case study 01[more studies]
A top-3 global pharma company
Identify the most pressing needs in healthcare provision for the next 5-10 years, and develop a strategy portfolio to meet those needs.
Market participants identified and evaluated >30 stra-
tegic priorities germane to the company's healthcare objectives. The market's thinking distilled to two basic categories:
The market concluded that although existing strategic directions are valid, the enterprise could benefit more from (and provide a higher degree of quality service with) a set of innovative, aggressive approaches to healthcare provision. Company management reports that the market produced more valuable intelligence than any existing tool.
competIQ ran a series of healthcare markets, focused on emerging therapies in cancer, cardiology and liver science. These markets, which were extremely successful, identified and vetted the value of new research in some of the most important disease areas in modern medicine. The markets were powered by scientists, investors and healthcare professionals.
One of the participants in the markets was the CEO of a top-3 global pharmaceutical company. After engaging in competIQ's healthcare markets, the CEO chose to deploy competIQ to perform large-scale strategy work for his enterprise.
The client enterprise is one of the largest pharmaceutical firms in the world. It is tasked with one of the most crucial challenges in the healthcare ecosystem: how to identify future demands in pharmaceutical provision, and how to position the company to meet those demands, in both the near- and long-term.
The company has extensive consultant relationships, as well as hundreds of scientists on professional retainer. Alongside those expensive resources, the company wanted to engage a larger stakeholder community, to discover what the community knew, and to model the value of that knowledge.
competIQ worked with the company's senior executives to craft a fundamental question: how to set strategy for the future, how to fit that strategy to the company's mission, and which market realities to consider when formulating a strategy. Then, the market was opened to an inter-
national group of key stakeholders.
The client deemed the competIQ market to be an un-
qualified success; the market's superb output has established competIQ as a core tool in the company's ongoing strategic work.
Each participant averaged nearly 30 minutes per day on the platform – contributing ideas, vetting ideas contri-
buted by others, trading ideas competitively, and proposing pros and cons of the market's intellectual content.
Large volumes of comments and supporting research were harvested from the group, as well is crucial predictive data on the quality of proposed strategies.
The participant pool produced a breadth and quality of intelligence that the company considers unique in its experience. The market's conclusions are positioned to become a key plank in the company's evolving strategy.
And competIQ is now one of the most powerful, and cost-effective, tools in the company's strategic arsenal.
"Awesome...an enormous success."
- CEO, global pharma enterprise