Career Prospects and Opportunities in Biotechnology Management
Biotechnology Management Career Opportunities
Biotechnology Management is a scientific field for which both the knowledge of Management and Biotechnology are imperative. Biotechnology is a relatively new stream of management in India and across globe offers enormous career opportunities.
As per the United Nations Convention on Biological Diversity ( UNCBD ), biotechnology can be defined as any technological application that employs biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use.
Every year, Biotechnology Management is growing nearly about 20% and companies utilize the tools of sound business management to facilitate the efficient development and organization as an art in combining Biotech Research with Biotech Business elements.
Biotechnology combines disciplines like genetics, molecular biology, biochemistry, embryology and cell biology. In constant endeavour to improve the lives of humans and quality of environs the application of biotechnology to biological science is the soul of biotechnology management.
Viewed as the new hope for knowledge development, biotech industry has picked up pace in India as well as in the international arena. As this is again a knowledge intensive field, India is expected to have a competitive advantage, something on the lines of IT revolution. In order to capitalize and exploit this growing field there is a great need for trained manpower, both technological as well as managerial.
Biotechnology Management Course of Study
Candidates either pursuing or aspiring for an MBA Program find it difficult to differentiate the biotechnology – related specialized management with the usual business administration courses. However, a real barrier for successful technology firms ( especially biotechnology ) is the lack of entrepreneurial management skills.
The biotechnology management could be divided into equally important specialized areas like : marketing management of bio – pharmaceuticals, human resource management in the biotech companies, financing / venture capital funding management and intellectual property rights management in biotechnology.
Biotechnology industry needs qualified professionals both at technical and administrative level. This industry is on boom, it needs huge number of professionals and experts in the field.
The promising sectors of Biotechnology industry striving for eligible manpower in the areas are molecular biology, biomarker technology, recombinant proteins, industrial biotechnology, marine biotechnology, food biotechnology, medical bio – technology, nanobiotechnology, biotech IPR issues, biotech regulatory affairs, cGMP, and clinical research management and bio – supply segment.
The key to a career in biotechnology, regardless of educational background or expertise, is to appreciate the unique challenges faced by biotechnology companies. For many trained in biotechnology and the life sciences, it is this core competence in management that creates entrepreneurial success.
It is important to realize that technology entrepreneurship is an attitude towards management and technology that focuses on opportunities, needs fulfillment and controlling resources. The history of innovation has demonstrated that science alone or the better technology does not bring a technology to commercial success.
By understanding the factors influencing the business of biotechnology companies, it is possible to select opportunities and a rewarding career.
Biotechnology Management Career Opportunities
The manager of a biotechnology start – up faces the challenge of fostering a transition within the founding team from science – oriented to commerce – oriented thinking and action. The central role of funding and financial management in biotechnology establishes a demand for individuals with proven financial expertise.
Furthermore, the potential for substantial financial returns has attracted great interest for biotechnology in public markets, creating a demand for analysts, venture capitalists, and investment bankers with an understanding of biotechnology – related financial issues.
The challenges include making decisions with either perfect ( higher risk, higher return expectation ) or imperfect ( technology, market, people, intellectual property, etc ) information to picking up a financial partner in the strategic business.
Post Graduate Diploma and Post Graduate Courses in Biotechnology Management
The syllabus for PG Diploma and Post Graduate in Biotechnology Management varies from university to university.
Most Program cover the following titles viz : Legal Aspects of Business, Financial Management, Business Communication, Managerial Economics, Human Resource Management, Management Information Systems, Logistics & Supply Chain Management, Decision Science, Sales and Distribution, Financial and Cost Accounting, Intellectual Property Rights, Fundamentals of Marketing, Research Methodology, Principles of Management, Marketing Management, Strategic Management, Product and Brand Management, Project Management, Taxation, Quantitative Models in Marketing, Rural Marketing, International Business, Marketing Strategy, Integrated Marketing Communications, Consumer and Industrial Buyer Behaviour, Biochemistry and Physiology, Microbiology, Bionanotechnology, Applied Biotechnology, Medical Biotechnology, Food Biotechnology, Pharmacology and Pharmacognosy, Hospital and Health Care Management, Clinical Research, Regulatory Affairs, Bioinformatics and Drug Designing.
To fulfill the increasing demand of technology managers, institutes and universities in India and abroad offer Management Programs in Biotechnology. Courses are open to graduate students of all streams like Arts, Science, Commerce, Engineering etc.
A course in biotech management is generally available at post – graduate level. Preference is given to students who have completed their Bachelors or Master’s degree in Science ( Special / General with Biotechnology, Biology, Biochemistry, Botany, Chemistry, Microbiology, Physics, Zoology etc ), Agriculture, Ayurveda, Engineering Medical Sciences, Pharmacy, Technology, Veterinary Sciences or an equivalent qualification with a minimum of 50% marks.
As a course, biotech management not only provides students with a broad – based introduction to biotechnology but also introduces the theories and practices of management and managerial skills. Consequently it has emerged as an attractive career options for opportunities at the management level in bioinformatics, biotechnology and pharmaceutical industries.
Candidates with graduate ( BBA / BBM ) or post graduate degree in management equivalent to Master of Business Administration ( MBA ) or higher qualification can embark on the profession of Biotechnology Management.
