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Industry Trends in Innovation
Dr Glenn Carter
Healthcare Professionals Group
Industry Trends
A recent poll asked members of the Asia Pacific Pharmaceutical & Medical Professionals LinkedIn
Group:
“Where do you see the most industry innovation happening over the next 12 months?”
Where do you see the most industry innovation
happening over the next 12 months?
1. Digital and marketing communications
2. Multi-layered customer engagement
3. Analytics and knowledge management
4. Sales force effectiveness
5. Diversification of product portfolios
Where do you see the most industry innovation
happening over the next 12 months?
28% of respondents - How companies connect with their customers:
 a focus on strategies centered around multi-layered engagement.
 building business relationships with multiple influencers and decision makers
This will require sophisticated account management skills.
Where do you see the most industry innovation
happening over the next 12 months?
27% - most industry innovation will involve how companies analyze data and convert this data to
knowledge, and from this to commercial advantage.
27% - innovation in digital and marketing communications – development of multi-channel e-
platforms for products, therapeutic areas and disease states, and the use of iPads for e-detailing.
Where do you see the most industry innovation
happening over the next 12 months?
12% - innovation would come from the diversification of product portfolios (in-licensing; co-
marketing; co-promotion).
4% - innovation would come from improvements in sales force effectiveness.
Innovation Capability:
Someone skilled at managing innovation:
 Understands both their industry and the wider commercial arena.
 Has good judgment about which creative ideas will work and how potential ideas may play out in
the marketplace.
 Is open to working collaboratively with others.
 Embraces creative suggestions.
 Is good at facilitating effective brainstorming.
 Can manage the creative process of others.
 Understands and manages risk appropriately whilst not fearing failures and mistakes.
 Embraces continuous learning and transformative thinking.
Assessing Innovation during an Interview
"What does innovation mean to you?“
"Where do you see the most innovation happening in our industry?“
"What more do your customers and non-customers want from you and how will you deliver this?“
"Tell me about your preferred working environment?" Probe on collaboration, working with others,
sharing knowledge and a willingness to learn.
Assessing Innovation during an Interview
"What's your understanding of the creative process and how do
you manage creativity in others?”
"What's your understanding of risk management and how do you
manage risk?“
"Talk me through several failures you've had. What did you learn?
What would you do differently?“
"Tell me how you have taken a raw idea and turned it into a
marketplace success.“
Assessing Innovation during an Interview
"From the many possibilities for new products and services how do you select those with the highest
likelihood of success?“
"What innovative strategies have you adopted to increase customer engagement?"
Summary
Innovation is vital for commercial success – it is the catalyst for growth.
Innovation brings immediate advantages and provides platforms for businesses to explore additional
opportunities for future benefit.
The ability to innovate and to manage innovation are now Essential Criteria as employers select
tomorrow’s workforce.
Health & Aged Care Professionals
Recruiting all clinical care, management and operational positions with Public and Private Hospitals; Medical Practices;
Imaging Service Providers; Health Insurance Funds; and Aged Care providers, residential facilities and affiliated service
providers
www.hacpconnect.com
Pharmaceutical & Medical Professionals
Recruiting all positions, at all levels, into biotechnology, medical devices, pharmaceutical and scientific companies
www.pmpconnect.com
Rural & Remote Healthcare Professionals
Recruiting doctors, nurses, allied health professionals, and healthcare administrators into rural and remote hospitals and
medical practices
www.rrhpconnect.com

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Industry Trends in Innovation

  • 1. Industry Trends in Innovation Dr Glenn Carter Healthcare Professionals Group
  • 2. Industry Trends A recent poll asked members of the Asia Pacific Pharmaceutical & Medical Professionals LinkedIn Group: “Where do you see the most industry innovation happening over the next 12 months?”
  • 3. Where do you see the most industry innovation happening over the next 12 months? 1. Digital and marketing communications 2. Multi-layered customer engagement 3. Analytics and knowledge management 4. Sales force effectiveness 5. Diversification of product portfolios
  • 4. Where do you see the most industry innovation happening over the next 12 months? 28% of respondents - How companies connect with their customers:  a focus on strategies centered around multi-layered engagement.  building business relationships with multiple influencers and decision makers This will require sophisticated account management skills.
  • 5. Where do you see the most industry innovation happening over the next 12 months? 27% - most industry innovation will involve how companies analyze data and convert this data to knowledge, and from this to commercial advantage. 27% - innovation in digital and marketing communications – development of multi-channel e- platforms for products, therapeutic areas and disease states, and the use of iPads for e-detailing.
  • 6. Where do you see the most industry innovation happening over the next 12 months? 12% - innovation would come from the diversification of product portfolios (in-licensing; co- marketing; co-promotion). 4% - innovation would come from improvements in sales force effectiveness.
  • 7. Innovation Capability: Someone skilled at managing innovation:  Understands both their industry and the wider commercial arena.  Has good judgment about which creative ideas will work and how potential ideas may play out in the marketplace.  Is open to working collaboratively with others.  Embraces creative suggestions.  Is good at facilitating effective brainstorming.  Can manage the creative process of others.  Understands and manages risk appropriately whilst not fearing failures and mistakes.  Embraces continuous learning and transformative thinking.
  • 8. Assessing Innovation during an Interview "What does innovation mean to you?“ "Where do you see the most innovation happening in our industry?“ "What more do your customers and non-customers want from you and how will you deliver this?“ "Tell me about your preferred working environment?" Probe on collaboration, working with others, sharing knowledge and a willingness to learn.
  • 9. Assessing Innovation during an Interview "What's your understanding of the creative process and how do you manage creativity in others?” "What's your understanding of risk management and how do you manage risk?“ "Talk me through several failures you've had. What did you learn? What would you do differently?“ "Tell me how you have taken a raw idea and turned it into a marketplace success.“
  • 10. Assessing Innovation during an Interview "From the many possibilities for new products and services how do you select those with the highest likelihood of success?“ "What innovative strategies have you adopted to increase customer engagement?"
  • 11. Summary Innovation is vital for commercial success – it is the catalyst for growth. Innovation brings immediate advantages and provides platforms for businesses to explore additional opportunities for future benefit. The ability to innovate and to manage innovation are now Essential Criteria as employers select tomorrow’s workforce.
  • 12. Health & Aged Care Professionals Recruiting all clinical care, management and operational positions with Public and Private Hospitals; Medical Practices; Imaging Service Providers; Health Insurance Funds; and Aged Care providers, residential facilities and affiliated service providers www.hacpconnect.com Pharmaceutical & Medical Professionals Recruiting all positions, at all levels, into biotechnology, medical devices, pharmaceutical and scientific companies www.pmpconnect.com Rural & Remote Healthcare Professionals Recruiting doctors, nurses, allied health professionals, and healthcare administrators into rural and remote hospitals and medical practices www.rrhpconnect.com