Harvard Business Review

SEPTEMBER 23, 2014

I often hear this question when I visit companies and speak about how to make an innovative idea less terrifying to high level executives. There are plenty of pundits arguing that big companies need to innovate, and pointing out that it is difficult to do so. They overcame short-term thinking. The skepticism is warranted.

Innovation 11

Innovation P&L Short-term Company 11

Harvard Business Review

SEPTEMBER 21, 2018

Corporate directors and executives alike recognize that today’s pace of change continues to accelerate and that firms need to innovate to stay ahead. But are boards doing enough to support innovation, as they should? We found that, overall, innovation does not rank as a top strategic challenge for the majority of boards.

Innovation 10

Innovation Short-term Telecommunications Long-term 10

Strategy Driven

JUNE 22, 2018

With life expectancy typically increasing and medical innovations positively impacting people’s health, for the first time since records began there are more seniors than children under 5 years. You want the decisions you make to support a long-term strategy to achieve your goals, expand your business and accomplish success.

Audience 50

Audience Niche Marketing How To Marketing Strategy 50

Coaching Tip

MARCH 15, 2011

Now I know this may be scant solace to an individual who’s been out of work and looking for a job a long time. Nothing has ever been able to keep it down for long, and nothing ever will, if we are patient and allow our economy the time to heal itself through the virtues of the free-market system. . Deregulation. Entrepreneurship.

Pharmaceuticals 84

Pharmaceuticals Creativity Long-term Power 84

Harvard Business Review

JANUARY 27, 2016

Much fanfare has been paid to the term “disruptive innovation” over the past few years. Christensen has even re-entered the fold clarifying what he means when he uses the term. Disruptive innovations are: Cheaper (from a customer perspective). Is 23andMe potentially disruptive to pharmaceutical companies?

Disruptive Innovation 8

Disruptive Innovation Innovation Short-term Long-term 8

Harvard Business Review

JUNE 29, 2015

And a recent working paper out of the Dusseldorf Institute for Competition Economics ( DICE ), a think tank of sorts, focuses on the latter by exploring whether leveraged buyouts (LBOs) make firms more innovative. PE investors don’t typically invest in firms known for innovation.

LBO 8

LBO Innovation Sample Short-term 8

Harvard Business Review

APRIL 2, 2018

There is an abundance of high-quality comparative effectiveness data for pharmaceuticals, largely because of the drug approval process, but there’s less data on the value of other expensive investments into health, such as doctor visits and hospitalizations.

Health Care 8

Health Care Insurance Pharmaceuticals Incentives 8

Harvard Business Review

DECEMBER 20, 2011

In both instances, the life-cycle management innovation involves using disintermediation to change how the customer interacts with the product. Lipitor's Long Good-bye. Broad expansion of such disintermediation in the pharmaceutical business could, of course, encounter numerous hurdles.

Disintermediation 15

Disintermediation Industry Pharmaceuticals Price 15

Harvard Business Review

OCTOBER 6, 2016

Right now, for example, the hot topic is “digital leadership” — driving organizations to be more innovative, iterative, and collaborative as they develop digital strategies to disrupt or transform their current business. The culture at GE, for example, centers on execution, simplicity, and innovation.

Leadership Pipeline 13

Leadership Pipeline Leadership After Action Review Pharmaceuticals 13

Harvard Business Review

NOVEMBER 27, 2013

Recent events have seen a rash of the departures from large corporates: Steve Ballmer from MicroSoft, Jeremy Levin from Teva Pharmaceutical, and Thorsten Heins from Blackberry. Donald Hambrick, a guru on CEOs and top teams, argues that long-tenured CEOs tend to grow “stale in the saddle”, ceasing to make adaptive changes.

CEO 13

CEO Long-term Welch Pharmaceuticals 13

Harvard Business Review

DECEMBER 14, 2017

Some of the nation’s most innovative, high-performing non-profit health care organizations use this formula. Having done all this, CVS would have to excel at the very challenging task of managing physicians and other health professionals — something that daily confounds even the most experienced, long-time, care-delivery systems.

Health Care 8

Health Care System Insurance Pharmaceuticals 8

Harvard Business Review

APRIL 16, 2012

As long as the CFO can stipulate that the company does not intend to repatriate the cash, it avoids the incremental tax that will be levied due to the territorial system of U.S. high technology or pharmaceutical) that are investing in projects with uncertain long-range payoffs. It can: Save Taxes.

