Animal Health Concentration

The purpose of this course is to apply and build upon the ethical frameworks covered in MGMT 807 to address specific issues and considerations present in the Biosciences. Specific attention will be given to the decision-making process within the Animal Health Industry context, including intellectual property concerns. The course utilizes readings, lectures, class discussions, and case studies to enhance the decision-making process for mangers in the Life Sciences.

Life Science Business surveys the pharmaceutical (human and animal health), biotechnology (agricultural, environmental, industrial, and medical), and related (healthcare information and medical equipment and device) industries in “life sciences century” context with a focus on general management considerations.  Coverage includes units on (1) life sciences in cultural context, (2) life sciences and industrial considerations, (3) life sciences, firm dynamics, and new organizational structures, and (4) real effects of life sciences using a range of theoretical, empirical, functional, and longitudinal perspectives.  Course sections in turn cover (a) industry overview and metrics, (b) industry regulation, (c) international considerations, (d) product discovery and innovation, (e) product commercialization, (f) biotechnology, (g) intellectual property, (h) laws and rules, (i) human resources and leadership, (j) interdisciplinary perspectives, (k) collaborative relationships, (l) management integration, and (m) life science business ethics.  The approach is interdisciplinary in nature – with varying emphases on accounting, decision-making, financial, information-systems, international, legal and regulatory, manufacturing and supply, marketing and sales, and research and development issues – while examining selected topics in alternately classical and improvisational fashion.

The emphasis of this course is strategic marketing analysis and planning. Examples of subjects covered are factors leading to the assessment of sustainable competitive advantage (including environmental, competitor, industry, and company analyses), product-market definition, market segmentation, product positioning, product differentiation, and market share objectives.  The various topics are integrated into a strategic planning framework that helps participants translate organizational goals into marketing objectives and strategy.  Students learn how to identify markets, assess differential advantage, select target markets, and develop functional strategies.  The various concepts are applied to strategic and marketing planning issues in the animal health industries.

Successful firms in any industry are led by executives who guide the formulation and successful implementation of distinctive, value-creating strategies that other firms find difficult to duplicate or too costly to imitate.  These executives understand how their firm’s external contexts, internal resources and capabilities and strategic actions combine to determine the firm’s financial, economic and social performance.  This course covers methods for formulating and implementing winning strategies in animal health industries and will address issues of competition and the formulation of competitive strategy towards creating long-term economic value in these industries. Topics included in the course are: evaluating trends in the general environment to anticipate emerging opportunities and threats, evaluating industry economics and the profit potential of the firm’s strategies, guidelines for the formulation of winning business definitions, value propositions and competitive strategies, and successful approaches to implementation through the organization and management of strategic resources.  Students’ mastery of course subject matter with be evaluated through the preparation of an analysis of both successful and unsuccessful firms in the animal health industry of their choosing.

This course examines the role of law and government regulation on bioscience innovation and the delivery of existing bioscience products and services to markets in the United States and selected other nations.  Particular attention will be given to FDA and EU regulation.  The course will consider the affect of regulation on innovation and marketing activities in bioscience-based industries such as animal health.  The course will also discuss the ethical and economic implications of accelerated technological change in the biosciences, such as the role of intellectual property law in the biosciences.

Business Consulting will present students with real business challenges requiring real time analysis, consideration of practical alternative strategies, exploration of sales and profit implications of the selected strategy, and delivery of a fully rationalized recommendation to real clients. The course curriculum consists of text learning/discussions, relevant case study analysis, and in-field consulting project development. Benefits to students enrolled in MGMT 895 include understanding clarity of the linkage between models and theories studied in the classroom and their application in the field, direct interaction with clients at sophisticated corporate organizations, first hand experience in addressing significant business challenges with impactful and lasting solutions, while enhancing leadership capabilities through interaction with other team members.

This advanced entrepreneurship course emphasizes the competencies and skill sets required to start, grow and harvest a new venture. Specifically, focus will be directed against identifying and evaluating the business opportunity as well as entrepreneurial capabilities required for marketplace success. Development of a robust and compelling business concept will be emphasized. Financing the new venture, sourcing and structuring the required deal capital will be studied. Finally, attention to managing rapid growth and exit strategies will be provided. Upon successful completion of this course, the student will understand how the various business disciplines fit together to form a viable business proposition as evidenced by an effective business plan. The course will consist of text and case studies to learn the process, components, research and the writing of an effective business plan using live projects with possible commercial potential.

The course is designed to develop an understanding for the need for a disciplined process of development, and to follow the basic steps of opportunity identification, testing, and implementation. It deals with the strategies, techniques, and methods used to develop and market a new product or service. The emphasis is on “learning by doing.” The course will focus on the enhancement of innovative thinking, the identification and development of marketing opportunities, entry strategies; and developing the marketing mix for the new product. Prerequisite: BUS 710 or BUS 711 or permission of instructor.