SWOT Analysis in the Life Sciences

PAPER – SWOT Analysis in the Life Sciences (100 points/10%)

Addresses Course Outcomes 1, 2, 3 and 4:

Interpret and critically analyze primary scientific literature to assess the validity and reliability of scientific results and evaluate the conclusions drawn from these data

Demonstrate proficiency in scientific principles, techniques, and applications in the life sciences to evaluate experimental design and determine compliance with standards of protocol and ethical practice

Effectively communicate scientific principles, concepts, methods, and research findings based on critical analysis of primary literature, industry reports, and other life sciences resources

Pose vital and relevant scientific questions to identify problems, challenges, and opportunities for the development of innovative products and services in the life sciences

SWOT, which represents Strengths, Weaknesses, Opportunities and Threats, is an analysis that is often used during strategic business planning. It can serve as a precursor to any sort of company action, such as exploring new initiatives or identifying possible areas for change. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved making in a decision. Although at first glance the SWOT analysis seems more fitting for a business course, its application in biotechnology is very valuable. Many start-up companies or new products and services in the life sciences are initiated by researchers who recognize make new discoveries, encounter seemingly insurmountable technical problems, or recognize an opportunity to serve other industries. The SWOT analysis enables these researchers to identify both internal influences (strengths and weaknesses) and external influences (opportunities and threats) that will have an impact on their prospective innovation. This process is often based on the observations (the first step in the scientific method) gleaned from primary scientific literature.

PRE-SWOT ANALYSIS

For this assignment, you will read the required resources and watch the required videos listed below on the topics of innovation and creativity. (You should take notes about key take-away messages, but you need not submit these notes.)
Next, you will read, analyze and critique primary article A, which will be provided for you, and which centers on a specific area of biotechnology.

THE SWOT ANALYSIS

Imagine that you are the CEO of a biotechnology company looking to develop an innovation in the life sciences. You have just read an interesting primary research article (primary article A) based on a specific area of biotechnology. Primary article A will serve as the basis for observations that can lead to the identification of future research challenges and/or opportunities in one of the following ways:

1) the development of a new research technique, or

2) the development of a new research project, or

3) the development of a new product, or

4) the development of a new service

Once you have identified an innovative technique, project, product, or service, based on primary article A, you will perform a SWOT analysis to determine your company’s ability to take the innovation to the market, i.e., its potential for success. The SWOT analysis must include all criteria as specified below. Deviations or missing elements will result in point deductions.

The SWOT Analysis

SWOT Paper Format (10 points)
Paper file name and title page (4):
Save your file as follows: First and last name – SWOT (e.g., Sharon Brown – SWOT) (2)
Title page (name, instructor, title, due date) (2)
Headings and subheadings labeled as found the SWOT Paper Content (A-B) below (1)
Type double-spaced, 11-point, Times New Roman font paper with 1-inch margins (2)
4-5 pages (not including title page and reference pages) (3)
SWOT Paper Content (70 points)
Introduction of your company – you will use this company for the remainder of the course assignments (8 points)
Determine the type of company you head as CEO (manufacturing, medical, agricultural, environmental, etc.) (4)
Name your company, its location and its employee base (4)
Introduction of the innovation (22 points)
Trace the scientific method (12) – identify the observations, question, hypothesis, experiment, results, and conclusion of primary article A.
Eureka! moment (5) – In 4-5 sentences, describe an aspect of the research presented in primary article A (introduction, materials, methods, results, discussion, or conclusion) that stood out as you read primary article A which you believe could lead to an innovative technique, project, product, or service in the life sciences for your company.
Innovation (5) – Based on the Eureka! moment you have described, fully explain the innovative technique, service, product, or research that you have conceived. The innovation must be a technique, project, product, or service that you conceived on your own – not one already presented in primary article A.
SWOT Analysis of the innovation (40 points)
SWOT Analysis Chart (20) – Use the information presented in the SWOT analysis PowerPoint presentation to perform a SWOT analysis based on your company and your proposed innovative method, research, product, or service. Remember, DO NOT BASE THE SWOT ANALYSIS ON THE INNOVATION ITSELF, but rather on the characteristics of your company that will influence its ability produce the innovation, i.e., bring it to market.
Fill in the following chart and imbed into your paper.

Internal Strengths (S) List 5 internal factors

Internal Weaknesses (W) List 5 internal factors –

External Opportunities (O) 5 external factors

External Threats (T) 5 external factors

SWOT Analysis follow-up based on your completed SWOT analysis (20)
How can you use the internal strengths to take advantage of your external opportunities? (5)
How can you minimize the internal weaknesses to avoid the external threats? (5)
How can the external opportunities help you combat the internal weaknesses? (5)
How can the internal strengths combat the external threats? (5)

III. Paper References (15 points) No references = zero for this assignment

Use at least 5 references (5) DO NOT USE WIKIPEDIA
In-text references in APA format (5) (All references should be cited throughout the paper)
End references in APA-format (5)

SWOT Paper Grammar (5 points) Spelling, punctuation, capitalization, sentence construction, and paragraph construction will be considered in the grading of this assignment.