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Reviewing the business model of nanophase, we can explain that, nanophase business model always uses circuitous merchandise to the customers, for most of its interest .to solve problems the company's make use of the owners knowledge and also thing or substance which is produced .To discover dissatisfying wants set of people work together, cooperate with an imminent customers .Which meet the needs of the favored markets ,internationally and few domestic sales were made through discerning practiced person acting for another in business and an agent who supplies goods .To enhance the size of their interest nanophase also got occupied in systematic investigation of material,machinery,grant license and promoting strategy of formal union or association .Staff members manufactured only those materials in the market which had high equipment and which economically gave tough competition. Nanocrystalline materials also assured to add the most value of giving moral benefit to play proper role to their performance. To the customer's request nanocryatalline materials were established by the person who is skilled in the field of engineering. So that they get maximum profit most of the times in most of the cases .The key elements of this model are
-what is nanotechnology?
Nanotechnology is the branch of knowledge involving systematic observation of their knowledge which is combining form of one thousand millionth instrument that measures or records -the world smallest particle of chemical element that can take part in chemical reaction and group of atoms forming smallest fundamental unit of chemical compound.
This equipment always assures to change the way of living, the way of striving against disease, the way of producing and the way of traveling through universe.
-History ofÂ nanophase technologies and corporation.
In the mid of 1980 they founded the signs of nanophase technology by investigation. RICHARD SIEGEL an international scientists who did the systematic investigation of materials and who elaborated the "physical vapor synthesis" By making use of (pvs) process ,the task of nanophase was to manufacture the combining form of one thousand millionth structured materials.
-Protecting the intellectual property.
Nanophase was also booming in protecting its equipment, tools and processes with official document.
-Reducing manufacturing costs.
To reduce manufacturing cost, Nanophase placed an important research on its machinery for its development on systematic investigation of materials. They were also provided with money by the company to improve making of articles for their financial profit of its production.
Nanophase has financed say about $19,558,069 which private company offered for equity securities. In 1997 public offered 4,000,000 common shares at $8.00 a share to increase $28,837,936 for the development of the company.
-Transition and changes in management.
In elaborating high technology their executives tried to speed their condition to raise the financial profit. Developing so many projects nanophase had to undergo and did not have enough products and customers also brought into existence a dependable interest stream.
-The science of nanotechnology at nanophase.
Using metallic cerium, copper, iron etc. nanotechnology is used to manufacture nanocrystalline particles.Â
Marketing strategy used by nanophase is to develop their business with their team work which they used on nanotechnology with new applications to tie up with new customers. This stage of growth in business included different activities such as estimating and accomplishing capable market opportunities. Growth of this long term plan which recognized the lead customers in each market and which successfully made their way into the market .nanophase also formed a technical team by appointing a proper engineer so that they can come out with proper solution. one-third of the staff were expertise in various fields such as material related, including science of elements and their combination, ceramic products, science of properties and interaction of matter and energy, applications of science to design and uses of various machines and building. To find out precisely what kinds of functions are needed to the customers nanophase had applied nanoparticles skill and appointed the best expertise to understand the needs of the customers and also their problems. The team also formed partnership deed so that they can give proper services to the customers. Once they done with proper services, staff and team members moved to sales department. By selling the products they had also set a target in minds of the customers. To make their business success they tried to make the maximum profit. The company's main motive was firstly to fit its primary business strategy and then to make maximum significant customers .The role of collaborative relationship of marketing strategy with the customers started developing when the staff members started fulfilling all the needs of the customers .Maintaining relationship with the customers helped them in arranging systematic chemistry which helped the people to do things they cant have done in any other way .To cooperate and manage with the customers was too expensive and was also time consuming .Then to some staff members and management of the company expected that the expenses would decrease when there is production development of the company. For introducing nanoparticles to the prospective customers, agents started bringing their years of industrial experience and contacts. TheÂ experience of the sales agent which were selected by the company were very fast and they also had cost efficient way to increase the sales long term plan of the nanophase. The company always tries to form close relationship with selected agents so that that can speed with their production horizontally and can be applied on certain things. The problems faced while forming this strategy was majorly seen in the year 2001.This year prove very difficult for nanophase .The profit of the company temporarily declined in economic activities. The company also declined in manufacturing sector which resulted badly in companies primary customer base .Because of the capability of nanotechnology revenue continued to remain strong so that it was still very difficult to animate the revenue of future expected customers who were also going through different profitable challenges and also degenerating their business activity .these were the problems in this strategy.Â
There are many competitors' to compete against nanophase. The technology of nanophase is not properly defined and it is also new, so there are many new competitors who can start their business .The competitors who plan their long-term policy in chemical companies and also from the other participants who form their own industry, nanophase can face competition from these competitors. There are five types of industry who can give competition to nanophase.
First, there are many chemical companies which are situated in United States, Europe and Asia. This states form their company and they have started manufacturing silica, carbon black and iron oxide nanocrystalline on a very large scale so that they can sell this to maximum customers. They started their manufacturing worldwide so that they can become famous and tie-up their companies name with Bayer AG, Cabot Corporation etc.They also have an ample amount of financial, technical wealth, big investigation, more increasing staffs and huge advertising and mechanized capability.
Secondly, there are OEMS who have started making nanocrystalline resources which are manufactured only by their owners and were used only for their products. They are trying to follow with view of overtaking some application that includes biotechnology, petroleum, computing and microelectronics etc. These companies are capable enough to sell nanocrystalline resources which are not useful in their own operations but which are needed for outside customers.
Thirdly, these start-up companies are the most important companies which will compete the strategy of nanophase. The companies are Light-year technologies INC, Argonide Corporation, Tal materials INC, Nanomat, Oxonica ltd, Nanopowders industries, Nanopowder enterprises, Nano source technologies these all are private ltd company. They are trying to develop employees in research organization to develop nanotechnology because they were trying to trying to make them official because they were investigated by some scientists and engineers. Fourthly, they have the ability to manufacture nanocrystalline materials in small quantities using one out of two manufacturing process. Finally, Altair nanotechnologies are still upcoming competitor who are planning strategy to compete nanophase.Â
Yes, there is management strength in this company. Nanophase has managed all ups and downs of the company. Nanophase has reviewed the business model. It has very well managed the marketing strategy of the company. This company has also faced the upcoming problems. Company had faced some major problem in 2001.but it was solved till the year 2002-2003.company has also fulfilled all the needs of customers. Many new technologies have also invented by the company .They also processed PVS. Due to which nanoparticles were produced. Due to nanotechnology there is certain development in product markets etc. It has also looked after health and personal products .It has managed in all fields. In technical, sale or manufacturing department. This shows management of nanophase, became strength of this company.
Â Nanophase case study 6-19, module handbookÂ PG-49, 44, 45, 50,51,52,53.
Nanophase Technologies Corporation, 2001 annual report.
Nanophase technologies corporation, 2000 annual report; sec from 10-q, May 15, 2002
www.nanophase.com : Nanophase 2001 Annual Report: Sec from 10-k 405, 1997.