Master of Biomedical Discovery & Commercialization
Students will work in small teams leveraging their training and developing career interests to create business plans, market assessments, and/or an entrepreneurial pitch for a new venture in biomedicine or biological products, which may include any aspect of company and product development. Each team will be paired with an entrepreneur/company and will gain first-hand experience in entrepreneurship by helping to advance innovative products/services out of the lab and into the market. BIOMEDDC 701 (Biomedical Consulting Team Project) will run concurrently with BUSINESS B733 (Biomedical Entrepreneurship), which will allow students to apply the theory they learn in the classroom to the real world.
This course examines issues associated with mounting entrepreneurial ventures from a Bio-Technology base and addresses such concerns as intellectual property, marketing, strategic human resources, raising capital, and starting and growing a business in that context. The course is designed primarily for McMaster students in the Bio-Med (BDC) commercialization program. The course provides an opportunity for science students to develop networks for accessing entrepreneurial ventures in their field of study.
Business B712 (Managerial Negotiations)
The purpose of this course is to help you understand the theory and process of effective negotiations. The course will complement the technical and diagnostic skills learned in other courses in the MBA program. While a manager needs strong analytical skills to develop optimal solutions to problems, good negotiation skills are needed in order for these solutions to be accepted and implemented. Great analysis is of little value if you are unable to win support for the actions it recommends. To provide you with the opportunity to develop both analytical frameworks and practical skills in negotiation, the course will rely primarily on hands-on learning.
Business B716 (Strategic Organizational Change)
This course will enable students to cultivate the multiple capabilities required for ongoing, longrun strategic change. Leading change perspectives will be integrated and extended by utilizing a strategic organizational change framework. This systematic and multidimensional approach will provide students with a roadmap for developing change capabilities in themselves, as well as their current and future organizations. Illustrations and applications of organizational change principles will be demonstrated through a transformative learning experience, skill development exercises, experiential exercises, cases analyses, and an actual strategic organizational change project, all embedded within the body of the course. Weekly speakers from the community will be incorporated to provide actual practitioner change examples.
Business B730 (Strategic Management of Technology)
In today’s competitive environment, technology has become a central component of the strategic process of many innovative organizations. This course surveys the issues involved in this new role for technology including competitive advantage, analytical tools, technology-based strategies, partnerships and alliances, and the process for managing technology so that it is closely integrated with the activities of the firm.
Business C711 (Health Economics and Evaluation for Managers)
This course will examine the application of economic principles to policy-relevant questions in the area of health and healthcare services. Topics will include applied health economics, economic correlations to health, demand and supply of healthcare and insurance, healthcare system financing, alternative payment schemes, economic regulation of the pharmaceutical industry, cost-effectiveness and cost-benefit analyses, QALY’s, and means by which to improve value-for-money in the health sector. Analytic techniques and illustrative examples will focus on meeting the needs of managers within the Canadian healthcare system.
Business C727 (Pharma/Biotech Business Issues)
This course will allow students to familiarize themselves with the strategic and management issues currently facing the Pharmaceutical and Biotechnology industries through a consideration of the structure and challenges of the industry at the global, national and provincial levels.
Business K723 (Data Mining and Business Intelligence)
Data mining is the discovery of hidden information from historical data. With data mining, it is possible to better manage product warranties, predict purchases of retail stock, unearth fraud, determine credit risk, and define new products and services. This course introduces basic data mining technologies and their use for business intelligence. Students will learn how to analyze the business needs for knowledge discovery in order to create competitive advantages and to apply data mining technologies appropriately in order to realize their real business value. This course is suitable for MBA students with interests in IS, finance, marketing, operational management, and healthcare management.
Business K731 (Project Management)
This course introduces students to the fundamental concepts of project management and discusses how projects can contribute to organizational objectives. The delivery of the course encompasses a wide range of methods including in class activities, case studies, group work, presentations, lectures, readings and Microsoft Project lab work. The course explores the stages of managing a project, including project initiation, planning, implementation and control, and closing as well as organizational concepts of capability, project selection and prioritization. This course aims to provide students with competencies in ten key project management areas: scope, time, cost, quality, resources, risk, procurement, communication, integration, and stakeholder management, exploring both the social and technical aspects.
The internship will provide students with the opportunity to explore career options and integrate academic learning through an experiential placement in the community sectors related to the pharmaceutical/biotechnology industry. Students will participate in a mandatory Career Plan and Employability Preparation Milestone that will aid them in the job search, application, and interview process. Upon securing a position they will gain invaluable industry experience through the role. Academic requirements will include completion of a career plan and reflective assignments where students will document the fulfillment of individual learning objectives. Students will also share aspects of their experiences in a student symposium and an end-of-term executive summary.
Students will prepare a scholarly paper on a selected topic of interest that demonstrates the integration of learning across science and business disciplines. The scholarly paper should reflect an understanding of current biomedical discovery and commercialization challenges and the tools and techniques needed to evaluate, plan, and implement solutions.