West Pharmaceutical Services peaks my interest as they do work in the form research and development of medicine delivery systems. They have had years to refine the company from its start in 1923 as it has transitioned from research lab packing penicillin to groundbreaking biomedical product production and testing. I am interested in this company as the various research done at their facilities can supplement my knowledge on the working of various devices within the biomedical industry. Moreover, the company is large enough to allow for personal growth within the company to a high extent as I may grow as a biomedical engineer. I would like to contribute to West’s reliability in creating high-quality and technologically advanced containment and delivery solutions.
A new oral pharmaceutical drug for type- two diabetes had been approved for clinical use, it was called Compound 17392. Marketing companies instantly wanted to have prescribers adopt and sell the product and researchers wanted to further investigate previous reports of liver toxicity in patients. Now since paying patients to try new pharmaceutical drugs was an issue due to it appearing to interfere with clinical judgement and upholding the duty to do what is best for the patient, a new idea of furthering research for the drug came into play. The idea included recruiting a group of physicians who were in the top ten percent of prescribers for type-two diabetes. Following regulations put in place by researchers, these physicians were to enter eligible patients into the trial for Compound
Also backing up their business level strategy is their slogan, “At the corner of happy and healthy”. It is important to have a strong business level strategy and stick with it and to build your company around it. Along with the business level strategy comes the corporate level strategy. The corporate level strategy seems to stress location, location, location. Their strategy is to be at the most convenient places for their customers in order to stand out and make it easy for customers to get to.
The activities and formation of ACOs that do not fall within the "antitrust safety zone" will generally be evaluated by the Agencies under the Rule of Reason, which weighs the potential anticompetitive effects of collaboration against its potential pro-competitive effects, such as enhancing efficiency. The Policy Statement notes that the Rule of Reason will be applied by the Agencies "if providers are financially or clinically integrated and the agreement is reasonably necessary to accomplish the pro-competitive benefits of the integration." Converting from fee-for-service (FFS) model to value based reimbursement has brought many challenges to healthcare providers. These challenges include shift in payor mix, shared savings and increase in tracking provider quality and performance. The shift in payor mix relates to the decrease in commercial patients with higher reimbursement rates while Medicare and Medicaid patients with lower reimbursement rates will increase.
One being the need for a digitized information system in which the data is used to assess what’s working and what’s not more intelligently. This would allow for there to be an assessment of quality or quantity of treatment. (Health care reform debate in the United States, n.d.). Mayo Clinic President and CEO, Denis Cortese describes the four “pillars” of success in reforming the United States health care system by: Focus on value; Pay for and align incentives with value; Cover everyone; Establish mechanisms for improving the healthcare service delivery system over the long-term, which is the primary means through which value would be improved (Health care reform debate in the United States, n.d.). David Leonhardt of the New York Times describes another assessment in which many ailments are treated differently, however have the same outcome.
Introduction Re-invention and targeted approach towards achieving competitive advantage were the key strategic actions taken to make Trader Joe’s (TJ) from a glorified regional convenience store to a nationwide specialty retailer, and that might just be the most important thing in the supermarket business. The footprint of this success lies in the efficient utilization of the company’s resources and their unique capacity to deploy its resource and capabilities(BB835). The result of such unique circumstances helped TJ to stay far ahead of its competitors in terms of customer satisfaction and brand loyalty. This TMA proposes that, through a company’s resources and capabilities TJ managed to imitate Key Success Factors (KSF) that created value,
Steps toward diversifying STEM fields–such as Kimberly Bryant founding Black Girls Code–are especially beneficial to the cause, but we have to remember that expanding STEM will be a lengthy process; just as it takes numerous, continuous steps to run and finish a marathon, so will the journey for diversity in STEM be as extensive. A diversification in STEM needs to happen. The more variant the minds of tomorrow 's scientists are, the more potential there is for new innovations and inventions. But what is holding this undertaking back is the same thing that hinders equal rights: deep rooted stereotypes in our society.
It is perhaps best understood as any effort designed to ensure the continued effective performance of an organization by making provision for the development, replacement, and strategic application of key people overtime’ (Roth well, 2005) Mattel strives to implement a systematic succession strategy that would help it to nourish and preserve its local talent. Robert Eckert devised a plan in which executives were to identify possible leaders within the organization and help them in the role. 8.3 Performance Management Performance management tracking at Mattel assists the employees to assess their progress their objectively and have easy and timely access to actual performance levels.
Research and development is a very important part of their value chain. It is linked throughout almost every aspect of their priority topics including product quality, reliability, and safety, access and affordability, and all the way to their product end of life. Research and development at Johnson & Johnson is used to create new products and figure out ways to improve their old products. Since there are many illnesses that do not have a cure, Johnson & Johnson invests in
There is large investments being made in new technology to reduce production times and improve quality so that patients receive the best quality products in the swiftest manner. Patient care is at the heart of Janssen as clinical trials are on site to always try to gain more information on the potential products to improve. Janssen is a subsidiary of Johnson & Johnson, so to look at the organisation structure it must fall under J&J’s structure first. J&J’s organisation can be split into three main factions; Consumer healthcare, medical devices and pharmaceuticals.
Once appraised by Silicon Valley Press tech, Theranos, a biotechnology company, is losing its name value as days go by. Elizabeth Holmes, founder and Chief Executive Officer of Theranos, was known for her unique story of how Theranos has started. Upon start of the company, Holmes claimed that the Theranos’ technology is new, but different from what is out in the market. New and innovative, this company’s propaganda attracted many people’s attentions. From the start, Holmes’ plan was to provide higher accuracy tests, multiple tests from a drop of blood, and, in bigger picture, more access to its technology to the public.
Many new companies to enter the market without burden of costly tasks such as research and development, clinical trials and manufacturing of drugs. Moreover, patent expiry is one of the reasons which is offering opportunities for lower cost generic manufacturer in terms of greater market access. Additionally, the government has increased their focus on healthcare cost cutting. It is creating pressure on the authority to allow early introduction of low-cost drugs in the
They work on a fixed price model and cater largely to the affluent class. 2. Dana-Farber Cancer Institute: It’s a non-profit organisation which forms JVs with multi-speciality hospitals. It provides outpatient care and the partners provide inpatient care, with 30-35% of patients coming for second opinion. It’s also a premier institute for cancer research which increases its cost of operation.
This theory is based on the concept that there are five forces that determine the competitive intensity and attractiveness of a market. Porter 's five forces help to identify where power lies in a business situation. This is useful both in understanding the strength of an organization 's current competitive position, and the strength of a position that an organization may look to move into. Strategic analysts often use Porter’s five forces to understand whether new products or services are potentially profitable. By understanding where power lies, the theory can also be used to identify areas of strength, to improve weaknesses and to avoid mistakes.
Often media points to Apple’s massive cash reserve as a key strength that the company could leverage to become even more successful (Ferrell & Hartline, 2014). If Apple asked, what should Apple do with the cash (Ferrell & Hartline, 2014)? Apple could better meet the consumer's needs and wants by strategically investing that cash for the company’s future by developing and leveraging a competitive advantage strategy (Ferrell & Hartline, 2014). A competitive advantage stems from strengths the organization possesses and weakness the competitor possesses (Ferrell & Hartline, 2014). Having a competitive advantage over their competitors can also be based on perception rather than reality (Ferrell & Hartline, 2014).
