Management for Scientists

Scientific progress - from creating better medicines to building better bridges or designing improved technology networks - can lead to intriguing business opportunities, but business expertise is not always a natural companion to scientific excellence. Scientists require a nuanced understanding of the modern business environment to successfully navigate the commercial world and maximise the economic potential of their ideas. Management for Scientists explores the core theories and practices in management studies today in a context applicable to those working in the scientific industries. Essential business concepts covered include corporate strategy and business planning, organisation structure, management and operations, and labour and human resources, and these are all viewed through the prism of building, maintaining and developing a scientific business in the pharmaceutical, biotechnology, engineering, maths, and computing sectors. Chapters feature a range of real-world examples from modern science-driven businesses, presented by experienced scientists with demonstrated strategic and economic business expertise. Title Page Contents About the Authors Foreword Introduction Chapter 1-Economics, Monetary Theory and Fiscal Policy What We Will Learn What is an Economy? A Brief Historical Introduction Command Economies versus Control Economies Adam Smith David Ricardo Reminder International Trade Theory International Trade Factors Consumer Choice Supply and Demand Utility: A Measure of Satisfaction Scarcity: Increasing Demands on a Finite Resource Base Externalities and Corrections Corrections. Monetary Theory and Fiscal Policy Business Cycle Why Boom and Bust? Keynesian Economics Monetarism What is Money? Inflation More Terms: Interest Rates Government National Accounts Capital and Financial Accounts Banks and Financial Institutions Bank of England Thinkbox 3: The Bank of England Reference Further Reading Classics Contemporary Case Study: 1997 Southeast Asian Crash Useful Web Links Chapter 2-Theory of the Firm and the Law What We Will Learn Thinkbox 1: Jargon Buster An Overview of Business Vehicles and Ownership Incorporation Thinkbox 2: Consider the Tax Implications of Establishing Your Company in Your Chosen Country Before Incorporation Role of Companies House Group Structure Mergers and Acquisitions Disclaimer: Running a Business: Directors’ Duties Audits and Governance Income and Tax Compliance Issues References and Further Reading Exercises Useful Web Links Chapter 3-Entrepreneurship What We Will Learn The Importance of Entrepreneurship Thinkbox 1: Conditions of Justice: The Case of the EU Thinkbox 2: Kondratieff Cycles: A STEM Perspective? What Entrepreneurship Is and How it Uses Innovation Invention Creativity Innovation Thinkbox 3: Value Chains Discovery, Invention and Innovation Thinkbox 4: Rewards along the Discovery-innovation Spectrum The People Angle Thinkbox 5: The Adoption of Innovations in Peripheral Areas Raising Finance Entrepreneurship in Various Sectors Summary References Further Reading Useful Web Links Chapter 4-Organizational Structures for Tech Firms What We Will Learn Introduction: The Importance of Hierarchies Taylorism, Assembly Lines and Specialisation One-sided Exploitation of Employees Through the Firm One-Sided Exploitation of the Firm by Its Employees Generalisation of One-sided Exploitation: The Specificity of Investments From Assembly Lines to Teams From Teams to Tournaments Crowding Out of Internal Motivation Conclusion References Further Reading Useful Web Links Chapter 5-Strategy and Strategic Management What We Will Learn Introduction The Strategic Management Process Generic versus Specific Strategy Generic Strategy Specific Strategy Corporate Planning Corporate Planning Process Balanced Scorecard Looking at Uncertainty Strategic Management; The Johnson, Scholes and Whittington Approach Self-awareness Strategic Management Tools Johnson and Scholes Paradigm ‘The Cultural Web’ McKinsey 7-S Model Mintzberg’s 5-P’s of Strategy Putting it Together: The Sweet Spot The Environment: Strategic and Competitor Analysis Customer Awareness Tools for Analysing the Environment SWOT PESTEL Porter’s Five Forces Ohmae’s 3-C’s Igor Ansoff Porter’s Generic Strategies Bowman’s Strategy Clock Treacy and Wiersma Kotler