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jerryking : attrition_rates   16

Novartis’s new chief sets sights on ‘productivity revolution’
SEPTEMBER 25, 2017 | Financial Times | Sarah Neville and Ralph Atkins.

The incoming chief executive of Novartis, Vas Narasimhan, has vowed to slash drug development costs, eyeing savings of up to 25 per cent on multibillion-dollar clinical trials as part of a “productivity revolution” at the Swiss drugmaker.

The time and cost of taking a medicine from discovery to market has long been seen as the biggest drag on the pharmaceutical industry’s performance, with the process typically taking up to 14 years and costing at least $2.5bn.

In his first interview as CEO-designate, Dr Narasimhan says analysts have estimated between 10 and 25 per cent could be cut from the cost of trials if digital technology were used to carry them out more efficiently. The company has 200 drug development projects under way and is running 500 trials, so “that will have a big effect if we can do it at scale”.......Dr Narasimhan plans to partner with, or acquire, artificial intelligence and data analytics companies, to supplement Novartis’s strong but “scattered” data science capability.....“I really think of our future as a medicines and data science company, centred on innovation and access.”

He must now decide where Novartis has the capability “to really create unique value . . . and where is the adjacency too far?”.....Does he need the cash pile that would be generated by selling off these parts of the business to realise his big data vision? He says: “Right now, on data science, I feel like it’s much more about building a culture and a talent base . . . ...Novartis has “a huge database of prior clinical trials and we know exactly where we have been successful in terms of centres around the world recruiting certain types of patients, and we’re able to now use advanced analytics to help us better predict where to go . . . to find specific types of patients.

“We’re finding that we’re able to significantly reduce the amount of time that it takes to execute a clinical trial and that’s huge . . . You could take huge cost out.”...Dr Narasimhan cites one inspiration as a visit to Disney World with his young children where he saw how efficiently people were moved around the park, constantly monitored by “an army of [Massachusetts Institute of Technology-]trained data scientists”.
He has now harnessed similar technology to overhaul the way Novartis conducts its global drug trials. His clinical operations teams no longer rely on Excel spreadsheets and PowerPoint slides, but instead “bring up a screen that has a predictive algorithm that in real time is recalculating what is the likelihood our trials enrol, what is the quality of our clinical trials”.

“For our industry I think this is pretty far ahead,” he adds.

More broadly, he is realistic about the likely attrition rate. “We will fail at many of these experiments, but if we hit on a couple of big ones that are transformative, I think you can see a step change in productivity.”
adjacencies  algorithms  analytics  artificial_intelligence  attrition_rates  CEOs  data_driven  data_scientists  drug_development  failure  Indian-Americans  kill_rates  massive_data_sets  multiple_targets  Novartis  pharmaceutical_industry  predictive_analytics  productivity  productivity_payoffs  product_development  real-time  scaling  spreadsheets  Vas_Narasimhan 
november 2017 by jerryking
Why wealthy families lose their fortunes in three generations - The Globe and Mail
AUGUSTA DWYER
Special to The Globe and Mail
Published Thursday, Jan. 26, 2017

Among the causes of the phenomenon are taxes, inflation, bad investment decisions and the natural dilution of assets as they are shared among generations of heirs.

Yet among the most compelling causes are younger family members who are ill-prepared or unwilling to shoulder the responsibility of wealth stewardship. They have grown up with plenty of money and are a step or two removed from the work ethic and drive of the people who made it for them.

“There is a risk of entitlement that comes to the fore, and that is where things tend to go off the rails,” says Thane Stenner, director of wealth management at Vancouver-based StennerZohny Investment Partners, part of Richardson GMP.

The key to overcoming that, he adds, is communication, which means “family discussions, family meetings, and trying to be very proactively engaging with the next generation, rather than reactive.

“Successful families are basically talking a lot to them about what the previous generation has done and engaging them by asking about their own dreams and aspirations. And really helping to enlighten them, or get them excited about their own future and how the family can help fund that future, but in a very responsible, business-like way.”

According to Mr. McCullough, almost as much time and effort should be spent in preparing the heirs to receive the wealth as actually investing and managing it.

