Darwin's Medicine
By Professor Brian D Smith
The biomedical industry is a complex adaptive system. Try to explain it by simple models or extrapolation and you soon find that nothing in this, the world’s most important industry, makes sense.
Darwinian evolution explains such systems. In this podcast, Professor Brian D Smith complements his critically acclaimed book of the same name to give insights into how we can shape the evolution of the industry and its business models.
Darwin's MedicineSep 11, 2022
Anthropological Advantages: Understanding the hidden meaning of the strategy review.
The strategy review, whether at brand, business unit or board level is a salient feature of business life. Setting aside its importance to the business, the time and effort it consumes and the reputational and political impact it can have make it an annual focus for many managers and executives. Like any other business activity, there are those who excel during this ritual and those that don’t. Cultural evolution provides a valuable, practical insight into how to be the former and not the latter. Spare me 6' 36" and I’ll let you into the secret. If you would like the article that accompanies this seminar, or you would like to talk about how to impress at your strategic review, visit www.pragmedic.com or mail me at brian.smith@pragmedic.com
Corporate Cancers
Cancers survive because they have their own, specialised mechanisms for sustaining themselves.This is true in both biology and for the corporate cancers of "rogue" teams and self-serving executives. In this seminar, I discuss the parallels between biological and business cancers and what they teach us about putting rogue teams into remission.
If you would like the article that accompanies this seminar, visit www.pragmedic.com or mail me at brian.smith@pragmedic.com
T is for Trouble
Transformation has become a buzzword used to sell almost any project or initiative. Yet most "transformations" fail or fizzle out. Succesful change can be fast and can be radical but it is almost always evolutionary, not revolutionary. In this seminar, I explain why that is and how you can learn to evolve faster.
If you would like the article that accompanies this seminar, visit www.pragmedic.com or mail me at brian.smith@pragmedic.com
Continuously Capable: How firms sustain their superior capabilities
In this fourth seminar in the series, I describe my research into how pharma and medtech firms, having built superior capabilities, sustain that lead in the face of changing markets and imitative competitors. If you've not seen the preceding three seminars in this series, please check out the others in this playlist. If you would like the set of 4 articles on which this series is based, please mail me on brian.smith@pragmedic.comAnd if you would like to know more about my research into strategy and business model evolution in the life sciences industry, please see www.pragmedic.com
Happy Accidents: How firms influence payers
In this seminar, I share some recent research about how pharma and medtech companies influence payers to understand the value of their innovative therapies and technologies.If you would like to learn more about my research and how it applies to you, get in touch and we can have a virtual cupt of tea.
The Glocalisation Classroom: How headquarters and affiliates learn from each other
In this seminar, the last in my series of four on glocalisation, I discuss the three different ways that headquarters and affiliates learn from each other to improve the adaptation of global strategies to local markets.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Crafting Capabilities
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Dallo's Law: Why you and your company may be worse, rather than better, than you used to be
In this seminar, I discuss how, as firms evolve, they pass points of no return so that they are no longer capable of what they used to be good at.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Be the change: Why it's better to enable change than to fight it.
This seminar describes the lessons learned from a deep-dive workshop about how to adapt to the Inflation Reduction Act's measures to control drug prices in the US, but it is equally relevant for any pharma or medtech company trying to influence market access or reimbursement policy. I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Comprehending Caution: It is better to understand commercial caution than to criticise it
If you've worked in pharma, medtech or other life sciences sectors for any length of time, you will probably have been frustrated by the the caution and sometimes risk aversion of its leaders and its investors.
In this seminar, I'll give an evolutionary explanation of why our industry is so cautious, an explanation that will help you and your colleagues seize more opportunities.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Choosing Capabilities - Making tomorrow's business model more capable than today's
This is second of a series of four seminar about how pharma and medtech firms transform their capabilities. You can find the podcast version wherever you get your podcasts by searching for "Darwin's Medicine"If you would like a copy of the article on which this seminar is based, you can request it at www.pragmedic.com I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Adaptive Innovation - What your thymus can teach you about innovation
Almost every leader in the life sciences wishes their team were less bogged down in process and templates and more innovative.
The answer to this may not be what you think and may be found in your thymus.
If you would like the article on which this seminar is based, you can request it at www.pragmedic.com
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
The Glocalization Change - How to adapt your global strategy to local markets
This video is the third in a series of four about how life science firms attempt to adapt their global strategies to the needs and wants of national markets.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications).
I’d welcome comments on this video and if you find it useful, please share it with your colleagues. If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Disruptive innovation: What it is, what it isn't and what makes it happen
The term "Disruptive innovation" began life in 1997 as a useful description of how a few, special developments change markets.
But it's since become debased and many now apply the term to any minor, incremental change.
