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Subjects - 3 Ingredients of Highly Profitable Organizational Change
As waves of organizational change sweep across the business landscape, a huge question arises: What must a leader do to make sure change produces highly profitable results?
To find out, I uncovered exactly what executives did who planned and implemented organizational change that produced $10-million - $1-billio
To find out, I uncovered exactly what executives did who planned and implemented organizational change that produced $10-million - $1-billio
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
n in profit improvement.
I discovered that highly profitable organizational change requires three key ingredients. If any ingredient is missing or incomplete, then even the best plans will fail to achieve the desired results. My 3-ingredient model for all successful organizational change is the following:
Ingr
I discovered that highly profitable organizational change requires three key ingredients. If any ingredient is missing or incomplete, then even the best plans will fail to achieve the desired results. My 3-ingredient model for all successful organizational change is the following:
Ingr
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
dient 1: Leading the Organizational Change
Ingredient 2: Handling Employees Who Resist – or Undermine -- Change
Ingredient 3: Managing Yourself as You Lead Organizational Change
Leaders at some of America’s finest companies used this 3-ingredient model to produce highly profitable organizational change. Th
Ingredient 2: Handling Employees Who Resist – or Undermine -- Change
Ingredient 3: Managing Yourself as You Lead Organizational Change
Leaders at some of America’s finest companies used this 3-ingredient model to produce highly profitable organizational change. Th
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ese organizations include IBM, Harley-Davidson, Intuit, City of Indianapolis, Robert Mondavi Corporation, Outback Steakhouse, Ritz-Carlton, Excell Global Services, VF Corporation, and Washington Mutual.
Ingredient 1: Leading the Organizational Change
Leading profitable organizational change requires four key ac
Ingredient 1: Leading the Organizational Change
Leading profitable organizational change requires four key ac
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ions.
Action 1: Fit Your Organizational Change into Your Corporate Culture
I found the only organizational changes that improve profits are those that fit into the company’s culture. Brilliant changes that do not fit into your organizational culture will not achieve the desired results.
Action 2: Creating A
Action 1: Fit Your Organizational Change into Your Corporate Culture
I found the only organizational changes that improve profits are those that fit into the company’s culture. Brilliant changes that do not fit into your organizational culture will not achieve the desired results.
Action 2: Creating A
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ig, Exciting Vision for Your Organization
A company’s real vision is not the clich?-filled mission statement adorning the company’s lobby or annual report. Instead, a company’s vision is a huge, compelling goal the organization aims to accomplish. For example, Ritz-Carlton Hotel Company’s vision is the followin
A company’s real vision is not the clich?-filled mission statement adorning the company’s lobby or annual report. Instead, a company’s vision is a huge, compelling goal the organization aims to accomplish. For example, Ritz-Carlton Hotel Company’s vision is the followin
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
g: Our key goal is to be the premier worldwide provider of luxury travel and hospitality products and services. Intuit’s big, exciting vision is this: Our key goal is to revolutionize the way people do financial work.
Action 3: Goal-Setting to Implement Changes
Goal-setting forms the steps that create the sta
Action 3: Goal-Setting to Implement Changes
Goal-setting forms the steps that create the sta
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
rcase leading to the organizational change. Employees need measurable targets with deadline dates.
Action 4: Teamwork to Produce Profitable Organizational Change
Executives leading organizational change need to get employees to use teamwork plus interdepartmental collaboration. For instance, at Egghead.com, t
Action 4: Teamwork to Produce Profitable Organizational Change
Executives leading organizational change need to get employees to use teamwork plus interdepartmental collaboration. For instance, at Egghead.com, t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
he large company that sells technology products and services, president and COO Jeffrey Sheahan and CEO Jerry Kaplan cleverly package four meetings each week to assure teamwork and goal achievement.
First is a lunch meeting of Egghead’s top five executives to discuss strategy.
Second is the “5 - 15 Report” from
First is a lunch meeting of Egghead’s top five executives to discuss strategy.
