After analyzing the progression of 5,000 ideas, researchers identified a few operational decisions that collectively paid off more than tenfold.
According to a Standard and Poor’s report from last June, only two out of all 2,682 actively managed mutual funds in the United States beat the market for five successive years.
Sometimes prescription drugs already on the market are shown, after further study, to pose significant risk of serious or life-threatening adverse effects. In the United States, regulators slap prominent warnings on the labels of these drugs.
Operations management experts are developing a model for clinical trials that could speed up research, save money, get better treatments to patients, and save lives.