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Several med tech and pharmaceutical companies have the right focus on digitization in their corporate strategy. However, to make sure, it is implementable, these companies need to work on the employees’ culture and mindset. While technological capabilities do remain key enablers, a recent European round table confirmed that it was the talent management aspects that are equally if not more important. Those pharma companies that are yet to plunge in to the world of digital, have developed proto types to this effect. To scale up the initial operations, it is the company culture that will be the biggest enabler. Strong leadership is also required for this. The top management though will need to proactively work with hands- on operational digital leaders. The talent challenge also needs to be handled carefully. The leaders must have some sort of experience in transferring the digital initiatives from the incubator stage to the real execution level.

Source:https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/barriers-to-digital-at-scale-shifting-the-focus-from-tech-to-culture

Uploaded Date:12 June 2019

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