Florence Joffroy-Black and Dave Sheppard, MedWorld Advisors09.14.21
When the pandemic hit last year, there was never a doubt that international travel would be difficult for quite some time. But the vaccines promised a hopeful return to global treks (on an as-needed basis, of course).
Now, two-thirds of the year is gone and it’s still challenging to travel internationally. While some countries—mostly in Europe—are allowing cross-border journeys to vaccinated travelers, many Asian countries are banning entry to non-nationals, even those who have been inoculated. Furthermore, it’s become extremely problematic for foreigners (including business folks) to enter the United States.
Such stringent travel restrictions have made it difficult for C-Suite executives to manage a global medical technology business when they cannot visit their worldwide operations/teams. Similarly, it is easy for international employees who cannot travel to America for business meetings or conferences to feel alienated from the team. New digital tools like Zoom, Google Meet, and Teams are helping global companies keep the lines of communication open, but tools alone can’t manage operations. Thus, C-Suite executives must find other, more creative ways to ensure their worldwide corporate objectives are staying on track.
It is imperative for management teams to conduct regular “functional check-ups” on all operational activities that are impacted globally. This may seem obvious but busy business leaders can easily become preoccupied with the daily “alligators” that may be affecting their ability to perform. Most companies presumably are continuing to observe their management metrics to ensure their business is at a high level and tracking to their KPIs (key performance indicators); these organizations, however, must take their observations to the next level to properly manage the organizational departments impacted by the lack of direct interaction with their commanders around the world.
The functional areas that may be impacted include sales, marketing, manufacturing, supply chain, quality and regulatory, and R&D. Some thoughts on how to perform “functional check-ups” in these organizational areas follow.
Sales: Call customers in various regions of the world. Before COVID-19, one of the primary roles of C-Suite executives was to meet key customers during their international travels. Meeting with customers is still possible, thanks to Zoom. However, a team call with management and its team on one end and the customer and its team on the other is not recommended. A far more effective and personal alternative is a direct one-on-one Zoom, Teams, or direct phone call, with no influence by associated parties on either side (prep is okay, though). Either specifically timed or at random, C-Suite executives should find a way to “get direct” and “get real” on a one-on-one basis with the appropriate critical customers worldwide. Such a personal touch is beneficial for both parties: Customers will appreciate the attention, and managers will gain valuable insight from what they learn on the ground directly from clients.
Marketing: Most companies are consistently monitoring their marketing activities, budget, etc. However, the current online or hybrid marketing climate can make it difficult for organizations to obtain the “real” data they need to ensure their marketing efforts (and team) are heading in the right direction. For example, in 2019, C-Suite executives likely attended several major trade shows to meet key customers, oversee marketing activities, and obtain market landscape information from both personal observation and direct interactions from reliable trade sources. But this year is different. Some events are still virtual, others are live, and some are a hybrid mix, leaving firms several options. Depending on the company and the timing, some organizations may choose to attend online events while others prefer third-party shows. For a true functional check-up in this area, companies should request a trusted industry “friend” (could be a customer, or a former colleague at a non-competitive company, or retired industry professional) “show-up” and objectively assess (1) its marketing efforts to determine how the organization is perceived; and (2) whether the company’s activities can be considered best in class for a particular market segment. Creatively finding a way to obtain objective “on the ground” information can be an invaluable decision-making tool.
Manufacturing: Companies that haven’t already put video in their manufacturing plants should do so now and purposefully schedule random times to directly monitor activities for certain periods. Managers should simply observe and take notes and then ask questions of their production teams periodically based on their observations. This is different than KPI reviews. These video reviews should be treated similar to traveling in person to a manufacturing site and going on the floor to review production. Also, companies should think about randomly having a one-on-one video call with a manufacturing team member on the ground. Use that time to ask, listen, and learn. Employees will appreciate that management is paying attention and the recognition they may receive when great people are found doing great things. Separately, if there’s been an audit recently in an international facility where travel is currently restricted, management should call the auditor for insights. They should do more than read what’s in the report; they should get real observations from someone who is experienced reviewing medical technology operations. Companies may be surprised (pleasantly or otherwise) by what they learn from these observations.