In this seminar, you'll learn what disruptive innovation is, what it isn't and the conditions that lead to it happening.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Too Much Success - how your strategy can be too good for its own good.
Almost all marketing strategies, and launch plans in particular, aim to optimise ROI, sales, market share and profit. That's the point of a marketing strategy, isn't it?
Well, actually it's more complicated than that and there is a way a pharmaceutical or medical technology brand can be too successful.
In this seminar, I'll explain why that is and what it implies a sustainably succesful strategy.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com.And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Competitive Connectomics - Why similar firms get different results
Life science firms that look very similar on the surface - same size, same structure, similar strategies - often behave, think and perform very differently. In this seminar, I'll explain why that is and how it has parallels with why your brain is better than that of a chimpanzee.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
The Glocalisation Choice: How to prioritize countries and markets
This podcast is the second in a series of four about how life science firms adapt their global strategies to the needs and wants of national markets.
There's also an accompanying video on YouTube, just look for @profbriandsmith
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications).
I’d welcome comments on this video and if you find it useful, please share it with your colleagues.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Capabilities Count: It's what you're able to do that matters
This is first of a series of four about how pharma and medtech firms transform their capabilities.
It begins by looking at how a firm's business model dictates what capabilities it needs.
Then it looks at the underlying factors that make those capabilities possible.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Declining Disruption- Why is innovation becoming less innovative?
New research suggests that innovation across several industries, including the life sciences, is becoming more incremental and less disruptive.
In this seminar, I'll explain why.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriandsmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Microfoundations Matter: How strategic initiatives depend on sweating the small stuff
As you prepare to roll out strategic initiatives in the coming year, consider why most of these fail and only some suceed. The answer lies in their microfoundations and how good companies "sweat the small stuff".
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
The Glocalization Challenge:How life science firms adapt their global strategies to the needs and wants of local markets
Pharma and medtech companies need to be global but national markets remain local in their needs and wants. To do this, they must "Glocalize"
In this article, the first of a series of 4, I describe the differences between "astute" and "naive" glocalization.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Strategic Alignment: How cross functional alignment works and often doesn’t
This podcast is the third in a series about the human factors that influence your firm's ability to create and execute strong competitive strategies. There's also an accompanying video. Just search 'Professor Brian D Smith' on YouTube.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). I’d welcome comments on this podcast and if you find it useful, please share it with your colleagues.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Strategic Behaviour: Strong strategising depends on your colleagues’ behaviour
This podcast is a the fourth in a series about the human factors that influence your firm's ability to create and execute strong competitive strategies. There's also an accompanying video. Just search 'Professor Brian D Smith' on YouTube.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). I’d welcome comments on this podcast and if you find it useful, please share it with your colleagues.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Strategic Commitment: How to gain your team’s commitment to your strategy
This podcast is the second in a series about the human factors that influence your firm's ability to create and execute strong competitive strategies. There's also an accompanying video. Just search 'Professor Brian D Smith' on YouTube.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). I’d welcome comments on this podcast and if you find it useful, please share it with your colleagues.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Strategic Cultures: Organisational culture can define or destroy your strategy
This podcast the first in a series about the human factors that influence your firm's ability to create and execute strong competitive strategies. There's also an accompanying video. Just search 'Professor Brian D Smith' on YouTube.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). I’d welcome comments on this podcast and if you find it useful, please share it with your colleagues.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedic.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Roche's Creative Destruction: How Turmoil Creates Opportunities
When parts of the market go through difficult times, it sometimes creates positive change. In this podcast, I use a remark by a Roche executive to illustrate how "creative destruction" works in the life sciences industry.
I’d welcome comments and if you find this useful, please share it with your colleagues.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications).
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
C-Suite Keystones: Which type of CEO is yours?
Not all CEOs are the same and the kind of CEO your company is important to both your firm and your career.
In this video, I draw parallels between keystone genes and "alleles" of CEO.
I’d welcome comments and if you find this useful, please share it with your colleagues.
If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications).
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com.
And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Covid's consequences: Look into the future of the life sciences industry by understanding its past
We'd all like to peek into the future of the life sciences industry and understanding its past helps us to do that.
For example, the way that antibiotics shaped industry in the 1940s is a guide to how Covid with have long term effects in the 2020s and beyond.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Strategic Instincts: Great strategists are both born and made
The ability to strategise seems to be partly innate, partly learned.
Great strategists seem to have four instinctive behaviours that distinguish them from others.
This doesn't mean strategising skills can't be learned, only that how they are taught has to adapt to the innate abilities of the strategist.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, you can request at www.pragmedic.com (my latest publications). If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com, my published work. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch through www.pragmedc.com. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.Description to follow
Longevity Lessons: How do some life science firms last for centuries?
