Straight From the Top96bda424cfcc34d9dd1a-0a7f10f87519dba22d2dbc6233a731e5.r41.cf2.rackcd… ·...
Transcript of Straight From the Top96bda424cfcc34d9dd1a-0a7f10f87519dba22d2dbc6233a731e5.r41.cf2.rackcd… ·...
Straight From the Top Steve Smith
Thank You
• The Morrisville Chamber for their community support and efforts to create a positive business environment
• For your leadership, community involvement and support
• Carlotta Ungaro for her outstanding leadership of the Chamber
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Agenda
• Catalent Overview & Lunch
• Straight from the Top
− Some Basic Background
− A Few “Experiences”
− Synthesis of Lessons Learned & Philosophies
• Tour
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Catalent Overview
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Catalyst + Talent. Our name combines these ideas.
From drug and biologic development to delivery technologies to
supply solutions, we are the catalyst for your success. Whether you
are looking for a single, tailored solution or multiple answers
throughout your product’s lifecycle, we can improve the total value
of your treatments—from discovery to market and beyond.
Catalent. More products. Better treatments. Reliably supplied.
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WHY CATALENT? Unrivaled experience, deepest expertise, and a track record of market success on a global scale.
We serve 49 of the top 50 pharmaceutical and 36 of the top 50 biotech companies as the world’s #1 delivery, development and supply partner*
We operate 20+ global sites across 100+ markets
We create expert solutions from over 1,000 scientists
We support 40% of recent new U.S. drug approvals
We manufacture or package 100 billion units annually
We are the industry leader in drug delivery technology
We use a multi-faceted approach to improve bioavailability, therapeutic profiles and patient adherence
We provide end-to-end biologics technologies, from gene expression to fill/finish
* source: United Nations World Investment Report, 2011
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Catalent’s market-leading offerings
ORAL TECHNOLOGIES
#1 in advanced technologies for oral delivery of drugs, biologics and consumer health
STERILE TECHNOLOGIES
#1 in blow-fill-seal for drugs and biologics, #2 in prefilled syringe fill/finish
DEVELOPMENT & CLINICAL SERVICES
#1 integrated provider, #2 in respiratory, Now #2 with acquisition
PACKAGING SERVICES
Leader in commercial packaging for oral and injectable drugs and biologics
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The World Has Changed… And Will KEEP Changing
Yesterday Today
Predictable economies Global Tilt
Financial stability Financial uncertainty
Emerging markets Growth markets
Increasing demand Healthcare austerity
Blockbuster drugs Unpredictable launches
R&D investment R&D as an expense
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Once A Ranger, Always a Ranger Or, any position other than first is a tie for last
Straight from the Top
Confessions
1. The “South” had the best generals
2. NC vs. KS barbecue – tie for 1st
3. Nearly every person at this site is smarter than I am
4. We assume our competitors are at least as good as we are
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I won’t even touch the basketball rivalry thing
Career Pathway “You don’t have to be the expert…and dumb luck doesn’t hurt”
U.S. Army
Corning
PPD INC
Catalent
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US Oncology
Combat officer Ranger
Engineer Manufacturing
Int’l JV Management Strategy
Strategy M&A CFO
Division VP
VPGM
Global BU head
From really big…to smaller organization From government to telecom to pharma Several sacrifices to get here Never turned down a job offer
Career Transitions
The more experience you acquire, the more you build decision expertise/acumen with context
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Background - Family
• Small Town Colorado – our priorities were “typically”…
Farming
Football
Church
School
• Brady Bunch (six children) – 2nd youngest
• First to go to college
• Work Hard, Play Hard
• Family emigrated from Germany at turn of century (relative was founder of KC stock yards)
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Smith Family – 5 kids living in Wake Forest – apple doesn’t fall far from the tree!
Background School Never Saw a Challenge I didn’t Like
Valedictorian – 4.0 GPA
International science fair – Houston
Sports letters
• Football – all conference
• Basketball
• Baseball
College course(s)
• Organic chemistry – top grade
Colorado outstanding student of the year – senior
Multiple scholarships
• Nominated to U.S. Military Academy, State of Colorado (1 of 10)
• Appointed early to U.S. Military Academy (1 or 2)
• B.S. Aerospace Engineering (dean’s list)
• Distinguished 4-class (plebe) cadet
• Company Commander (1 of 4)
• Cadet captain, regimental staff officer (1 of 4 in Corps of Cadets)
• Varsity Football
• Corps Runner-up – Basketball
• Freshman boxing
High School College
West Point – A Transformation Mental Toughness, Thinking on your feet, Accountability
• Never set foot on campus before “R-Day”
• Academics: 21-22 semester hours per term
• Well Rounded: Everyone is an engineer and an athlete
• Time: Every minute from 5AM to 11PM was planned and used
• Honor Code: If you got an “idea” from a roommate, you documented it with a footnote
• Discipline: Memorized front page of NYT every morning for a year
• Thrown into successive leadership roles from bottom up
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Rangers What Did I Get Myself Into?
• Ranger’s Lead the Way – shock troops of SOC
• Roughly 30% (or higher) fail rate
• Train and work in Mountain, desert, jungle conditions (no sleep, little food, intense missions)
• No Ranger Left Behind Ethos
• Fight back-to-back (Ranger Buddy)
• Rapid decision-making (OODA loop)
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You test the limits of physical, mental and emotional strength, and then must force yourself well past them.
