ACS Business Administration

Biotechnology

Biotechnology is the use of living systems and organisms to develop or make useful products, or any technological application that uses biological systems, living organisms or derivatives thereof, to make or modify products or processes for specific use. For thousands of years, humankind has used biotechnology in agriculture, food production, and medicine. Biotechnology has applications in four major industrial areas, including health care (medical), crop production and agriculture, non food (industrial) uses of crops and other products (e.g. biodegradable plastics, vegetable oil, bio-fuels), and environmental uses. The biotechnology market consists of the development, manufacturing, and marketing of products based on advanced biotechnology research. The global biotechnology market has total revenues of $304.0bn, representing a compound annual growth rate (CAGR) of 9.6%. The medical/healthcare segment is the market’s most lucrative, with total revenues of $182.5bn, equivalent to 60.0% of the market’s overall value. The performance of the market is forecast to decelerate, with an anticipated CAGR of 9%, which is expected to drive the market to a value of $468.2bn.

Boston, MA

A global city, Boston is placed among the top 30 most economically powerful cities in the world. The Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world. Boston’s colleges and universities have a significant effect on the regional economy, with students contributing to the city’s economy. The area’s schools are major employers and attract industries to the city and surrounding region. The city is home to a number of technology companies and is a hub for biotechnology, with the Milken Institute rating Boston as the top life sciences cluster in the country. Boston receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States. The city is also considered highly innovative for a variety of reasons that include the presence of academia, access to venture capital, and the presence of many high-tech companies. Tourism comprises a large part of Boston’s economy, with 21.2 million domestic and international visitors each year. Because of Boston’s status as a state capital and the regional home of federal agencies, law and government are another major component of the city’s economy. The city is a major seaport along the United States’ East Coast and the oldest continuously operated industrial and fishing port in the Western Hemisphere. Other important industries are financial services, especially mutual funds and insurance. Boston-based Fidelity Investments helped popularize the mutual fund and has made Boston one of the top financial cities in the United States. The city is home to the headquarters of Santander Bank, and Boston is a center for venture capital firms. State Street Corporation, which specializes in asset management and custody services, is based in the city. Boston is a printing and publishing center – Houghton Mifflin is headquartered within the city, along with Bedford-St. Martin’s Press and Beacon Press. Pearson PLC publishing units also employ several hundred people in Boston. The city is home to three major convention centers – the Hynes Convention Center in the Back Bay, and the Seaport World Trade Center and Boston Convention and Exhibition Center on the South Boston waterfront.

Consultancy

Management consulting, the practice of helping organizations to improve their performance, operates primarily through the analysis of existing organizational problems and the development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants’ specialized expertise. Consultancies may also provide organizational change-management assistance, development of coaching skills, process analysis, technology implementation, strategy development, or operational improvement services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks. Management consulting has grown quickly, with growth rates of the industry exceeding 20% during the past 30 years. As a business service, consulting remains highly cyclical and linked to overall economic conditions. Currently, there are three main types of consulting firms. Large, diversified organizations, Medium-sized management consultancies and boutique firms that have focused areas of consulting expertise in specific industries, functional areas, technologies, or regions of the world. The value of the management & marketing consultancy market is calculated as the total revenues received for the provision of corporate strategy services, operations management services, information technology solutions, human resource management services and outsourcing services. The global management & marketing consultancy market has total revenues of $305.0bn, representing a compound annual growth rate (CAGR) of 3%. The operations management segment is the market’s most lucrative, with total revenues of $93bn, equivalent to 30.5% of the market’s overall value. The performance of the market is forecast to accelerate, with an anticipated CAGR of 7% during the next 5 years, which is expected to drive the market to a value of $427.9bn.

Dr. Popa MBA MD Dip Mgt – Senior Consultant

Dr. Popa is an approved Senior Consultant at Appleton Greene and he has experience in management, globalization and marketing. He has achieved a Master in Business Administration, a Professional Diploma in Management and is a Doctor in Medicine. He has industry experience within the following sectors: Biotechnology; Healthcare; Consultancy; Government and Oil & Gas. He has had commercial experience within the following countries: United States of America; Canada and United Kingdom, or more specifically within the following cities: New York NY; Boston MA; Montreal; Toronto and London. His personal achievements include: facilitated performance management improvement process; facilitated quality improvement process; facilitated regulatory compliance improvement; facilitated corporate change and learning and facilitated clinical research operations improvement. His service skills incorporate: project management; quality assurance; regulatory compliance; corporate change and medical affairs.

