BTEC8004 BioBusiness

This topic provides an overview of the financial, business and management principles which would enhance understanding of business enterprise for the R&D-intensive bioscience industries. Students will work in management teams to prepare a Business Plan and will cover: an overview of Australia's science and technology policy, in particular how it relates to start-up research based industries; intellectual property management; team work and leadership skills; market research; commercial viability assessments; sales and marketing; strategic, financial and managerial processes which are applicable to the Bioscience industries.

This topic aims to give students experience and knowledge related to the commercialisation of biotechnology products or processes. This involves a basic knowledge of the scientific basis of the product/process, production and manufacture, marketing, sales, financial analysis, personnel and resource management, regulatory affairs, assessment of commercial viability, quality control and assurance. Students work in management teams with assigned tasks and work together to produce the business plan, a presentation of the plan to a board of directors and a company web site. The topic is run in an intensive workshop format with formal team meetings with support from an academic tutor. Lectures and tutorials are presented by external industry-based personnel with expertise in financial management, patenting and intellectual property and marketing, who will conduct workshops with extensive use of case studies.

1. Apply and implement the key components involved in the development of a business plan to commercialise biotechnology products and processes
2. Integrate and apply knowledge of the regulation of biotechnology industries and the various mechanisms for protecting Intellectual Property
3. Apply the knowledge and skills in business planning to the development of a biotechnology product or service
4. Demonstrate an understanding of financial, personnel and resource management related to running a small to medium size business
5. Utilise effective team work skills within an effective management team with a common objective, and gain effective team work skills, with an awareness of cultural diversity and social inclusiveness
6. Demonstrate core skills in report and oral presentations as well as learning how to construct an effective web site for marketing/promotional purposes