Corporate culture is one of the key drivers to business success today. This is even more accurate a statement when it comes to biotechnology companies. Since an extremely high degree of science is used, and people’s lives are getting impacted, it is essential that the culture strives at some degree of scientific aptitude. Biotech firms typically started by pure business persons have often failed in the long run. Ultimately it is the people involved who create the corporate culture. Certain principles typical of biotech firms’ corporate culture have been identified. First of all, like is GSK’s case, culture is born from inception itself. There are many failures along the way, but the best of firms respond in the most decisive of manner. The NAR principle must be applies in talent recruitment to make sure no rotten apples spoil the bunch. The corporate communication within the firm must be authentic, inclusive and transparent. Beyond the bigger picture, it is also the little things that define the work processes and subsequent culture. While individualism must be curbed at the team level, there is always someone or a close group making the decisions. The available talent needs to be further nurtured so that new recruits feel positive reinforcement throughout their initial period. The individual scores of employees within the broader company goals must be analyzed from a healthy perspective and not prove to be toxic to either the person or the team. Most importantly, teams must know how to have fun and let the hair down to celebrate the small victories.

Source:https://www.forbes.com/sites/brucebooth/2017/07/25/distinctive-biotech-corporate-culture-walk-the-talk/#6f0a905b6c7a

Uploaded Date:31 July 2017