Where do you want to be? Defining a Mission and Setting Goals in the PSM environment.

1. Where do you want to be? Defining a Mission and Setting Goals in the PSM environment. Brandon J. Price, Ph.D. Falcon Ridge Associates, San Juan Cosalá, Jalisco, México Virginia Commonwealth University – PSM Program in Bioinformatics Richmond, VA USA 4th NPSMA National Conference November 14th, 2013 – Arlington, VA

2. If you don’t know where you are going, you are certain to end up somewhere else. Yogi Berra

3. Knowing where you are going - a 3-Step Process Defining a Mission Statement Led by the External Advisory Board Doing a SWOT Analysis Setting & Measuring Goals

4. Step 1 - The Mission Statement At the very least, your mission statement should answer three key questions: What are the opportunities or needs that we exist to address?(the purpose of the organization) What are we doing to address these needs?(the business of the organization) What principles or beliefs guide our work?(the values of the organization)

5. The Mission Statement Google’s mission is to organize the world’s information and make it universally accessible and useful. Pfizer’s mission is to apply science and our global resources to improve health and well-being at every stage of life. NIH’s mission is to seek fundamental knowledge about the nature and behavior of living systems and the application of that knowledge to enhance health, lengthen life, and reduce illness and disability. The mission of the National Professional Science Master’s Association (NPSMA) is to promote and support the growth and development of professional science master’s degree programs.   The Business The Purpose The Values

6. The Mission Statement PEMEX’s mission is to maximize the value of Mexico's hydrocarbon reserves, while developing the infrastructure necessary to guarantee the supply of petroleum products throughout the country. The purpose: “maximize the value of Mexico’s hydrocarbon reserves” The business: “supply of petroleum products” The values: “guarantee the supply of petroleum products throughout the country”

7. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM program in the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors.

8. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM program in the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors. The Business The Purpose The Values

9. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM programin the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors. The Business The Purpose The Values

10. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM programin the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors. The Business The Purpose The Values

11. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM programin the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors. The Business The Purpose The Values

12. The Mission Statement (VCU PSM in Bioinformatics) The Professional Science Masters (PSM) program in bioinformatics at VCU will be the premier bioinformatics PSM programin the United States, training graduates for leadership roles in biotechnology, biomedicine and other sectors of the life sciences by imparting interdisciplinary knowledge, skills and experience in the biological, quantitative and information sciences, and engaging students in the practices of business and entrepreneurship in collaboration with the commercial and public bioscience sectors. Vision!

13. Step 2 - SWOT Analysis Internal Weaknesses Strengths Positive Negative Opportunities Threats External

14. SWOT Analysis – “Internal” • Strong technology base and rigorous science at VCU • Demonstratably better salaries than “competitive” fields (e.g., biology) • Employment/placement rate of 100% • Relative lack of name recognition for VCU • Lack of knowledge of what bioinformatics is • Fewer local internships in Richmond than Northern Virginia

15. SWOT Analysis – “External” • Rise of biotechnology in Richmond, Virginia and the mid-Atlantic region • Large pool of biology undergrads at VCU and regional universities • Revolution in genomics, personalized medicine, and omics-driven research • Budget constraints at VCU • “Local” competition for students, notably GMU and VaTech • Significant investments by significant competitors

16. SWOT Analysis – Some Simple Rules • Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis • SWOT analysis should distinguish between where your organization is today, and where it could be in the future. • SWOT should always be specific … avoid grey areas. • Always apply SWOT in relation to your competition; i.e., better than or worse • Keep your SWOT short and simple. Avoid complexity and over analysis • SWOT is likely more subjective than quantitative

17. Step 3 - Defining Objectives and Setting Goals Vision & Mission SWOT Strategies  Alternate means for achieving goals Tactics  Execution of a strategy

18. Create a Mission Statement Establish Objectives Set Goals Develop Strategies Develop Tactics Execute on Tactics A Roadmap is Important … Set the Vision

19. …. but it is not the actual road Set the vision

20. …. but it is not the actual road Set the Vision

21. Thank you for your attention bprice@falconridgeassociates.com