Commercialization plan for Medical devices Essay

Commercialization excogitate for Medical devices - Essay ExampleThe airfield forget highlight the entire commercialization plan actual for the Health Kart Diabetic Monitoring device which includes the patenting, drafting and the quality control process. Table of Contents applied science 6 Product Description HealthKart Diabetz 6 Key Success Factors 6 Patents 7 Process of acquiring Patents for Diabetic Monitoring Device 9 The Firm Health Kart Diabetes 10 The Business Opportunity 11 Value Proposition 11 External Players 12 Market 13 Market Dynamics 13 External Forces 13 Environmental Impact 13 Marketing Strategies 14 Strategic Positioning of HealthKare Diabetes 17 Quality Control Monitoring Process 21 Action Plan 23 Implementation of Milestones 24 Marketing Tasks 24 Timings 24 Mass Targeting Strategy for HealthKare Diabetes 24 Commercial Risk Assessment 25 Financials 26 Conclusion 27 References 28 Background Commercialization of Diabetic Monitoring Devices The commercialization b odily function is regarded as an important business activity, which leads to the increase of a new market plan for the introduction of a new product into the market (Ahmed & Rafiq, 2002). This activity involves the formulation of new marketing strategies and also the development of impressive marketing devices, which would help in checking the feasibility of the marketing plan. Commercialization would also help in monitor whether the marketing activities adhere with the executed plan (CIM, n.d.). However, commercialization would also include various marketing strategies necessitate for the launch of new product and production process, which would also require financial and non-financial assistance from the management perspective. The submit entrust deal with commercialization of diabetic supervise devices, which forms an integral part among the medical exam equipment. Diabetic monitoring devices not only help in checking the glucose levels of an unmarried, but also prevent f rom increasing the glucose levels in medical patients. The main objective of the monitoring devices would be to check the glucose content and the concentration of glucose levels in an individual. The study will deal with the commercialization plan of diabetic monitoring device, which has been the aid for several medial patients. The author of the study has formulated a marketing plan, which consists of varied marketing strategies for introducing new product into the market and also for the development of a commercialization process for this particular product. Technology Product Description HealthKart Diabetz The product would be named HealthKart Diabetz and will be initially marketed in the US and UK to cater to the needs of the mass population suffering from diabetes and new(prenominal) glucose content related diseases. The main objective of the marketer would be to develop a product whose functionality would be simple and would produce accurate results. The medical device would help in providing quantitative test and would smooth the glucose content in the blood levels of the individual. The product will help in monitoring the glucose level of an individual and the results can be shown to the doctor for daily adjustment in the treatment, checking high and low level breadstuff content, understand whether the patient requires change in the existing diet and exercise plan. The product will be environment

Differing perceptions of new venture failure Essay

Differing perceptions of untested venture failure - Essay Example dividing line that the innovation of the venture capitalist brings in new dimensions in the survival of new ventures since within the first 7 years of establishment only 18 portion of the new ventures fail as compared to 75 percent of non VC funded new ventures.The authors note that research on the factors that cause failures of new ventures is limited callable to factors such as difficulty in conducting monetary analysis on failed ventures and the reluctance of entrepreneurs to wrangle their venture failures. The authors also discuss the factors leading to new venture failures in the perspective of the venture capitalists and the entrepreneurs. Venture capitalists cite factors such as poor management and unfavourable market conditions while the entrepreneurs cite factors such as product factors, financial limitations and managerial problems. All these are discussed in relation to the attribution theory.The argum ent that the ventures examined represented all the new ventures and that the factors leading to failure as ranked in order of importance by the authors is misleading due to the fact that new ventures and entrepreneurs from other locations whitethorn be faced with other factors of failure. It is therefore important to note that applying the results of the study should be done with that fact in mind. The factors may depend on the location and may also be time determined as well as depend on the soulfulness characteristics. An alternative conclusion could therefore be that the success of the new venture will depend on the internal characteristics of the venture.Zacharkis, Andrew Meyer, Dale G. and DeCastro, J. Differing perceptions of new venture failure A matched exploratory study of venture capitalists and entrepreneurs. Journal of littler Business Management 7.1 (1999)

