Summary:
Marketing excellence programmes have become commonplace in the pharmaceutical industry. The concept of these programmes suggests that as industries mature and it becomes harder to differentiate technologically, competitive advantage flows from the ability to segment, position and deliver extended value propositions.
Yet, after 12 years of examination, Dr. Brian Smith finds the results of this up-skilling frenzy disappointing. By and large, these firms describe their marketing excellence programmes as costing lots of money and even more time, but delivering little tangible improvement in capabilities or performance. Why this is can be summarized in seven fundamental flaws that are often embedded into the structure of marketing excellence programmes. For a complete explanation of the seven deadly sins of marketing excellence, follow the link below.
Article Quote:
“The recent blooming of a thousand marketing excellence programmes in the pharmaceutical industry has been one of the most noticeable trends in our industry, but it has not been surprising. The same phenomenon has been observed in other sectors, from consumer goods to cars, from IT to financial services, as technical innovation became a more difficult route to differentiation.”
Link: http://pharmexec.findpharma.com/pharmexec/Europe/The-Seven-Deadly-Sins-of-Marketing-Excellence/ArticleStandard/Article/detail/657777?contextCategoryId=48182
The research conducted by Dr. Brian Smith reveals that the reasons for the pharmaceutical industry’s difficulty in extracting value from marketing excellence lie mostly in the industry culture. The culture assumes that a social science-based discipline like marketing can be managed in the same way as we manage natural science disciplines.
For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/
Summary:
The global economic meltdown demands a rethink of how we go about securing a competitive advantage, how we measure ourselves, what it is we need to be doing and why. Suddenly the old rules of the game simply imploded and many were left clinging the ‘plan’, formulated in the context of the ‘old rules’ but now utterly useless and irrelevant.
What is needed today is the ability to think strategically, according to this author. Furthermore, it is not just a select few within the organization that get to do the ‘thinking’, but rather the challenge is to get everybody thinking strategically, contributing a diversity otherwise lacking in today’s strategic planning process.
Article Quote:
“The problem is, we have forgotten how to think. Reliance on our ability to plan, and specifically on Porter’s conventional wisdom as to how best to go about the formulation of that plan, has produced ‘lazy thinking’ habits within executive teams and amongst leaders. We have been so used to marching to a known tune, that when the tune changes, or the music stops altogether, we simply keep on marching in-step.”
Link: http://www.connectioneconomy.com/2009/12/03/back-to-the-future-rethinking-strategy/
Conventional wisdom has been shaken up by economic conditions and is forcing organizations to re-think how they develop their strategic plans. Getting everyone in the organisation- not just leadership – to actively participate in organizing and implementing the strategic plan creates an inclusive atmosphere, thereby adding to a sense of ownership in the company.
For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/
Craig McIvor writes that over twenty years of crafting strategic plans for businesses, he has come to some conclusions. First, that modern leaders are drowning in detail and this is hampering the quality of their decision-making. Second, very few businesses understand the drivers of their business and what competitive advantage really means. Without a clear understanding of what the business does and what constitutes its competitive advantage, the task of developing a strategy becomes difficult. Finally, McIvor writes that our leaders’ risk-aversion is limiting the ability to change towards more sustainable business models.
Article Quote:
“Many large businesses succeed in spite of themselves. Over time they do accumulate competitive advantage, market share and great profits, but without understanding the reasons for this, their ability to sustain this position is unlikely.”
Link: http://www.nzherald.co.nz/small-business/news/article.cfm?c_id=85&objectid=10613436
The self-imposed information overload we put ourselves through only hampers the strategic planning process. In this information age, we have nearly infinite amounts of information at our fingertips. When sorting through what is important and useful, sometimes we need to take a step back to focus on what kind of decision needs made. Remember, information is only useful when it is relevant.
Once a strategic plan has been adopted, implementing it is the next step. Strategic planning software brings projects and people together in a collaborative effort that puts the strategic plan at the forefront of day-to-day operations.
For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/