3. Shifted focus. When a company is reorganized, more often than not, Nader says, people focus on the organizational structure, but “in my experience, what makes success is not what we’re doing, it’s how we’re doing it. The how can be translated into values and the values become the culture of the company.”
4. Created a culture of values. The new NPS Pharma focused on six core values: integrity, respect, reliance on excellence and teamwork. “We had experts, but we needed them to work together,” he says. “We didn’t want any Madonnas.” In the end, they added a seventh value: “fun,” because Nader felt people needed to enjoy what they were doing.
5. Maintained brand consistency. “NPS” used to stand for Natural Product Science. That name was eliminated when the company reorganized. Although the initials no longer meant anything, Nader was hesitant to eliminate them because of the logistical and financial costs involved with a name change. “We were tight on cash and we didn’t want to revert the few resources we had for something that was not a priority. We always thought we could do it later on, it but it just never happened.”
By adding a tagline— “Born from science. Built for patients.”—they were able to refocus the brand while still keeping their existing brand strength.
6. Made visibility and communication a priority. Nader developed a policy of meeting with every employee one-on-one a month after they joined the company. Then every couple of weeks, he would meet (and still meets) with a random group of employees for a “What’s On Your Mind” luncheon. “It keeps me in touch with what’s going on in the organization,” he says. To rebuild trust, he also sits down with shareholders, investors and partners individually. Altogether, he conducts up to 400 meetings a year. “The only way to rebuild the grand image of the company is for them to believe in us, and for me to do my job explaining what we’re trying to do with them and for them, and to keep them informed in a very transparent way,” he says.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