Decisison Making Assignment Example | Topics and Well Written Essays - 500 words

Decisison Making - Assignment modellingIn tactical operations, MIS helps in organizing information that pertains to resource levels and production capacities of an organization (Bagad, V.S.2009, 39). This may help in instilling efficiency in a supply chain. In operational strategies, the MIS may help in gathering data for items such as attendance, schedules, and types of equipment. This may help in organizing employee trainings (Sousa, K., & Oz, E. 2014, 89).The network can get married terzetto paths. To begin with, the A activity may occur first, followed by the B activity, and finally the F activity. Alternatively, the activities may occur in the A, B, D, and G sequence. Lastly, the activities may occur in the B, E, and G sequence. All these three paths qualify as critical paths. Following the three paths saves on time that would be spent on following the seven activities sequentially.ARR (Average Rate of Return) and NPV (Net Present Value) be measures of appraisal that accords the value of a project originally it commences. These measures deal with projections rather than real-time recording of data.ARR is a measure of profitability that relates income to investments. In this sense, both income and investments are measured in accounting terms (Harris, E. 2012, 78). ARR occurs by dividing average income, after depreciation, by the initial investment.NPV is a time-adjusted appraisal measure that discounts the present value of next cash flows (Rogers, M., & Duffy, A. 2012, 102). NPV equals the sum of the present value of future returns associated with a

Stafing and Selecton Essay Example | Topics and Well Written Essays - 1000 words

Stafing and Selecton - Essay ExampleThe call of the new job openings at Thomson Rail is Contract Manager. These individuals would be responsible for retaining existing customers and gaining new customers for the caller-ups services. While the present responsibility for this lies with the director and senior managers, the expanding business as well as the need to grow has created a requirement for new individuals to be hired who are good at sales, customer relations and know the industry as well. Such people may be to a great extent to find but the comp any may have to settle for the best available candidates amongst those who apply.The two telephone exchange legal issues for the company for recruitment and the hiring treat can be understood as anti-discrimination laws and equal opportunity rules. Simply put, all candidates must be viewed and hired based on their strengths and weaknesses as applicants without giving any weight to their race, gender, age, physical abilities excep t in situations where such requirements are an intrinsic part of the job. Given that the genius of the job is office related in that respect are very few exceptions to the law which can be obtained by the company and it should be assumed by the recruiters that the law applies in the fullest sense.At the same time, there are additional legal and ethical requirements which must be followed in the selection, interview and recruitment process which mainly deal with ensuring confidentiality and the privacy of the candidates. While making the application for the job, candidates may give out tuition which is considered to be private information in the eyes of the law and that must be kept steady-going by the company. Even things like the candidates email address and telephone number may be inevitable by ethical rules to be kept secure. It is probably a good idea for the company to treat with a legal consultant or obtain legal advice from individuals in the company who have had pass with recruitment procedures in the past.The London Underground market is a

Business and employment law Essay Example | Topics and Well Written Essays - 1500 words

Business and employment police - Essay ExamplePoppy simply seeks to buy the scene on display even though baronet refuses on the grounds that the product is solely for purposes of display. The fact that Bart is a retailer means that either freedoms to or not to sell any of the products to anyone is not in violation of a sales begin. In this case, Poppy cites offense when Bart does not seek to sell the image1. To Poppy, the grounds for suing Bart include the fact that the painting on display is tallied as an offer. In the event of discriminatory sales, Poppy would use this as appoint to downfall Bart and hence prove Barts liability. This is completely different form offering goods of ridiculous quality and faulty. For Poppy, the narrow down consideration is lacking. Bart had not attached a price to the painting. The fact that the painting is on the shops wall does not in any way amount to an bargain for the trader to sell it leave alone accept her offer 2. The reason given for the traders decline does not include anything of discrimination and consumer rights violation. Evidently, the necessary components for there to be a valid contract are absent which greatly discredits the grounds for suing Bart. Lovely spunk Ltds Liability to Bart chthonian the Law of Contract and Tort In the case alongside, Lovely luminousness Ltd is not indemnified from any restitution and injuries resulting from the products they sell. With this, all aspects of a contract are fulfilled and are met. For this reason, a contractual liability would further boot out due to a jailbreak of contract. Tort liability is that which arises from a civil wrong3. In this case, the starting time step is to establish if there is a contract between parties. For this reason, one of the issues arising includes the likely disputes that may arise between Bart and Lovely Lighting Ltd. A salesperson approached Bart and presented him with an offer to procure a sign bearing the name of Barts busi ness. Bart accepted the offer through agreeing to purchase the product, and signed a contract with the company with all the terms and conditions binding4. For an agreement to be considered a contract there must be evidence of an offer (Lovely Lightings sign), acceptance (Barts jot on the sales contract), contractual intent (Barts motive to by the sign), statutoryity of subject weigh (the transaction is between legal bounds), and consideration (signs price)5. Bart was given an offer to purchase a sign bearing the name of his business, he accepted. There is the individually knowing shop window firing off at the specified price which is the consideration. Lovely Lighting Ltd is a company doing legal business, and offered a legal business exchange. Both parties have the capacities to form contracts, and both parties showed intent to enter into the contract6. The case presented shows that Lovely Lighting Ltd does breach the contract and provided Bart with a product with a wrong name . This is a material breach since Lovely Lighting Ltd failed to use the right name of Barts business as hold upon when signing the contract. Bart agreed to purchase a sign with the name Artybarti, which is his business name. The sign was designed with the name Artyfarti which was not as per the contractual agreement. At this point, the obligation of the handling ot the sign rests with Lovely Lighting Ltd 7. Tort liability also comes into play a great deal. Lovely Lighting limited should be liable for selling defective products

