact information is shared with the founders and venture partners who express interest or have acumen in that specific space. Once the interested investor is accepted by one of our teammates, our Director schedules a conference call to introduce our vetting and innovation process; at that time, an internal operations person is assigned to assess the organization’s needs. For example, we may have an innovator seeking an investment that needs more business expertise but is an expert in their field. The venture partners would work with them to develop their company and make them attractive to other investors. (Aulet, 2013) We are a new organization, so our model continues to evolve to meet the needs of the Fund, innovators, and the demands of cancer patients. In essence, “we are a community investing in innovations to improve patient outcomes, expand access to care, and reduce the cost of care for ourselves and people like us . . . patients, survivors, and individuals at risk of developing cancer.”(Cancer Fund, 2022, Our Way section)
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How does my organization leverage analytics or trends to justify innovation?
The Cancer Fund works with a community-based approach to selecting portfolio companies. The portfolio companies are entities where we raise venture and investment capital. Our organization leverages analytics and trends as follows,
- Decsheet – the investment team reviews company presentations to identify new technology or treatment plans for all cancers (pan).
- Leveraging – we use the data presented by the companies that pitch to us to determine our initial interest. Once our interest is piqued, we use agnostic data to ensure our assumptions align with our pitch companies.
- Technical review – we have a team of doctors, scientists, and business professionals that reviews the specific data and trends in cancer research and development to determine if a company’s business hypothesis to determine if it aligns with our investment philosophy.
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Conclusion
In conclusion, the Cancer Fund attracts innovative organizations, primarily startups, that seek venture capital and other funding mechanisms. By design, our portfolio companies are cutting-edge innovators in the cancer space. For example, Reglagene developed oncology medicines to treat life-threatening brain cancers. In addition, the Reglagene group is creating a first-in-class blood-brain barrier (BBB) penetrant medicine that effectively fights brain cancer. (Cancer Fund, 2022, Next Frontier section)
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