Narendran's Dilemma

Published: 2021-09-13 10:40:10
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[pic 1][pic 2]Table of ContentsExecutive Summary        HighlightsObjectivesMission StatementKeys to SuccessSituational Analyis        Decision Problem Statement        Criteria for decision Making        V. Aletrnatives VI. Evaluation of AlternativesVII. Implementation with contingency Plan Executive SummaryDr. Narendran, director of IMC has 32 years of experience in medical line, despite having such a remarkable career he has never explored the area of commercialization or protecting Intellectual Property i.e. patenting. One of his colleagues, Dr. Ramkumar, Associate Professor of Pharmacology Department, had come with a proposal of patenting herbo-mineral Siddha formulation. Dr. Narendran was baffled about the course of action to be taken for Dr. Ramkumar's request. After assessing the situation carefully , he opts for patenting as that would be fruitful in the long run. It would also prevent other researchers from discovering similar formulations, patent it, and restrict them from using their own formulations. Moreover, patenting would give a boost to other ongoing research activities around in IMC. On the basis of available criteria's, he goes for patenting and selling the formulation to an entrepreneur and earn royalty. This approach would not only maximize profit with minimum available resource but would also help Siddha system gain worldwide recognition and preserve the indigenous flavor of a medicinal system exclusive to India.

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