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| Victor Newman, The Knowledgeworks |
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Victor Newman was Pfizer's Chief Learning Officer (2000-2004). His leadership of innovation in the form of pragmatic solutions that connect knowledge in new ways, transformed global best-practice. His leadership of skunkworks projects doubled Pfizer's R&D productivity. Victor has a prevailing interest in the psychology of implementation, derived from diverse and intense consulting experience with all industrial sectors.
His recent application of his influential "BoxLogic" KM technique designed to develop a portfolio of innovative strategies, by exploring the limitations of the existing business paradigm within Pfizer, identified key strategic opportunities to transform business strategy and change the basis of measuring and creating new market value.
As Visiting Professor in KM and Innovation, he leads the Lifesciences MBA Consortium in partnership with the Open University Business School in Europe. Victor has contributed to HBR, is author of "Made to Measure Problem Solving" and his "Knowledge Activist's Handbook" from Capstone/Wiley & Sons was recently cited as the "best management book withinthe last ten years".
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Strategic Knowledge Management: Pharma's Missing Piece
Victor Newman, The Knowledgeworks, Visiting Professor in KM & Innovation to the Open University Business School (former CLO, European Pfizer Research University)
A classic cue for being locked within a strategic box is the situation that Andy Grove of Intel characterised as a "strategic inflection-point" or a "time in the life of a business when its fundamentals are about to change. That can mean an opportunity to rise to new heights". With the paradox of large R&D budgets and an inexorable decline in the number of launched New Chemical Entities, is it the case that the pharmaceutical industry is at such an inflection-point or more probably has yet to respond meaningfully to it? An inflection-point where its greatest danger might be to become efficient at driving a strategy with noticeably decreasing returns at a time when we should respond to the productivity signals that require a move into more effective, alternative strategies? What kind of paradigm-box may we be trapped in, what assumptions form its retaining-walls, and can we begin to consider escape strategies?
Everyone knows that innovation is key, but intellectually it remains easier to squeeze the margins and go for minor differentiation around existing products than to do something new. Ironically whilst the emergent strategy is failing to deliver it can be career-limiting to initiate conversations around innovation with the risk of triggering defensive behaviours from functions and organisations dedicated to maintaining resource-allocation and career-structures developed during periods of growth.
Now is the time to review some of our assumptions. Many of these assumptions are implicit within our strategic choices and need to be revisited regularly to prevent them becoming hidden strategy-traps that consume investment to little return. We need to actively consider our hidden, and often tacit agenda of assumptions and constraints. We need to articulate these assumptions and explore their current validity. How valid are some of these assumptions?
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