The Life Sciences Industry is being rocked simultaneously by seismic changes in its market and the larger scientific environment. The industry faces twin challenges: increasing competition and greater uncertainty about the specific conditions that will accompany it — making it extremely difficult for management to craft the optimal strategic response. Where can a life sciences industry executive turn for enlightenment and guidance? Companies need to know how to develop strategies to deal with major uncertainties impacting the industry. This study from Deloitte Research argues that the time is right for life sciences companies to adopt "strategic flexibility" to not only to cope with, but also to exploit, uncertainty.

To cope with the challenges of fighting today's battles while simultaneously preparing for a wide range of future conflicts, we have borrowed from the fields of scenario-based planning and real options theory. The result is a robust framework — what we call "Strategic Flexibility" — that provides a structure for thinking about uncertainty and how companies can deal most efficiently with a broad range of possible strategic threats and opportunities. Learn more from the PDF file attachment below.

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Operating through a network of research professionals, senior consultants, academics and technology partners, Deloitte Research delivers innovative, practical insights companies can use to improve their overall business performance. Through its in-depth publications, surveys, reports and commentary, Deloitte Research identifies, analyzes and explains major issues that drive today's business dynamics and shape tomorrow's marketplace.