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... Definition of Topic
Ecogen began with a few university professors backed by investors who shared Ecogen’s vision of providing biologically safe pesticides for today’s agricultural farmers. Based in Langhorne, PA, Ecogen grew readily during the market driven biotech boom of the late 80’s, however they would only this taste sweet success for a few years. After the founding president left another executive joined the Ecogen team, and despite a short spurt in profitability, numerous mistakes and short-sightedness led Ecogen to chapter 11. ... Case Illustration
When Ecogen started, they found a president from a larger agricultural firm and convinced him to lead this new bio-tech startup. ... The President focused much of his and Ecogen’s time on the research and development of a solid product line. During this time Ecogen was well run and managed, however past the short term goals of bio-pesticide development there were no concrete long term goals, which as we will see becomes the bane of their existence. ... After interviewing a few potential candidates Ecogen chose Jim Reilly, a polished executive who would hopefully bring Ecogen into the bio-tech limelight. ... The lack of a long term business strategy which had been hindering Ecogen’s advance into the public domain had still not been addressed. ... Ecogen did continue to receive generous funding from Monsanto for some time, this locked many other grants for Ecogen. What Reilly failed to realize was that this put Ecogen into a corner that would only get deeper without profitable products.
The problem was not Ecogen’s product line, all of their products were on the cutting edge of genetic and bacterial bio-pesticides, however the manufacturing costs for many of the products were much too high leaving no profit margin. Without a profit margin, Ecogen’s grant money started to dry up fast, when this started to happen Reilly looked for other opportunities for Ecogen, he bought a soil supplement technology that helped farmers using irrigation attain greater yields, however there were multiple licenses, and the manufacturing had to be outsourced, which led to minimal profit. On top of that, Reilly failed to do accurate market analysis and there is a very small margin for irrigation enhancers in the U.
Approximate Word count = 1838
Approximate Pages = 7.4
(250 words per page double spaced)
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