Building a culture for innovation

Article Abstract:

Organizations can foster a culture of innovation by adhering to some basic principles. First, they must make decisions based on clear objectives. Every individual must be encouraged to share his ideas willingly. Management must also value and expect experimentation from all people within the organization. In addition, senior managers must establish strong horizontal communication between people by conducting regular meetings or requiring people from various departments to join task forces.

Management Functions, Business, Innovations, Corporate culture

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Drug discovery process needs serious overhaul, study finds

Article Abstract:

Only two of the pharmaceutical firms polled by Andersen Consulting were found to have clear strategies and operation schemes to cut their drug discovery times in half. Pharmaceutical firms are anticipated to bring to market at least five new drugs per year, characterized by an annual sales potential of more than $350 million per drug. The projected productivity increase is also forecast to be achieved with headcount increases of only 19% and budget hikes of 40%.

Pharmaceutical industry

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