To many people, “innovation management” is an empty buzzword. To us, it is a strategic and organisational imperative for pharmaceutical and medical products companies, one that they must address systematically. Managing innovation first requires establishing an actionable definition of what innovation is. It then involves determining the target mix of innovation the company wants to achieve. Finally, it requires eliminating all elements of the operating model that inhibit innovation.
Building on insights from cognitive psychology, the history of science and benchmarks from academia and other industries, we help create organisations that have an increased likelihood of breakthrough innovation.
Experience shows again and again that innovation happens at the bench, in the entrails of the organisation and not in executive suites. We have developed an “Innovation Diagnostic”, which helps executives quickly and objectively identify the real issues that innovation management must address in their organisation. The diagnostic is based on a series of one-hour interviews with a selected sample of company employees: technicians in the R&D lab, sales reps, R&D project managers, marketing product managers, line managers, etc.
The interviews address key aspects of strategy and operating model and probe for consistency. We then cross-check the insights derived from these interviews with the results of a systematic screen of marketed products and pipeline innovativeness. The result is a compelling list of priorities for senior management to improve the company’s innovation performance.