THE FUTURE: BUT NOT JUST OF BIOPASTEUR

One of the very first cases that introduced the core of Analysis of Business Problems to me was, “The Future of Biopasteur”. It was about a company that was into the creation of a certain kinds of drugs using biotechnologies. Biopasteur had about 7 more years until its patent expired and one drug, which was meant for the treatment of diabetes did not seem quite market ready, in spite of the fact that FDA approval that had been received. This case increased my awareness of the varying dynamics that come into play in making a business decision for top executives. BioPasteur was founded by close professional colleagues but because of an otherwise “simple” ‘go/no-go’ decision, the company was at a cross roads which could potentially separate the company as its co-founders were split on the decision. Considerable costs would be incurred if they did not go to market including manufacturing costs which had been pegged at $10,000,000 over the course of the next two years. There was also the probability that technology required for meaningful improvement may not be available until about 4 years later and the likelihood of abandonment of the project down the line, despite heavy investments that would have gone into R&D. If BioPasteur goes to market, market acceptance is expected to spread across New England and the East Coast where BioPasteur already has a reputation but there was also a potential of increased market share dependent on the success of the new drug.

We had to analyse the above scenario and make recommend a decision on the way forward. Of course, this decision had to be supported by data. You see, that is the thing about ‘Analysis of Business Problems’. You cannot just decide one way or another. You have see beyond the obvious, listen to the data and be guided by facts that may not necessarily be glaring you in the face. The answer to the problem was for one to question whatever answer you arrive at and make sure that it can scale through when put under the lens of almighty ‘Data’.

And that is a theme that I have found to be repetitive across the various cases we are made to analyse. Almost always, the decision impacts on the future of the business, whether long term, medium term or even short term. But then again, that’s just the way it is. When businesses are faced with any decision whatsoever, it impacts their future.

What is the ‘future‘?

Loosely, the future is the next moment after the present one. It is the period of time following an exact moment of speaking, writing or doing.

Analysis of business problems, as a course, deals with the future. And not just that of Biopasteur. It is about equipping me, equipping all LBS Students with the skiils needed to reach data driven decisions that will impact the businesses we either already manage or will find ourselves managing in a time to come.

And it is for this reason that I am curious to see what becomes of my critical thinking capabilities at the very end of the programme.

#MMBA5