SlideShare a Scribd company logo
The world leader in serving science
Maggie Pax, Vice President, Strategy and Marketing
Thermo Fisher Scientific โ€“ Clinical Trials Division
Move Fast and Build Things: Turning Strategy into Reality
2
Who we are: Thermo Fisher Scientific Overview
Unmatched depth of capabilities
โ€ข Leading innovative technologies
โ€ข Deep applications expertise
โ€ข Premier productivity partner
โ€ข Comprehensive services offering
Industry-leading scale
โ€ข >70,000 employees globally
โ€ข >$24 billion in annual revenue
โ€ข $1 billion R&D investment
โ€ข Unparalleled commercial
reach and customer access
We are the world leader in serving science
3
We take pride in our Mission
We enable our customers
to make the world healthier,
cleaner, and safer
WHO WE ARE
4
Great mottoโ€ฆ.. If you have nothing to lose https://xkcd.com/1428/
5
Strategic planning is energizing!
6
And it all comes together in a beautiful plan
7
โ€ฆ.then we get busy. We get overwhelmed.
8
How the system is โ€œsupposedโ€ to work
Annual operating
planning
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Strategy
development
Identify strategic
questions
Analyze strategic
questions
Create 5-year
strategic plan
Communicate 5-yr
strategic plan
Complete
pre-work
Multi-project
prioritization exercise
Draft project
plans
Confirm project
prioiritzation
Deploy to
organization
๏ƒพ Alignment &
resources
Strategy
deployment
Plan execution
Review &
adjust
๏ƒŸ Execute project plans ๏ƒ 
๏ƒŸ Monthly strategic business reviews with performance metrics and project plans ๏ƒ 
Team and individual goal-setting
Strategic objectives
Strategic initiatives
Feedback loop
Resource
and funding
requirements
9
Metric Tracking Root Cause
Countermeasures
Strategic Business Plan
Annual Priority Setting Project Plans
Management
Operating Cadence
We need a way to make progress on long-term initiatives
Date:
Resources - "Who"
n Primary Responsibility
o Secondary Responsibility
Additional team members
๏‚PriorityOwners
Division Level X-Matrix
๏‚
Targets to
Improve
๏‚Œ
Long-Term
("Breakthrough")
Strategic Objectives
๏‚
Annual
Strategic
Objectives
๏‚Ž
Top-Level
Improvement
Priorities
10
Annual priority setting โ€” a team sport
Level 1: Division
Priority
l l IoT product line CS m m l m m m m
l l Improve customer experience by investing in support tools CS m m l m m m m m
l l l 2 Create new product family X CS m m m l
l l l 1 Gain entry into new market entry X and Y CS m l m m m m m
Enablenewsupportmodelsthatleveragetechnologies
Cross-sellwithotherbusinesses
DevelopIoTsolutionforrelevantcustomerbase
Developnewproductsforunderservednewmarkets
Growexistingbusinessincurrentlyservedmarkets
Revenuesfromnewmarkets
Customersatisfactionscores
Metricfor#ofcustomerservicecallsthatleveragetechnology
Growthinnumberofcross-selldeals
RevenuesfromIoTproducts
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
ExeutiveLevelLeader
l l l l l l
l l l
l m
l l l
3
Improve our customers experience of working with us
Owner: Divison President Date: 17 Nov 17
Grow revenues from $3B to $5B over 5 year strategy period
Resources
Drive operating margin expansion from 15% to 18.1% over 5 year plan horizon
Primary Responsibility
Expand into underserved new markets
Secondary Responsibility
Annual Priorities: Key
Projects & Capabilities
to Drive the Strategic
Initiatives
5-Year
Strategic/Financial
Objectives
Strategic
Initiatives Targets to Improve
STEP 1:
WHAT?
STEP 2:
HOW FAR
THIS YEAR?
STEP 3:
HOW?
STEP 5:
WHO?
STEP 4:
HOW MUCH?