Candidates with work experience in Biotechnology industry and degree or diploma in relevant study discipline like Biochemistry or Medical Physics can also join Biotechnology industry in management capacity. Working professionals with degree in Biotechnology at Post graduate and graduate level can also join fascinating profession of Biotechnology Management.
They will not only be trained in Finance, Economics, Human Resources, Strategy and other disciplines, will also be trained in application of this knowledge to the biotech industry in particular.
Both combine to build strong communication and interpersonal skills, adaptability, teamwork, diversity management, cross – cultural sensitivity, leadership, and time management skills which all contribute to making the MBA graduate a much sought after and skilled professional.
Biotechnology Management Professionals can find work opportunities in Biotechnology, Biochemical, Pharmaceutical, Clinical Research, Hospital, Environment, Nuclear Plants, and Academics.
Biotechnology Management Career Prospects
Experts and Analyst in the field of Biotechnology have predicted fv that biotechnology industry in India e will be worth USD 5.00 billion and it b will offer more than 100,000 jobs. Thus the MBAs in Biotechnology will be on high demand to manage core industrial issues both technical and non – technical and human resources.
The global economies of the world I have generated vast opportunities for Indian Biotechnology Industry through joint ventures, mergers, and acquisitions. Global economies have been sinking in past starting from 2007 but Indian Biotechnology Industry has been making continuous progress and has been on the progressive path in the financial year 2008 – 2009.
The key to a successful career in biotechnology, in spite of educational background or expertise, is to acknowledge and work towards the unique challenges faced by biotechnology companies. Also there are a multitude of other opportunities awaiting individuals without scientific degrees.
It is essential to comprehend that technology entrepreneurship is an attitude towards management. It is possible to select opportunities that will help one attain a rewarding career by understanding the factors, influencing the business of biotechnology companies.
At present, the biotechnology industry is beginning to introduce products to market. Several companies are establishing links with larger, more established drug firms to offer them the financial and marketing muscle they require for the next stage their development.
Marketing and sales experts are needed to study and develope markets and ultimately enable the delivery of products to consumers. The scope for growth and development in this field is immense and multitude of or learning
Opportunities are made accessible.
Government and Privately owned business organizations engaged in biotechnology businesses are keen to market technologies from laboratories to market.
Management Professionals leveraged with biotechnology knowledge will prove worthy for the benefit of industry and society at home and at global level.
The Management Programme in biotechnology ( MBA Biotech ) is aimed at equipping students to turn Management savvy professionals for the services of Biotechnology industry. It also deals with managerial and entrepreneurial aspects in biotechnology, chemical, pharmaceutical and allied Industries.
Qualities of Biotechnology Management professional include effective and optimum utilization of biotech research, adopting holistic, vision towards the research for the betterment of mankind, ethical high issues, environmental issues and ruling out redundant experiments is with nature and adhering to certain principles related to ethical issues.
The Biotechnology focused managers will also monitor the socio – economic and ethical issues, so that the technology is harnessed and applied for the holistic betterment of mankind.
Biotechnology Management Remuneration :
Generally, as a trainee, one can start with a high salary and Command a higher remuneration as the experience increases. Multi National Companies ( MNC’s ) and private companies usually pay higher. Today biotech professionals symbolize success and quick career growth.
Since Biotechnology management is a knowledge intensive industry, it is expected that India will have a competitive app advantage and will be able to take full advantage of this opportunity, as has happened in the case of the information technology industry.
To ensure that this opportunity is fully utilized and developed for national economic benefit, a vital need will gain be of trained manpower, both Technological as well managerial. Considering vast opportunities in Biotechnology industry, Management programs are offered in different Universities in the country as a part of a path and Breaking initiative to help catalyze and direct this technology revolution.
One who is pursuing Management Program in Biotechnology will equip oneself to become a good Team – leader with excellent communication skills, yearn to learn quickly to gain knowledge about biotechnology industry. The biotechnology industry is one of the most competitive industries. The industry’s need is a new breed of manager that possesses both the general business acumen, and the specialized knowledge on every issue in biotechnology.
The Master in Biotechnology Management ( MBA with Biotech Specializations ) will provide the core business fundamentals you need in order to become a holistic manager, as well as the specialized know – how you need in the biotech industry.
Self Employment Biotechnology :
They can establish new enterprises, open new markets and generate collective wealth in their, communities. One who has Masters in Biotechnology Management can now gain access to this specific industry’s companies, top jobs, network, and become a leader in this exciting sector.
As a constant attempt : to enhance the lives of humans and it quality of the environment, the application of biotechnology to biological science is the heart of biotechnology management, Biotechnology is seen as new hope for knowledge development, Owing largely to several discoveries, bio – tech industry has gained momentum in India and abroad.
As this is knowledge intensive Field, India is expected to have a competitive advantage something on the lines of information technology revolution. With the objective of capitalizing and expanding this fast growing field, there is a great need for professional manpower and expertise, both technological as well as managerial.
Biotechnology Management Career Opportunities – Course of Study – Career Opportunities – Post Graduate Diploma and Post Graduate Courses in Biotechnology Management.
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