Life science professionals in customer-facing roles need to develop their business acumen to “connect the dots” and identify opportunities to deliver value. One of the more important elements of developing business acumen skills is to effectively assess the local healthcare ecosystem. When assessing a local healthcare ecosystem, it is helpful to evaluate the following factors: […]
Why Good Planning is Critical to Success
Good business planning helps you and your team work effectively and efficiently. The challenge is that most business plans end up being disregarded as another document in the pile accumulating formality without execution. The truth is – effective planning can be enhanced and made easy when using a consistent framework to support the translation of […]
Business Acumen: Distilling Insights
Life science professionals in customer-facing roles need to develop their business acumen to “connect the dots” and identify opportunities to deliver value. A key behavior in developing business acumen is gathering information and generating actionable insights. Here are 3 helpful practices for distilling key insights: Consider the corporate strategy and brand goals for your organization […]
The Importance of Asking Questions to Drive Insights
To fully grasp business acumen, it is important to understand the art of asking questions. More specifically, how leveraging questions helps better understand the challenges and pain points of an organization and how to take appropriate action based on information learned. When asking questions, you are seeking to understand: What is happening? Why is it […]
Defining Business Acumen for Life Sciences
At its core, business acumen is about understanding how your company or your customers make money. Business acumen is also about understanding what information is used by your accounts when making critical decisions. A suggested framework for applying business acumen is as follows: Gather relevant organizational and marketplace data to understand the current situation Ask […]