Sep 01, 2005
One of the first phases of the Economic Growth Continuum for Life Sciences companies is Research and Development. After a company has proof of concept for a new technology, how do they validate it? How do they decide where to position it in the market?
"This is an area where bringing in Interim Executives can make a big difference," says Dr. Howard Weintraub, a strategic consultant to Life Sciences companies. Howard specializes in working with companies to determine their strategic direction.
He says, "Financial, infrastructure and strategic direction constraints limit a young company's ability to staff up to the levels to which they aspire. They need to be agile in responding to changes in strategic direction as the process moves forward which speaks to the benefits of hiring interim specialists."
Another perspective that Dr. Weintraub sees is that emerging organizations can neither afford to pay nor occupy executive management on a full time basis. Still, they want the experience that seasoned executives bring to the business.
"Interim hiring is the perfect way to meet all their needs. It keeps costs under control. The company benefits from the knowledge and experience of people who know how to handle a wide variety of situations," says Howard.
There is synergy between the hiring organization and the preferences of available talent too. Interim executives don't necessarily want to commit to a long term horizon. Their focus is on getting a job done.
Dr. Weintraub brings to bear over 30 years experience in R&D management and licensing and acquisition activity for Johnson & Johnson, Bristol-Myers Squibb and C.R. Bard at the director and Vice Presidential level.
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