The Rhythm of Business is pleased to once again announce our sponsorship of the ASAP Biopharma Conference, the leading conference for life science partnering professionals. This year, we are sharing some of our learning about driving commercial success with local partners, applying some of the lessons learned in the world of information technology.
In high-tech, the last mile to the customer includes “channel partners” or “resellers.” This is also the case in biopharma – although it is rarely described as a channel. Leveraging techniques high-tech companies have successfully utilized, we’ll examine practices biopharma companies are adopting to better align with their partners and drive success by ensuring their partners are successful.
Learn what it takes to make your company stand out and be top of mind when it comes to serving patients through the biopharma channel. Educate and engage key stakeholders in adopting your critical processes such as compliance, pharmacovigilance, supply chain, and quality. Help partners leverage your resources and achieve mutual success.
Learn more about the conference and register. It is an event not to be missed!
AUTHORS: Jan Twombly and Jeff Shuman
Companies are transforming and digitally enabling their business models in a variety of ways leading to new value for customers, stockholders, and stakeholders. Partnering is essential to this transformation – and partnering models are also evolving to reflect a shift to consumption and outcomes-based business models. It is not uncommon for 5 – 7 partners to be involved in the discovery, development, and deployment of industry-specific, turn-key solutions to customers.
Add to this the fact that in this new world the roles of companies may shift as the solution moves from get-to-market to go-to-market. Different business units may be involved, crossing as many internal boundaries as external ones. This breaks existing partner models and practices in many ways – from establishing and aligning value propositions to governance, communication, measurement, and agreements.
Every component of the partner journey must be reimagined to accommodate the network of partners that agilely assembles in a blend of structures ranging from loosely to tightly coupled and requiring no-touch to high-touch support.
Download our presentation from the 2017 ASAP Global Alliance Summit to understand how to reimagine your partnering practices for the speed, scale, and scope required for digital business transformation.
Maybe it is starting to sink in. Just maybe it is starting to be understood. The ways and the depth with which we connect with others, connect our organizations, and share data, knowledge, and experience are driving business, societal, and personal value. This means managing external collaborative relationships well – a.k.a. partnerships and alliances – makes a difference in the outcomes we get!
Here are two recent studies that see the light:...
Our previous blog post stated that partnering could be either the connective tissue or the Achilles’ Heel of a company’s efforts to capitalize upon the tremendous opportunities offered by the Internet of Things (IoT)--and all the technologies enabling the digitization of business, the shift to everything as a service (XaaS), and outcomes-based business models. We said that smart companies are rethinking their partnering practices from the customer back – and finding that what they’ve been doing is no longer sufficient for the speed, scale, and scope of partnering today.
At the crux of the issue is that in order to deliver the turnkey solutions customers require, companies need the ability to assemble just the right mix of partners for that customer scenario – and hope that can become a replicable industry use case, relevant for many more customers without tremendous customization. The path for achieving this appears to be a targeted and precise vertical focus....
The Internet of Things (IoT) is upending partnering “best practices.” One practice is clear: no company succeeds alone. It takes an ecosystem.
This is partnering at a scale, scope, and speed unprecedented until now. It requires creativity and bold experimentation. Companies must learn quickly, iterate strategies, manage complexity, and try new models for value creation, delivery, and capture.
“We know how to partner. We’ve been doing it for 20 years.” These are deadly words when said about partnering for the Internet of Things....
In a recent appearance at the Boston College CEO Club, GE’s Jeff Immelt remarked that one of the reasons GE is moving its headquarters to Boston is that he wants to be in the “sea of ideas” driving the innovation and change that surrounds the industrial internet. In his words, he wants people “terrified and paranoid” because all the innovation and change around them could make them obsolete if they don’t evolve and grow, too.
While some may consider this an overstatement, there is enough change happening in business models, strategies, operations, and how leading companies execute for success to give us pause and ask:
Shouldn’t partnering models and practices evolve, too?...
If it is March it must be time for the ASAP Global Summit! This year’s conference – the last one for which Jan is leading the programming, stepping down from the role after 7 years – is organized under the theme of Partnering Everywhere: Leadership for the Ecosystem. The programming committee chose this theme because of how pervasive partnering has become across the enterprise and the diversity of business and partnering models that are developing across all industries. Businesses are partnering with companies and institutions never thought about previously. Cross-sector and multipartner arrangements are proliferating. Value is not just financial; it is multifaceted and evolves uniquely as each partnership matures.
Success in ecosystem partnering is not happenstance—it takes careful design. Three components—strategy, governance, and execution—must work together seamlessly to give your organization the partnering capability it requires today.
At The Rhythm of Business and in the work of the transformation-focused SMART Partnering™ Alliance with Alliancesphere that we announced at the 2015 ASAP Global Summit, we are confronting this challenge head on....