Strategic Benchmarking in Pharma Business

Benchmarking undertaken in most organisations is Competitive Benchmarking where you adopt best processes and practices followed by leading organisations in your industry or your competitors

While this works well, the learnings however are limited only to the best practices adopted in your industry or by your competitors.

You may miss out some best industry practices adopted by other industries which may be also relevant for your industry

Strategic Benchmarking is when you are introducing best practices adopted by successful companies inside and outside your industry.

Progressive pharmacos need to undertake Strategic Benchmarking as pharma industry is now becoming strategically even more competitive than ever before and market dynamics are changing

Moreover pharma industry is now crossing roads with other industries which was not the case few years back.

Some progressive pharma companies are even hiring talent from other industries.

Great times ahead as pharma industry is undergoing metamorphosis and organisations need to change to remain competitive.