Pharmaceutical Product Commercialization: Enabling Teams To Excel
Pharmaceutical product teams have the power to make or break the launch of a new product. The problem is launch teams often lack the right structure, tools and processes to run effectively and therefore only produce a sub-optimal launch.
In fact, pharmaceutical marketing and HR executives agree that collaborative behavior and cross-functional team work are key ingredients during product commercialization. According to a study by pharmaceutical benchmarking firm Best Practices, LLC, many organizations still use fully operational cross-functional teams too infrequently.
Cross-function collaboration is greatly improved through many methods -- structuring jobs with overlapping responsibilities, basing rewards on group performance, designing procedures so that employees with different jobs are better able to collaborate, and laying out work areas so that people can see one another's work and share lessons learned.
"Managing Cross-Functional Teams for Pharmaceutical Product Commercialization Excellence," available with a complimentary study summary online at www3.best-in-class.com/rr878.htm, provides extensive insight into how pharmaceutical, biotech and medical device companies are building team communication and leadership structures that prepare employees to excel in a competitive marketplace.
Valuable best practices and operating tactics were gathered from leading pharmaceutical companies, including Amgen, Abbott, AstraZeneca, Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, Genentech, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Pfizer, Procter & Gamble, Roche, Sanofi-Aventis and Wyeth. They will help executives build and manage strong teams that can excel across functions, units and regions.
- One benchmark partner aligned clinical and commercial's compensation, bonuses and evaluation and saw a more unified approach to development from the clinical and commercial sides. The alignment emphasizes the goal of market success over any one functional activity.
- The change came after the company found that its incentive programs were major obstacles to the commercialization of the development process. Scientists were rewarded for the number of INDs and NDAs they submitted and cycle time for submission and approval. Marketing team members were measured by market share and total sales.
- While these two outlooks quite often conflict, eliminating sources of friction in the incentives program has helped both groups work more effectively to produce one of the company's recent successes.
For additional sample practices and metrics, download the free study summary at www3.best-in-class.com/rr878.htm.
This benchmarking report highlights the following areas of cross-functional team management:
- Cross-Functional Team Structures
- Collaboration and Productivity Processes
- People Management
- Decision-Making Processes
- Communication and Collaboration
- Resource Allocation
Download the complimentary excerpt at www3.best-in-class.com/rr878.htm or contact our Solution Specialists at (919) 403-0251 or bestpractices@best-in-class.com for more information.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.
SOURCE: Best Practices, LLC