Company 14

Company Cost of Capital Finance Long-term 14

Harvard Business Review

JANUARY 10, 2014

And the long-term trends that have driven corporate restructuring are not going away — globalization, technical change, and ever fiercer competition between firms. The term remix describes the mash-ups of music, images, and words that appear all over the web. IBM’s surveys of top executives have picked up on this trend.

Restructuring 8

Restructuring Trends Long-term Short-term 8

Harvard Business Review

AUGUST 14, 2018

The term “digital firms” refers to those companies that from their inception have focused on digital services enabled by the internet and related technologies, including mobile. ineffective innovation strategies. 5 Principles for Innovation in Emerging Markets. failure to fully embed operations in China.

Competitive Advantage 11

Competitive Advantage Business Model Technology Marketing 11

Harvard Business Review

SEPTEMBER 26, 2011

The stock market is short-term-oriented. Furthermore, these actions are taken seemingly without regard to the consequences for the community, the employees, the survival of the company as an institution, or the creation of long-term firm value. Yes, those actions would have boosted short-term earnings. I disagree.

CEO 15

CEO Short-term Long-term Restructuring 15

Harvard Business Review

NOVEMBER 30, 2017

A few outlier industries (notably pharmaceuticals, medical devices, and computers) prop up the sector’s aggregate performance; most others have experienced flat growth or outright declines in real GDP over the past two decades. Any long-term, strategic vision for making U.S. But the challenge is bigger than that.

Supply Chain 8

Supply Chain McKinsey Incentives Bottom-up 8

Harvard Business Review

MAY 7, 2015

Here’s a conundrum: On the one hand, there’s a consensus among thoughtful business leaders that too many companies are sacrificing long-term growth on the altar of smooth, reliable short-term earnings. HBR: What got you interested in what impact short-term earnings management has on long-term performance?

Short-term 8

Short-term Henderson Long-term Metrics 8

Harvard Business Review

JANUARY 31, 2013

Second, we see a raft of innovations that will alter how products are designed, manufactured and sold — everything from nanotechnologies to 3D printing. Then, manufacturing's most important role is as a driver of innovation, trade, and productivity. Innovations Are Changing The Way We Design Products. Demand is Shifting.

Globalization 9

Globalization Supply Chain Pharmaceuticals McKinsey 9

Harvard Business Review

JULY 16, 2013

Consider the pharmaceutical industry, the focus of a recent global survey my colleagues and I conducted. We asked nearly 200 life sciences executives about long-term trends that posed fundamental threats to their businesses and how management was dealing with them. Competition Disruptive innovation Strategic planning'

Industry 8

Industry Pharmaceuticals Disruptive Innovation Strategic Planning 8

Harvard Business Review

OCTOBER 22, 2013

Innovation starts with new and novel ideas. When we surveyed over 300 global executives between 2008 and 2009, one of the primary concerns they expressed was their inability to compete long term without a solid innovation engine that can grow their top line. Finding ideas is never the problem — initially. Find Pivots.

Skills 8

Skills Power Six Sigma Disruptive Innovation 8

Harvard Business Review

MARCH 6, 2012

Technological innovation accounted for almost half of U.S. economic growth over the past 50 years, but the country's standing as the world's indisputable innovation leader is now at risk. At Merck, as part of our commitment to scientific innovation, we are working to foster the next generation of scientific leaders.

Education 12

Education Creativity How To Pharmaceuticals 12

Harvard Business Review

OCTOBER 24, 2017

Lobbying for policy reform isn’t much of an answer, because incumbents generally have the benefit of long-term relationships with government agencies built up over many years. In late 2015, a San Francisco ballot initative proposed new restrictions on short-term rentals. Partner organizations.

Licensing 10

Licensing Proposal Retail Long-term 10

Harvard Business Review

MAY 16, 2011

But most true collaborations cannot be controlled with fixed terms that are defined in advance — they must be managed through relational contracts that allow you to respond flexibly to new information. Sun did briefly maintain an arrangement that it termed an "alliance," one of the few times it used that term publicly.

Software 15

Software Licensing Long-term Telecommunications 15

Harvard Business Review

JUNE 23, 2016

A global pharmaceutical company was about to lose the strategic advantage of several blockbuster drugs coming off patent. Lastly, this group may be more attuned to individual interests (including performance metrics and compensation incentives) rather than the collective and longer-term needs of the firm. paul Garbett for HBR.

Leadership 10

Leadership Diversity Committee Long-term 10

Harvard Business Review

APRIL 22, 2013

Most of us think of biotech as the province of multinational pharmaceutical corporations and well-funded ventures, but the founders of BioCurious believe (as they say in their mission statement) "that innovations in biology should be accessible, affordable, and open to everyone." But don''t let that loss of control frighten you.

