Building Partnerships

Marshall Goldsmith

Internal partnerships include direct reports, co-workers and managers. Managers of knowledge workers – people who know more about what they are doing than their mangers must be good partners. Partnering with managers. The changing role of leadership will mean that the relationship between managers and direct reports will have to change in both directions. Many leaders will be operating more like the managing director of a consulting firm.

Talent Management: Boards Give Their Companies an "F"

Harvard Business Review

Not innovation, risk management, technology, debt, or the regulatory environment. Corporate directors identified talent management as their single greatest strategic challenge. One hopeful sign is that boards are becoming more interested in talent management. Talent management

New Research: What Sets Effective Middle Managers Apart

Harvard Business Review

Over the past 20 years, no group has endured greater pain and humiliation within organizations than mid-level managers (MLMs — managers from two levels below the CEO down to the line managers). Leadership development Leadership transitions Managing people

The Escalating Cost of Software Malice

Harvard Business Review

The most recent data comes from a 2013 study by the Ponemon Institute and Symantec of 277 companies that experienced losses or thefts of protected personal data. IT management

New Research: Where the Talent Wars Are Hottest

Harvard Business Review

Our research found they are one of the regions struggling most to establish great talent management practices, among them hiring, assessing, rewarding, and firing talent. If, in addition, companies are managing their underperformers out poorly, the costs rise even further.

Make Your Innovative Idea Seem Less Terrifying

Harvard Business Review

By 2013, we had honored Jack Dorsey of Twitter, Garrett Camp of Uber, famed choreographer Twyla Tharp, and Gangnam style pop artist Psy. Celine Schillinger sought to change the leadership landscape of Sanofi, a major pharmaceutical company.

Make Your Knowledge Workers More Productive

Harvard Business Review

With scarcely any help from management, knowledge workers can increase their productivity by 20%. Yet here is the challenge you face as a senior executive: You cannot manage your knowledge workers in the traditional and intrusive way you might have done with manual workers.

Four Suggestions as You Face Your Industry's Steamroller

Harvard Business Review

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.

To Understand Consumer Data, Think Like an Anthropologist

Harvard Business Review

Despite years of consumer research, the pharmaceutical firm hadn’t known about the staining problem. Corporate social-listening efforts are typically driven by econometricians, computer scientists, and IT technicians—the people who are expert in database management.

Joining Boards: It's Not Just Who You Know That Matters

Harvard Business Review

And 43% cited technology expertise, HR-talent management, international-global expertise, and succession planning as the skills missing most on their boards. The region with the greatest board-level skills gap is Asia, where risk management and M&A adeptness are sorely needed.

Why Are Some Sectors (Ahem, Finance) So Scandal-Plagued?

Harvard Business Review

initiative — prohibitions against off-label marketing under the False Claims Act — swept through the pharmaceutical industry. Ethics Leadership Risk management LIBOR

Leading in Complex Times

Harvard Business Review

I found myself reflecting on this recently while speaking with two business leaders in one of the world’s great pharmaceutical companies. The conversation turned to the growing complexity of the business environment, and the question was inevitably posed: What had I, as a business professor, managed to figure out about what it takes to succeed under such conditions? For more on the theme of the event, Managing Complexity, and information on how to attend, see the Forum’s website.

It’s Time for Episode-Based Health Care Spending

Harvard Business Review

And because it focuses on acute episodes, REBP acts as a necessary complement to payment and care-delivery models designed to improve prevention and chronic-care management. pharmaceuticals, physical therapy, skilled nursing facility care).

How Corporate Venture Capital Helps Firms Explore New Territory

Harvard Business Review

In the 1990s and 2000s, for example, several corporate-venture initiatives helped pharmaceutical companies catch up with rapid advances in bioscience that were threatening to undermine the value of their well-established expertise.

Who's Really Responsible for P&G's Succession Problems?

Harvard Business Review

What kind of signal did this choice send to P&G''s top managers? Is the problem that P&G produces outstanding specialists in marketing but not general managers who can run the business? We now see they are also struggling to do a good job managing their own talent responsibilities.

Extreme Focus and the Success of Germany's Mittelstand

Harvard Business Review

Due to the simplicity of their product lines, their organizations avoid complexities and intricate structures, resulting in very lean management hierarchies. Quick test: name one company that does one thing and does it very well.

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Parting Ways with Public Trading

Harvard Business Review

As noted management expert Geoffrey Moore told me with respect to high-velocity competition, "I''m not sure you ever want to be in the public markets." Such a pattern is well established in the pharmaceutical industry as large established firms partner with smaller biotech firms.

Get Ready for the New Era of Global Manufacturing

Harvard Business Review

Pharmaceutical companies are mastering bio-engineering techniques that will help develop personalized medicines. Advanced economies, for example, depend more on high-skill talent to support what we call "global innovation for local markets" in industries such as pharmaceuticals and autos.

