Medtech is a pharmaceutical company that has been working on developing cancer drugs for the three years. They have worked on getting them through clinical trials and getting FDA approval for three years. Unfortunately, after working so much on getting the drug approved, they did not have a sales team ready for when the FDA approval came through. They would need to work quickly to get their sales force in place because they only have seven years to maximize on their return.
Doug Reynolds was a university researcher; he left to start a new company. The knowledge Doug had from being a molecular biologist helped with ideas on how to create skin cancer treatments for melanoma. This type of drug would treat melanoma without having to do surgery. Doug
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They call on oncologist and dermatologists. They report to one of the 10 sales managers. Harold is over the 10 sales managers; the sales have not met the company's expectations even though the sales seem to be good. The sales team wants more than they are getting, the sales managers brought it to the attention of Harold, asking for a contest for the sales team to drive more excitement. She suggested that this would help motivated them to generate more sales. Harold did not agree, he thinks since the sales force are paid 100% commission that should drive them to sell more. It was also brought up that the sales force should be reimbursed for entertainment expenses. This would keep them up to date with the competition. Since the 4 years they have been in business, they have not changed their reimbursement policy. Currently, they have give $250 a month for car allowance and $50 for incidental expenses. Since the company is struggling due to their sales numbers declining, he has decided to take a look at the overall compensation plan since he is worried the sales force will look at leaving for a better
Richard Veller, the new CFO for Union Medical Center, began to change the operations of their management. Richard Veller looked to change UMC to an industrial system, which meant that the hospital would view cases as products. Just like any ordinary business, these products would have cost objects and would require an accounting system. In order to allocate costs appropriately, UMC was required to organize their cases into Diagnosis Related Groups to create a functional management control system. These changes brought certain internal issues into the spotlight. If solutions are not found, the hospital will not be able to implement their plans.
EXECUTIVE SUMMARYSilicon Valley Medical Technologies (SIVMED) was founded as a research and development firm. In the beginning, SIVMED performed its own basic research, obtained patents on promising technologies, and then either sold or licensed the technologies to other firms which marketed the products. The firm has since then grown and is now contracted to perform research and testing for larger genetic engineering firms, biotechnology firms, the US government, and is now widely recognized as the leader in an emerging growth industry. SIVMED's founders were relatively wealthy individuals when they started company, and they committed a great deal of their own funds to the venture. Their personal funds, however, were soon exhausted by the
After reviewing the Wilson Brothers Case Scenario, as Director of Human Resources for the organization, what conclusions can you draw with respect to the status of the company’s compensation strategies that are currently in place? What would you do to begin to address this situation? (3 Marks)
The biotech firm Amgen Inc. gives much attention and time to the planning process. Because the outcomes for a company like Amgen are often very unsure and many employees are quite sceptical about the use of such a planning, the main issue can be described as follows:
The case of Larry Brilliant describes Dr. Brilliant’s life events that led him to be at the center of almost every defining moment of his generation. His largest battle though was taming his ambition. Everyday Dr. Brilliant was seeking to understand the meaning of ‘Live your life without ambition. But live as those who are ambitious.’
MediSys Crop. is a privately held US-based medical device manufacture who started a new project, named IntensCare, in 2006. IntensCare aimed to collect data on patients in intensive care units and post it to a database to share. The launch time was scheduled in August 2009. Six months away from the launch date, the project team still faced many issues that seemed they would not launch the project on time. In August 2008, the new present, Art Beaumont, formalized a core team, which was organized by a new parallel system for the IntensCare project. It included six people from six different departments: Karen Baio-Regulatory Affairs; Jack Fogel-Senior Production Manager; Aaron Gerson-R&D; Valerie Merz-Marketing Manager; Dipesh Mukerjee-Software Design; and Bret O’Brien-Product Engineering. Fogel also assigned as a project leader.
The CEO and Co-founder of Seattle Genetics, Dr. Clay Siegall, recently sat down for an interview with Inspirey. Seattle Genetics is a biotech firm whose specialty is developing drugs to help combat fatal diseases like cancer where there has not been significant drug improvement for decades. Dr. Siegall who holds a Ph.D. in Genetics from George Washington University and a B.S. Degree in Zoology from the University of Maryland stated in his interview with Inspirey that he has always had an interested in medicine and the use of technology. This interest led him to fulfill a desire of becoming his own boss, by taking control of his own patents, products, and developments.
as one of the ten most outstanding engineering achievements in the world over the past 50 years,
MediSys is a U.S.-based medical device manufacturer. It has been developing IntensCare project, a new medical system for monitoring patients in intensive care units. This project represents the most ambitious move in the company’s 10-year history. The company had invested large finances in this project and the market eagerly awaits its launch. The product development team consisting of people from several functional areas of the company, has been working on the product for six months but is now facing significant problems with the product design, clinical testing, meeting the production deadlines, and their own group dynamics. The pressure had also increased because of competitors also planning to launch similar products within the year. Several team members are concerned about meeting the team 's goals. The relationship between team members is quite tense and it doesn’t promise much progress.
The consequences of increasing credit period are more cash required to be invested in working capital and also losses due to increased bad debts.
over at least the last six years. The recent acceleration in the projected growth rate for
The power of suppliers can have a significant impact on most organizations. Mainly because they have the power to determine the cost of goods and the amount of profit an organization can earn. However, for Stryker the power of suppliers was more on the lower side. Not only did Stryker produce medical tools and devices, but they also manufactured their own materials. In other words, Stryker is their own supplier.
The issues that RoundTech have been facing recently is regarding the quality of the nuts and bolts sent to customers. RoundTech has been issuing replacement orders, refunds, or discounts on future orders as a means to retain their contracts because the quality has been poor. Ultimately, it is the production staff’s responsibility for order quality. The issue is that the piece rate systems drives output but does not account for quality therefore the production staff tries to increase production, which is good except when it causes quality issues, lack of attention to detail which is a problem when it causes customers to not get what they ordered, particularly because they don’t take the time to verify the order or to adjust the machines to ensure
A. Legal and financial constraints. The Fair Labor Standards Act (FLSA) will reflect the usage of reported leave between exempt and non-exempt employees. The leave benefits system will emulate the needs of individuals while meeting their social needs for leaving to take care of their well-being. The commonality will reflect togetherness rather than being treated differently within the company. By utilizing this equality factor will then foster trust between employer and employee. The fairness will merit the well-roundedness of the human resource practices of the company. Transparency is a key success for the company to create synergy among the workforce while creating a positive environment.
MediSys planned a launch of IntensCare which is a new remote monitoring system for the use in hospitals’ intense care units. This is a major launch for the company because it is a $20.5 million investment which is the largest investment for the company. MediSys Corporation is facing many external problems along with experiencing problems internally trying to finish the product by the set deadline. The company is having many issues. The issues consist of dealing with the software development, failure to communicate effectively, and lack of motivating factors.