DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

Science Lessons by Gordon Binder and Philip Bashe

This article was inspired by Gordon Binder's and Philip Bashe's Science Lessons . If you enjoy this article then consider purchasing or borrowing the book.

img2.imagesbn.com_p_9781591398615_p0_v1_s260x420.jpg

Management Lessons from the Biotech Industry

“In many businesses, the solution to the problem of high overhead is simple: cut overhead. Speed up production. But drug manufacturers don’t set their own standards; the government does.”

Biotechnology is a field in which technology is applied to biology for the sake of creating something new. Formed in 1980, the biotech company known as Amgen took nine years to produce its first successful drug. While Amgen had ran up the debt over their near decade period of research, it made all its money back, and then some, with the drug Epogen.

Amgen’s success serves as an example for other industries, and managers in particular can learn from the leaders at this biotech company. Its management established values in the very beginning, which motivated employees to give their best effort and focus on “good science.” William K. Bowes Jr., the man who incorporated Amgen, found the perfect CEO for the company – George Rathmann. Bowes realized the importance of both one’s scientific understanding and business sense in the biotech industry, as Rathmann had both a Ph.D. in chemistry and useful experience in the corporate world. Not only did the company find the best managers, it also found the best workers, finding scientists with experience in research universities.

With three-phases, the FDA’s clinical trials take a great deal of time to complete, with the first phase lasting six months to a year, the second phase lasting one to two years and the final phase lasting two to three years. Bringing a drug into the market costs a great deal of money, with the expense averaging $802 million by 2003.

As a biotech company, Amgen focuses its attention on the science which creates its product. Like good scientists, Amgen’s management sees failures as merely failed experiments, and they take what they learn from mistakes and maximize their successes in the future.

The scientific method even benefitted Amgen’s sales practices. Scientist David Fenton suggested that the company would sell more products to doctors if the salespeople were specialized, with each individual responsible for selling one type of drug. While Amgen was initially skeptical of Fenton’s idea, an experiment was established to test his theory. Some salespeople were specialized and others tried to sell multiple products. Fenton’s theory proved itself correct, and the company adopted his plan.

Using the scientific method, you can improve your company, as well. Establish a hypothesis you wish to test. Create a “control group,” which won’t be affected by a change, and a “study group,” who you actually experiment on. Ensure that you have a way to measure your results before you begin.

While the process of genetic engineering is difficult, and the ability to predict a breakthrough is hampered by the uncertainty of the field, Rathmann established a 60-day deadline for a breakthrough with erythropoietin. While predictions were essentially impossible, actually making one motivated researchers to make the breakthrough. In an uncertain industry, Amgen’s influence on a happy, enthusiastic workforce has paid off.


QR Code
QR Code management_lessons_from_the_biotech_industry (generated for current page)
 

Advertise with Anonymous Ads