Use of Simulations in Pharma & MedTech:
Mostly Translational Sciences (TS) policies and priorities focus on biomedical research, education of biomedical scientists, and conventional treatment options. They do not address the value of a skilled workforce in the clinical medical and health professions and the importance of rigorous clinical education for the delivery of effective health care. Human capital, embodied in competent physicians and other health professionals, is an essential feature of TS.
Simulation-based Medical Education (SBME), which is different from traditional clinical education because of standardization and a focus on learners rather than patients, is well suited to help physicians and care-givers acquire a broad range of competencies.
Innovation in products, markets, and business models fuels business growth, and disruptive strategies radically change the business ecosystem. When managing innovation, firms must decide whether to invest in new products for markets that do not yet exist, with business models that have not yet been tried.
Leaders consistently miss big opportunities when faced with disruption because traditional analysis methods are inadequate when faced with innovation. Working with disruptive strategies is different than predicting the future based on our view of the past. It is important not to just predict the future, but to think about how to create the future with our decisions.
The need for new Methods for Analyzing and Communicating Business Strategies
The dynamics of the taxi aggregator market when introducing change, is far more complex than the traditional market with fixed market size. To analyze the system, it is necessary to understand its structure, inside interdependences, and feedbacks. Causal Loop Diagrams (CLD) and Stock & Flow diagrams (SFD) are commonly used in System dynamics to analyse these disruptive ideas.