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Pharmacist Plans To Innovate Healthcare With An MBA In UK

Vikas Shrivastava has plans to use his MBA in the UK to further a career in the global healthcare sector or in management consulting.

Wed Dec 10 2014

BusinessBecause
Vikas Shrivastava is studying an MBA in the UK at Lancaster University Management School (LUMS), based in the north of England.

A pharmacist by training, he studied an undergraduate degree in India before moving into the pharmaceutical industry. One of his early roles was in sales at Merck Group, a leading German healthcare group, before he later moved into Johnson & Johnson (J&J), the drugs giant, as a territory manager.

He wants to develop innovative healthcare solutions and an MBA program is his ticket to a career in either management consulting or marketing for a global biotech, medical device or pharma firm.

Why did you decide to begin an MBA?

I always enjoy solving complex business problems and trying innovative solutions.

So after serving six years in pharmaceuticals and then six years in [the] medical devices, capital equipment and biotechnology field, I realized that if I want to move upstream fast in my career I needed to hone my skills in finance, marketing, economics, strategy [and] operations, which are very important for general management. Hence I decided to go for [the] MBA.

What made LUMS stand out as a business school?

My choice was very clear. [LUMS is] amongst the top 100 schools globally, [there is] safe and high quality campus accommodation, a small cohort, [the MBA is] one year duration [with] affordable tuition fees, and finally [it has a] great connection with industry and employers.

What has the academic side of the MBA been like so far?

UK MBA education is very different and intense because one has assignments and exams lined up one after another for the whole year, instead of twice a year as we practice in India. It’s very challenging and intense, but encouraging and supportive as well.

Which project are you most looking forward to – business development, new venture challenge, consultancy, or corporate?

Although all the projects have been planned at a time in the course when we need practical exposure, I am looking forward to the corporate challenge the most because this project will be a summation of all the course concepts – a fitting end to the curriculum.

Do you value your MBA cohort?

Yes, very much. My cohort has students from more than 20 nationalities who have an average work experience of more than seven years, and who come from diverse industry backgrounds such as entrepreneurship, media, consulting, healthcare operations, manufacturing, audit and more.

All this gives me an opportunity to create a network with individuals and alumni from whom I can learn a lot, both during and after the course.

You've worked for J&J. What excites you about the pharma and biotechnology industry?

I am passionate about the way these multinational organizations create value in patients’ lives, one patient at a time but with a high standard of care.

You are a pharmacy graduate. Why did you switch into management-related roles?

I studied pharmacy so I have good knowledge about [the] human body and healthcare world.

Further, I switched because in business management all stakeholders – employee, customer and organization – grow and create value for each other.

Also I love interacting with people, understanding business complexities from them and creating innovative solutions, which is very much aligned with what organizations are looking out for in employees in business management. This creates a win-win situation.

You worked for a biotechnology company. Scientific advances in biotech have raised the prospect of new medical breakthroughs. How important has the sector become to healthcare?

Very [important]. Biotechnology products can create wonders. [For example] perception of sound can be imparted to a hearing impaired individual by a specialized cochlear implant surgery. We are not far off the day when biotech products will be able to offer perception of vision to blind people.

You studied and worked in India. How would you compare the UK's and India's business environments?

Developed countries such as the UK and US and developing countries such as India, Vietnam and China have totally different business challenges.

In developing countries the market access, surgical capacity and product cost are a few of [the] top challenges. In developed countries there is a fairly stabilized business growth rate, tighter regulatory requirements [and] lessening government expenditure – a few of the top challenges.

However, a few things remains common in all parts of the world: healthcare compliance – the way in which companies are expected to market products; marketing programs – physician and patient awareness; quality of trained company sales personnel; and quality of products – most of the biotech, medical devices and surgical equipment organizations have centralized manufacturing capacity in companies’ global headquarters, and the products are then transported to other countries for sales.

What’s next for you after the MBA?

I aim to be working in management consulting, in strategy or marketing, in healthcare or in the marketing function of a global biotechnology, medical device, capital equipment or pharmaceutical company once I complete my MBA.

Student Reviews

Lancaster University Management School

Jesse

Verified

28/09/2018

An exceptional educational establishment in the North West of England.

This university has been a fantastic life experience as well as a great academic one. I first decided to go to Lancaster University Management School due to its exceptional business education facilities and have not been disappointed. I recommend the university to anybody that wants to put themselves in a strong position for a career upon graduation.

Student

Verified

24/11/2022

On Campus

Student Ambassador

Overall, the instruction is decent, however it also depends on your department. The people are friendly, in my opinion. The sporting events are enjoyable, and there is a good sense of community. Although the city is quite remote, it is nonetheless attractive.

Student

Verified

3/08/2020

Lancaster University honest review

The education system in the university is excellent especially that of the Management School. The campus has great facilities for students to study and live in a relaxed manner. The students can engage in various activities through the socities.

Student

Verified

17/06/2020

Great opportunities to think beyond

Lancaster University provides a lot of good opportunities to think beyond.There Entrepreneurship in residence program helps students to meet and seek guidance about entrepreneurship and the challenges.Their Work in progress program help to fabricate your startup idea and further to pitch to the potential investors.Apart from that there are lot of programs like Enactus, guest lectures and guidance from seniors to help and shape your career needs. They provide lot of opportunities to shape up your employability skills.

Student

Verified

9/10/2020

On Campus

A top university in the UK for management science!

If you’re interested in management science studies, Lancaster University is one of the top universities in the UK. The faculty is renowned and have a sterling reputation for research in management science. Candidates specifically interested in Forecasting would find the Centre for Marketing Analytics and Forecasting especially relevant to their field. Besides, the ROI is good as the overall cost compared to other universities is less.

Student

Verified

10/04/2019

Great university for academia – not great for 'entrepreneurs'

Please keep in mind that my review is nuanced by my expectations of an Entrepreneurship degree :) I came to Lancaster University because it was one of the top universities to have a course in Entrepreneurship. After 4 years in this degree, my most valuable experience has been my placement and not the actual course. The course is heavily focused on impractical elements, which is a bit odd for an Entrepreneurship degree. There are some modules that involve hands-on work but the faculty support for such things has not been great. My course also involved a lot of teamwork which has been fantastic and really prepared me when it comes to dealing with the diversity of opinions. In terms of career prospects, the management school does A LOT to host events, workshops and support sessions to help you build up your employability skills. Although, I wish there was more acknowledgement of SMEs/startups as a viable career option. The entrepreneurship team which is meant to support budding businesses is really stepping up their game with tons of guest speakers, workshops and pitching opportunities. The location is a concern if you're not in STEM, Law or Accounting and Finance. Business requires networking with the broader community. However, for Lancaster students, the best bet is a trip down to Manchester or London. On the flip side, living in Lancaster is much cheaper! Overall, if the purpose of your university experience is to receive top academic education and have great facilities at your disposal, Lancaster is a great choice. But if you want to be in business and entrepreneurship, I would look elsewhere.

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