“The Business of Breakthroughs: Optimizing Scientists’ Contributions to the Commercial Enterprise”

  • Get inside the mind of a scientist working in a commercial enterprise
  • Examine the competencies of business-minded scientists
  • Discover best practices for tapping in to scientists’ business potential

Everyone throughout a health science company shares a common goal: to create drugs and therapeutic innovations that strengthen the quality and length of life for millions of people.

Commercial success requires both good science and good business. However, due to the specific nature of their work, different departments see things form different perspectives.

This paper is not about how scientists can be better in their scientific pursuits.

This paper uncovers the challenges associated with expanding scientist’s business understanding and contributions, and further explores best practices for helping companies manage the integration of scientists into the commercial enterprise.

Challenges faced by health sciences companies today – including globalization of markets, technology, mergers and acquisitions, domestic regulations, and competition – mean that now more than ever it is critical for the commercial enterprise and scientists to understand one another so they can face these challenges together.

“The Business of Breakthroughs: Optimizing Scientists’ Contributions to the Commercial Enterprise” is a white paper researched and written by Lake Forest Corporate Education.

This paper features insights from over 20 in-depth interviews and multiple focus groups with senior executives and R&D scientists – scientist leaders, scientist managers, and bench scientists – from leading national health sciences corporations.

The LFCE study revealed three best practices – including four critical competencies – for health science companies to implement to achieve greater success in today’s global, competitive environment.

This paper also includes recommendations for different development approaches at differing stages of scientists’ careers.

Integrating scientists into the commercial enterprise is not without its challenges. But organizations that succeed will improve loyalty and retention of their scientists, grow the scientists’ value within the business, and find themselves celebrating greater organizational success.