11
Reality checking the people investment
126 total people engaged
โ€ข 27 people on 2 projects
โ€ข 95 people on 1 project
โ€ข 4 people on 3 or more
โ€ข Average time ~23%
โ€ข Median time ~13%
โ€ข 10 resources >50%
2
12 11 12
9 10 11
27
14
24
18
37
2
11
9
Total annual FTE commitment
2 phases10 Core
12
When things donโ€™t go as plannedโ€ฆโ€ฆ
13
126 total people engaged
โ€ข 27 people on 2 projects
โ€ข 95 people on 1 project
โ€ข 4 people on 3 or more
โ€ข Average time ~23%
โ€ข Median time ~13%
โ€ข 10 resources >50%
Making it stick
February
S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13 14* 15 16 17
18 19 20 21 22 23 24
25 26 27 28
March
S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13* 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
April
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30
January
S M T W T F S
1 2 3 4 5 6
7 8 9 10* 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
Monthly portfolio review for annual strategic objectives
Monthly project reviews, including prior month performance metrics
Quarterly senior leadership deep dives
Project Kick-
offs
14
TMO 5 yr stock trend: A by-product of consistently strong execution
15
Thank you

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Maggie Pax

  • 1. The world leader in serving science Maggie Pax, Vice President, Strategy and Marketing Thermo Fisher Scientific โ€“ Clinical Trials Division Move Fast and Build Things: Turning Strategy into Reality
  • 2. 2 Who we are: Thermo Fisher Scientific Overview Unmatched depth of capabilities โ€ข Leading innovative technologies โ€ข Deep applications expertise โ€ข Premier productivity partner โ€ข Comprehensive services offering Industry-leading scale โ€ข >70,000 employees globally โ€ข >$24 billion in annual revenue โ€ข $1 billion R&D investment โ€ข Unparalleled commercial reach and customer access We are the world leader in serving science
  • 3. 3 We take pride in our Mission We enable our customers to make the world healthier, cleaner, and safer WHO WE ARE
  • 4. 4 Great mottoโ€ฆ.. If you have nothing to lose https://xkcd.com/1428/
  • 6. 6 And it all comes together in a beautiful plan
  • 7. 7 โ€ฆ.then we get busy. We get overwhelmed.
  • 8. 8 How the system is โ€œsupposedโ€ to work Annual operating planning JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Strategy development Identify strategic questions Analyze strategic questions Create 5-year strategic plan Communicate 5-yr strategic plan Complete pre-work Multi-project prioritization exercise Draft project plans Confirm project prioiritzation Deploy to organization ๏ƒพ Alignment & resources Strategy deployment Plan execution Review & adjust ๏ƒŸ Execute project plans ๏ƒ  ๏ƒŸ Monthly strategic business reviews with performance metrics and project plans ๏ƒ  Team and individual goal-setting Strategic objectives Strategic initiatives Feedback loop Resource and funding requirements
  • 9. 9 Metric Tracking Root Cause Countermeasures Strategic Business Plan Annual Priority Setting Project Plans Management Operating Cadence We need a way to make progress on long-term initiatives Date: Resources - "Who" n Primary Responsibility o Secondary Responsibility Additional team members ๏‚PriorityOwners Division Level X-Matrix ๏‚ Targets to Improve ๏‚Œ Long-Term ("Breakthrough") Strategic Objectives ๏‚ Annual Strategic Objectives ๏‚Ž Top-Level Improvement Priorities
  • 10. 10 Annual priority setting โ€” a team sport Level 1: Division Priority l l IoT product line CS m m l m m m m l l Improve customer experience by investing in support tools CS m m l m m m m m l l l 2 Create new product family X CS m m m l l l l 1 Gain entry into new market entry X and Y CS m l m m m m m Enablenewsupportmodelsthatleveragetechnologies Cross-sellwithotherbusinesses DevelopIoTsolutionforrelevantcustomerbase Developnewproductsforunderservednewmarkets Growexistingbusinessincurrentlyservedmarkets Revenuesfromnewmarkets Customersatisfactionscores Metricfor#ofcustomerservicecallsthatleveragetechnology Growthinnumberofcross-selldeals RevenuesfromIoTproducts ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader ExeutiveLevelLeader l l l l l l l l l l m l l l 3 Improve our customers experience of working with us Owner: Divison President Date: 17 Nov 17 Grow revenues from $3B to $5B over 5 year strategy period Resources Drive operating margin expansion from 15% to 18.1% over 5 year plan horizon Primary Responsibility Expand into underserved new markets Secondary Responsibility Annual Priorities: Key Projects & Capabilities to Drive the Strategic Initiatives 5-Year Strategic/Financial Objectives Strategic Initiatives Targets to Improve STEP 1: WHAT? STEP 2: HOW FAR THIS YEAR? STEP 3: HOW? STEP 5: WHO? STEP 4: HOW MUCH?
  • 11. 11 Reality checking the people investment 126 total people engaged โ€ข 27 people on 2 projects โ€ข 95 people on 1 project โ€ข 4 people on 3 or more โ€ข Average time ~23% โ€ข Median time ~13% โ€ข 10 resources >50% 2 12 11 12 9 10 11 27 14 24 18 37 2 11 9 Total annual FTE commitment 2 phases10 Core
  • 12. 12 When things donโ€™t go as plannedโ€ฆโ€ฆ
  • 13. 13 126 total people engaged โ€ข 27 people on 2 projects โ€ข 95 people on 1 project โ€ข 4 people on 3 or more โ€ข Average time ~23% โ€ข Median time ~13% โ€ข 10 resources >50% Making it stick February S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14* 15 16 17 18 19 20 21 22 23 24 25 26 27 28 March S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13* 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 April S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 January S M T W T F S 1 2 3 4 5 6 7 8 9 10* 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Monthly portfolio review for annual strategic objectives Monthly project reviews, including prior month performance metrics Quarterly senior leadership deep dives Project Kick- offs
  • 14. 14 TMO 5 yr stock trend: A by-product of consistently strong execution