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Government

The economic, financial and military pressures on global governments are especially high in today’s world. Those that perform best under pressure are armed with insight that helps identify new or missed tax revenue opportunities, reduce fraud and waste in human health services, effectively manage key military assets, and analyze and predict events related to security intelligence. From state and local issues – to national security at home and abroad, all levels of government are faced with the daunting task of collecting and analyzing data and assuring compliance, accurately and in real time.

Healthcare

The health care industry, or medical industry, is an aggregation of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. The modern health care industry is divided into many sectors and depends on interdisciplinary teams of trained professionals and paraprofessionals to meet health needs of individuals and populations. The health care industry is one of the world’s largest and fastest-growing industries. Consuming over 10 percent of gross domestic product (GDP) of most developed nations, health care can form an enormous part of a country’s economy. For purpose of finance and management, the health care industry is typically divided into several areas. As a basic framework for defining the sector, the United Nations International Standard Industrial Classification (ISIC) categorizes the health care industry as generally consisting of: hospital activities; medical and dental practice activities; “other human health activities”. This third class involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, or other allied health professions, e.g. in the field of optometry, hydrotherapy, medical massage, yoga therapy, music therapy, occupational therapy, speech therapy, chiropody, homeopathy, chiropractics, acupuncture, etc. The Global Industry Classification Standard and the Industry Classification Benchmark further distinguish the industry as two main groups: health care equipment and services; and pharmaceuticals, biotechnology and related life sciences. Health care equipment and services comprise companies and entities that provide medical equipment, medical supplies, and health care services, such as hospitals, home health care providers, and nursing homes. The second industry group comprises sectors companies that produce biotechnology, pharmaceuticals, and miscellaneous scientific services. Other approaches to defining the scope of the health care industry tend to adopt a broader definition, also including other key actions related to health, such as education and training of health professionals, regulation and management of health services delivery, provision of traditional and complementary medicines, and administration of health insurance. The global medical device industry has experienced significant growth over the last five years and is expected to continue, reaching approximately US $302 billion with a CAGR of 6.1% during the next five years. The medical device industry is comprised of surgical, cardiovascular, home healthcare, general medical and other devices. The industry is highly fragmented, and North America dominates with 46% of the global market. High competitive rivalry prevails with low to moderate barrier for entry into the industry. The aging population and growing demand for convenient and cost-effectiveness products are expected to drive the global home healthcare device industry, and the home healthcare device market is expected to reach an estimated US $29 billion with a CAGR of 3.4% over the next five years. The home healthcare device industry consists of home-based treatment such as glucose monitor, blood pressure monitor, diabetic control device, wheelchair, walking aids, oxygen inhaler, thermometer, home dialysis, test strips, heart rate meters, sleep monitor device, and such other home healthcare devices. A combination of factors such as technological innovations, aging population, rising patient pool, and changing lifestyle is seen to impact the market dynamics significantly.

London, United Kingdom

London generates approximately 20 per cent of the UK’s GDP (or $446 billion); while the economy of the London metropolitan area – the largest in Europe – generates approximately 30 per cent of the UK’s GDP (or an estimated $669 billion). London is one of the pre-eminent financial centres of the world and vies with New York City as the most important location for international finance. London’s largest industry is finance, and its financial exports make it a large contributor to the UK’s balance of payments. Around 325,000 people are employed in financial services in London. London has over 480 overseas banks, more than any other city in the world. Over 85% (3.2 million) of the employed population of greater London works in the services industries. The City of London is home to the Bank of England, London Stock Exchange, and Lloyd’s of London insurance market. Over half of the UK’s top 100 listed companies (the FTSE 100) and over 100 of Europe’s 500 largest companies have their headquarters in central London. Over 70 per cent of the FTSE 100 are within London’s metropolitan area, and 75 per cent of Fortune 500 companies have offices in London.

