...| | IMI International Medical Innovations | | | | TABLE OF CONTENTS Executive Summary.........................................................................................................................2 Problem Statement...........................................................................................................................3 Methodology....................................................................................................................................3 General Assumptions.......................................................................................................................3 Qualitative Analysis.........................................................................................................................4 Quantitative Analysis.......................................................................................................................5 Option 1 - Complete further Testing Alone.....................................................................................6 Option 2 - Complete Studies with Government...............................................................................6 Option 3 - Co-Develop with Another Company..............................................................................7 Option 4 - Fully Out-License...........................................................................................................8 Option 5 - Seek "Home Brew" Status..........
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...Pharmacology Phunland When people go to an amusement park, what do they look forward to the most? Cool rides? Great food? How about learning in a themed atmosphere? At Pharmacology Phunland, you’ll get all three! Your family will have a blast in our park while learning all about medicine advances in the 20th century. There are three sections, all with their own specified theme and rides. Additionally, there are two cool restaurants in which your family can enjoy exotic foods. Learn all about the deadly virus in Polio Park! Featuring fun for the whole family, along with a valuable learning experience, Polio Park is themed around the highly infectious virus that swept the world. Being depicted as early as pre-history, polio is a virus that can affect the central nervous system and lead to the destruction of the motor neurons. This can lead to muscle weakness and paralysis. Before the 20th century, polio was found mostly in children between 6 months and 4 years old. However, before the mid-19th century, people who lived in poorer sanitation areas were constantly exposed to the virus, thus creating immunity. By the early 20th century, huge improvements were made in community sanitation. This lead to a pandemic outbreak of polio in Europe, North America, Australia, and New Zealand during the first half of the 19th century. By the mid-1950s, there were not one but two different versions of the polio vaccine. This cut polio outbreaks drastically. In this park, all of the rides have...
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...community. Even though there is a risk with new ideas, healthcare is constantly changing because new technology is developing frequently and there is always room for improvement. What is healthcare innovation someone may ask, well healthcare innovation is new improvements or inventions in healthcare. Patient portals, electronic medical records, medical imagining, medications, regenerative medicine, surgical technology, medical technology, and virtual visits are just a few types of healthcare innovation in the works. Healthcare innovations will benefit patients and health care. The goal of healthcare innovations is to make the quality of life for individuals an improvement. The robotic surgeries allow doctors to perform minimally invasive surgeries instead of making large incisions. Therefore, allowing for better recovery time, smaller scars, less trauma to the body, and decreases the risk of infection. Regenerative medicine allows for new development with regenerating human cells. For example, stem cell transplants, used in treating leukemia, is a form of regenerative medicine. Medical imagining has allowed for quicker diagnosing of patient problems. The new developments in medications are now curing illness that normally would have never given people a fighting chance. Healthcare innovation, in my opinion, will increase health care spending; especially, with all of the new development that is happening. Developing new ideas and creating new creations takes time and money. The salary...
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...Commission, John E. Calfee, who wrote “ Decoding The Use Of Gene Patents,” discuss the use of gene patents and its negative effects on medical research. Crichton and Calfee both disagree on the handling of gene patents. Each source points out the rising medical costs, monopoly effects and impeding the advancement of future research. Gene patents are shown to gradually increase in price. This can be seen when Crichton talks about how a test for breast cancer which could be done for $1,000 has dramatically increased to $3,000, stating “ Why? Because the holder of the gene can charge whatever he wants and does”(Crichton 441). Believing that everyone should be able to test on the gene patent not solely the company who owns it. On the other hand, Calfee argues that not...
