Building Innovation for Biologics Growth

Crafting Programs to Propel Midsize Companies Forward

Background: A publicly traded midsize biologics company approached GOTBio with concerns about stagnation in their scientific discovery processes and a strategic business plan that lacked innovation. Stakeholders and upper management recognized the need for more creativity and forward-thinking but were unsure how to encourage this within their teams. GOTBio was tasked with evaluating the company’s current approach and providing practical solutions to foster an innovative mindset.

Challenges Identified: Upon thorough evaluation, GOTBio discovered the root of the problem was within the upper management’s mindset. Leadership did not fully embrace innovation or a growth mindset, which filtered down to a corporate culture that was risk-averse and stifled new ideas. Employees felt uncomfortable offering creative solutions, fearing failure or rejection. The lack of communication channels, both internally and externally, further hindered cross-disciplinary knowledge acquisition, a crucial factor in innovation.

Moreover, the company underutilized its Scientific Advisory Board (SAB), missing opportunities to leverage this resource for greater knowledge sharing and breakthrough thinking.

Solutions Implemented by GOTBio:

1. Fostering a Mindset Shift: GOTBio advised upper management to adopt a mindset that embraces change and challenges conventional thinking. This shift required leadership to encourage a culture where taking calculated risks and learning from failure is not only accepted but encouraged.
2. Establishing a Safe-to-Fail Environment: To nurture innovation, GOTBio recommended creating a “safe-to-fail” environment where there were no bad ideas. Failure was reframed as a learning opportunity, fostering an atmosphere where employees felt free to explore new ideas without fear of reprimand.
3. Cross-Disciplinary Collaboration and Communication: GOTBio introduced internal cross-disciplinary teams and established more effective communication pathways among the scientific researchers and upper management. The creation of these teams encouraged collaboration across different areas of expertise, leading to richer idea generation and problem-solving capabilities. Open communication channels were also enhanced to allow for more frequent and transparent exchanges and skill development.
4. Holistic Problem Solving: GOTBio introduced methods for stepping back and assessing problems with a holistic view. By looking at the system as a whole, the company could better identify the complexities involved and pinpoint actionable solutions. This approach helped the team see connections that were previously overlooked, enhancing their ability to innovate.
5. Challenging Conventional Wisdom: GOTBio encouraged “What if we did the opposite?” thinking. This creative approach to problem-solving pushed the team to challenge entrenched assumptions, sparking new ideas and laying the groundwork for innovation.
6. Utilizing the Scientific Advisory Board: GOTBio helped the company better integrate their SAB into everyday decision-making and strategic initiatives. The SAB’s role was expanded, allowing for more meaningful engagement with both the scientific staff and upper management, which provided additional perspectives and expertise.
7. Training and Education: GOTBio provided inhouse educational sessions on critical problem-solving skills and innovation techniques. These sessions equipped the company’s scientific personnel with the tools they needed to think creatively and tackle challenges from new angles.

Results: The company adopted the recommended changes and saw a significant cultural shift. Employees became more comfortable sharing ideas and felt more appreciated, knowing their input was valued and that failure was seen as part of the innovation process. Open communication across departments and with upper management improved, leading to better collaboration, more creative problem-solving skills, and reduce employee turnover.

Furthermore, the company integrated its Scientific Advisory Board more effectively, creating a sustainable, actionable relationship with both scientists and management. This increased the knowledge base and brought fresh insights to the company’s strategic direction.

As a result of these changes, the company identified several key areas ripe for innovation and developed multiple new product ideas. These ideas are now being explored for their potential to drive growth and enhance the company’s product portfolio.

Conclusion: Through GOTBio’s strategic interventions, the midsize pharmaceutical company was able to transition from a stagnant corporate culture to one that embraced innovation and creativity. The company now has a foundation that encourages continuous improvement, adaptability, and out-of-the-box thinking, which will support long-term growth and competitive advantage in the market.