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Business Acumen Skills for the Pharmaceutical Sales Manager™ was developed in response to the changing healthcare marketplace. It is important for sales managers and representatives to develop and leverage business acumen capabilities to better understand both their customer’s businesses and the drivers of their own organization’s profitability. Many pharmaceutical companies ask their field employees to run their “sales territory as a business.” This requires greater appreciation for costs incurred and the effective management of company resources. Thus, like every successful business, there is a need to create business plans that are aligned with corporate and therapeutic area strategic goals. This program develops the skills that sit underneath the business planning process: business analysis, strategic thinking, and execution planning.
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Understand the strategic financial/business implications of their operational decisions |
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Analyze sales performance, competitive, and financial data to identify and prioritize key performance drivers in their region/district |
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Create business plans to maximize results in their region/district based on their analysis
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Allocate resources and leverage strengths to ensure these plans have maximum impact on business growth
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Actively coach representatives to ensure that business plans are effectively executed in the field
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Develop business acumen skills in data analysis, problem solving, decision making, resource allocation, and strategic business planning
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Business Acumen Skills for the Pharmaceutical Sales Manager ™ has helped clients in the US, streamline and improve their business planning efforts. Lessons learned incldue:
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The need for senior leadership involvement and commitment from the beginning to outline their philosophy regarding planning and resource allocation.
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Recognition that a training program on business acumen must first be linked to a specific business planning effort. |
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The need for a planned cascade throughout the sales organization to ensure all parties understand their roles and expectations, especially around coaching and oversight.
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The critical importance of partnering with Compliance and Legal to identify parameters for open text items in business plans to mitigate risks associated with improper sales and marketing practices (especially in the US).
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In addition to designing and delivering this program, WLH offers train-the-trainer services to certify client facilitators and a suite of post program sustainability tools:. |
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Leader Led Learning Modules
Suite of learning modules facilitated by managers to develop skills at the individual and team level.
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Situational Assessments / Field Coaching
Series of questions/checklists for a manager to ask a direct report to assess knowledge, skills, and capabilities; basis for ongoing coaching and feedback. |
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Developmental Experiences
Suggested on-the-job activities designed to provide individuals with ways to leverage a strength or close a development gap.
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| © 2010, 2011 WLH Consulting, Inc. All rights reserved. Patent Pending. |