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...Q1. How has 3M’s innovation process evolved since the company was founded? Why, if at all, does 3M, known as the “hothouse” of innovation, need to regain historic closeness to the customer? Ans1. 3M Corporation has small laboratory or research and development section with some technicians and doing experiments on sandpaper and developed some core technology at that time for 3M like masking tapes. After such core technologies development 3M achieved global reputation and become “hothouse” of innovation. However the process grows slowly and allows 3M to recognize user needs because 3M researchers contact different employees in factories. In 1990’s 3M have 30 key technologies and get much market growth and for more development and product 3M employing more engineers and scientists. 3M corporation goes high in innovation but they are not able to found what customer need is because of least interaction and closeness with customers and users. This is because 3M need some marketing research and identifies customer needs rather focusing on products and technical stuff. Q2. How does the Lead User research process differ from and complement other traditional market research methods? Ans2. Lead user research is the process in which products may be innovate and developed products on the basis of the information and data collect by customers or user and with respect to the need of users. By the help of lead user research organizations are able to identify the client...
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...Case 4 : WL Gore Introduction W.L. Gore started as a small company in their basement and has grown into a giant manufacturer with the company’s products being used globally in almost all sectors, including automotive, aerospace, chemical processing, electronic, manufacturing, healthcare, military, and textile industries. W. L Gore and Associates is best known around the world for producing high performance fabrics, medical products and electronics using polytetrafluorethylene; an artificial fiber referred to as PTFE. The company was founded by Wilbert L. Gore (Bill) and Genevieve Gore in 1958 after Bill left his job at DuPont. Today, W.L. Gore with the guidance of the Gore Family is renowned for not only the products that they produce, but also for their unique culture and design that has set the pace for which others such as Google try to emulate Swot The first and most apparent strength of the W.L. Gore company is its diversity of products. The company is able to market to a variety of industries on a global level, including electronics, medical industry, IT, aeronautics, and telecommunications. This diversity affords the company some protection financially should there be any negativity in a given market segment. Another important strength of the company is its strong growth and financial performance over the long-term. According to the information presented, it has been profitable for 37 years and has consistently ranked in the top 10 percent of Fortune 500 companies...
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...Boehringer Ingelheim: a) March 2012 Stephen Klaschka appointed as Director of Innovation Management & Strategy at BI. To be stationed in USA. b) BI Headquarters in Germany. BI Pharmaceutical giant. c) Decade of consistent growth that outpaced the industry. d) 2010 expiry of patent protection. Revenues dropped by US$ 1.4 billion. e) Company striving for creation of Innovation mindset across all levels of organization. f) Klaschka’s mandate was threefold: i) Create internal network, ii) Establish internal structures, processes, norms and values. iii) Leverage employee suggestions. g) To accomplish this mandate he was given a free hand, but was held accountable for results. h) Klaschka had also to launch BI school of Intrapreneurs. i) Challenges faced by SK, i) How to change DNA of BI. ii) How to develop framework for innovation and institutionalize it. iii) How devise matrix to asses own value addition. j) SK Bio i) Mid 70’s Early schooling. ii) Graduated in 1986 in computer sciences. iii) Developed process management software for his parents dermatology clinic. iv) Then started his own software and IT related business. v) 1st took up job as programmer in medical informatics department. Worked for 6 years while running his own business along side. vi) KS developed proprietary software’s and sold it to firms for a fee and billed them later for updates. vii) 1984 joined Schering as software developer. He automated the clinical trial databases and regulatory...
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...Group 16 Innovation in Product Submission #2 Anant Jain B15131 Ankit Goel B15132 Anshul Jain B15134 2015 1. Introduction Innovation is refinement in a product, process, method, or a part thereof. Innovation has become a buzz-word in recent years, with increasing relevance of ‘innovation-centred business models’, and ‘innovation-led-entrepreneurism’. In fact, the success stories of Industrial America, technological Silicon Valley, American financial market, etc., are tales of constant innovations. ‘Digitization’ has shifted access to knowledge and information from a privilege to convenience: anyone who is willing and able to pay, has an access. Also, sharing of information and flow of payments and tenders through internet has changes businesses like never before. 1.1 What is Product Innovation? Product Innovation can be defined as creating a new product, or making changes in the existing product, or creating a differentiation in terms of utility or features of the product. Light Bulb, telephone, microprocessors, digital displays were great innovation in terms of making of new products, i-pods, cell phone, integrated circuits were innovations in terms of modification in existing products. Not all product innovations are technological breakthroughs- take a safety pin for example. Even candle, fountain pen, and scissors are examples of path-breaking revolution, that didn’t require significant technology, or invention capabilities. On the other...
