Harvard Case - 1928 Diagnostics: Fighting Antibiotics Resistance
"1928 Diagnostics: Fighting Antibiotics Resistance" Harvard business case study is written by Ariel D. Stern, Daniela Beyersdorfer. It deals with the challenges in the field of Operations Management. The case study is 25 page(s) long and it was first published on : Aug 28, 2020
At Fern Fort University, we recommend that 1928 Diagnostics adopt a comprehensive strategy focused on innovation, operational excellence, and strategic partnerships to combat antibiotic resistance and achieve sustainable growth. This strategy involves a multi-pronged approach encompassing product development, manufacturing processes, supply chain management, and market expansion.
2. Background
1928 Diagnostics is a small, privately-owned company specializing in rapid diagnostic tests (RDTs) for infectious diseases. They face the challenge of rising antibiotic resistance, which threatens global health and economic stability. The company aims to develop and commercialize innovative diagnostic solutions to help healthcare professionals identify and treat infections effectively, thereby reducing the misuse of antibiotics.
The case study focuses on the company's current challenges, including:
- Limited resources: 1928 Diagnostics operates with a small team and limited funding, hindering its ability to invest in research and development, manufacturing, and marketing.
- Competition: The diagnostic testing market is highly competitive, with larger companies possessing significant resources and established market presence.
- Market entry barriers: Gaining regulatory approval for new diagnostic tests is a complex and costly process, presenting a significant hurdle for 1928 Diagnostics.
- Antibiotic resistance: The increasing prevalence of antibiotic resistance poses a significant threat to global health, demanding innovative solutions to address this growing crisis.
3. Analysis of the Case Study
Strategic Framework: We will analyze the case using Porter's Five Forces framework to understand the competitive landscape and identify opportunities for 1928 Diagnostics.
- Threat of New Entrants: The diagnostic testing market has moderate barriers to entry due to regulatory requirements and the need for significant investment in R&D. However, the growing demand for rapid and accurate diagnostics creates opportunities for new players.
- Bargaining Power of Buyers: Healthcare providers have moderate bargaining power as they can choose from various diagnostic testing options. However, the need for accurate and timely results gives 1928 Diagnostics a competitive advantage.
- Bargaining Power of Suppliers: The bargaining power of suppliers is moderate, as 1928 Diagnostics relies on various suppliers for raw materials and manufacturing components.
- Threat of Substitute Products: The threat of substitute products is moderate, as other diagnostic methods exist, such as traditional culture-based tests. However, RDTs offer advantages in speed and convenience, creating a niche for 1928 Diagnostics.
- Competitive Rivalry: The diagnostic testing market is highly competitive, with established players like Abbott Laboratories and Roche Diagnostics. 1928 Diagnostics needs to differentiate itself through innovation and focus on specific market niches.
Operational Framework: We will use the Lean Manufacturing framework to analyze 1928 Diagnostics' operational efficiency and identify areas for improvement.
- Value Stream Mapping: Mapping the entire value stream from raw material procurement to product delivery can identify waste and inefficiencies in the current process.
- Elimination of Waste: Identifying and eliminating non-value-adding activities, such as unnecessary inventory, rework, and transportation, can significantly improve efficiency and reduce costs.
- Continuous Improvement: Implementing a culture of continuous improvement through initiatives like Kaizen and Six Sigma can drive ongoing optimization of production processes and product quality.
4. Recommendations
1. Product Development and Innovation:
- Focus on niche markets: Target specific infectious diseases with high antibiotic resistance, such as urinary tract infections and respiratory infections.
- Develop rapid, accurate, and cost-effective diagnostics: Invest in R&D to develop innovative RDTs with improved sensitivity, specificity, and turnaround time.
- Leverage technology: Explore the use of artificial intelligence (AI) and machine learning (ML) to enhance diagnostic accuracy and automate data analysis.
- Collaborate with research institutions: Partner with universities and research centers to access expertise and accelerate product development.
2. Operations Strategy and Supply Chain Management:
- Optimize manufacturing processes: Implement lean manufacturing principles to streamline production processes, reduce waste, and improve efficiency.
- Adopt Just-in-Time (JIT) production: Minimize inventory levels and reduce storage costs by producing products only when needed.
- Implement robust quality control systems: Establish rigorous quality control measures throughout the manufacturing process to ensure product reliability and accuracy.
- Develop a strong supply chain: Secure reliable suppliers for raw materials and components, ensuring timely delivery and consistent quality.
- Explore outsourcing options: Consider outsourcing non-core functions, such as manufacturing or logistics, to reduce overhead costs and focus on core competencies.
