Scenario You Are A Business Development Manager Reporting ✓ Solved

Scenario You are a business development manager reporting t

You are a business development manager reporting to the vice president (VP) of business development at one of the largest life sciences organizations in the Midwest. Their latest venture is producing a new cancer drug. The recent clinical trials of the organization’s flagship product have shown great success, and the owners are considering their options for the future. While the organization has shown constant growth and profitability since its inception in 1999, the owners have decided that it is time to sell. Given the current uncertainty in global markets, the board of directors is not convinced that this is the right approach.

While work is underway to find a potential buyer, the VP has called on you to join the strategic planning team to assess the organization's exit strategy and make recommendations to its board of directors. As part of the strategic planning team, you have been asked to make some initial analyses and help plan for the sale of your organization. Your first task is to build a guiding coalition; that is, identify the people in the organization who can shape, guide, and sustain the change effort of selling the organization. You will send your recommendations and rationale to the VP. Identifying people who can effectively lead the change initiative is an important first step.

These individuals have the leadership and social skills to ensure that the change effort is communicated throughout the organization; as well, they will report back to the team what employees are saying about the change. Use the organizational chart and the employee personas provided to guide your selection of the guiding coalition for the organization in the scenario.

Specifically, you must address the following: 1. Recommendation: Use the organizational chart and the personas to identify people who should be part of the guiding coalition. 2. Rationale: Justify your choice of guiding coalition team members. Your responses should address the following for each individual you recommend for the coalition: a. What is the person’s title and how many people do they manage? b. How long has each person been with the organization? c. What area(s) of the organization does this person influence? d. What is your rationale for choosing the person? e. What role will each person fulfill as a member of the guiding coalition? 3. Team-building strategies: Describe activities and strategies you will introduce to build a well-functioning team.

Paper For Above Instructions

The process of transitioning a life sciences organization through a sale is not merely a matter of financial transactions; it requires a thoughtful evaluation of the human resources involved, particularly those who will support and guide the change initiative. In the context of the scenario provided, this report aims to establish a guiding coalition—an essential step in securing a successful transition.

Recommendation for Guiding Coalition

Based on the provided organizational chart and employee personas, I propose the following individuals for the guiding coalition:

• Dr. Susan Carter, Chief Medical Officer (CMO)Dr. Carter oversees a team of 15 researchers and has been with the organization since its inception in 1999. She influences clinical operations and has substantial authority over research direction. Dr. Carter's strong background in oncology and her commitment to the company’s vision make her invaluable during this transitional phase. As a member of the guiding coalition, she will play a critical role in ensuring that the scientific efficacy of the new cancer drug remains a priority while selling the organization.
• Michael Tran, Director of SalesMichael leads a team of 10 sales representatives and has been with the organization for five years. He influences the firm’s market strategy, product positioning, and customer relationships. His experience and expertise in building rapport with clients will be crucial for articulating the benefits of the organization to potential buyers. In the coalition, he will serve as the liaison between the sales team and the strategic planning team, ensuring seamless communication.
• Linda Smith, Human Resources ManagerLinda manages a team of 5 HR professionals and has spent 8 years with the organization. Her role involves shaping workplace culture and overseeing employee engagement initiatives, making her a vital figure for maintaining employee morale during the transitional process. She will work to address employee concerns and support retention, crucial aspects that potential buyers will scrutinize. In the coalition, Linda will focus on internal communication strategies.
• Tom Hargrove, Chief Financial Officer (CFO)Tom has been with the organization for four years and manages a team of 7 finance professionals. He wields significant influence over budgeting, funding, and investment strategies, which will be essential when exploring sale opportunities. His financial acumen will help provide a clear picture of the organization’s monetary worth during negotiations. He will act as the coalition's financial strategist.

Rationale for Coalition Members

Each recommended member has distinct characteristics and backgrounds that enhance their suitability for the guiding coalition:

• Dr. Susan Carter: Her extensive experience and pivotal role in the research arm ensure that the integrity of the product is upheld through the sale. Her leadership qualities and exceptional communication skills will inspire confidence within the team and stakeholders.
• Michael Tran: His ability to build relationships with clients and engage with potential customers makes him an essential candidate. His influence on market perceptions will allow him to articulate the organizational vision and enhance buyer engagement.
• Linda Smith: She is adept at creating a supportive workplace environment, essential during times of uncertainty. Her role in addressing employee sentiments will help ease transitions and maintain productivity—a crucial factor during the sale.
• Tom Hargrove: His analytical capabilities and financial oversight will offer insights about the organization’s worth and guide the negotiation process. His ability to make data-driven decisions will be invaluable for aligning the coalition's direction.

Team-Building Strategies

To ensure the coalition functions effectively, several strategies and activities will be implemented:

• Alignment with Change Strategies: Convene regular meetings to discuss expectations and objectives, ensuring coalition members are aligned with the organization’s overarching mission. Joint workshops focusing on the implications of the sale will be organized to reinforce shared goals.
• Establishing a Sense of Urgency: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to outline the landscape of the life sciences industry, fostering urgency for swift and pragmatic action in the sale process. Real-life case studies of successful and failed acquisitions will serve as discussions to underline the importance of proactive planning.
• Building Trust: Implement team-building exercises focusing on communication and collaboration to foster relationships within the coalition. Regular informal gatherings, such as lunches or team outings, will help coalition members develop rapport, contributing to a cohesive and trusting environment.

Conclusion

The selection of a capable and diverse guiding coalition is paramount to navigating the complexities of selling a life sciences organization. By identifying individuals with significant influence and commitment, and by fostering team dynamics, the guiding coalition can effectively lead the organization through this transitional phase while addressing both internal and external stakeholder concerns.

References

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