Meeting 11-16 - b Break even and sales figures c Looking at...

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BioSport Questions: 1) Should your literature comment on life insurance in general and/or how your product might help get a better rate on life policy and/or viatical sales? - Literature= advertising - Would a life insurance company consider diets or nutrition when determining life expectancy? - How easy is it to get a doctor to sign for your physical or do insurance companies work with doctors? - TotallyBuff has to be FDA approved but Peak Performance does not require it - Lower BMI does reduce life insurance policies 2) What lessons are to be learned by BioSport from this scenario? How will you implement your lessons in your operations? Be as broad as possible Each person can also talk about the issue of competing departments and also relate to topics on working for the best for the company (i.e. director of division one only getting compensation for division one sales) - CEO a. All divisions need to be on the same page b. Mitigate risks (legal issues, healthy products) - CFO a. Need to have appropriate compensation strategies
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Unformatted text preview: b. Break even and sales figures c. Looking at cost of research compared to chances of being passed by FDA d. Auditors should monitor competing products e. Plan for IPO if we were to go public-Marketing a. Pricing of the products- compare to NeverFail 50-60 cents on the dollar (competitive price) b. Ethics of advertisements c. Common theme of advertisements (not competing with other products) d. Target age groups e. Public Relations f. Lobby with the FDA or Government-HR a. All products have the same system of management b. Hiring external parties c. Compensation d. Hire employees with proper qualifications-Operations and Research a. TotallyBuff is a unique product compared to Peak Performance b. Need to get TotallyBuff FDA approve (legal) c. Ethical research d. Meeting the supply and demand e. Determining how time and supplies are allotted to each product 3) What will you tell Board of Directors about your ethical practices in product development?...
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