Assessing the Business Opportunity
In order to assess business opportunities of Renovo, factors such as market opportunity, technology, management and overall business plan of the company shall be evaluated and it will be decided whether or not an investor should invest in the company. (Wong et al., 2010).
Market Opportunity
The market opportunity attached to Renovo is considerable scar reducing products. It was evaluated that there was about sixty million applications received related to scar preventions, which is well above the expectations of the company (Yitshaki, 2012). Also, opportunities are available in veterinary applications.
The demand for innovative scar free treatments is currently at surge in the U.S as well as in most nations
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Secondly, it is also expected that there would be larger amount of tissue damages as a result of trauma in the future which means that there would be a larger number of people looking forward to getting surgeries related to different organs in the body (Lackenby and Meyerhoff, 2012).
However a major concern for Renovo was the existing cheap and less expensive wound management treatments available in the market in the form of gels and creams, pressure garments, steroid injection, irradiation, injections and drugs. And people may not be ready to undergo expensive and specialised treatments. However most of these scar treatments involved longer application or hospital stays. Hence it is expected that any treatment which would facilitate faster results and lesser hospital stays would be welcomed in the market and would likely create higher demand (Zahra, Ireland and Hitt,
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Investing in experimental technology is highly risky but very cost effective in a long run if successful.
Management
The essence of making a business flourishes lies within the management of that particular business. From the brief it can be seen that the management of Renovo is highly capable and competitive in terms of running the business.
The main source of finance for Renovo are its venture capitalists. However, the entrepreneurs expect the VCs to not only invest their finance. Although the management of the company has proven its expertise and capabilities in overcoming a number of hurdles in its initial years, the importance of technical contribution by the VCs towards the company cannot be denied. The entrepreneurs are capable of forming close relationships with various medical and research institutes was particularly essential. It is evident that the management is having good analytical skills.
On the contrary, the services provided by Renovo involve critical clinical trials in order to operate effectively but its management does not possess enough expertise in the regards of these trails and this would come up as a major issue for the
Resection was a process that “involved cutting open the limb, sawing out the damaged bone, and then closing the incision” (Jones, 1). Resection allows the patient to keep his limbs but it requires a great ordeal of time and skill. This also contributed to the common practice of amputation during the war. But there were cases where surgeons did use this method. Terry J. Jones said in his NY Times article, “resections were used more frequently after surgeons learned that amputations had a much higher mortality rate” (Jones, 1). In another article by Corydon Ireland, it describes Mitchell Adam’s, a Harvard lecturer, grandfather who served as a volunteer surgeon during the Civil War. In the article, “Adams was not a champion of hasty amputations, but argued for excision and other limb-saving measures. And he describes the everyday pressures of a country practice in Framingham, Mass” (Ireland, 1). This meant that not all surgeons at the time only wanted to amputate but strived for alternate methods. This new knowledge shows that some surgeons were more dedicated to thinking about the well-being of their patients than others and this opens up to other possibilities that may have occurred during the war. This allows an image to come to mind of a surgeon diligently operating on a soldier with care and compassion. However, even though there may be many possibilities, we can’t truly know every event that occurs during a
MEBO Scar ointment was found to producesignificantly better outcomes from the perspective of aestheticsin comparison to the control group. Overall, itching relief was observed in 97.5% patients; texture was normal in 50% and soft in 47.5%; scar shrinkage in 97.5%; skin color was close to normal in 75% and light in 22.5% (p<0.001, for all parameters) (Table 4). In this study ,there was no adverse effect or allergy were recorded in test
...ntroduction of these two initiatives, there has been documented evidence of reduced incidences. Unfortunately, the human factor is still and will always be an issue. Success in clinical environments will only come if these tools are implemented and used properly, not just as “a tick box exercise” (Featherstone, et al., 2010).
So were burns and wounds. Also, rhinoplasties were used to cure syphilis. Some might say surgeries were unsuccessful because of the lack of expertise. This is true, many of the surgeons were untrained barber-surgeons. Then in the Renaissance, a movement started to train more surgeons.