Second is the “5 - 15 Report” from
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ach manager which Sheahan reads to see how the manager is progressing on measurable goals.
Third is the meeting of all middle managers where each manager announces how he or she is doing at achieving measurable goals.
Fourth is a 20-minute “Social” for all employees; at this stand-up meeting -- no sitting allowe
Third is the meeting of all middle managers where each manager announces how he or she is doing at achieving measurable goals.
Fourth is a 20-minute “Social” for all employees; at this stand-up meeting -- no sitting allowe
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
! -- ice cream and cake are served as employees publicly praise colleagues who accomplished wonderful things.
Ingredient 2: Managing Employee Resistance -- or Undermining
Surveys of executives reveal many organizational changes fail due to people problems. These people problems are “R-n-R”: Resistance and Reb
Ingredient 2: Managing Employee Resistance -- or Undermining
Surveys of executives reveal many organizational changes fail due to people problems. These people problems are “R-n-R”: Resistance and Reb
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ellion.
Once I received loads of TV and print media coverage when I delivered a speech at a national conference in which I declared, "The major emotional reaction of employees during 3
organizational change is that they feel like their spouse or lover just walked out on them!” My statement summarized the shocki
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
g zing of betrayal practically everyone has felt for various reasons. Resistant and rebellious employees feel betrayed by their company making changes.
Prescriptions to manage the people problems include over-communicating reasons for change, “de-employing” employees who stop adding financial value, incentive pa
Prescriptions to manage the people problems include over-communicating reasons for change, “de-employing” employees who stop adding financial value, incentive pa
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
y, peer pressure to “get with the program,” and celebrating successes.
Another bottom line concern is this: Employees who did fine before the change may do poorly after the change is implemented. I call them “old-style” and “new-style” employees.”
Here are vital differences:
Old-Style Employees
Another bottom line concern is this: Employees who did fine before the change may do poorly after the change is implemented. I call them “old-style” and “new-style” employees.”
Here are vital differences:
Old-Style Employees
- Solo work
- Likes receiving direction
- Prefers to be told what to do
- Focus: Seniority & experience
- Interdepartmental
- Teamwork
- Likes independence
- Prefers shared leaders
- Focus: Updating & expanding skills
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
>Works in 1 department
New-Style Employees
New-Style Employees
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ip
During a speech I delivered at a company, an executive stood and dramatically announced: “As our organization undergoes major organizational changes, we always seek to cure the wounded. But, we will shoot the dissenters.” Every manager in my presentatio
During a speech I delivered at a company, an executive stood and dramatically announced: “As our organization undergoes major organizational changes, we always seek to cure the wounded. But, we will shoot the dissenters.” Every manager in my presentatio
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
n remained silent for a few moments. Then, they all burst out laughing as they recognized the wisdom of what they heard. Some resistant employees need to be “de-employed.” After all, a company’s purpose is to grow and prosper -- not transform rebellious employees.
Ingredient 3: Managing Yourself during Organi
Ingredient 3: Managing Yourself during Organi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ational Change
It is waste when managers use many great techniques to lead change -- but ignore something incredibly important: How they manage their emotions and attitudes.
To learn more about this, I conducted unique research. I had leaders of highly profitable organizational change fill-out my Abilities & B
To learn more about this, I conducted unique research. I had leaders of highly profitable organizational change fill-out my Abilities & B
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ehavior Forecaster™ pre-employment test. My
research revealed these magnificently successful leaders scored amazingly high on four of the Forecaster™ test’s 18 scales, namely, Optimism, Teamwork, Creativity, and Intelligence.
The fact that astounding leaders in America’s best-run companies are very optimistic,
The fact that astounding leaders in America’s best-run companies are very optimistic,
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
teamwork-focused and creative implies that attitudes are contagious. These stellar leaders are role models. Employees “pick-up” and copy the behaviors and attitudes of these tremendous leaders. This, in turn, helps leaders implement highly profitable organizational change.
© Copyright 2005 Michael Mercer, Ph.D
© Copyright 2005 Michael Mercer, Ph.D
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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