Why Biotech Manufacturing Companies should have a Sense of Urgency to Improve their Operations
Samsung has announced it is going into the Biologic Generics business. Some in the industry may not be immediately concerned by this, perhaps commenting ‘it will take years for a new comer to learn how we operate’ as such like. But this is the point. Samsung will never learn to operate as many in the industry do current – they will do it far better than the companies who are not currently leading the way.
Why are they likely to be a force to content with?
- They are unlikely to saddle themselves with the current mindsets, disjointed IT systems, unreliable equipment and poor capability that many companies have to contend with.
- They know their strengths. “Biopharmaceutical companies are good for sales, and biotech companies for innovation, but neither is good for manufacturing. It is in Samsung’s DNA to produce products at low prices while meeting legal and industry requirements.”2
- They have the resources required having made profits of $4.5bn in the last quarter alone3.
So, the sense of urgency is upon us. The second step on Kotter’s change management journey is ‘Form a Guiding Coalition’. I hope the incumbent CEOs of the companies that are behind the curve are rallying their senior teams and working to ‘Create a Vision’ (Kotter’s 3rd step) for their companies that includes a very strong focus on transformational change management to radically improve their operational performance.