Supply Chain: While medtech organizations are more than likely monitoring the metrics of their supply chains, they may find it useful to periodically contact several key vendors directly on a one-on-one basis. Like the manufacturing inputs, these suppliers are experienced and often have key industry insights that may be beneficial and unbeknownst to management. As forthcoming as some employee teams can be, sometimes they may assume members of the C-Suite already know about an issue, or they simply don’t want to bother upper-level executives with “on the ground” details that may seem trivial (but nevertheless important).
Quality and Regulatory: In the times of consistent international travel, C-Suite leaders often received regular updates on local, regional, and international issues that either currently impacted the business or could impact the company’s ability to conduct future business. While receiving updates through management meetings was (and is) useful, it’s easy to forget how much anecdotal information was received in this area on a regular basis. To replace that knowledge during these times, companies should find time to occasionally call a local/regional regulatory leader for an open conversation. Keep it separate from KPI discussions. Simply ask, listen and learn. Management may or may not learn anything critical on the regulatory topic but they’ll certainly learn a lot about their global team through this process.
R&D: Like the other functional areas, find ways to connect directly with key engineers in the organization on a one-on-one basis. Again, separate from management meetings and KPI reviews, find ways to have conversations with the people that are developing innovations internationally. Ask them about opportunities and their roadblocks. Getting personal in these conversations may yield some surprising answers.
In summary, use these challenging times to devise creative ways to gain critical business data “on the ground.” This is not to suggest that C-Suite executives should not trust their teams. In fact, it’s just the opposite. Great leaders find ways to help their teams be more successful. By finding ways to stay real on what’s truly happening in the United States or internationally (even when travel is extremely limited), management will find ways to both constructively push their teams and use the resources of their office to help employees be more successful.
Florence Joffroy-Black, CM&AA, is a longtime marketing and M&A expert with significant experience in the medical technology industry, including working for multi-national corporations based in the United States, Germany, and Israel. She currently is CEO at MedWorld Advisors and can be reached at florencejblack@medworldadvisors.com or at www.medworldadvisors.com.
Dave Sheppard, CM&AA, is a former medical technology Fortune 500 executive and is now focused on M&A as a managing director at MedWorld Advisors. He can be reached at davesheppard@medworldadvisors.com.
Now, two-thirds of the year is gone and it’s still challenging to travel internationally. While some countries—mostly in Europe—are allowing cross-border journeys to vaccinated travelers, many Asian countries are banning entry to non-nationals, even those who have been inoculated. Furthermore, it’s become extremely problematic for foreigners (including business folks) to enter the United States.
Such stringent travel restrictions have made it difficult for C-Suite executives to manage a global medical technology business when they cannot visit their worldwide operations/teams. Similarly, it is easy for international employees who cannot travel to America for business meetings or conferences to feel alienated from the team. New digital tools like Zoom, Google Meet, and Teams are helping global companies keep the lines of communication open, but tools alone can’t manage operations. Thus, C-Suite executives must find other, more creative ways to ensure their worldwide corporate objectives are staying on track.
It is imperative for management teams to conduct regular “functional check-ups” on all operational activities that are impacted globally. This may seem obvious but busy business leaders can easily become preoccupied with the daily “alligators” that may be affecting their ability to perform. Most companies presumably are continuing to observe their management metrics to ensure their business is at a high level and tracking to their KPIs (key performance indicators); these organizations, however, must take their observations to the next level to properly manage the organizational departments impacted by the lack of direct interaction with their commanders around the world.
The functional areas that may be impacted include sales, marketing, manufacturing, supply chain, quality and regulatory, and R&D. Some thoughts on how to perform “functional check-ups” in these organizational areas follow.
Sales: Call customers in various regions of the world. Before COVID-19, one of the primary roles of C-Suite executives was to meet key customers during their international travels. Meeting with customers is still possible, thanks to Zoom. However, a team call with management and its team on one end and the customer and its team on the other is not recommended. A far more effective and personal alternative is a direct one-on-one Zoom, Teams, or direct phone call, with no influence by associated parties on either side (prep is okay, though). Either specifically timed or at random, C-Suite executives should find a way to “get direct” and “get real” on a one-on-one basis with the appropriate critical customers worldwide. Such a personal touch is beneficial for both parties: Customers will appreciate the attention, and managers will gain valuable insight from what they learn on the ground directly from clients.