It is also suggested that those of ‘high risk’ cases should be subjected to a longer treatment period
The Company publishes "Modern Methods of Antiseptic Wound Treatment," which quickly becomes one of the standard teaching texts for antiseptic surgery. It helps spread the practice of sterile surgery in the U.S. and around the world.
Because of the lack of knowledge about many ailments, many advances in hospitals were completed. Anesthetics were developed, as well as clinics for rehabilitation and new knowledge was gained on the matter of reconstructive surgery. As a result of scurvy, soldiers frequently required reconstructive bone and joint surgery, just to be able to walk again.
First and foremost, addressing the use of cosmetic or, in this sense more aptly, aesthetic surgery for restoration and reparation of human anatomy damaged by unfortunate incidents, it is common to come to a consensus where people are agreeable to the sur...
Because I provide the surgeon with medications, hemostatic agents and irrigation solutions it is crucial to know the proper usage of each, along with the side effects, patient's allergies, and contradictions of certain medications and their reactive
One of the leading reasons as to why cosmetic surgery should be banned is because of some serious, and neglected, risks that patients may encounter when put under the knife. To be more precise, a procedure that one may see to be harmless and basic may carry out just as many negative affects as a serious one. In “Clinical Risk,” Mercer (2009) states, "All cosmetic treatments are medical interventions, and every medical intervention has a complication and failure rate”. The paraffin being injected in the faces of people who get Botox done, for instance, may overtime spread into unwanted places that would cause the sagging of the face, contrary to the whole purpose of this procedure. Sometimes the negative effects are not seen immediately, but over the course of life become more apparent. When one has a more serious surgery the risks obviously boost drastically. A vast amount of blood loss is also a major threat in such operations. One may simply die of excessive bleeding even after the surgery is done, meaning that you are not only in danger when under the knife, but even when you are finished from the procedure (whether it be a success or not). Moreover, statistics prove that most people that even though a high number of people get surgery done, a higher percentage get a second one of those same surgical operations done later on due to not being satisfied with the results the first time around. It is this factor that aids and results in the unhealthy obsession.
...ways to clean and heal wounds. He realized the importance of cleaning the wounds. He also designed prosthetic limbs and the truss, which is designed to keep hernias from growing ( “Medicine”).
Discuss an assessment or evaluation strategy which may be used to help determine the marketing potential of an organization.
The case study is about an interview, conducted to four venture capitalists from four of the most prominent VC Silicon Valley firms, Kleiner Perkins Caufield & Byers (KPCB), Menlo Ventures, Trinity Ventures and Alta Partners. These firms invest both in seed as well as in later-stage companies, which operate mostly in the information technology sector. However, each VC has developed different sector portfolio depending on the expertise of the venture capitalists, the partner network and other factors. Professor Mike Roberts and Lauren Barley a senior research associate, both from Harvard Business School, have made a series of seven questions to their interviewees to understand how they evaluate potential venture opportunities and what they look at in order to decide if they will fund them and in which way. The questions were dealing with how VC’s evaluate potential venture opportunities, how they conduct due diligence, what process id followed for the decision making, what financial analyses is performed, the role of risk in the evaluation and how they think of potential exit routes. These questions were asked individually and revealed several similarities as well as differences in the strategy and the criteria that are used for the evaluation.
However, patients should register again and keep waiting for the specialist out-patient clinics. In light of the evidence, a streamlined process is being implemented so as to minimize the patient time. Based on the given reference, it is probable that services diminish the time externally. In fact, patients seem to be just waiting for help. Predictability :
Our approach in managing wounds was far from being optimal in our own setting. After having read the article of Sibbald et al (1) and assisting to presentations during the first residential week-end, our approach at St. Mary 's Hospital Center 's Family Medicine Clinic must change. We were not classifying wounds as healable, maintenance or non-healable. We were always considering the wounds in our practice as healable despite considering the system 's restraints or the patients ' preferences. In the following lines, I will define and summarize the methods one should use in order to initial management of wounds and how to integrate it better to our site. The first goal we need to set is to determine its ability to heal. In order to ascertain if a wound is healable, maintenance or a non-healable wound.