But other have pedigrees well into the 19th century.
Why is this? What do they do differently?
In this video, I describe the lessons from biology that translate directly in business and discuss the genes for corporate longevity.
I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, email me at brian.smith@pragmedic.com.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
And if, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.escription to come.
Dumbing Down: Are your decision making capabilities wasting away?
Anthropologists have found that human brains have shrunk since we made the transition from hunter-gather to settled societies, due to something they call "cognitive offloading". My work suggests something analogous -decision offloading - happens in some life science companies. Those companies that disdain hierarchies and obsess with alignment and buy in seem to constrain decisive managers, causing their decision making skills to wither. I’d welcome comments and if you find this useful, please share it with your colleagues. If you would like to read the full length article on which this seminar is based, email me at brian.smith@pragmedic.com. If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com. If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith) If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Secret Signals: If you know where to look. your market waves flags at you.
Expert strategists seem to be able to read the market, inferring important insight from very little information. When they do this, they often reading the secret signals that the market sends out but which most people miss. This gives them a head start on understanding the market.
This seminar gives you an insight into how these secret signals work. I’d welcome comments and if you like it, please share it.
If you would like to read the full length article on which this seminar is based, email me at brian.smith@pragmedic.com.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Born Strategic: Life Science Strategists Are Both Born and Made
Some people seem to be born with better strategic instincts than others.
This doesn't mean "instinctive" strategists are naturally good at strategising and others can't ever be strategists.
But it does mean that how we develop strategists needs to recognise individuals' inherent traits.
If you would like to read the full length article on which it is based, email me at brian.smith@pragmedic.com.
If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
And if, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch. And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
The Life Sciences Ecosystem: If you're not thinking ecosystems, your not thinking.
The only way to make sense of pharmaceutical and medical technology markets is to understand them as complex, adaptive ecosystems.
This video summarises how ideas from ecology apply to the world's most important industry and can help you understand it better.
If you would like to read the full length article on which it is based, email me at brian.smith@pragmedic.com. If you would like to browse over 300 articles about the evolution of business models and strategy in the life sciences industry, take a look at www.pragmedic.com.
If you'd like to follow my research in this area, follow at LinkedIn (@drbriandsmith) and Twitter (@profbriansmith)
If, like me, you're fascinated by our industry and would like to set up an informal, virtual chat with me then get in touch.
And of course I'd love it if you shared, liked and subscribed to both my Darwin's Medicine podcast and my YouTube channel.
Mastering Relationships: Becoming a Strategy Expert
In the fourth and final episode of the "What makes a biomedical strategy expert?" series, I look at the third of Roger Kneebone's "areas to master": Mastering Relationships. In an industry that depends on cross functional teams, such as the life sciences, mastering relationships is a core capability of a strategist. To do it, you need to understand what a working relationship is (spoiler, it’s about trust). Then you need to know who to build relationships (spoiler, it’s up, down and sideways). Then you need to know how truly expert strategists build those multidimensional, up, down and sideways trust-based relationships in the real-world context of pharma and medtech. Watch this video, and the others in the series, if you really want to be a strategy expert in the life sciences.
It's Not the Technology, Stupid
It’s natural to get excited about your technology. I’m the worst offender. But when you’re trying the build a value proposition, it’s a mistake to start with your product or technology, however sexy it is. It’s much more effective to start with the needs of the customers you’re trying to win or keep. And not just a patient, payer or professional but all of them at once. Watch this video if you want to be a marketer, not a producter.
A Different Diversity
You probably think that diversity is a good thing and that diverse teams are more effective than teams of clones. And you would be right. Except you wouldn’t. The diversity that makes a positive difference is cognitive diversity – how we identify, absorb and use information differently from the person in the next seat. And cognitive diversity doesn’t always equate to cultural, gender or ethnic diversity. So whilst there is social value is those kinds of diversity, there’s a danger than when you try to build a diverse team, you accidentally get a clone team anyway. Watch this video for a short summary of this piece of Darwinian thinking.
The Great Data Event
Honestly, I know you think digital health is the next big thing. And it is. Just not the way you think. The future doesn’t like with the geeky little app for your product. It lies with companies that learn to breathe data. In this video, I use the analogy of a massive change in Earth’s environment to help you understand how you can adapt to the massive coming change in your market. Watch this video if you want to adapt to a digital future.
Modelling Success
Try this little game. Ask 10 colleagues to write down their definition of a business model and compare them. You’ll find that even though we all throw the term around, we don’t agree on what it means. And there’s even less clarity about how to build one or transform one to another. In this short video, I’ll share my Darwin-based definition of a business model, discuss the 26 life science business models that come out of my research and describe the “genetic engineering” that is necessary to adapt your business model to your changing market. Watch this video to understand what business models really are.
