Business Concepts for Life Sciences : Assessment Questions

Module Track ID Question
Module 0: (Introduction)
Module 1: Introduction to Strategy
Analyze a Company Q3 Choose a company from the suggested list below or select a company of interest. Identify the company's strategy from their website (refer to the video in the last unit, if you haven't already). How would you describe the company's value proposition? a. Why is the work important? a. What is unique about the technology or work product? a. Who has a stake in the outcomes of the work and what do they value? Global Blood Therapeutics Intersect ENT Juno Therapeutics Five Prime Therapeutics Celgene Merck
Analyze a Company Q4 Describe a company's organizational context. a. Where in the development cycle is the enterprise? b. What is the structure of the enterprise (including funding)? c. What resources are available to achieve objectives? Continue with the company you selected in Lesson 1, or select a new company. For your convenience, here is the list: Global Blood Therapeutics Intersect ENT Juno Therapeutics Five Prime Therapeutics Celgene Merck
Analyze a Company Q5 What is the company’s 1 - 3 year strategy?
Analyze a Company Q6 How would you describe the value proposition for your research project? a. Why is the work important? b. What is unique about the technology or expertise? Compare this to (1) other academic labs and (2) research labs in the biopharma sector. c. Who has a stake in the outcomes of the work, and what do they value?
My Strategic Plan Q7 What can you say about the organizational context of your lab or your PI’s lab? a. Where in the development cycle are the different projects you are working on in the lab (from experimental design to publication)? b. What is the structure of the lab (including funding)? c. What resources are available to achieve objectives?
My Strategic Plan Q8 What is the lab’s 1 - 3 year strategy or the 1-3 year strategy for your research?
Module 2: Business Development
Analyze a Company Q9 Research a company and write down some of the company’s gaps. Continue with the company you selected in Module 1, in which you analyzed the strategy and organizational context, or select a new company. For your convenience, here is the list: Global Blood Therapeutics Intersect ENT Juno Therapeutics Five Prime Therapeutics Celgene Merck
Analyze a Company Q10 Pick one of the gaps to fill. What could another company bring to the table? (How would they fill the gap?)
Analyze a Company Q11 What incentives does the other company have to partner?
Analyze a Company Q12 How would you build a deal to fill a gap? (Which vehicle?) Continue with the company you selected in the last Lesson (4), in which you identified gaps, or select a new company. For your convenience, here is the list: Global Blood Therapeutics Intersect ENT Juno Therapeutics Five Prime Therapeutics Celgene Merck
Analyze a Company Q13 How could you make it friendlier for partnering? (Executing the deal)
Analyze a Company Q14 Who do you go to for the deal? (Executing the deal)
Analyze a Company Q15 How would you measure success?
My Strategic Plan Q16 Determine if you or your PI’s lab is ready to develop a new area of expertise, improve a technology, or develop a patent. Write down some gaps in the research.
My Strategic Plan Q17 Pick one of the gaps to fill. What could another group bring to the table? (How would they fill the gap?)
My Strategic Plan Q18 What incentives does that group have?
My Strategic Plan Q19 How would you build a deal with a collaborator? (Which vehicle?)
My Strategic Plan Q20 How could you make it friendlier for partnering? (Executing the deal)
My Strategic Plan Q21 Who do you go to for the deal? (Executing the deal)
My Strategic Plan Q22 How would you measure success?
Module 3: Strategic Collaborations
Analyze a Company Q23 How would you describe your company's value proposition? (This is key to determining a potential partner.)
Analyze a Company Q24 What is your company’s population of interest?
Analyze a Company Q25 Building on Lesson 4, where you selected gaps to fill, now identify 1-2 potential strategic collaborations for your company. Remember they can be labs, organizations, or other companies. Write down the potential collaborators.
Analyze a Company Q26 What are the potential goals of each partner? a. What might your company aim to achieve (e.g., drug development, access to chemical libraries, publications, etc.)? b. What are goals for your potential partner company?
Analyze a Company Q27 What are each partner's resources, capabilities and constraints?
Analyze a Company Q28 (advanced topic) How would your side handle confidentiality?
My Strategic Plan Q29 How would you describe your lab’s value proposition? (This is key to determining a potential partner.)
My Strategic Plan Q30 What is the population of interest for your lab?
My Strategic Plan Q31 Building on Lesson 4, where you picked gaps to fill, now identify 1-2 potential strategic collaborations for your lab. Remember they can be other labs, organizations, or companies. Write down the potential collaborators.
My Strategic Plan Q32 Q32. What are the potential goals of each partner? a. What might your lab aim to achieve? b. What are goals and gaps for your potential partner organization?
My Strategic Plan Q33 What are each partner's resources, capabilities, and constraints?
My Strategic Plan Q34 Apply the RACI framework to one of your research projects. The RACI framework helps you indicate who is Responsible, Accountable, Confided, and Informed in your projects. This is best applied for multi-person projects, but can also be applied for solo projects.
My Strategic Plan Q35 Dr. Tashker mentioned 4 key commonalities of good influencing behavior. Name 2 of the 4Apply the RACI framework to one of your research projects. The RACI framework helps you indicate who is Responsible, Accountable, Confided, and Informed in your projects. This is best applied for multi-person projects, but can also be applied for solo projects.
Module 4: Strategy Toolkits
Analyze a Company Q36 Select a tool to analyze your company of interest (SWOT / PEST / Four Corners), and explain the reasons you chose that tool to assess the company. Continue with the company you've been analyzing, or select a new company. For your convenience, here is the list: Global Blood Therapeutics Intersect ENT Juno Therapeutics Five Prime Therapeutics Celgene Merck
Analyze a Company Q37 What are the benefits of doing that specific analysis?
Analyze a Company Q38 What is the external landscape for that specific company?
Analyze a Company Q39 Based on the analysis, what is a possible next move for the company?
My Strategic Plan Q40 Select a tool to analyze your lab or your PI’s lab - SWOT / PEST / Four Corners. Explain the reasons you chose that tool to assess your lab or your research project.
My Strategic Plan Q41 What are the benefits of doing that specific analysis?
My Strategic Plan Q42 What is the external landscape for you/the lab?
My Strategic Plan Q43 Based on the analysis, what is a possible next move for the lab or for you?
Module 5: Finance
Analyze a Company Q44 What statement do you use to find information on revenue and costs? Operating loss? Note: this information may be important if you are considering employment at a company.
Analyze a Company Q45 Write down the formula for calculating the burn rate. Now, calculate the number of months of cash for the company you are analyzing.
Analyze a Company Q46 What is the company's cash flow?
Analyze a Company Q47 What is their gross margin?
Analyze a Company Q48 Dr. Christine Siu talked about how companies financially evaluate projects. Name 3 of the metrics by which projects are assessed financially.
My Strategic Plan Q49 What would you include in the forecast of your budget? Or what do you think your PI includes?
My Strategic Plan Q50 Calculate a rough burn rate for your project or for your lab.
My Strategic Plan Q51 What opportunities costs have you considered in setting up or managing your research projects? If you’re leading a lab or group, what opportunity costs have you considered in establishing or managing your lab?
My Strategic Plan Q52 Explain ways in which your overall strategy can impact your financial planning.