Are you responsible for managing the structure of any division or group in a life sciences organization? Your daily roles may include any of the following stages: planning, logistics, developing strategies and reporting upward about your budget and objectives. You know how difficult it is to implement real change. You’re expected to effectively manage the challenging task to contain and reduce costs, rationalize your choice of vendors, build a foundation for scalable growth and develop a plan that will achieve your organization’s vision. Only with a clear path in mind will you be successful.
So how do you do it all when faced with competing directives, conflicting voices, budget constrictions and fear of potential risks when new strategies are implemented? A strategy roadmap will help you navigate the process. With such a hefty set of responsibilities on your shoulders, there are a few things you need to know about what strategy roadmaps are, and how they can ensure a more positive future for your division and ultimately the whole organization. The following facts will explain what a good strategy roadmap looks like and the success they can have on your life sciences organization.
What a Good Strategy Roadmap Looks Like
If you’re looking for a solution that will help boost your division’s bottom line, decrease costs and increase productivity, you need a good strategy roadmap. While you are familiar with planning and logistics, a good roadmap goes above and beyond a simple plan. This is what an optimized strategy roadmap should look like in any division or life sciences organization:
A plan that starts with a vision and clear targets
A division-wide commitment to the goals
A clear and carefully designed approach
A well-prepared workforce to support the goals
Incentives to motivate commitment from all those involved
Agreed-upon investment from those in charge of the budget
Accountability for all those involved with achieving the goals and vision
Feedback loops driven by transparent and verifiable data
Testing to examine whether strategies are working as planned
Space to refine approaches and reframe challenges as you go along
What a Strategy Roadmap Can Do For Your Division
A well-established roadmap can have countless measurable benefits for the division or subset that you are responsible for within your organization. You will be able to adopt new strategies that are more effective for the modern climate of your industry. A roadmap will keep you on track to ensure high output, lower operating costs and faster time to productivity with greater use of internal resources and reduced attrition. You will be able to maintain productivity for a lower cost than less effective strategies, or improve productivity for the same cost as less efficient strategies, depending on your organization’s goals.
If this sounds like the kind of strategic planning you need to start implementing in your workplace, though, you will be hard-pressed to make it work without professional help to get your strategies in line. The investment may seem like a drain on your budget, but the increased productivity you ultimately achieve will more than pay for itself.
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Geoffrey Lewis is a Vice President and the leader of Paragon’s Corporate & Enterprise consulting practice for Life Sciences. In this role, Geoff builds and retains relationships with client executives, and acts as a key advisor to those executives, project sponsors and key decision makers. Geoff’s career spans over 20 years of experience developing and operationalizing strategies, increasing revenues, and improving operational efficiencies for Fortune 500 organizations across diverse industries. Geoff holds a Graduate Certificate in Business Management from the Macquarie Graduate School of Management, Sydney, Australia.