Marketing: Most companies are consistently monitoring their marketing activities, budget, etc. However, the current online or hybrid marketing climate can make it difficult for organizations to obtain the “real” data they need to ensure their marketing efforts (and team) are heading in the right direction. For example, in 2019, C-Suite executives likely attended several major trade shows to meet key customers, oversee marketing activities, and obtain market landscape information from both personal observation and direct interactions from reliable trade sources. But this year is different. Some events are still virtual, others are live, and some are a hybrid mix, leaving firms several options. Depending on the company and the timing, some organizations may choose to attend online events while others prefer third-party shows. For a true functional check-up in this area, companies should request a trusted industry “friend” (could be a customer, or a former colleague at a non-competitive company, or retired industry professional) “show-up” and objectively assess (1) its marketing efforts to determine how the organization is perceived; and (2) whether the company’s activities can be considered best in class for a particular market segment. Creatively finding a way to obtain objective “on the ground” information can be an invaluable decision-making tool.
Manufacturing: Companies that haven’t already put video in their manufacturing plants should do so now and purposefully schedule random times to directly monitor activities for certain periods. Managers should simply observe and take notes and then ask questions of their production teams periodically based on their observations. This is different than KPI reviews. These video reviews should be treated similar to traveling in person to a manufacturing site and going on the floor to review production. Also, companies should think about randomly having a one-on-one video call with a manufacturing team member on the ground. Use that time to ask, listen, and learn. Employees will appreciate that management is paying attention and the recognition they may receive when great people are found doing great things. Separately, if there’s been an audit recently in an international facility where travel is currently restricted, management should call the auditor for insights. They should do more than read what’s in the report; they should get real observations from someone who is experienced reviewing medical technology operations. Companies may be surprised (pleasantly or otherwise) by what they learn from these observations.
Supply Chain: While medtech organizations are more than likely monitoring the metrics of their supply chains, they may find it useful to periodically contact several key vendors directly on a one-on-one basis. Like the manufacturing inputs, these suppliers are experienced and often have key industry insights that may be beneficial and unbeknownst to management. As forthcoming as some employee teams can be, sometimes they may assume members of the C-Suite already know about an issue, or they simply don’t want to bother upper-level executives with “on the ground” details that may seem trivial (but nevertheless important).
Quality and Regulatory: In the times of consistent international travel, C-Suite leaders often received regular updates on local, regional, and international issues that either currently impacted the business or could impact the company’s ability to conduct future business. While receiving updates through management meetings was (and is) useful, it’s easy to forget how much anecdotal information was received in this area on a regular basis. To replace that knowledge during these times, companies should find time to occasionally call a local/regional regulatory leader for an open conversation. Keep it separate from KPI discussions. Simply ask, listen and learn. Management may or may not learn anything critical on the regulatory topic but they’ll certainly learn a lot about their global team through this process.
R&D: Like the other functional areas, find ways to connect directly with key engineers in the organization on a one-on-one basis. Again, separate from management meetings and KPI reviews, find ways to have conversations with the people that are developing innovations internationally. Ask them about opportunities and their roadblocks. Getting personal in these conversations may yield some surprising answers.
In summary, use these challenging times to devise creative ways to gain critical business data “on the ground.” This is not to suggest that C-Suite executives should not trust their teams. In fact, it’s just the opposite. Great leaders find ways to help their teams be more successful. By finding ways to stay real on what’s truly happening in the United States or internationally (even when travel is extremely limited), management will find ways to both constructively push their teams and use the resources of their office to help employees be more successful.
Florence Joffroy-Black, CM&AA, is a longtime marketing and M&A expert with significant experience in the medical technology industry, including working for multi-national corporations based in the United States, Germany, and Israel. She currently is CEO at MedWorld Advisors and can be reached at florencejblack@medworldadvisors.com or at www.medworldadvisors.com.
Dave Sheppard, CM&AA, is a former medical technology Fortune 500 executive and is now focused on M&A as a managing director at MedWorld Advisors. He can be reached at davesheppard@medworldadvisors.com.
