As technological advances and competition in the pharmaceutical ecosystem accelerate, it is vital for companies to stay at the cutting edge. The leading pharmaceutical companies focus, move fast and move together. They embrace strategic and operational excellence.
Why is strategic and operational excellence important?
Pharmaceutical and biotech companies must optimise the effectiveness of the multiple value-driving functions that are required to successfully discover, develop, and commercialise products. These functions each have highly specific expertise, often geographically dispersed. Such expertise is only valuable when it is applied to benefit the strategic focus of the company. Teams must also work cross-functionally and optimise interfaces throughout the organisation and with external stakeholders. This alignment and integration of expertise is at the core of strategic and operational excellence. It is fundamental for pharmaceutical and biotech companies to meet patients’ needs.
The imperatives you need to focus on
Embedding strategic and operational excellence in a functional team or organisation requires an integration of five imperatives:
- A strategic focus to clarify the priorities and effectively communicate how the organisation delivers value and meets the needs of its stakeholders.
- Structure and roles to ensure people and teams actively contribute to achieving the strategy, including how they work collaboratively and interface with each other.
- Governance and processes to enable effective decision-making and ensure strategically important initiatives progress.
- Capabilities and infrastructure to deliver defined priorities, including clear decisions on which capabilities to develop internally and which to outsource.
- A culture that is constructive and celebrates the behaviours and mindset that will set the organisation up for success.
Our latest white paper explores these topics in more detail, and provides case study insights and advice on how you can embed excellence in your organisation.
Download your free copy of the Strategic and Operational Excellence white paper via the button above.