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Chief Strategy Officer, Issue 22

Where we ask where the line between profit and humanity is for pharma companies

5Oct

As we step into the fourth quarter of 2016, it’s time to start thinking about the strategic lessons we have learned so far and get prepared for the next year. Economic uncertainties and the disruptive nature of the market have seen companies face challenges to their ability to grow, so more of them are considering methods for faster strategy execution.

One of the ways to accelerate processes and make a company reactive to changes in the market is to infuse business units with agility, where adaptability, flexibility, and balance can shape the phenomenon. Applying agility within corporate environments can bring greater levels of productivity and motivation within a company and, eventually, contribute to faster execution. The term has become a buzzword throughout the corporate corridors, but not everyone knows how to apply it to all business units. Allie Laurent looks at the problem in this issue and suggests ways of incorporating agility into the corporate strategy.

Agility, however, is not the only factor that can accelerate strategy execution. The way the business strategy is planned indicates in what direction the company will go and at what speed. The more thorough the planning is, the fewer chances a company has to face problems which can slow down processes. Problems are inevitable and happen to all companies at some point on their business journey, so it’s critical to know how to deal with them in advance. Afolabi Opedare suggests that processes of strategic planning can act as a shield and guidance - something a company needs in times of turbulence.

Strategic execution almost always involves a change. So across all levels - from the C-suite to the rest of the teams - all business units have to be open to accepting new ideas and agendas, and they have to be prepared to manage them. In today’s business environment, there is no excuse for a strategy to be developed slowly and in a vacuum.

As always, if you have any comments or would like to submit an article, please don’t hesitate to contact me at anastasia@theiegroup.com

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