Lessons learnt from the Pfizer vaccine success story as written by CEO Albert Bourla

Albert Bourla CEO Pfizer Inc
  1. Success is a team effort. Every single person in Pfizer BioNTech was instrumental in the development of the vaccine.
  2. It can pay to put purpose first. The mission in mind was to save the world. ROI was never a consideration.
  3. Find a way to make the impossible possible. The challenges were to develop the vaccine with a sixth month time-line and produce and transport at arctic temperatures millions of doses that had yet to be finalized.
  4. When you set a huge goal, you must encourage the out-of-the-box thinking required to achieve it. People brainstormed new options on their own.
  5. Isolated Scientists from financial concerns and freed them from excessive bureaucracy. Our people didn’t need to worry about the budget targets or hitting our annual earnings per share expectations.
  6. The need to embrace cooperation in crisis. Work on Covid-19 with BioNTech began without a financial contract and terms of partnership.

Source: HBR May-June’21

Published by BhaskarChak Bengaluru

Faculty of Marketing and Digital Entrepreneurship. Pharma Marketing Veteran with International Experience. TEDx Speaker

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