This top 10 Biopharma company wanted to revamp one of their leadership development programs for high potential Directors. Key objectives were to develop strong finance and strategic acumen skills while providing an enterprise-wide understanding and mind-set. Another objective was to create strong peer-level, cross-functional networks and collaboration opportunities.
StratX ExL worked with the client to design and deliver a 3-day experiential learning module. It featured the enterprise strategy scenario of the CentrX Biopharma simulation. Participants worked in cross-functional teams, managing a fictitious biopharma company in a realistic and competitive market place. Teams make cross-functional decisions including R&D, Operations and Commercial. They hone their finance and executive presence skills via a Mock analyst call where they pitch their strategy and give earnings guidance for their simulated company to a panel of executives playing the role of analysts. The program is also an opportunity for participants to reinforce their soft skills. They agree on high performing team rules at the outset and give each other feedback on their leadership behaviors during the workshop.
Participants get a lot from this experiential learning approach, both in terms of business and finance acumen and in terms of appreciating with a sense of urgency the impact of effective teamwork. The program has now been delivered for over five years to over 300 cross functional directors. Several past participants have brought StratX Exl with them to parts of their organization to help develop their own teams.
“Relevant and useful simulation; I learned a great deal about finance, marketing and making strategic decisions. I found it easy to be engaged the entire 3 days due to the way the program was set up with mix of simulation, networking/relationship building and executive speakers.”
“Strategic approach to a company management through the simulation stimulated my sense of prioritization on my current job.”
“Working together on this very realistic simulation enabled very good learning opportunities and networking.”