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Large Pharmaceutical Company Case Study
Unlocking a huge uplift in performance
Situation
A large Asian business, the second largest operation of a global pharmaceutical company, found that profitability had dropped sharply in previous years. The new Chairman was tasked with turning this around. In his first few weeks this charismatic leader identified the following problems:
- A disaffected sales force.
- Poor relations between the company and customers.
- Poor relations between silos within the company.
- High staff turnover.
Our Task
We were tasked with:
- Creating a two-year plan for the development and implementation of a new strategy based on a theme of “Exceeding Customer Expectations” .
- Gaining acceptance of the Executive Committee (EXCOM) to their involvement.
- Setting up the internal team to resource the initiative.
- Doing this whilst the EXCOM membership was changing.
Action We Took
Over two years we facilitated an integrated set of 27 workshops taking the EXCOM and leadership teams of 11 functions through a set of steps to develop and to execute the strategy. These included:
- Establishing a new strategy infrastructure.
- Conducting customer and employee diagnostic assessments.
- Coaching all members of the executive team.
- Leading three annual workshops with 400 managers.
- Creating a new method for aligning different functions behind the customer.
- Training a team of 55 Scorecard champions across 14 locations.
Results
- A 56% increase in profitable sales in 3 years, with a 29% improvement in contribution margin.
- A 1.9% improvement in market share.
- A more aligned leadership team, with a clearer line of sight to the end customer.
- They became the world’s fastest growing pharmaceutical company and moved up 8 places in world rankings.
- A significant improvement in staff loyalty and retention.
- Much improved working relationships across the business.
- The business was inducted into the Scorecard Hall of Fame.
Project take-away
By acknowledging their weaknesses and being proactive in engaging customers and employees, the business became an exemplar for financial and operational success.