Life Science Rabbit Hole #13: The Big Wheel

The Big Wheel: Aligned & Effective Leadership

The title of this edition, “The Big Wheel”, is a play on words with an underlying message.?

The top executives at any company are indeed Big Wheels - they’re powerful and influential.?

The Big Wheel imparts a multiplier effect on the entire organization

However, analogizing to a train of gears, where the Big Wheel is the driving gear, the Big Wheel imparts a multiplier effect on the speed of the smaller gears connected to it, which then multiply the speed of the still smaller wheels connected to them, and so on throughout the entire organization.? The performance of the Executive Team governs the performance of the entire organization.?

This doesn’t only apply to the top team.? It applies equally well to functional leadership teams, such as the CFO’s leadership team, the Clinical leadership team, the IT leadership team, and so forth.

Let’s also remember that leadership alignment and effectiveness isn’t a once-and-done topic.? As we discussed in Life Science Rabbit Hole #7: 5 Key Challenges Facing Pre- and Early Commercialization Life Science Companies, your situation is changing quarter by quarter and year by year.? Even if everything was great 12-18 months ago, as you look again with fresh eyes, what do you see?

How aligned and effective is your leadership team?

I suggest you consider these factors.

Interpersonal dynamics.? Do the leadership team members trust each other? Do they believe their colleagues are capable? ?Does the team culture permit a passionate, open argument in the service of the mission?? Do they know each other and have a personal connection?? Does everyone contribute?? Are they each leading from their personal values and commitments?

Alignment.? Have they clarified the company priorities?? Do all executive team members understand priorities at a granular level sufficient to realize and agree to the implications? Do they engage on all priorities, not just the ones in their function?? Do they “own the whole”, i.e., do they hold themselves accountable for the promised results of the entire organization?? Once the debate is over and the decision is made, do they actively support the decision all the way down down their organization, even when the decision isn’t the one they advocated?

Operational Effectiveness.? Executive team time is valuable and scarce.? It shouldn’t be squandered.? Has the team clarified what decisions they make as a team vs. decisions they can make individually as leaders of their organizations?? Does the executive team set agendas proactively based on the strategy and strategic roadmap, critical execution issues requiring resolution, key calendar events such as important industry conferences or earnings releases, etc.?? Do they ensure their decisions are informed by facts & pre-reads?? Do presenters know what is expected of them at a leadership team meeting? ?Does the team have someone responsible for keeping meetings on track?? Are executive team decisions written and communicated?? Do they retain information in a repository to inform future decisions and enable new executive team members to get up to speed?

Improving Leadership Team Alignment and Effectiveness – What is At Stake

If you’re reading this article, you are probably a participant in the broader life science ecosystem.?

That means you are probably committed to advancing human health and well-being.?

You probably intend for your organization to operate with a culture of collaboration, integrity and excellence.?

You never forget that patients and their loved ones are waiting.

How is your “Big Wheel” performing?? Is your leadership team leading by example??

What would be possible with a truly aligned and effective leadership team?

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I hope you enjoyed this edition of Life Science Rabbit Hole.? As always, your comments and suggestions are welcome.