Challenge
A top pharmaceutical company recognized a critical gap in its new managers' skill
sets. While these recently promoted leaders had strong technical and scientific expertise, they lacked the financial and strategic acumen essential for business success. As they stepped into leadership roles, they faced challenges in understanding how their decisions influenced profitability, resource allocation, and cross-functional collaboration.
To prepare these managers for broader responsibilities, the company sought a structured business acumen program that would:
- Build financial literacy to improve decision-making around costs, pricing, and investments.
- Strengthen strategic thinking in areas like R&D funding, go-to-market strategies, and competitive positioning.
- Enhance collaboration across departments, aligning teams on key business goals.
Solution
The company partnered with Advantexe to design a New Manager Business Acumen Program featuring:
- A dynamic business simulation where participants ran a virtual pharmaceutical division, making real-time strategic and financial decisions.
- Hands-on finance workshops covering P&L management, budgeting, and market access strategies.
- Custom-developed "wobbler" events in the simulation help to balance innovation, regulation, and profitability.
The program was delivered virtually
Results
The program had an immediate and lasting impact on the organization’s new managers:- 90% reported greater confidence in financial discussions and strategic decision-making.
- 43% improvement in financial literacy scores, based on pre- and post-program assessments.
- Faster decision-making in budgeting and resource allocation, reducing approval cycle times
One participant shared:
"This program completely changed the way I approach decisions. I now see how financial and strategic choices drive the success of our products and the company as a whole."
By equipping new managers with critical business acumen skills, the company ensured its next generation of leaders could confidently balance innovation, financial performance, and long-term growth in an evolving industry.
