Case Study Example | Topics and Well Written Essays - 750 words - 22

Case Study Example CRO business has seemed to become very popular in aiding with FDA approval. FDA approval is not something that is easily achieved. Before drugs are able to become available on the market, they must go through hundreds of tests. These tests ensure that the drug is safe. Safety of the drug is important for the lives of those using the drugs and the company’s and CRO’s creating and testing the drug. In order for these CRO businesses to become successful, the firm’s name has to achieve a good reputation and maintain a level of standard that other companies would recommend. Kendle has become a company that is recommended. Kendle is doing well for the American market. The American market has allowed Kendle to make it to its full potential. Full potential for a business, in regards to Kendle, can be defined as a business’s achieving the maximum amount of clients for a market. This meant that as stated in the case, Kendle had to sell, grow or disappear. This was a very accurate explanation as to what had to be done. The firm could not just stay how it was. Something had to be done in order for the firm to remain competitive over other similar businesses. Kendle faces many strategic choices. In order to survive Kendle must either decide to do one of three things. The first strategic choice that Kendle can make is to grow and expand the firm. Growing the firm means expanding to other areas and possibly merging or buying out other companies. This choice is perfect if the firm wants to expand and keep the firm going. The second strategic choice is to sell the company. Selling the company will likely be a lengthy process that will include lots of negotiating. Selling means that the original founders will have to find a seller that is willing to purchase for the right amount. This also means that a selling price will have to be decided. In order to decide a selling price the firm will need to find out what the company is worth and decide whether or