Leading from the top
Disruption, our experts say in this month’s cover article, is required for the industry to move forward, particularly in light of multiple industry forces. Bernard Munos, senior fellow at FasterCures, Milken Institute, doesn’t like to use the word disruption, because it scares people; he prefers the word transformation in describing the changes taking place in the industry.
Mr. Munos believes disruption is happening because the industry’s business model has aged to the point where resources — time and money — are being squandered in vast amounts. Chris Cullmann, senior VP, Engagement Strategy, Ogilvy CommonHealth Worldwide, notes that disruption is a loaded term — one that carries with it a lot of cultural baggage. He says to truly call something disruptive requires that it cannot be “unseen." It needs to be a change of such significance, that to turn back is not a practical consideration and that going forward, people can use this disruption. We tapped a dozen other industry experts to get their insights on how they define disruption and what it will take to fuel innovation going forward.
A new survey from McKinsey suggests that for companies to successfully transform, organizations need employee buy-in at all levels, consistent communication, and better people strategies.
Organizational transformations are hard work, and according to the latest McKinsey Global Survey on the topic, companies are no more successful at overhauling their performance and organizational health than they were 10 years ago. A particular blind spot seems to be the failure to involve front-line employees and their managers in the effort.
Craig Lipset, head of clinical innovation, global product development, Pfizer, says his company has invested significantly in making sure that it has the right clinicians, technologists, and engineers to execute around its innovative platforms, such as Blue Sky. He says bringing the right talent together created more diverse teams in terms of new skills, roles, and thinking.
In response to some of the challenges that the McKinsey survey results revealed, here are a few steps that companies can take to support the success of their transformations:
• Show — don’t tell — progress to the front line. When large companies embark on a transformation, there is a risk that front-line employees will see only the individual pain and not the aggregate gain.
• Involve HR as a strategic partner. Transformations have a significant impact on employees and therefore require active involvement from human resources.
• Engage employees through new channels. The survey results suggest that reaching the front line is a greater-than-average challenge at larger companies.
Let us know how your company is addressing transformation; shoot me an email: [email protected].
Taren Grom, Editor
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Their word…
Denise Myshko
Managing Editor
Pharmaceutical companies are adopting innovative clinical trial designs as a way to increase efficiency and reduce costs.
Robin Robinson
Senior Editor
As the life-sciences industry embraces disruptive technology, it will find more opportunity to streamline all processes.
Kim Ribbink
Features Editor
Any marketing initiative in rare diseases must put the patients and their caregivers front and center.
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Coming in April 2017 special issue
A New Era of Collaboration
• Trends
• Success Factors
• Key Learnings
• Opportunities
• Partnerships
Showcase Feature: Global Markets
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Masthead
Volume 17 • Number 3
Publisher Lisa Banket
Editor Taren Grom
Creative Director Marah Walsh
Managing Editor
Denise Myshko
Senior Editor
Robin Robinson
Features Editor
Kim Ribbink
Design Associate
Ariel Medel
Director of Sales
Cathy Tracy
National Account Manager
Suzanne Besse
Webcast Network Producer
Daniel Limbach
Circulation Assistant
Kathy Deiuliis
Copyright 2017
by PharmaLinx LLC, Titusville, NJ
Printed in the U.S.A.
Volume Seventeen, Number Three
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