Written by Kevin Hampton, Director of Marketing, Kineticos
As I’ve mentioned in previous articles, we’ve now been conducting our Biopharma CEO Confidence Index research for over a year. We’re very pleased with the progress we’ve made since conceptualizing the idea in early 2015 but one thing we pride ourselves on at Kineticos is continuous improvement. We incorporate continuous improvement into many of our client engagements and practice it within our organization as well. With the end goal of strengthening our research, we’re making two material enhancements with our current and future Biopharma CEO Confidence Index studies.
First, we’re broadening our sample criteria. For the first year, CEOs were the exclusive survey respondents. This approach gave us great insight into how the industry was being viewed by those ultimately responsible for the success of their businesses. Starting with the current study, previously referred to as the Q3 study (I’ll get to the “previously” part later), we’re expanding our research to include all biopharma C-suite executives. Two things to point out about this enhancement:
- Because we feel the survey addresses all the important business indicators, we do not plan to make any substantive changes to it. Therefore, our new targets must also have a distinct understanding of several functions within their business. By limiting our research to C-suite executives, we’ll be able to discern their specific disciplines while maintaining a level of exclusivity in our research.
- We recognize that CEOs are unique, given their influence so we will continue to evaluate their responses as the primary segment of our data. However, we will now be able to learn how the confidence levels of CEOs correlates with the confidence levels of other executives who have their own set of challenges, along with a unique perspective.
Second, we are converting our research from a quarterly study to a bi-annual study. We’ve been collecting 50-75 responses per study for the past year and would like to boost those numbers significantly with future studies. Fielding responses for a longer period of time will help increase the N and in turn, increase the statistical significance of our results.
When the Biopharma CEO Confidence Index was conceptualized almost 2 years ago, we were confident that the idea had great potential, but we weren’t sure how long it would take to garner attention from the market. In a short time, we’ve engaged with over 200 biopharma CEOs. Additionally, premier media outlets such as FierceBiotech, and Outsourcing-Pharma continue to publish their own articles pertaining to the key takeaways and implications of our research. I’d consider both of these aspects as tremendous accomplishments!
Even with the amount of success the Biopharma CEO Confidence Index has seen thus far, we recognize that there are ways to improve almost anything we do as an organization. As a boutique management consulting firm, it’s imperative to have subject matter expertise and a strategic mindset but something Kineticos attributes a great deal of our success to is our strong belief in continuous improvement. Enhancing the Biopharma CEO Confidence Index is just one example of how we turn the theory of continuous improvement into practice.
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Kevin Hampton, Director of Marketing, leads Kineticos’ marketing efforts and is focused on building a brand that reflects Kineticos’ deep life science expertise and passion for improving patient outcomes. Mr. Hampton is responsible for the strategy and execution of Kienticos’ thought leadership and lead generation programs and also supports the sales function within Kineticos to ensure objectives remain aligned.