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Applying Business Strategies to Establish Your Research Program.
Thi A Nguyen1, Andrew D Nguyen2
1Associate Dean for Graduate and Career Professional Development, Graduate School, Washington University in St. Louis.
Current Protocols Essential Laboratory Techniques
|October 19, 2020
Summary
Scientists can leverage business strategy and development principles to grow their research programs. This guide covers value propositions, stakeholder identification, and strategic planning for research success.
Area of Science:
- Life sciences
- Biotechnology
- Pharmaceutical research
Background:
- Academic research programs require strategic planning for growth and sustainability.
- Scientists often lack formal training in business development and strategic management.
- Bridging the gap between scientific discovery and program expansion is crucial.
Purpose of the Study:
- To provide scientists with foundational business strategy and development concepts.
- To offer practical applications for starting and expanding research programs.
- To enhance the strategic management skills of scientific researchers.
Main Methods:
- Overview of key business strategy principles.
- Discussion of business development frameworks.
- Application of concepts to scientific research contexts.
Main Results:
- Scientists can define a clear value proposition for their research.
- Identification of key stakeholders and their roles is facilitated.
- Strategies for identifying research gaps and forming collaborations are presented.
- Guidance on responsible hiring, strategic planning, and time management is provided.
Conclusions:
- Implementing business strategy enhances research program viability.
- Strategic planning and development are essential for scientific innovation and growth.
- Scientists can effectively manage and expand their research endeavors using these principles.