Ethics References Strategy Texts Further Reading Strategy Texts Other Useful Web Links Chapter 6-Information and Knowledge Governance What We Will Learn Big Data and Its Relationship with Information Technologies Systems Thinking Through the Lens of the Corporate Environment Understanding Knowledge Sharing Knowledge from the Individual to the Organisation Organisational Knowledge to Organisational Effectiveness The Service Economy Towards Service Co-creation Information Strategy Information Governance Information Technology and the Knowledge Economy Access to Data Conclusion References Further Reading Useful Web Links Chapter 7-Change Management: The Organization as a Micro–Macro System What We Will Learn 1. Organisations as a Micro–Macro System 1.1. The Macrolevel 1.2. The Macro-to-Micro Link 1.3. The Microlevel 1.4. The Micro-to-Macro Link 2. Organisational Change as Changing the System Organisation 2.1. The Organisational Macrolevel: A Change Strategy for Aligning the Organisation 2.2. Macro-to-Micro Link: The Relevance of Implementation for Change within the Firm 2.3. The Micro Framework: How Staff Reacts to Change Management 2.4. The Micro-to-Macro Link: Aggregating Individual Behaviour for Reconstructing the Company’s Output Changes Conclusion: Changing Systems, Not People Further Reading References Case Study Useful Web Links Chapter 8-Marketing for Scientists What We Will Learn Market Orientation What can be Marketed? Marketing Mix Environmental Analysis Consumer Behaviour in the Business-to-Consumer Context Organizational Buyer Behaviour Marketing Research Marketing Strategy Segmentation Targeting Positioning Marketing Mix Branding Brand Experience Price Pricing Strategies Pricing Methods Place Promotion Global Marketing References Further Reading Useful Web Links Chapter 9-HR Theory and Employment Law What We Will Learn Employment and the Law Sources of Employment Law What is Employment? Regulation Is a Relationship ‘Employment’? The Employment Contract Written and Oral Contracts Contract for Service or Contract for Services? Regulating the Employment Relationship Equality and Employment Rights Human Right to Pursue a Trade or Profession Atypical Workers Health and Safety: Working-time Regulations Work and Family Life Statutory and Regulatory Employment Rights The Role of Case Law in Developing Employment Rights Regulating Employment – Common Law Managing the Employment Relationship Grievance Procedures Protected Disclosures/Whistleblowing Disciplinary Terminating Employment Employment Disputes Brexit References Further Reading Useful Web Links Chapter 10-Intellectual Property Rights (IPRs) What We Will Learn The Importance of IPRs Which IPR Do I Choose and What Do I Have to Do to Obtain one? Copyright Protection of Original Works TMs and A Company’s Brand Design Rights and the Appearance of a Product Patents and Protecting Inventions Trade Secrets Combinations of Different IPRs One Final Thought References Further Reading Useful Web Links Chapter 11-Online Resources for Biologists What We Will Learn The Bioinformatics Revolution The Flow and Transformation of Genetic Information The Main Online Resources Specialised Online Resources for 3D Structure Prediction and Analysis Domains of Application References Further Reading Useful Web Links Chapter 12-Management in Life Sciences What We Will Learn Introduction What is Disruptive Innovation? Some Disruptive Innovations in Biotechnology Management Strategies for Creating Disruptive Business Models What Typifies Poor Management Practice? Reasons for Incumbents’ Failure Future Trends in Biotechnology References Further Reading Useful Web Links Chapter 13-Agile Methods for Engineering What We Will Learn The Benefits of Agile The Importance of Agile Thinkbox 1: Benefits of Agile What is Agile? Thinkbox 2: Agile Concepts The Agile Manifesto and The 12 Agile Principles Thinkbox 3: Agile Manifesto, Principles and Some Myths/Misconceptions When to Use Agile Thinkbox 4: Cynefen Framework (Snowden & Boone, 2007). Scrum: A Short Overview Thinkbox 5: Scrum The Agile Project Management Framework (AgilePM®) Thinkbox 6: Scrum and AgilePM Compared Across Industries Agile Governance Through Agile Programme Management and Agile Portfolio Management Agile Leadership and Culture Summary References Further Reading Index