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...Acquisitions and the emerging market strategy Since Nestlé is a global organization, the strategy of acquisitions and mergers is widely and frequently followed by it. Its competitive strategies are associated mainly with foreign direct investment in dairy and other food businesses. Nestlé aims to balance sales between low risk but low growth countries of the developed world and high risk and potentially high growth markets of Africa, Latin America and Asia. Nestlé recognizes the profitability possibilities in these high-risk countries, but pledges not to take unnecessary risks for the sake of growth. This process of hedging keeps growth steady and shareholders happy. In Asia, Nestlé’s strategy has been to acquire local companies in order to form a group of autonomous regional managers who know more about the culture of the local markets than Americans or Europeans. Nestlé’s strong cash flow and comfortable debt-equity ratio leave it with ample muscle for takeovers. Recently, Nestlé acquired Indofood, Indonesia’s largest noodle producer. Their focus will be primarily on expanding sales in the Indonesian market, and in time will look to export Indonesian food products to other countries. A flurry of acquisitions which has made Nestle the biggest food company on Earth In the 1920s, Peter, Cailler, Kohler Swiss Chocolate Company was acquired and with it chocolate became an integral part of Nestlé’s business. This sparked further variety in the products offered – including a powdered...
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...discussion, Team C will find how Riordan can benefit from a new focus on creativity and innovation. As a team of consultants we wanting to help Riordan become a more innovative organization. The proposal will identify the internal and external drivers of innovation for the organization. The proposal will describe how innovation, design, and creative thinking might benefit the organization in terms of meeting its organization objectives. Riordan is a manufacturing company that customizes designs and is also in the leading industry of plastic injection molding. The company also distributes different types of fans and precision medical devices. Riordan is a Fortune 1000 Company that employs 550 people. Innovation, design, and creative thinking are methods used by companies in order to help increase their production, increase their revenue, and establish a strong foundation for the future of the company. Innovation has an advantage over the other methods, because innovation is how companies can maintain their competitive advantage over other businesses and it has become the most important source in the competitive market. Innovation is essentially the process of creating an idea of out scratch, thinking of a way to improve upon current product or services, or to modify the physical appearance if the product is getting maximum performance out of the thorough testing. The purpose of innovation at Riordan Manufacturing is to stay ahead of the market, to spearhead competition, and to...
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...------------------------------------------------- Innovation From Wikipedia, the free encyclopedia For other uses, see Innovation (disambiguation). Innovation is a new idea, device or process.[1] Innovation can be viewed as the application of better solutions that meet new requirements, inarticulated needs, or existing market needs.[2] This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and, as a consequence, new, that "breaks into" the market or society.[3] While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis innovation is generally considered to be a process that brings together various novel ideas in a way that they have an impact on society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. Contents [hide] * 1 Inter-disciplinary views * 1.1 Business and economics * 1.2 Organizations * 1.3 Sources of innovation * 1.4 Goals/failures * 1.5 Diffusion of innovation * 2 Measures * 2.1 Organizational...
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...common industry ambition. Its creation was initiated by the ARTEMIS ITEA Cooperation Committee (AICC). The main goal of this update of the ITEA-ARTEMIS high-level vision 2030, version 2012 is to add a quantitative description of the impact of software innovation on revenues and labour. There are also other aspects of the impact of software innovation, like eco-systems, community building and standardisation. However these are not the focus of this year’s update. Disclaimer The trends and predictions presented in this document are based on publicly available sources. We rely on these sources, without independent verification of the information presented. The nature of this document is for a large part rather a compilation of existing material, than a reinvention of insights. The statements made by Roland Berger Strategy Consultants are based on assumptions held to be accurate on the basis of the information available. However, Roland Berger Strategy Consultants assume no liability for the correctness of the assumptions made herein. 1 Compared to the ITEA-ARTEMIS high-level vision 2030, version 2012 7 Contents Executive summary Chapter 1 - Seven areas of major change Chapter 2 - The need for research and innovation in Digital Technology Chapter 3 - Economic dimension of Digital Technology Chapter 4 - One...
