This module equips students with the strategic tools and frameworks necessary to lead and grow biomedical enterprises. It explores cost management, leadership in product development, regulatory compliance, and market strategy within the biomedical sector. Students will develop financial models, funding strategies, and business plans tailored to innovative health technologies. Through applied case studies and group work, learners will build decision-making skills essential for entrepreneurship and commercial success.
Costing and Budget Control in Biomedical Enterprises: Students will explore key budgeting techniques, with a focus on cost control through variance analysis. The module compares traditional costing methods with activity-based costing (ABC), highlighting how these influence strategic pricing and product development decisions in biomedical contexts.
Leadership, Communication, and Product Development: This section introduces essential management and leadership principles, with an emphasis on cross-functional team collaboration in biomedical product development. Students will examine communication strategies that drive innovation and align technical teams with business objectives.
Regulatory Strategy and Risk Management: Learners will study the regulatory frameworks that govern biomedical products, including medical device and pharma sectors. Risk management approaches will be explored to ensure compliance across product lifecycle stages, with a focus on proactive identification and mitigation of regulatory and operational risks.
Business Models and Market Strategy: This section focuses on evaluating and selecting appropriate business models for biomedical ventures. Students will analyse market dynamics, customer segments, and competitive positioning to inform strategic decisions and commercialisation planning.
Financial Modelling and Funding Strategies: Students will design financial models to assess revenue, cost, and investment scenarios for biomedical products. They will explore funding strategies including venture capital, grants, public/private partnerships, and non-dilutive funding options, tailored to the biomedical innovation landscape.
Strategic Decision-Making and Entrepreneurship: This final section explores decision-making tools and frameworks to support entrepreneurial success. Students will assess case studies and simulate strategic scenarios, integrating finance, regulatory, and market knowledge to make informed business decisions in high-risk, high-impact environments.
