The pharmaceutical industry is a highly competitive market where the development of one product can take many years and cost billions of dollars.
The lifecycle of a compound is critical to the survival of pharmaceutical organizations. It consists of discovering, performing trials, getting approvals, and ultimately obtaining a patent. It is hard to manage this lifecycle by itself, but consider for a moment an environment with people, organizations, and countries constantly testing your resolve. Whether it is malicious intent, theft, or “just because,” the reality is that these situations threaten the business every day.
The NC State Grand Business Challenge introduces MBA students to this industry and presents an opportunity to gain exposure and insight into real-world business challenges, all while evaluating how they react under pressure.
Merck is developing a set of case challenges to tackle the business side of these obstacles and wants your MBA program to put its best 4-person team forward to represent your school and showcase its perspective on these challenges.
Merck will observe and judge the student teams to gain a new outlook on how the company should internally be thinking about challenges and innovation management.
Students do not need to be experts in healthcare, IT, or the security sector in order to compete. Merck will release high-level challenge information in advance of the event, thereby allowing each challenge team the opportunity to familiarize themselves with the material.