EyeOn Pharmaceuticals: Research and Development and Accounting Process

MANAGEMENT
ACCOUNTING

EyeOn
Introduction
EyeOn pharmaceuticals stress upon the segment of ophthalmology and develop, manufacture
and sell a variety of products. The variety of project is mainly linked to the diagnosis and
treatment of defects that are linked to eyes. The company markets both prescription, as well
as nonprescription drugs that can be used in ophthalmic surgery. The company utilizes a
traditional system of the product line (Brebbia, 2013). Over the years it has attained
commendable results and the strong management helps the company to build and strengthen
the position.
Answer 1
Research and development is the major element in the business of EyeOn’s. Since EyeOn is
mainly engaged in the pharmacy sector it is imperative that the company can expand when it
comes up with new products of pharma. The success factors lie in the fact that the company
needs to come up with new and varied products that have immense utility (Merchant &
Vander, 2011). The results even depend on the research, the utilization of resources and the
budget set aside for the work. Moreover, the control of resources is an important
consideration that will lead to the future of the products at EyeOn’s pharmaceuticals. It is
important to understand the concept that the companies that have launches that outperform
every time are able to get accustomed to the market with ease and flexibility (Kehoe & Ruhl,
2013). Moreover, post-launch data and services can enhance the services and ensure solidity
when it comes to competition.
The strategy for the success of EyeOn is owing to a well-settled management system that
helps to manage the R&D effort. It is one of the key factors that have helped the organization
in attaining a favorable position. The setting up of plan together with project objectives
enables the R&D to set up a budget in an effective manner. (Simon & Hillson, 2012) The
EyeOn directors constantly interact with the team that helps to have a proper understanding
of the market and its trends. The team helps in eliminating any gaps present in the pipeline
and hence, able to enhance the effectiveness of the launch.
Answer 2
2