Mission Statement 9

Mission Statement Class Learning-by-Doing Pharmaceuticals 9

Harvard Business Review

JANUARY 15, 2013

By inextricably linking the two, we confine the practice of real, turbo-charged capitalism to business, and we dangerously limit the capacity of non-business organizations to innovate, fund, and bring to scale the kind of breakthrough ideas that will begin to solve the huge social problems we face today. This we do in the name of frugality.

Learning Curve 9

Learning Curve Advertising GDP Pharmaceuticals 9

Harvard Business Review

FEBRUARY 4, 2013

Our research with members of the global C-suite, and with leading sustainability and innovation experts, has identified seven vectors of breakthrough change. Perhaps surprisingly, two leading examples come from pharmaceutical companies. Governments, investors and the social innovation sector should support them to the hilt.

EPS 8

EPS Innovation CEO Pharmaceuticals 8

Harvard Business Review

APRIL 24, 2017

Because the long-term horizon and trade-offs required to develop scalable responses to pandemic threats are exactly the type of problem too big to be solved by any one sector. We believe an important first step in this effort is for the U.S. Why should the public sector lead the way? Science/technology community.

Project 9

Project Disaggregation Globalization Comparison 9

Harvard Business Review

MAY 18, 2015

For example, the pharmaceutical giant Novartis is undertaking efforts to not only focus on the legal side of compliance, but also to identify the (behavioral) root causes of non-compliance. Slowly, companies seem to be learning that awareness is a better long-term strategy than compliance.

Compliance 8

Compliance Company Self-aware Ethics 8

Harvard Business Review

OCTOBER 13, 2014

When pharmaceutical companies conduct clinical trials to test the safety and efficacy of their drugs as part of the process for obtaining regulatory approval, some patients receive the drug and others some standard existing treatment or a sugar pill (placebo). The change is a success, right? Maybe or maybe not.

Flextime 11

Flextime Call Center Human Resources CRM 11

Harvard Business Review

SEPTEMBER 4, 2015

Innovation is widely regarded as important to long-term business performance. We’ve found that CEOs of big pharmaceutical companies, for example, are more likely to have a background as company lawyers, salespeople, or finance managers, than one in medicine or pharmaceutical R&D.

CEO 8

CEO Innovation Pharmaceuticals Merchandising 8

Harvard Business Review

APRIL 19, 2016

has been an innovation superpower. Take a look at any significant innovation, such as an iPhone , and you’ll find that most, if not all, of the technology came from some government program. In the pharmaceutical industry, the monitoring process can be incredibly elaborate. vincent tsui FOR HBR. Since World War II, the U.S.

Innovation 8

Innovation Company Competitive Advantage Venture Funding 8

Harvard Business Review

NOVEMBER 28, 2017

Making them think about profit in the long run had little effect. Doing so entails operating more efficiently or innovating to create products that consumers value more. Touting profitability may impress investors who understand it as an indication of efficiency and innovation in the face of adversity.

Company 8

Company Short-term Long-term Price 8

Harvard Business Review

NOVEMBER 20, 2015

But let’s change what we’re asking: Which has the better potential to scale up and create long term value for customers, owners, investors, and employees? Manage the arduously long sales cycle. No doubt the tech startup wins the popularity contest hands down. Manage culture by setting expectations appropriately.

Supply Chain 8

Supply Chain Collins Golden Handcuff Pharmaceuticals 8

Harvard Business Review

NOVEMBER 12, 2018

With dozens of other genetically engineered therapies moving through clinical trials, the long-promised era of personalized, gene-based medicine seemed to be at hand. Our research on major innovations finds that when disruption occurs, technologies don’t replace technologies; systems replace systems. Something has got to give.

Business Model 10

Business Model Insurance Cost Bond 10

Harvard Business Review

NOVEMBER 2, 2018

Workers’ increasing out-of-pocket costs are creating widespread discontent with the underlying costs of care — a problem largely driven by the high prices charged to private payers for health services and pharmaceuticals. Data from the Commonwealth Fund’s biennial survey of the American public shows that the percent of U.S.

Health Care 8

Health Care Cost Insurance Price 8

Harvard Business Review

MAY 10, 2013

Such a pattern is well established in the pharmaceutical industry as large established firms partner with smaller biotech firms. As Dell''s public statements have pronounced, these changes will reduce near-term profitability, raise operating and capital expenditures and involve a lot of risk. So we are left with a quandary.

Venture Capitalist 8

Venture Capitalist Restructuring Competitive Advantage Short-term 8