q1-25 (1 missing) Flashcards
Why is knowledge of Biobusiness important?
Bio businness involve companies working in the pharma-biological sector
-When being interviewed in this sector, scientific knowledge is crucial, but so is GMP (Good manufacturing practice) and regulatory affairs
-Employers will judge candidates’ ability to communicate and knowledge of entrepreneurship and industry knowledge, while looking for a person that is willing to adapt and contribute to work goals.
Give a definition of “employability”
A set of achievements, understandings, and personal attributes that
make individuals more likely to gain employment and be successful inmake individuals more likely to gain employment and be successful in
their chosen professions
List five entrepreneurial skills
MACAF
Management skills (yourself and others)
* Ability to work independently and as part of a team
* Communication skills (ability to sell ideas and persuade others)
* Ability to plan, coordinate, and organize effectively
* Financial literacy
How does the Department of Trade and Industry classify Bioscience industry Sectors?
Agriculture, feedstock, and chemicals
- Medical devices and equipment
- Research testing and medical labs
- Drugs and pharmaceuticals
Which country accounts for the largest share of European pharma R&D in terms of money?
Switzerland
Give a definition of biotechnology
A type of technology or practice that harnesses any living organism to be used for a specific purpose that benefits humans
Briefly describe the differences between “new” and “old” biotechnology
Focus: Involves processes like fermentation, selective breeding Used in food production, brewing, and agriculture (e.g., yeast in bread making, selective breeding of plants)
Give brief descriptions of ‘white’, ‘green’ and ‘blue’ biotechnology sectors
White: Focus on industrial production, e.g biofuels and plastics. Goal to create more sustainable and eco-friendly alternatives
Green: Improvement of the agriculture sector e.g biological fertilisers and disease – resistant plants. Goal is to increase crop yields and lessen impact on food sector by environmental disasters.
Blue: Uses materials/resources from the ocean for biotechnology applications, e.g pharmaceuticals from marine life and aquaculture. Goal is to develop healthcare products via environmentally sustainable methods.
List four outputs from the bioscience industry
Information process, research and development
- Drugs and therapeutic products
- Veterinary drugs
- Diagnostics
Why is the UK well placed in the European biotechnology scene?
UK biotech industry is more mature with established biotech industries and investors, allowing for greater ability to promote business oportunities
Contains a strong robust product pipeline, allowing for advancement of products in the diagnostic and pharmaceutical sectors.
What are the key technology drivers of bioscience innovation?
Gene sequencing, including
1 - Mapping of human genome to understand human physiology; Sequencing of genomes of viruses and bacteria to help fight against infection
Development of molecular techniques, including
2 - Manipulation of genes to study function for industrial or therapeutic purposes; Gene chip arrays to determine gene activity
3 - Advances in imaging techniques, including Fluorescence to observe genes in real time.
4 - The IT revolution, including Bioinformatics: data capture, analysis, modelling and sharing for very large international teams collaborating and sharing international teams
5 - Nanotechnology, including Biosensors and drug delivery methods
List Drucker’s 7 sources of opportunity
Unexpected happenings
2. Incongruous happenings
3. A need for process improvements
4. Changes in industry or market structures
5. Changes in population demographics
6. Changes in perception, mood and meaning
7. New knowledge
Define the PESTEL Framework categorising the forces that act upon all traders.
Stands for: Political forces
Economic forces
Social forces
Technological forces
Environmental forces
Legal and regulatory forces Legal and regulatory forces
List four factors that should be considered in a business plan
EPCU
Executive summary
Problem and solution
Company technology
Unique selling Market
What are the Radford occupations in bioindustry? OFCBRQ
Operations
2 - Finance and
Administration
3 - Clinical
Research
4 - Business
Development
5 – Research and development
6 - Quality
(QA, QC)
What are the six key phases of company growth?
CSSGTM
Can sam shoot guns to mali?
Conception/ existance
Survival
Profitability/stabilization
Profitability/growth
Take-off
Maturity
In the four scenarios for the future of biosciences to what does “Where’s the beef?” refer?
Patients and practitioners want and need medical solutions to treat/cure disease, but science falls short of expectations
In the four scenarios for the future of biosciences to what does “New age of medicine” refer?
Medical science achieves unprecedented breakthroughs that cure
disease, help people live longer, and ushers in a new age of
personalized medicine
In the four scenarios for the future of biosciences to what does “Bio gridlock” refer?
Genomics, stem cells and other life sciences cause much commotion but fail to achieve their early promise. Research investment dries up..
In the four scenarios for the future of biosciences to what does “Science held hostage” refer?
Medicine and healthcare strive to develop and commercializep
embryonic stem cells, cloning, gene therapy and other technologies
but the public rejects these technologies at a deep level
What are the five “more specific entrepreneurial skills”?
…
Opportunity Recognition
- Resource Management
Risk Management & Decision-Making
Negotiation & Persuasion
Adaptability & Resilience
What is meant by the term ‘Practice Based Learning and Experiential Learning’?
PBL - Practice based learning/practice education is the essential bridge from classroom to service delivery settings
EL - Memorising and reproducing facts, developing an understanding and being able to relate your new experiences to existing knowledge
PIP
What skills do students have an opportunity of acquiring during practice based professional learning?
Problem solving
Interpersonal skills
Professionalism
What is your understanding of ‘professionalism’ in the workplace?
Professionalism shows the aims, qualities and conduct of the profession of that person
Benefits of professionalism allows for: Personal growth, improving of self-confidence, building of respectm bigger opportunities, and fulfilment of personal goals
