CHAPEL HILL, N.C., April 4, 2008 /PRNewswire/ -- Companies align commercial and portfolio management employees by therapeutic area. For a company with an annual sales volume of $10 to 20 billion, on average nine marketing FTEs are assigned to the early-stage commercialization team along with approximately eight portfolio managers. At companies with smaller sales volumes, the ratio is approximately four to three, commercial to portfolio management staff, according to a study by pharmaceutical benchmarking firm Best Practices, LLC.
In light of a changing industry with heightened focus on research and development, pharmaceutical companies are now significantly increasing resources to support for early-stage commercialization.
The benchmarking report, "Managing Cross-Functional Teams for Pharmaceutical Product Commercialization Excellence," available with a complimentary study summary online at http://www3.best-in-class.com/rr924.htm, provides extensive insight into how pharmaceutical, biotech and medical device companies are preparing their newest employees for the competitive marketplace in which they are being asked to excel.
Best Practices, LLC gathered valuable best practices and operating tactics from leading pharmaceutical companies, including Amgen, Abbott, AstraZeneca, Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, Genentech, GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Pfizer, Procter & Gamble, Roche, Sanofi-Aventis and Wyeth. They will help executives build and manage strong teams that can excel across functions, units and regions.
Cross-function collaboration is greatly improved through many methods, including structuring jobs with overlapping responsibilities, basing rewards on group performance, designing procedures so that employees with different jobs are better able to collaborate, and laying out work areas so that people can see one another's work and share lessons learned.
This benchmarking report highlights the following areas of cross-
functional team management:
-- Cross-Functional Team Structures
-- Collaboration and Productivity Processes
-- People Management
-- Resource Allocation
-- Decision-Making Processes
-- Communication and Collaboration
For additional sample practices and metrics, download the free study summary at http://www3.best-in-class.com/rr924.htm, or contact our Solution Specialists at (919) 403-0251 or firstname.lastname@example.org for more information.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.
|SOURCE Best Practices, LLC|
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