Recently, our team interviewed 24 CEOs, Chief Commercialization Officers, franchise leads, and other cross-functional commercialization executives. We wanted to get their perspectives on what it takes to build and operate a “Best Practice Organization” (BPO) for commercializing biopharma therapies.
14 of those leaders were from midsize and large biopharma companies with $1 billion or more in annual revenue. During those interviews, the leaders provided insights into what makes a BPO, as well as the challenges affecting their ability to function as one. They also helped us to solidify the 5 key success factors (KSFs) for building a Best Practice commercial organization in a midsize or large company.
Here’s the list:
- Empowered and agile organization across the scientific, market, and customer realms.
- Innovative and risk-taking culture that leverages decentralized decision-making and is tolerant enough of failure to encourage appropriate risk and learn from mistakes.
- Customer-centric mindset with strong acumen when it comes to the business, the customer ecosystem, and market access.
- Insights-driven decision-making that leverages a high level of data fluency to capture information, generate insights, and act on them quickly.
- Continuous learning approach that supports ongoing, role-specific development, knowledge sharing, and more.
Of course, not every organization possesses these KSFs in equal measure, but there are ways to fix that. If you’d like to learn more about this topic—and get a lot more detail about these KSFs and the recommendations for midsize and large companies, then you can download our full report. In it, we also address the challenges and KSFs for emerging companies, and the differences are interesting.
Get the full report here: Best Practice Commercialization Organization Study Report
