The Leadership Stories Behind Innovation

15 minute read

Here at FiveAndCo. we believe innovation requires strong leadership.

We were recently asked by European Pharmaceutical Review to highlight the stories behind advances in biologicals and suggest how businesses can implement key leadership techniques to push forward innovation within their structures. Here are some of our key ideas.

Problems are not always solved through direct attention, but allowing the brain to adapt to new situations, people and environments can create the shifts required to progress. An upside of the current coronavirus pandemic is that managers and organisations with a penchant for encouraging presenteeism are being forced to treat their people in a more flexible manner. If those people are empowered to leave their desk, more problems could be solved as a result. This has been instituted in several organisations through a ‘flexible attention policy’ which normalises disengagement from ‘work environments’ for this very reason.

Organisations need to consider how they can deliver unique partnerships that facilitate uninhibited openness and collaboration, prioritising collaboration as a unique selling point (USP). The merger and acquisition spree that is dominating the industry will eventually run out of fervour. Therefore, developing a framework for global and fast-moving collaboration and diversity of thought will become a priority.

Daniel Ghinn, CEO of Pharma Data Insight company Creation.co, said: “Today’s companies have more information at their fingertips about the unmet needs of patients and healthcare professionals than ever before. The ability to remain agile and form effective partnerships could be the distinguishing factor that defines the industry’s future leaders.” This means investing in leaders who are self-aware, agile and with clear goals in sight. Businesses will also need to look again at their support functions like IT, HR and finance, to ensure they are aligned, to help leaders in their unique country or disease context.

Openness, curiosity and collaboration are three key behaviours and resonating terms for life science leaders and organisations, yet it requires personal and organisational strategies, not resonance, to cultivate these attributes and break through innovation ceilings.

To read our full article on leadership for innovation head to the European Pharmaceutical Review website here.

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