Orchestrating organizational performance for high-growth small and medium pharma companies

An important off-shoot of this growth would be an increase in depth and breadth of the organizational hierarchy and re-invention of the operational processes, to not only manage current scale of operations but support the growth in the future. The top management is seized with the twin challenges of building capabilities and capacities to achieve the growth aspirations and, at the same time, manage the current operations along with a growing operation.

Top management runs the risk of focusing on operational minutiae at the expense of strategic vision.

Small and medium sized, high-growth pharma companies can address this issue through a robust, process driven Performance Management System. Such a system will need 3 key components:

Identifying and translating business objectives into KPIs will align employees to the organizational objectives. This helps them plan and execute initiatives which will enable them to achieve the KPIs, which in turn will align the whole organizational endeavor to achieve the business objectives.

2. Build a robust central MIS process to measure and monitor the KPIs:

This process will be the back bone of the whole Performance Management System. A central independent system is the appropriate way to do this. Otherwise, if each of the individual functions were to make their own MIS, there will be multiple versions of the truth. This would lead to exhaustion of time and energy in identifying the right version instead of taking stock of what went well, and what needs to be improved.

Once the KPIs are identified and cascaded down, central MIS process and systems are set, it is imperative that a rhythm be set for performance reviews. The incentives of the managers and their career path in the organization should be linked to their team’s achievements, in terms of KPIs and performance reviews.