Having to do more with less - in one of the most complex market environments?
Budgets have been cut, blockbuster patents are about to expire and the drug pipeline doesn’t look too great either. OKRs and Outcome Management can help you navigate these times of transformation, speed up your goal achievement process and reduce the resources that are wasted on projects that do not drive your strategy.
PHARMA EXPERT SAYS
We interviewed a Pharma expert on the effects of the economic downturn on Pharma companies and their strategy execution.
Outcome Management applied to Pharma
As a Pharma company, you can benefit greatly from an OKR and Outcome Management solution. By restructuring your strategy execution process, you'll be able to address the industry's most pressing challenges and outperform your competition:
efficiency
OKRs help to prioritize and keep focused on the most important strategic topics - even in times of turmoil and transformation in the industry. You can easily track where resources have the biggest impact on your strategy.
All teams work towards the same strategic priorities and boost organizational efficiency by reducing waste.
Talent shortage
A clear visualization of goals, responsibilities and contribution from other teams helps to drive ownership - and ultimately also motivation.
Employees know exactly what’s the purpose behind their daily work and how it pays into the most important business outcomes.
Rigid complexity
By connecting your goals across all teams around the globe with OKRs - including support functions outside of R&D - you can reach a new level of transparency and alignment.
Your teams are empowered to work in a more agile and cross-functional way and are not blocked by a lack of alignment and collaboration.
WORKPATH CUSTOMERS
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Jasper Kunow
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I highly recommend working with the experts at Workpath - from the initial discovery workshops to deep dives on strategy implementation and joint planning sessions. The expertise we have experienced is first class and has enabled us as a leadership team to identify some of the key levers to improve the delivery of our strategic objectives. Some of the insights from these workshops were already known beforehand, but Workpath's facilitation helped us to structure them effectively to ultimately improve the impact of our strategy.
WHATS NEXT
OKRs are great for Pharma companies to reach your strategic goals faster, with less resources and lower risk.
Learn more about the tool
It can be challenging to implement OKRs - without a dedicated tool. The Workpath platform ensures clear goals and integrates with your adjacent steering processes - to continuously organize all data and teams around shared business outcomes.
Learn more about the Analytics Suite
The Workpath Analytics Suite helps you monitor your strategy execution and OKR process from every angle to make timely course corrections and reduce the risk of not achieving your goals.
