Shifting focus and making sustainable changes for the future
The life sciences sector is changing fast. It is maturing, moving away from a product-centric environment to a business-to-business model in which establishing deep client relationships is critical. It’s a complex new world in which firms are focusing more on value-added solutions rather than just product sales. Faced with these changes, many firms are investing a lot in structural and operating model change initiatives that are failing to deliver results. Businesses not only need to consider the goals they want to achieve, but also how the organization is going to transform in order to reach those results.
- Along with striving to be less product-centric and more customer-focused, businesses need to determine:
- What changes to management processes, metrics, rewards and development will be required to turn the ship and sustain it on the new course?
- How quickly can the necessary changes be made – and still be effective and sustainable?
- What talent is needed?
Hay Group helps firms shift from a functional and product-based focus to a project and process-based model, enabling our clients with the tools needed to compete in the next generation of life science companies.
We have worked with pharmaceutical and life sciences companies in all stages of development – from pre-commercial and pre-IPO through to fully integrated firms. We have supported the world’s leading life sciences and pharmaceutical companies, including AstraZeneca, Novartis and Pfizer, helping them to:
- increase sales force effectiveness
- apply innovation and design best practices to run more effective clinical trials
- enable employees at all levels of a highly-matrixed organization to understand their roles
- operate more efficiently
- develop the leaders required to steer their companies through volatile changes
- design global incentive plans for R&D that rewards people for not just hitting milestones, but for pushing the right drugs further down the pipeline.
Read our case studies for more insight into our work with pharmaceutical and life sciences companies.
For more information, please contact Ian Wilcox, global director, life sciences consulting.
Supporting documents
Hay Group authored articles
Click here to read our article published in the January 2013 isue of Life Science Leader, Enhancing Your Ability To Innovate: A Pharma M&A Playbook.
Click here to read our article published in the November 2012 issue of Pharmaceutical Compliance Monitor, Dangerous Liaisons: How to keep Intangible Assets from becoming M&A Liabilities.
Click here to read our article published in the July 2012 issue of Pharmaceutical Compliance Monitor, Creating an Ethical Culture: A CEO’s Checklist.
Click here to read our article published in the March 2012 issue of Life Sciences Leader, What's eating big Pharma Innovators?
Click here to read our article published in the February 2012 issue of Pharmaceutical Executive, Sales Force Survey: Still too much business as usual?
Click here to read our article published in the June 2011 issue of Life Science Leader, Leadership: The Critical Element in Mid-Cap Growth.
Click here to read our article published in the March 2011 issue of Pharmaceutical Executive, Creating Customer Value: New Horizons on the Managed Markets Journey.
Click here to read our article published in the November 2011 issue of Pharmaceutical Executive, Leadership: The Neglected Competitive Asset.