Overcoming Challenges Too Naïve to Fail
• Cut off cast for broken ankle to attend Paratrooper School – Re-fractured during jump, duck taped, and graduated 1st in my class.
• Jumped into the desert in below freezing temperatures, 2 feet of snow, no shelter, no food, executed an assault after 25% of jumpers were hurt.
• Ran Marathon – no prior training/prep – finished 2nd in age group.
• Ran 1st Triathlon – no prior prep, finished 2nd.
• Took over ailing oncology division, no oncology experience, turned it into the most profitable and growing business unit.
• Lived in Russia to form and start an optical cabling JV.
Lessons Learned & Leader Philosophy
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Breakthrough Change
Current Performance
True Potential
Fear of Change
Perceived Entitlement
Dogmatism
Poor Two-Way Communication
Unclear Goals
Lack of Emotional Courage
Product Development
HR
Operations
Finance
Marketing/ Sales
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Bureaucracy…Politics
A Device For Turning Energy into Solid Waste
(anon)
Let’s Work Smarter…Not Just Harder
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THE MAXIMUM EFFECTIVE RANGE OF A COMPLAINT…WITHOUT A
SOLUTION…IS
Zero Meters!
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Culture of Execution
Symptoms
• Missed Delivery Dates
• Cost overruns
• Not candid with customers
• Blame others
• Won’t ask for help
• Silent in face of challenges
• Do not rise to the occasion
So…what do we do about it!
Assess competencies and Talent
Put right people (leaders) in right jobs, replace cynics
Improve poorly designed systems and processes
Remedy distrust and disbelief
Brutal honesty
Open communication
Causes
• Lack of perceived (real) consequences for missing commitments
• Influential employees play politics
• Contrary goals and objectives
• Disconnected from day-to-day operations
• Ineffective follow-through
Personal Rule Sets
• Do something first, then come tell me what you’ve done
• One pager – if you can’t fit it on one page, you haven’t thought it through
— Always include three options, recommendation, why
• A good decision fast is better than a great decision later
— If it is a bad decision, we will make a better one, just don’t let it be fatal
• Do your job as if you are already fired (dead) – no fear
• Use the OODA loop – Observe, Orient, Decide, Act
• Going up river with ten studs is better than 100 assh****
• Mission first, people always (it is a business)
• Be ready for the “Fork in the road”: Be or Do
• Be willing to bet your career on doing the right thing for someone or some important thing, not just yourself
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How Do We Win?
• Demonstrating leadership and taking accountability
• Hiring and developing the best people
• Linking strategy & tactics to execution
• Avoid time wasters through quality execution
• Innovating and continuous improvement of processes
• Disciplined financial management
• Thinking and acting like a world-class analytical business (not just a collection of buildings)
Not Just a Collection of Buildings
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CHANGE
Because That’s The Way We’ve Always Done It!
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Bring Forward The Good…Embrace the New
Bring Forward
• Excellence in science and compliance
• Take your work seriously, not yourself
• No work politics or hidden agendas
• Your name is on it
• Constant scanning and immediate action and resolution
• Desire for success
Culture of Execution – Getting Things Done
Embrace
• We are growing and we can’t afford to have complacent leaders and tolerate indifference
• No more “silos”
• We must have processes and systems that function, make our jobs easier and give us access to timely, accurate data.
• Reward the “doers”
• Candid, open communication
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Some Favorite Thoughts Read History
Do not repeat the tactics which have gained you one victory, but let your methods be regulated by the infinite variety of circumstances.
Sun Tzu c. 490 BC, Chinese military strategist
Doctrine, if left unchallenged, turns into dogma, and you can never change it.
Colonel John Boyd, USAF
Management is efficiency in building the ladder; leadership determines whether the ladder is leaning against the right wall.
Stephen Covey
Continuous Improvement
Challenge Conventional Wisdom
Leadership v. Management
Iron Laws of Strategy
1. Strategy is our theory of action to win combined with our plan to execute (people, process, technology investments)
2. All Growth Ends
3. Everyone gets it right in the long run
4. A+ execution with a B+ plan always wins
5. Competitors are at least as smart as we are
6. You can’t turn pixie dust (bad strategy) into gold dust (good strategy)
11/17/2014 CONFIDENTIAL: {OFFERING} FY14-18 Growth Plan
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People Development
• Before hire outside, hire inside
• Stretch peoples skills and learning
• Demand internal slate
• Take inside with 50% of skills versus outside with 100% skills
Have Hard Goals for People Development
How many internal
candidates did you
interview?
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Law of Conservation of Energy You have to Save Yourself
Energy Level +
-
+ Energy Quality
Performance Zone
Renewal
Survival
Burnout
Constant Demand
No renewal
Intermittent bursts of high quality energy,
sustained over time.
Sustained reaction to competing demands without renewal
Inability to feel success and get ahead of the game with no hope
for relief
Take time to renew physically, emotionally, mentally, spiritually
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We Are All Growth Leaders
• Intense curiosity searching for new insights every day
• Continuously explore new markets and ideas to find good business models
• Courage to take risk and endure failure
• Internal actions driven by external needs
• Get big people into big jobs
• Create alignment – performance metrics and targets
• “Lock it In” – G&Os
• Develop a list of jobs that create value
• Think big…move fast
People -> Ideas -> Process -> Technology
Thank You
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discover more. CATALENT PHARMA SOLUTIONS 160N Pharma Drive
Morrisville, NC 27560
www.catalent.com