SHMC Brings “Biotech Revolution” to JGSM
Sebastien Cleiftie ‘02
Issue date: 4/5/01 Section: Johnson News
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The Science and Health Management Club (SHMC) was originally founded to establish a network of students interested in the Pharmaceutical and Biotech Industries. Last semester, a few students and I took leadership of the club with the intention of taking it a step further. Our goal is to make the Johnson School a leading recruiting ground for life science companies, with a strong emphasis on biotechnology.
We believe that this goal will soon become a priority for all MBA programs for the following reason: the “Biotech Revolution”, currently in progress, is the engine for rapid growth in numerous biotech-related industries, bringing about increasing demand for business professionals with knowledge of these industries. Biotechnology, a vaguely defined umbrella industry, encompasses such sectors as agriculture (genetically modified organisms), medicine (therapies), environment (bio-remediation) and computer science (bioinformatics). In addition, exponential growth in the size and number of biotech firms will have an important spillover effect in the banking and consultancy businesses, as these new firms will be in urgent need of strategic and financial advice.
As a result, MBA students who understand business in the life sciences industries will soon be in high demand. One early sign of this transformation is the emergence of “mature” Biotech firms such as Amgen and Genentech, whose needs for MBAs in finance, marketing, HR and business development are already evident. Many more will soon follow, and this is just the beginning. It is therefore clear that MBA programs must effectively expose MBA students to biotechnology and possess the right infrastructure to do so. The SHMC believes that the Johnson school can effectively provide this exposure better than others through its external and internal capabilities.
From an external standpoint, the Johnson School can exploit an invaluable asset: being a part of Cornell University. Few campuses can claim to have such strong technology and technology transfer capabilities as Cornell does (other Stanford and MIT). The Biotechnology Institute, the School of Engineering, the center for Nanobiotechnology, and the Veterinary school are all within an arms reach. They represent a fertile ground for MBA students interested in gaining an understanding of bio-science and the business of bio-science while earning an MBA. Developing this network will provide the Johnson School with a critical advantage to attract prospective business students interested in building a career in business and technology.
We believe that this goal will soon become a priority for all MBA programs for the following reason: the “Biotech Revolution”, currently in progress, is the engine for rapid growth in numerous biotech-related industries, bringing about increasing demand for business professionals with knowledge of these industries. Biotechnology, a vaguely defined umbrella industry, encompasses such sectors as agriculture (genetically modified organisms), medicine (therapies), environment (bio-remediation) and computer science (bioinformatics). In addition, exponential growth in the size and number of biotech firms will have an important spillover effect in the banking and consultancy businesses, as these new firms will be in urgent need of strategic and financial advice.
As a result, MBA students who understand business in the life sciences industries will soon be in high demand. One early sign of this transformation is the emergence of “mature” Biotech firms such as Amgen and Genentech, whose needs for MBAs in finance, marketing, HR and business development are already evident. Many more will soon follow, and this is just the beginning. It is therefore clear that MBA programs must effectively expose MBA students to biotechnology and possess the right infrastructure to do so. The SHMC believes that the Johnson school can effectively provide this exposure better than others through its external and internal capabilities.
From an external standpoint, the Johnson School can exploit an invaluable asset: being a part of Cornell University. Few campuses can claim to have such strong technology and technology transfer capabilities as Cornell does (other Stanford and MIT). The Biotechnology Institute, the School of Engineering, the center for Nanobiotechnology, and the Veterinary school are all within an arms reach. They represent a fertile ground for MBA students interested in gaining an understanding of bio-science and the business of bio-science while earning an MBA. Developing this network will provide the Johnson School with a critical advantage to attract prospective business students interested in building a career in business and technology.