Business Needs to Do What Government Can't

Harvard Business Review

Perhaps surprisingly, two leading examples come from pharmaceutical companies. We're moving towards innovation in technology, pricing, business models and partnerships," explains head of corporate responsibility management, Dorje Mundle, of the company's base-of-the-pyramid operations.

The Dangers of Denial

Harvard Business Review

Six months later the corporate HR manager visited these mines to help with the transition and was surprised to learn that the planning hadn’t even begun. The executive team of a pharmaceutical company knew well in advance that it was facing the loss of patent exclusivity for a particular drug, which would significantly reduce sales revenue in the coming year. Leadership Managing people Organizational culture Great leaders tell it like it is.

Scaling: The Problem of More

Harvard Business Review

We studied how Wyeth, the large Pharmaceutical firm (now part of Pfizer) made dramatic improvements in cost and quality across its manufacturing operation. Change management Entrepreneurship Execution Start talking about the challenge of “scaling” with people, and you’ll find the term gets used to mean a lot of different things. For example, when entrepreneurs talk about it, they are usually struggling with matters of organization.

Go Ahead and Gossip

Harvard Business Review

We learn who we are through what people say to us and about us," says Kathleen Reardon, a professor of management at the University of Southern California Marshall School of Business and author of Comebacks at Work: Using Conversation to Master Confrontation.

How to Dispel Distrust at Work

Harvard Business Review

At pharmaceutical company Pfizer, they have a "Straight Talk" program. during which management had to spend a few days speaking with and working alongside people in the field. The exhibit based on these exercises became the biggest draw in the museum''s history, and management decided to set up curator co-creation events four times a year to look for more museum-wide, thematic projects that would energize and enlighten the staff. Communication Leading teams Managing people

The Key to Change Is Middle Management

Harvard Business Review

A mid-level manager in this 5,000-employee hospital, she is leading a 70-member group on patient flow as part of a larger organizational effort. Her ability to lead and inspire — to become a change leader from her position as a mid-level manager — is helping her team produce results. doubled from 20% to 40% between July and December 2013, and has stayed at that level since. Paul Taylor was managing a UK-based factory for LF Beauty UK Ltd.,

Stop Assuming Your Data Will Bring You Riches

Harvard Business Review

For example, a product evaluating nonprofit organizations may be highly useful to a wealth manager seeking to help his client to select a charity as part of a value-added tax efficiency service. Or a healthcare data offering evaluating physicians’ perceptions on a new drug may be useful not only to brand managers at pharmaceutical companies, but also to portfolio managers at asset management firms seeking to find promising investment opportunities.

The New Kind of Worker Every Business Needs

Harvard Business Review

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." Under the traditional logic of management, it would make sense to jealously guard the use of any productive assets a firm has invested in. Employee retention Managing people Organizational culture IFTF

The Hidden Dangers of Playing It Safe

Harvard Business Review

She kicked off her October management team meeting, which I was attending, by reading the following passage from my book: The dangers of taking too much risk are very clear. We don’t see news headlines that say, “Low-risk approach forces local business to file for bankruptcy,” or, “Stunningly conservative move pushes global pharmaceutical company to the brink of failure,” or “Man retires after a mediocre career and feels painful remorse for never having laid anything on the line.”.

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What Is Organizational Culture? And Why Should We Care?

Harvard Business Review

Beginning May 1, 2013, I facilitated a discussion around this question on LinkedIn. a fast-moving consumer products division vs. a pharmaceuticals division of a diversified firm). Depending on how acquisition and integration are managed, the legacy cultures of acquired units can persist for surprisingly long periods of time. "An If you want to provoke a vigorous debate, start a conversation on organizational culture.

Most Desired Trait by Companies Seeking Senior Executives

Great Leadership By Dan

After motivational ability, the senior executive traits most valued by organizations were: strong ability to manage change (51 percent); ability to identify and develop talent (46 percent); innovative thinking (30 percent); and consistent high performance (26 percent). Global trends in talent management indicate that companies are investing more in grooming internal leaders, and they are doing a better job of onboarding the executives they hire from the outside."

Five Power Skills for Discovering Radical Ideas

Harvard Business Review

Cosmeceuticals , for example, is the new industry emerging from the convergence of the personal care/cosmetic and pharmaceutical industries. A few of our clients have set up innovation colleges and universities to teach their leaders, managers, and top talent how to find pivots (and the other four skills mentioned here). Innovation starts with new and novel ideas. Over the last 20 years, we have worked with many world-class brands to help find their next “big thing.”

How Corporate Venture Capital Helps Firms Explore New Territory

Harvard Business Review

In the 1990s and 2000s, for example, several corporate-venture initiatives helped pharmaceutical companies catch up with rapid advances in bioscience that were threatening to undermine the value of their well-established expertise. And corporate venture funds, if well managed, can avoid the fickleness problem that plagues independent venture capital and crowdfunding.