“That involves understanding what your family’s set of values is,” he says.
attrition_rates  wealth_management  family  values  stewardship  generational_wealth  Tom_McCullough  Northwood  family-owned_businesses  family_business  Communicating_&_Connecting  mission_statements  entitlements  mindsets  family_office  work_ethic  heirs 
january 2017 by jerryking
How to Avoid the Innovation Death Spiral | Innovation Management
By: Wouter Koetzier

Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results. Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral....
Incremental innovations play a role in defending a company’s baseline against competition, rather than offering customers superior benefits or creating additional demand for its products.
Platform innovations drive some market growth (often due to premium pricing rather than expanded volume), but their main function is to increase the innovator’s market share by giving customers a reason to switch from a competitor’s brand.
Breakthrough innovations create a new market that the innovator can dominate for some time by delivering new benefits to customers. Contrary to conventional wisdom, breakthrough innovations typically aren’t based upon major technological inventions; rather, they often harness existing technology in novel ways, such as Apple’s iPad.......A recent Accenture analysis of 10 large players in the global foods industry over a three-year period demonstrates the strategic costs of failure to innovate successfully. Notably, the study found little correlation between R&D spending and revenue growth. For instance, a company launching more products than their competitors actually saw less organic revenue growth. That’s because the company made only incremental innovations, while its competitors launched a balanced portfolio of incremental, platform and breakthrough innovations that were perceived by the market as adding value.
Accenture  attrition_rates  baselines  breakthroughs  correlations  disappointment  downward_spirals  howto  incrementalism  innovation  kill_rates  life_cycle  portfolios  portfolio_management  platforms  LBMA  marginal_improvements  Mondelez  moonshots  new_products  novel  product_development  product_launches  R&D  taxonomy 
march 2016 by jerryking
From healthy fries to segways: Why most products fail - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER
The Globe and Mail
Published Thursday, Sep. 18 2014,

The vast majority of new product launches end up failing.

In fact, 72 per cent of new products are failures, according to a global study released by Bonn, Germany-based marketing consultancy Simon-Kucher & Partners. The firm surveyed 1,615 managers in 40 countries. It found that most newly launched products fail to meet their profit targets “because companies neglect or ignore essential pricing and marketing activities in their new product development processes.”.... set aside a budget for research to measure customer demand for the product, as well as what people are willing to pay for it......So many products are launched that haven’t established basic things, such as research into the need of the product, the efficacy of the product, testing the product with consumers,”

marketing a new product:

1. Is there a market for the product?
2. Can you own the name?
3. Do you have data that prove the idea has merit?
4. Do you have a credible, knowledgeable spokesperson who can talk about the product?
5. Have consumers or customers used the product and will they talk about their experience (hopefully positively)?
6. Have you had everyone you are talking to sign an NDA (non-disclosure agreement)?
7. Can you identify a third party who can corroborate that the world needs this product that will go on record?
8. How long will it take to manufacture the product and will you meet the deadline for the market (season, trade show, holiday)?
9. Do you have money to capitalize the manufacturing and launch of the product?
10. Do you have a business plan and a budget?
11. What is your day job and can you do both?
attrition_rates  stage-gate  failure  marketing  Susan_Krashinsky  new_products  product_development  products  product_launches  kill_rates 
september 2014 by jerryking
Bob Pittman of Clear Channel, on the Value of Dissent - NYTimes.com
By ADAM BRYANT
Published: November 16, 2013
discussing an idea, “What did the dissenter say?” The first time you do that, somebody might say, “Well, everybody’s on board.” Then I’ll say, “Well, you guys aren’t listening very well, because there’s always another point of view somewhere and you need to go back and find out what the dissenting point of view is.” I don’t want to hear someone say after we do something, “Oh, we should have done this.”

I want us to listen to these dissenters because they may intend to tell you why we can’t do something, but if you listen hard, what they’re really telling you is what you must do to get something done....“You’ll never be fired here for making a mistake. You’ll be fired for not making a mistake. Because if you’re not making a mistake, it tells me that you’re not trying anything new.”...“Weed the garden.” If you try 10 new things and, just for example, two are clear winners and two are clear losers. That means you’ve got six in between. What do I do with those? Most organizations — and when I’m not careful, including me — let everything live except the clear losers....only going to let clear winners live. I’m going to take the resources I put for the other eight things and try again,”...

