Leadership Role for Genovus Biotech Genovus Biotechnologies (Genovus) is a small startup medical device company. The company has developed a medical device to help increase muscle function for individuals with multiple sclerosis or other neuromuscular diseases. The company is in the early phases of efficacy testing with a small exploratory study. Genovus’s extremely small budget has the Genovus leadership actively fundraising to secure Seed A funding. Once the company has procured funds, the leadership team will fill key roles. One of those roles will focus on product portfolio management and quality management systems to ensure product development efforts support the company strategy, and products are developed using solid quality management processes to pass through the Federal Food and Drug Administration (FDA) requirements. This paper reviews the description of the role needed for Genovus, the process for the individual in this role to make decisions, additional considerations for the leader to be effective in this role in the Genovus business environment, and an outline of the decision-making approach along with an overview of which decision-making theories were used in the analysis. Description of the Product Portfolio and Quality role and responsibilities Genovus needs a leadership role to drive the creation of …show more content…
In order to maintain proper focus in a startup company, creating a framework to vet new and existing product ideas ensures entrepreneurs do not over allocate the companies resources (Van Zant et al., 2013). Figure 1 displays the product decisions that need continual management and review across the full product portfolio based on available budget and adherence to company strategy (Smith & Sonnenblick, 2013). This framework supports both startup and large-scale