Recently, we met with the CEO and senior executives of a company that was preparing to receive FDA approval of a number of new drug applications. Despite the prospect of imminent success after years of investment and waiting, these savvy leaders recognized that they needed to be ready to head off a possible crisis: effectively bringing a number of new products to market all at once while balancing their current product portfolio.
In fact, these executives are not alone in recognizing the challenges that success can bring. We’ve learned over the years that regardless of the size of a company, success can provoke its own type of crises. After the initial celebration subsides, it can be an unpleasant surprise to realize that the world really has changed and that long-established operations must also change – sometimes dramatically – in order to accommodate growth and new expectations from customers, employees, and other stakeholders.Read More