Urgency wins. There are times when people come in with a presentation, and I’ll say: “What is it you want from me? What is the decision?” I find 70 percent of the time, I don’t need to know any of the other stuff. I’ll just say, “Do this or that” and we’ve saved 50 minutes. Although it may come across as impatience, it really allows us to move faster.
Clear_Channel  attrition_rates  CEOs  dissension  impatience  portfolios  kill_rates  momentum  operational_tempo  urgency 
november 2013 by jerryking
Four Lessons from Rockstar Games: The Innovator...
September 18, 2013 | Quora | by Ross Simmonds [Life & Pixels]
(1) Give The Customers What They Want - When you focus on giving your customers what they want, the media and customers will do the talking for you. Creating an impact doesn't happen by saying you're going to make one. It happens from actually doing it.
(2) Don't Be Afraid To Break The Rules - In business, it's more important than ever to push boundaries. To be successful, you need to do things that other people question but you know is going to be right for your clients, partners, employees or customers. As the world gets smaller, the importance of pushing boundaries and striving for greatness is at an all-time high. When you're thinking about how your business can generate some additional press or how you could win new business - think differently.
(3) Don't Be Afraid To Kill Your Bad Puppies - It's the idea of killing something that is at the core of what makes you feel uncomfortable....In business, the initial stages of customer research and product development are just one part of the puzzle. As you build your business and establish a client base, you're required to make more decisions as new opportunities arise with your business growth. Decision making quickly becomes a key part of your job as you're forced to make choices on a daily basis...It's our obsession with the past and our own creations that hold our businesses back from continuing to evolve and grow.
(4)Take Pride In The Entire Experience--A great business is one that sweats the little things. It's a business that focuses on the minor details and ensures that their entire business is built on the idea of an experience....At the end of the day, you can get excited about using Instagram for a new promotion or work relentlessly on developing a great content marketing strategy but if your product sucks, you'll fail. The key for business success is to be mindful of these four lessons as you build your business and strive to make it grow.
lessons_learned  culling  customer_satisfaction  execution  detail_oriented  games  rule_breaking  customer_centricity  videogames  kill_rates  Pablo_Picasso  innovators  hard_work  think_differently  stage-gate  attrition_rates 
september 2013 by jerryking
Sanofi head sees cures for what ails Canada’s pharma sector - The Globe and Mail
Jun. 16 2013 |The Globe and Mail | SOPHIE COUSINEAU.

Canada and Quebec, where the country’s pharmaceutical R&D is concentrated, must also adapt quickly to the downsizing of in-house research.

“The business model has changed not only for financial considerations, but because the science has shifted,” he said. “It has become so complex that no single organization has all the disciplines to be successful.”

The collaborative approach that Mr. Viehbacher has tried to instill at Sanofi since he took over the company in late 2008 relies on creating an ecosystem like the one found in Boston, where the company acquired rare-disease specialist Genzyme Corp. for $20.1-billion (U.S.) in 2011.

In Boston, researchers from universities, biotech firms and pharmaceutical companies often work together from the get-go, in a public-private partnership, or PPP, culture. Big pharma doesn’t wait around to pick the biotech fruits when they are ripe. “We can accelerate the development or, in certain cases, kill a project earlier, so that resources can go elsewhere,” Mr. Viehbacher explained.
attrition_rates  stage-gate  pharmaceutical_industry  Montreal  CEOs  Sanofi  competitive_landscape  patents  intellectual_property  PPP  partnerships  Sophie_Cousineau  accelerators  kill_rates 
june 2013 by jerryking
The Open-Source War - New York Times
October 15, 2005 | NYT | By JOHN ROBB

The other likely explanation is one the military itself makes: that the insurgency isn't a fragile hierarchical organization but rather a resilient network made up of small, autonomous groups. This means that the insurgency is virtually immune to attrition and decapitation. It will combine and recombine to form a viable network despite high rates of attrition. Body counts - and the military should already know this - aren't a good predictor of success.