Autism's Competitive Advantage, and Challenge, in the Workplace

Harvard Business Review

Similarly, if Atari''s Nolan Bushnell had recognized the young Steve Jobs'' OCPD and insisted his highly talented technician get the counseling and pharmaceuticals he needed to be a healthier person, would there have even been an Apple Computer, let alone an iPhone and iPad? Talk about turning a bug into a feature. SAP, the German software giant, announced that it hopes to hire hundreds of autistics as talented programmers and product testers.

How to Pick Your Battles at Work

Harvard Business Review

You don’t want to run to your manager every time you want something to change,” Dillon says. The hiring manager told her that she’d given him a lot to think about and eventually offered her the position. The department’s admin sent out the invite and downloaded the slides from the pharmaceutical company’s intranet site. You hate that people consistently show up to meetings late. You find your company’s maternity policy woefully inadequate.

How to Help Cyprus Help Itself

Harvard Business Review

Just look at the venture capital industry, the pharmaceutical industry, or the movie industry — all of which owe their success to actively managing portfolios with low probability/high growth prospects. For the past several years, EU politicians have been locked in shortsighted and often self-defeating policies for bailing out troubled euro zone countries.

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Men: Win at Work by Leaning In at Home

Harvard Business Review

Joseph, a research team leader at a pharmaceutical company, conducted an experiment to become more systematic about how he used his time at work and saw dramatic improvements at work, at home, and in his community. His research team was happier and more productive both as a result of his increased delegation as well as his "managing up to minimize ''reactive'' work.".

The Dark Side of Generic Drugs

Harvard Business Review

Sure, the company was eventually both punished and sold (it’s now one of the fastest-growing pharmaceutical businesses in the U.S.). Management Flaws at I.R.S. OK, you know I have to say it: Of course this scandal boils down to a massive management problem. Could more training really help fix the dynamics of an office that former employees claim was "overworked, understaffed, and lacked a layer of experienced middle managers"?

Adding Too Much Value

Marshall Goldsmith

Garnier, former CEO of the large pharmaceutical company GlaxoSmith Kline, “What did you learn from me when I was your executive coach that helped you the most as a leader?” Marshall was the highest rated executive coach on the Thinkers50 List in both 2011 and 2013.

Does Your Company Have the Right Number of Salespeople?

Harvard Business Review

For sales managers, this is not an easy question to answer. One pharmaceutical company's overly-cautious sales force expansion strategy resulted in too little support for a new product launch and cost the company 17% of profits over three years. The number of salespeople affects profitably by impacting both revenues and costs. It's easy to estimate costs by looking at historical compensation, benefits, field support, and travel costs per salesperson.

Aligning Your Organization with an Agile Workforce

Harvard Business Review

McKesson, the US-based pharmaceutical and health-care giant, benefits from external expertise as a strategic extension of its resources in areas such as business strategy and logistics support. ” Most managers would never dream of treating externals like internals.

Four Mistakes to Avoid When Predicting Competitors’ Moves

Harvard Business Review

But for 2013 he was only about 15 percent on target. But his 2013 forecasts were certainly within the realm of the possible; they just failed to materialize this year. Companies in the pharmaceutical industry – particularly in the U.S. – Competition Managing uncertainty Since 1986, Byron Wein, Vice Chairman Blackstone Advisory Partners (part of the Blackstone Group), has been offering 10 predictions for the coming year. Most years he is about 50 percent correct.

Social Media Compliance Isn't Fun, But It's Necessary

Harvard Business Review

These hurdles aren't unique to financial services — insurance, pharmaceuticals, health care and government all face regulation, to name a few examples. By the end of 2013, Gartner research estimates half of all companies will have to produce social media records for e-discovery. The latest enterprise social media management systems, offered by companies like Radian 6 , Hearsay Social , and my company, HootSuite , allow firms to assign limited permissions to certain employees.

The 3 Things CEOs Worry About the Most

Harvard Business Review

Please note that titles used here reflect the positions the individuals held in 2013, when we conducted the interviews for a separate article ). Talent Management. As a pharmaceutical company, we obviously were part of that whole ecosystem.

Morning Advantage: The FTC Needs You to Stop the Bots

Harvard Business Review

The contest opens on October 25 at robocall.challenge.gov , and will run through January 17, 2013. EXCUSEZ-MOI, MADAME, BUT HOW DO YOU MANAGE TO LOOK SO CHIC? Coca-Cola recently teamed up with French pharmaceutical company Sanofi to create a line of drinks to “aid health and beauty.” The Federal Trade Commission is offering $50,000 cash to anyone who can come up with a way to eliminate telemarketing robocalls.