Promotion & Information Systems Research Paper Example | Topics and Well Written Essays - 750 words

Promotion & Information Systems - seek Paper ExampleCompanies are increasingly going online for their marketing efforts. Kellogg Company is an example of a follow who saw their gross sales increase 17% for the first 9 months of 2008 by moving to use of much(prenominal) online promotions (Laric & Lynagh, 2009). Kellogg stated that online marketing gives better opportunities for targeting, engagement, and dialogue (Laric & Lynagh, 2009).The trend that Kellogg refers to does not seem to be passing anytime soon. Hassens (2002) mentions that the bone up of randomness technology has made the business environment ever more customer oriented. In addition, the conspiracy of global markets with the wide variety of choices consumers now have will mean businesses need to be more customer focused than ever before (Hanseens, 2002). The author goes on to mention that the customer should be considered a strategic asset of the company. Information technology should play a large role for most organizations by tracking and analyzing the behavior and habits of buyers in order to make strategic plans (Haseens, 2002).A closely related view is that of data mining. Data mining is defined as methods used by companies to sort and analyze information to better understand their customers, products, markets, or any other phase of their businesses for which data has been captured (Jessup & Valacich, 2008).One companys marketing switch involving data mining occurred when Merck made a $6 billion acquisition of the pharmaceutics mail order firm Medco. Since Medco was only generating around $80 million in r yetue at the time of the purchase, there were other untapped factors involved. It turned out that there was a vast riches of relevant information regarding both doctors and patients that could be utilized. The marketing and sales areas were able to custom tailor sales presentations based on a doctors past record of writing prescriptions and can even show where upcoming trends are l ocated and then be

Operations Management (OM) Essay Example | Topics and Well Written Essays - 750 words

Operations Management (OM) - shew ExampleService System. Unlike product administrations or manufacturing systems, service systems are unique in that they take to the woods to be based more upon face-to-face customer interaction. In the bank, however, an effective service system go away take advantage of the inherent nature of the business of banking. Banks do not manufacture money, but they do interact with individuals and companies to assist them with their financial needs. Accordingly, the branch double-decker can implement a service system that accommodates customer needs. Even though a banking-based service system will be somewhat intangible, the benefits of a tumesce-designed one will be notable. For manikin, the branch manager may know that Friday afternoons are high plenty time periods for the bank, as the local factory pays its employees on Fridays. Since no person want to stand most waiting on tellers to cash or deposit their checks, the branch manager could study t he customer tawdriness data for a month and then implement a service system that focused upon schedule tellers and account managers around the times of highest volume. This OM technique would provide both efficiency in staffing as well as a happier client base.Job Design. Job Design. Job design is a relatively honest way of increasing operational efficiency in all organizations, but particularly in the banking industry. kindred any other business, a bank has to maintain a productive workforce, and economic efficiencies are very(prenominal) important. Accordingly, our branch manager could spend a little research time on every separate task within the bank. Looking for areas of overlap or opportunities for cross-training, the manager could design the job descriptions to maximize productivity without sacrificing customer service. For example, the job design of the teller would involve the standard activities of a bank teller bear on deposits, cashing checks, overseeing counter activities, etc. Similarly, the job design of an account manager is very easy to determine be available to open new accounts for existing and new customers, perform customer service duties by telephone, addict new accounts through various means, etc. If our branch manager were to implement an effective job design, she exponent be able to construct a head teller or other hybrid purview that could assist with teller operations during high volume times, and solicit accounts during times of low counter activity. This is an example of effective job design, and such an OM tool is very effective in this application.Quality Management. As we know, youthful quality management is not so much about correcting mistakes after they occur, but preventing them from occurring at all. In a bank, customer service quality and the absence of numerical or clerical error is paramount to both the operations and reputation of the institution. The branch manager should place a high emphasis on attention to detail and quality job performance in both the technical (teller) and customer traffic (account manager) departments. By utilizing such methods as regular staff meetings, on-going skill training, and written policy manuals, the branch manager can utilize the OM methodology of quality management