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...Gore-Tex lost all rights to their invention. This allowed other companies to make similar products at a lower price. They now have many competitors. To maintain the advantage, Gore-Tex needs to use their packaging to continue identifying themselves as the superior creator of this type of products. They need to continue selling their brand by placing their labels in highly visible locations. 2. List some of the wide range of products where the Gore-Tex fabric has been applied. “Today the organisation divides its products into four main groupings: medical products; fabric products; electronic products; and industrial products.” (Trott 99) * Medical- implants, vascular grafts, dental implants, and patches * Electronics- cabling used in telecommunication, aerospace, medical industries * Fabrics: waterproof and laminates for backpacks, raingear, coats, gloves, and shoes Reference: Trott, Paul. Innovation Management and New Product Development, 4th Edition. Pearson Learning Solutions. <vbk:9781256085539#outline(8.12.7.1)>. 3. It seems that Gore Associates is heavily oriented towards technology; what are some of the dangers of being too heavily focused on technology? Many times, being too focused on technology, we miss the small stuff that can lead to new and/or better products. Too many projects going on stretches a company thin and can be costly and tie up their resources. 4. Cooperatives and share-ownership schemes provide many attractions...
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...there has been much information for activities that seem out of individual control. In latest civil record, scientific & medical opinions have often contradicted each another. Religious ideas are mainly provided first & then enough medical proof builds up to challenge faith. These conclusions of technology are met with uncertainty and most of them are considered a heresy. Religion and science are available in a kind of pull and push relationship: in a same way like yen doesn’t exists without yes . Research aims to substitute faith with proven medical concepts & religion difficulties the scientific concepts with the durability and results of a faith. Since the dark age groups until the 1700s, spiritual viewpoint was the 200 years, many associates of universities (a school of philosophy), using technological innovation to back them up, came up with fresh ways of interacting with some unanswerable concerns. People have striven to describe the various secrets of the galaxy, and to rationalize our everyday living in it. Throughout this voyage of self-understanding, many standpoints on existence of people have progressed and joined into a complicated, subjective symptom known as Religion. However, as mankind has expanded and innovated itself, many thoughts indicated by religion looks like hardly possible. Developments in technological innovation have produced a new type of individual thought that has disrupted and shaken the footings of spiritual viewpoint. Our new, technically...
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...Singapore Management University Maters of Science Innovation | Core Module MGMT 661 By Associate Prof. Adel F. Dimian My Definition, Understanding and Response of the Lecture Topic & Discussions. Innovation Strategy Development Part 1&2 When the need of wanting to be different arises, the need to innovate takes a strong hold in one’s mind to bring about new changes that are often challenged in many different styles, manner, methods and modes. To my understanding different types of innovations requires and employs different innovative strategy or strategies. Which in turn determines the growth phase of the organization and its strategic approach and desired outcome of the innovation. Developing an Innovation Strategy Frame Work The Innovative ideas and strategy plans and developments can only take valuable shape and growth with the right leadership and driving force. Therefore with the discussions developed and generated, I have come to an understanding that successful innovation strategy is determined by the true leadership of an innovative leader with an innovative mindset who wants to achieve success for his organization, employees and himself. Instead of being comfortable and clustering around a few achieved strategies, a successful innovative leader begins by setting high targets and aspirations for the organization. Followed by recruiting qualified candidates and instilling tremendous positive energy, spirit and enthusiasm in the work environment. Although...
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