As a leader, you know that success in business is not just about making the right decisions, but also about making them quickly. In today’s fast-paced world, time is of the essence, and the ability to act swiftly and decisively can often mean the difference between success and failure.
This is why the story of the new CXO who went from a new hire to a successful top leader in just 50 days is so compelling.
The challenge facing the 125 FTE biotech company was significant. The company had entered into several high-profile partnerships with Big Pharma companies but was struggling to deliver on its promises due to a lack of collaboration between Research and Development. With the company’s investors and stakeholders expecting results, the board brought in a new CxO to reconnect the two business units and deliver on the external promises made.
The new CxO had just 90 days to deliver a credible plan, but with the help of Innovisor, he was able to gain invaluable insights into the organization before his first day on the job.
Innovisor’s Organizational Network Analysis (ONA) provided the CxO with key information on who the key influencers were, how priorities and strategic direction were perceived in Research and Development, which employees held critical positions in the collaborative network, and how the company compared to best-in-class benchmarks.
With these insights in hand, the new CxO was able to hit the ground running.
He spent the first 10 days engaging with the identified key people, along with key members of his leadership team.
Then, after synthesizing his initial thoughts, he shared his findings with the board, who confirmed and added context.
Next, he brought the core team together with his key leaders for a two-day workshop, where he framed the overall plan and they filled in the details.
Thanks to this approach, the plan was approved by the board after just 50 days – a full 40 days ahead of schedule. The CxO then shared the plan with the four key influencers to help drive its successful implementation.
The lesson for leaders is clear:
when you have the right insights, you can act with greater confidence and speed.
With the help of Innovisor’s tailored solution, the new CxO was able to quickly gain a deep understanding of the organization and its challenges, which allowed him to make informed decisions that drove results. By embracing the power of data and insights, leaders can overcome even the most significant challenges and achieve success in record time.