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Pharma and biotech needs cultivate fast-performing leadership in our companies, writes Bagrat Lalayan. Here, he outlines a model to get the best results in a competitive business environment.
Pharma and biotech needs cultivate fast-performing leadership, writes Bagrat Lalayan. Here, he outlines a model to get the best results in a competitive business environment.
"Today you have to run faster to stay in place." - Philip Kotler
"Simplify the task. Continually look for faster, better, easier ways to get the job done." - Brian Tracy
The pharmaceutical and biotech industries are known by their tough competition, serious regulations, compliance needs and scientific innovations. This environment requires high level of leadership from executives, as well as middle management. In order to be more effective and productive in a field where it appears, everyone has similar education, skills and products. What is the differentiator? Speed. We need to develop fast-performing leaders and cultivate fast-performing leadership (FPL) in our companies. The focus should be on the speed of implementation of tasks and decision-making compared to the usual daily performance.
I developed FPL model to be more effective in managing projects and people (individual model), to reinforce my companies into the FPL style in order to achieve higher sales and productivity in comparison with competitors (corporate model). FPL works as effectively for individuals as for companies.
The FPL model requires a new type of thinking: confidence in your ability to perform faster by keeping the best level of quality without signs of being exhausted by your work. For example, it is possible to keep your business meetings short, with details and concrete tasks, rather than spend half of a day without real results at the end. If you implement the FPL model in your daily activities, you will change your speed of work, attitude and achieve better results.
How do you change your standard mind to a fast-performing one?
All type of electronic or digital tools you’re using as a leader during your daily activity for communication or office should be fast-performing and allow you to react and make faster decisions.
The ultimate goal is to speed up activity in order to fulfill more daily tasks than in the past
Business interactions with colleagues, partners or customers can take a huge part of our working time. The majority of leaders spend significant time for interactions even after normal working hours or meet key clients during the weekends. Therefore, transformation of common interactions into the fast-performing will save tremendous amount of time and eventually lead the company to the outstanding efficiency.
Fast-performing bosses and subordinates
You can learn to indirectly influence your bosses by demonstrating your ability to provide more rapid solutions. And you also need to develop your subordinates, so that eventually their speed of action will grow, and they will be evaluated to the fast-performing leaders.
Fast-performing partners and clients
The interesting fact about FPL’s technique is that you can train your partners or even customers how to increase the speed of your cooperation and meet better results together. You may tell them about the method or indirectly lead them by your own example. But the main message to all your partners should be “It is better to do it today rather than to start to think about it tomorrow or next week”. Therefore, it is very important also to develop your clients in a way when they start, for example, to send their requests or place the orders faster than they’ve been used to do it before.
• You can compare your personal results (sales, number of successful marketing projects, HR turnover or other KPIs) after implementation of the FPL model in comparison with previous years or periods. You can also ask your bosses or partners how they assess the latest developments in your work.
• CEOs can implement the FPL strategy as a starting point. However, each member of the team must do his/her best to grow faster as performing leader. It will help the company to achieve higher targets than their competitors. Besides, it will improve image of the company as the best working place for employees.
• The best way for executive directors in developing of their people in accordance with FPL model is to set up effective FP tools, strategic goals and personal development plans; to decrease the level of bureaucracy; to set up challenging daily tasks and to help subordinates to achieve them faster than they think they could.
• It is important to organize business meetings in order to discuss options, real solutions, innovative ideas and always keep the scheduled agenda instead of spending hours complaining about results, making long, populist speeches and finally demotivating people.
Bagrat Lalayan, M.D., Ph.D., is founder of Innovapharm and Victoria Consulting LLC (Armenia), and former GM of Armenian affiliates of Servier Laboratories (France), Roche (Switzerland).