Executing and sustaining R&D strategy
Life Sciences (LS) Research and Development (R&D) organisations are facing unprecedented challenges: falling productivity, rising costs, increases in regulatory scrutiny, and the demise of the blockbuster model. R&D organisations have responded to these challenges with new strategies, from improvements in R&D processes to transforming operating models. Although many of these strategies are sound, they often fail to deliver the anticipated benefits. In most cases, the problem lies not with the strategy but with its execution. Good strategies usually fail as a result of not having the right people driving implementation, of not ensuring the vision translates into appropriate action, or of having an organisational infrastructure that does not support the strategy. Given the length of the R&D process and other pressures on the industry, LS organizations cannot afford to have their R&D strategies delayed or partially implemented because of poor execution. By focusing on more effective execution from the outset, R&D organisations can increase the likelihood of achieving the expected benefits of
- Does everyone in your organisation understand your R&D strategy and its intended goal?
- Are your realizing the benefits of yoru R&D strategy? If not, do you know why?
- Is your operating model enabling or hindering the execution of your R&D strategy?
- Do you have the right people in the right roles with the appropriate competencies and attitudes to deliver on the R&D strategy?
This article will help you understand how better planning and management of implementation can lead to a sustainable and successful R&D strategy.