Operations

Embracing a Borderless Future: Remote Business Operations in Biotechnology

By Fahad Khan

Biotech is shifting to remote business operations like other vital industries. Read on to know the advantages, challenges, and top solutions.

Biotechnology combines biology, computer science, and engineering. It creates products or services with this knowledge. Biotech companies use biological systems to produce food, fuel, drugs, weapons, etc.

This research-intensive sector has helped the world fight COVID by producing impactful vaccines. But right after COVID, the industry drastically changed, shifting to remote work.

Read on to learn how remote business operations function in the biotech sector. Know the advantages, challenges, and top solutions for a successful remote set-up.

What is Business Operations in the Biotechnology Sector?

Biotech business operations are systems that help start, research, and finish a project.  

A well-established business operation helps biotech companies manage several projects at once. Be it a start-up or large-scale company, a good business operation strategy can help –  

Improve employee productivity 
Streamline production processes to reduce individual/team workloads
Optimise resources to produce cost-effective products/services
Create a space for operational innovation to help teams explore new fields

What are the Top 3 Types of Business Operations in the Biotech Sector?

The types of business operations belong to these three categories:

Production Operation 

This department of biotech business operations deals with vital production processes.

For example:

A project on developing sustainable products to prevent water leakage.
Launching the COVID-19 vaccine.

The production team would ideate, research, experiment, analyse, and deploy the project.  

Marketing Operation 

The marketing department handles promoting the product. They analyse target audience data to create a marketing strategy. This enables the product to reach the right prospects.   

The team can utilise online marketing avenues to enhance product awareness and visibility. They can collaborate with influential figures and use their feedback to gain trust.     

Finance Operation 

The finance operations involve managing financial resources and raising capital for projects. Some of their financing options are-

Grants from governmental institutions
Private investment from larger firms 
Investments from CEOs or industry leaders

The Advantages of Remote Business Operations in the Biotechnology Sector

Remote working has its own set of advantages and challenges. It depends on the specific business whether their advantages outweigh the challenges.

Here are a few advantages of remote business operations in the biotech sector. 

Relaxed Home Environment Leading to Better Productivity 

A productive employee can help a business grow by manifolds. But, biotech has complex and straining work schedules. So, ensuring employee productivity can be tricky.

With remote work, employees are 47% more productive. This helps them meet their goals.

Helps Companies and Employees save Resources  

The employees save on transportation costs through remote business operations. Moreover, businesses save on office expenses like electricity and technical infrastructure.

The employees also save on other costs like buying work clothes and meals outside the home. 

Flexible Working Hours Lead to Better Work Output 

Not everyone is productive all the time. Requiring employees to work on a set schedule can make them unproductive/uninterested.

Employees can work as per their schedule with flexible working hours. This will help them do more and help businesses grow. 

Access to a Global Pool of Talent 

The most useful aspect of a remote business operation is access to a global talent pool. Biotech companies can hire industry experts for their projects without any hassle.

Plus, they can schedule meetings with stakeholders worldwide. This will help them make impactful products.  

Challenges of Remote Business Operations in the Biotechnology Sector

Along with the advantages, the biotech industry also faces a few challenges. These can impact their projects and business. The top challenges are-

The Constant Threat of Data Leakage 

Biotech companies deal with sensitive information and data like –

Patient information for clinical trials
Results of a new drug test
Production process data of products of national interest 
Economic and marketing information about drug launches

Biotech companies find it hard to secure these sensitive data records. This is especially true for remote setups.

Data breaches can damage the organisational image and cause financial losses. Also, this patient data loss can hamper the target audience’s trust.

Employees Isolation Affecting Professional Development 

In an offline setup, employees talk in the hallway, parking lot, elevator, and offices. They can seek advice from their superiors. This helps them learn.

But, when working remotely, people can feel disconnected and isolated from other employees. This can affect the quality of their work and professional development. 

Further, remote employees will need to contact superiors for immediate guidance. Then, they would have to schedule a call and wait for them to join to ask a small question. It’s a lengthy process that sometimes forces employees to avoid it altogether.

So, it prevents them from operating efficiently and causes communication issues.

Ensuring Network Security 

Companies must ensure that employee devices are secure. This is important in data-sensitive industries like biotech. It prevents data exploitation from user devices, like laptops, mobiles, and computers.

In an office setup, antivirus software and network firewalls protect devices. However, installing these on individual devices can become complicated in remote operations.   

Conclusion

Post the pandemic, hybrid and remote business operations have become prevalent across industries. Yet, shifting a biotech business to a remote set-up has a range of challenges.

While it gives access to global experts, it also increases the chances of data breaches. This can impact an entire project. In such a situation, finding the right balance is key. But how do you go about it?

Contact Growth Jockey to get tailored solutions from industry experts! We provide guidance and expertise, from securing funding to implementing production strategies.

Unlock growth potential and opportunities in the biotech sector! 

FAQs

1. How can biotech businesses ensure growth in remote business operations? 

Biotech businesses can ensure growth in remote business operations by

Leveraging productivity tools for enhanced productivity and collaboration across global teams.
Using AI, AR, and VR tools to get clarity on projects.
Organising team building activities like regular meetings to reduce isolation and increase productivity.

2. Can remote business operations in the biotech sector lead to work-life balance? 

The biotech industry poses demanding work. But, with remote business, employees save time on travel. Additionally, some businesses also offer flexible hours. This makes it easier to achieve work-life balance.

3. Can the biotech industry shift to a completely remote set-up?

The industry has excessive lab experiments. Because of this, shifting to a complete remote setup is difficult. 

Even with AR and VR, employees still have to visit their offices. This improves collaboration and the completion of projects. However, they can remotely research and create analysis reports.

Thus, a hybrid work model can help biotech businesses grow.