Biotech's Golden Non Sequiturs
One of the challenges that face both academics and executives is sensemaking from conversations. Quantitative data only takes you so far and sooner rather and later you need to talk to people, ask questions and makes sense of their answers. There’s a little trick to this that I’ve learned from hundreds of qualitative research interviews. In this video, I illustrate with an example about biotech clusters but it’s very generalizable.
Pawley's Peepholes
Wouldn't it be great if you could look into the future of your market and how the industry will evolve? Well you can. Not necessarily perfectly or quantitatively but well enough to help your planning and gain a competitive advantage. This issue of Darwin's Medicine tells you how.
Mastering Knowledge: Becoming a Strategy Expert
In the third episode of the "What makes a biomedical strategy expert?" series, I look at the second of Roger Kneebone's "areas to master": Mastering Knowledge. In a knowledge based industry such as the life sciences, mastering knowledge is both essential and becoming more difficult as we are overwhelmed with information. So mastering knowledge is an essential trait for strategy experts, who need to synthesise scientific and market knowledge. Mastering knolwedge involves understanding the differences between data, information, knoweldge and insight, the different "flavours" of knowledge and the three ways of creating knowledge. In essence, it is a process of synthesising some piece of knowledge about the market that you know but your competitors don't. It is not about slicing and dicing data into lots of good-looking powerpoint slides. This video will interest anyone who thinks they are, or wants to be, a strategy expert in pharma, medtech or other biomedical businesses.
Aduhelm's Two Futures
Will the controversial approval of Adulhelm lead to commercial success for Biogen and Eisai? It's an important question for them, their competitors, healthcare systems and payers. Darwinian evolution provides a good way to look at the question and identfies two likely answers.
Practice Makes Perfect: Adopting Industry Best Practice
Many pharma industry executives think that success can be found in ‘best practice’ – imitating the behaviour of successful companies. Many consultancy companies make good business selling the idea of ‘best practice’ in business models, strategy or organisational structure. Yet the concept has no evidence base and runs counter to the idea that every firm is different and faces a different market situation. In this video, I’ll describe why the idea of ‘best practice’ is a myth and why the mantra ‘what works is what fits’ is the only one that acknowledges the realities of your firm’s uniqueness and your market’s characteristics. Using examples in from business model design, strategic planning processes and organisational structuring, it will explain how to address these challenges in a firm-specific way, avoiding the consultants’ cookie cutter.
H is for Hard: The Challenge of Turbocharging Innovation
In this latest Darwin's Medicine podcast, based on my monthly column in PME, I consider the evolutionary science behind turbocharging innovation and what biomedical companies need to consider.
Darwin's Medicine: Nature's Way
In the latest Darwin's Medicine series, based on my monthly column in PME, I consider what biological evolution tells us about how to incorporate market access conditions into a "fail fast, fail early" stage-gate process.
The Ecosystem Paradigm: If you're not thinking ecosystems, you're not thinking
Thinking like an ecologist about your pharma or medtech market can provide useful insights about how succeed in your market.
Mastering Oneself: The First Step in Becoming a Biomedical Strategy Expert
In the second episode of the "What makes a biomedical strategy expert?" series, I look at the first of Roger Kneebone's "areas to master": Mastering Onself. In essence, this means mastering the way one's brain works and allowing slow, deliberate "System 2" thinking to displace fast, instinctual "System 1" thinking. Not everyone can be a strategy expert and there are different ways to get there. Whether, and how you can do this is related to your personality traits. This podcast will interest anyone who thinks they are, or wants to be, a strategy expert in pharma, medtech or other biomedical businesses.
The Real Thing: What Makes a Biomedical Strategy Expert?
What is a Strategy Expert? And what must you do to be one in the pharma, medtech or other biomedical sectors? In this special podcast, the first of a series of 4, Professor Brian D Smith challenges you to think about what it really means to be a strategy expert in our exceptional business and introduces the three areas that you must master if you want to claim expertise. This podcast isn’t about the tools and techniques of strategy, it’s about what sort of person you need to be. If you would to read the article on which this podcast is based, you can find it at PMLive.com or you can ask for a PDF at brian.smith@pragmedic.com
Cross Functions
You dedicate a very large part of your time and energy to your work. But how much of that effort goes directly into achieving the task and how much into “aligning” and “getting buy in” with other functions? And why is cross-functional working both essential and difficult at the same time? In this edition of the Darwin’s Medicine Podcast, Professor Brian D Smith draws parallels between the compartmentalisation of higher organisms and the departmentalisation of complex organisations. It’s a useful comparison and points to how cross functional working can be more effective and less time consuming. If you would to read the article on which this podcast is based, you can find it at PMLive.com or you can ask for a PDF at brian.smith@pragmedic.com