Montreal

Montreal has the second-largest economy among Canadian cities based on GDP and the largest in Quebec. The city is today an important centre of commerce, finance, industry, technology, culture, world affairs and is the headquarters of the Montreal Exchange. Montreal industries include aerospace, electronic goods, pharmaceuticals, printed goods, software engineering, telecommunications, textile and apparel manufacturing, tobacco, petrochemicals, and transportation. The service sector is also h2 and includes civil, mechanical and process engineering, finance, higher education, and research and development. Montreal ranks as the 4th largest centre in North America in terms of aerospace jobs. The Port of Montreal is the largest inland port in the world handling 26 million tones of cargo annually. As one of the most important ports in Canada, it remains a trans-shipment point for grain, sugar, petroleum products, machinery, and consumer goods. For this reason, Montreal is the railway hub of Canada and has always been an extremely important rail city; it is home to the headquarters of the Canadian National Railway, and was home to the headquarters of the Canadian Pacific Railway.

New York, NY

New York is a global hub of international business and commerce and is one of three “command centers” for the world economy (along with London and Tokyo). The city is a major center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media as well as traditional media, advertising, legal services, accountancy, insurance, theatre, fashion, and the arts in the United States. New York City has been ranked first among 120 cities across the globe in attracting capital, business, and tourists. Many major corporations are headquartered in New York City, including 45 Fortune 500 companies. New York is also unique among American cities for its large number of foreign corporations. One out of ten private sector jobs in the city is with a foreign company.

Pharmaceutical

The pharmaceutical industry develops, produces, and markets drugs or pharmaceuticals licensed for use as medications. Pharmaceutical companies are allowed to deal in generic or brand medications and medical devices. They are subject to a variety of laws and regulations regarding the patenting, testing and ensuring safety and efficacy and marketing of drugs. Drug companies are like other companies in that they manufacture products that must be sold for a profit in order for the company to survive and grow. They are different from some companies because the drug business is very risky. For instance, only one out of every ten thousand discovered compounds actually becomes an approved drug for sale. Much expense is incurred in the early phases of development of compounds that will not become approved drugs. In addition, it takes about 7 to 10 years and only 3 out of every 20 approved drugs bring in sufficient revenue to cover their developmental costs, and only 1 out of every 3 approved drugs generates enough money to cover the development costs of previous failures. This means that for a drug company to survive, it needs to discover a blockbuster (billion-dollar drug) every few years. Industry-wide research and investment has reached a record $65.3 billion. While the cost of research in the U.S. is about $34.2 billion, revenues rose by $200.4 billion. A study by the consulting firm Bain & Company reported that the cost for discovering, developing and launching (which factored in marketing and other business expenses) a new drug (along with the prospective drugs that fail) rose over the last five years to nearly $1.7 billion. According to Forbes, development costs are between $4 billion to $11 billion per drug. The United States accounts for more than a third of the global pharmaceutical market, with $340 billion in annual sales followed by the EU and Japan. Emerging markets such as China, Russia, South Korea and Mexico outpaced that market, growing a huge 81 percent. According to IMS the global pharmaceutical industry is estimated at US$1.1 trillion.

Toronto

Toronto is an international centre for business and finance. Generally considered the financial capital of Canada, Toronto has a high concentration of banks and brokerage firms on Bay Street, in the Financial District. The Toronto Stock Exchange is the world’s seventh-largest stock exchange by market capitalization. The five largest financial institutions of Canada, collectively known as the Big Five, have national offices in Toronto. The city is an important centre for the media, publishing, telecommunication, information technology and film production industries; it is home to Bell Media, Rogers Communications, and Torstar. Other prominent Canadian corporations in the Greater Toronto Area include Magna International, Celestica, Manulife Financial, Sun Life Financial, the Hudson’s Bay Company, and major hotel companies and operators, such as Four Seasons Hotels and Fairmont Hotels and Resorts. Although much of the region’s manufacturing activities take place outside the city limits, Toronto continues to be a wholesale and distribution point for the industrial sector. The city’s strategic position along the Quebec City – Windsor Corridor and its road and rail connections help support the nearby production of motor vehicles, iron, steel, food, machinery, chemicals and paper. The completion of the Saint Lawrence Seaway gave ships access to the Great Lakes from the Atlantic Ocean.