3. Marketing and Market Expansion:
- Target key customer segments: Identify and target healthcare professionals, hospitals, and clinics with high patient volumes and a need for rapid diagnostics.
- Develop effective marketing materials: Create compelling marketing materials that highlight the benefits of 1928 Diagnostics' products and address the challenges of antibiotic resistance.
- Leverage digital marketing: Utilize online platforms, social media, and search engine optimization (SEO) to reach a wider audience.
- Explore international markets: Identify potential markets with high antibiotic resistance rates and favorable regulatory environments for market expansion.
4. Strategic Partnerships:
- Collaborate with pharmaceutical companies: Partner with pharmaceutical companies to develop integrated diagnostic and treatment solutions.
- Engage with government agencies: Work with health authorities to raise awareness about antibiotic resistance and promote the use of rapid diagnostics.
- Join industry associations: Become active members of industry associations to network with other players and stay abreast of industry trends.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with 1928 Diagnostics' mission to develop innovative diagnostic solutions to combat antibiotic resistance.
- External customers and internal clients: The recommendations address the needs of healthcare professionals, patients, and the company's internal stakeholders.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate 1928 Diagnostics through innovation, operational excellence, and strategic partnerships.
- Attractiveness ' quantitative measures: The recommendations are expected to increase revenue, improve profitability, and enhance the company's long-term sustainability.
Assumptions:
- The global demand for rapid diagnostics will continue to grow.
- 1928 Diagnostics can secure funding for research and development, manufacturing, and marketing initiatives.
- The company can successfully navigate regulatory hurdles and gain approval for new diagnostic tests.
6. Conclusion
By embracing innovation, operational excellence, and strategic partnerships, 1928 Diagnostics can position itself as a leader in the fight against antibiotic resistance and achieve sustainable growth. The company's focus on niche markets, rapid and accurate diagnostics, and a lean and efficient operation will enable it to compete effectively in a challenging market environment.
7. Discussion
Alternative Options:
- Merging with a larger company: This could provide access to resources and market reach but could dilute the company's control and focus.
- Focusing solely on research and development: This would allow the company to develop cutting-edge technologies but could delay commercialization and revenue generation.
Risks and Key Assumptions:
- Funding challenges: Securing sufficient funding for R&D, manufacturing, and marketing is crucial.
- Regulatory hurdles: Navigating regulatory approval processes can be time-consuming and costly.
- Market acceptance: Gaining market acceptance for new diagnostic tests requires effective marketing and education.
Options Grid:
| Option | Advantages | Disadvantages | Risks |
|---|---|---|---|
| Innovation and Operational Excellence | Strong competitive advantage, increased market share, improved profitability | Requires significant investment, potential for delays in product development | Funding challenges, regulatory hurdles, market acceptance |
| Merging with a larger company | Access to resources and market reach | Loss of control, potential dilution of focus | Cultural clashes, integration challenges |
| Focusing solely on research and development | Development of cutting-edge technologies | Delayed commercialization, limited revenue generation | Funding challenges, potential for technology obsolescence |
8. Next Steps
Timeline:
- Year 1: Secure funding, finalize product development, and initiate manufacturing process optimization.
- Year 2: Launch initial products in targeted markets, expand marketing efforts, and explore strategic partnerships.
- Year 3: Expand product portfolio, enter new markets, and establish a strong brand presence.
Key Milestones:
- Secure funding for R&D and manufacturing.
- Obtain regulatory approval for new diagnostic tests.
- Develop a robust supply chain and manufacturing process.
- Launch initial products in targeted markets.
- Establish strategic partnerships with pharmaceutical companies, healthcare providers, and government agencies.
By implementing these recommendations and diligently pursuing these next steps, 1928 Diagnostics can effectively combat antibiotic resistance, achieve sustainable growth, and make a significant contribution to global health.
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Case Description
In 2019, the co-founders of the Swedish medical start-up 1928 Diagnostics, CEO Dr. Kristina Lagerstedt and COO Dr. Susanne Staaf, had to pick the right business model to commercialize their novel technology to hospitals and health care providers. Developed in partnership with research hospitals to help fight the global antibiotic resistance crisis, the firm's cloud-based technology platform helped partners identify resistant genes and mutations in bacteria more quickly and accurately, allowing for easier outbreak cluster tracking in support of hospital infection control management, as well as better diagnostics and antibiotic selection. By 2019, they had raised $5 million, employed 16 people, and had their tool deployed at 24 partner sites in 10 different countries. Their decisions on which markets to focus on and with which business model would crucially impact the young firm's chances at successfully converting existing users and attracting new clients.
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