Given this landscape, let's look at alternative strategies. First, out-innovating the insurgency will most likely prove unsuccessful. The insurgency uses an open-source community approach (similar to the decentralized development process now prevalent in the software industry) to warfare that is extremely quick and innovative. New technologies and tactics move rapidly from one end of the insurgency to the other, aided by Iraq's relatively advanced communications and transportation grid - demonstrated by the rapid increases in the sophistication of the insurgents' homemade bombs. This implies that the insurgency's innovation cycles are faster than the American military's slower bureaucratic processes (for example: its inability to deliver sufficient body and vehicle armor to our troops in Iraq)
open_source  warfare  networks  insurgencies  innovation_cycles  accelerated_lifecycles  attrition_rates 
july 2012 by jerryking
Data Definitions
Definitions of a data warehouse, database marketing, data mining software, scoring, campaign management software, customer segmentation, dynamic scoring, attrition/churn. What about unstructured data, batch data versus real-time data?
definitions  data  data_driven  databases  data_mining  attrition_rates 
july 2012 by jerryking
Technology Devices Either Sell Big or Die Fast - NYTimes.com
August 23, 2011 | NYT | By JENNA WORTHAM & VERNE G.
KOPYTOFF. In recent years, technology companies have been cutting their
losses with increasing speed...These days, big technology companies —
particularly those in the hypercompetitive smartphone and tablet
industries — are starting to resemble Hollywood film studios. Every
release needs to be a blockbuster, and the only measure of success is
the opening-weekend gross. There is little to no room for the sleeper
indie hit that builds good word of mouth to become a solid performer
over time. ...this accelerated lifecycle of high-end hardware is being
described as “Darwinian.” ...Companies kill new products more quickly
now because of the higher cost of staying competitive, ..The crush of
tech bloggers and Twitter-using early adopters .. raises the stakes
around how well new products perform in the marketplace...One needs
everything in place: the content, the applications and the
experience--to have a reasonable chance at success.
attrition_rates  product_launches  speed  product_development  hits  blockbusters  winner-take-all  accelerated_lifecycles  social_media  kill_rates  new_products  Jenna_Wortham  Darwinian 
august 2011 by jerryking
What's Next for Michelle Rhee?
Oct. 13 2010 | The Atlantic | Marc Ambinder. Rhee is a Grade-A
edu-lebrity, and she's the perfect bureaucrat for the Reality Show age,
when personal brands matter as much as ideas. Or when, at the very
least, ideas don't succeed unless they've got good brands behind
them...Randi Weingarten, president of the American Federation of
Teachers, said of Rhee:
Her¨central failing, was "her disdain for relationships": Rhee came in
with a huge amount of wind at her back because everyone wanted change.
Virtually all of us were rooting for us to succeed. The issue in
education that the so-called reformers don't understand, is, it's about
relationships. Students and teachers, teachers and principals.
Relationships are very critical. When you have disdain for relationships
and want to bust them up, you're actually busting up the one thing that
[binds] a student to success.`Weingarten says that Rhee's reforms won't
be scalable, and that attrition rates among teachers will exceed 80%
over 5 yrs.
Washington_D.C.  Michelle_Rhee  school_districts  public_schools  education  reform  personal_branding  relationships  attrition_rates 
october 2010 by jerryking
Are You Killing Enough Ideas?
August 27, 2009 | Strategy + Business | by Zia Khan and Jon
Katzenbach. Companies can improve their innovation performance by
getting their formal and informal organizations in sync.
stage-gate  attrition_rates  innovation  ideas  exits  kill_rates  failure 
august 2010 by jerryking
Chapter_1.1_Catalyst_for_Growth.
Many corporations are not prepared to institutionalize
corporate entrepreneurship. There are no benchmarks, metrics or
performance criteria for corporate entrepreneurship. Many executives do
not know why new initiatives succeed or fail. A failure rate of fifty
percent for new initiatives is deemed acceptable.
stage-gate  attrition_rates  intrapreneurship  corporate  failure  filetype:pdf  media:document  success_rates  criteria  new_businesses  new_products  large_companies  brands  metrics  benchmarking  kill_rates 
april 2010 by jerryking
Ping - How Google Decides to Pull the Plug - NYTimes.com
February 14, 2009 NYT article By VINDU GOEL on how Google
evaluates budding projects, its key tests for continued incubation, its
use of its own employees as a test bed, and its use of product-specific
blogs to communicate and listen to, the public.
attrition_rates  stage-gate  Daniel_Pink  Freshbooks  decision_making  business  innovation  Google  exits  trial_&_error  commercialization  projects  kill_rates  test_beds  assessments_&_evaluations  Communicating_&_Connecting  testing  blogs  new_products  Michael_McDerment  culling 
february 2009 by jerryking

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