1.0 Product Leadership
AquaBounty is the pioneer company that has established its position in the industry for producing genetically-modified salmon. The other major players that are in the same genetically-modified food industries have a different focus towards crops and plants. As shown in Figure 1, it has a relatively high importance to ensure the success of this technology in terms of marketability. It still has not able to have the largest advantage as the process has not been 100% sterile. AquAdvantage salmon is best known for its larger size of fish and cheaper price. The company has invested a large sum of money into research and development (R&D) to create the AquAdvantage salmon. Transfer of genes might seem as a common practice, …show more content…
It can further invest in R&D to diversify its GMO fish production that has a high demand in the market. This indirectly will contribute to a larger potential of market share. The company must follow a baseline strategy which is to produce supply GMO fish with better performance. As part of its strategy, first, it should further scrutinize the process of genes selection to create GMO fish that are 100% sterile. Secondly, since AquaBounty has two facilities, in Panama and Canada, that are up and running, it has sufficient resources to start exploiting ideas so that the company will always be one step ahead in terms of R&D and production. This way its competitors will face a challenge to catch up with their latest development. The company has been able to create 10 generations of GMO salmon. Thus, the third approach would be finding imperfections in each batch and ways to correct it so that the next batch is always a better production. AquaBounty can finance its R&D through grants awarded by FDA and other private firms. These funding will also be used towards setting up facilities in other locations once various types of GMO fish production
AquaBounty is the pioneer company that has established its position in the industry for producing genetically-modified salmon. The other major players that are in the same genetically-modified food industries have a different focus towards crops and plants. As shown in Figure 1, it has a relatively high importance to ensure the success of this technology in terms of marketability. It still has not able to have the largest advantage as the process has not been 100% sterile. AquAdvantage salmon is best known for its larger size of fish and cheaper price. The company has invested a large sum of money into research and development (R&D) to create the AquAdvantage salmon. Transfer of genes might seem as a common practice, …show more content…
It can further invest in R&D to diversify its GMO fish production that has a high demand in the market. This indirectly will contribute to a larger potential of market share. The company must follow a baseline strategy which is to produce supply GMO fish with better performance. As part of its strategy, first, it should further scrutinize the process of genes selection to create GMO fish that are 100% sterile. Secondly, since AquaBounty has two facilities, in Panama and Canada, that are up and running, it has sufficient resources to start exploiting ideas so that the company will always be one step ahead in terms of R&D and production. This way its competitors will face a challenge to catch up with their latest development. The company has been able to create 10 generations of GMO salmon. Thus, the third approach would be finding imperfections in each batch and ways to correct it so that the next batch is always a better production. AquaBounty can finance its R&D through grants awarded by FDA and other private firms. These funding will also be used towards setting up facilities in other locations once various types of GMO fish production