Summary
In many organizations, design thinking dominates the research process with expansive research processes upfront during discovery. Pharmaceutical research gives us an alternative model that we can adapt based on a fail early and fail often (tech mantra) that should make discovery research an easier sell in any organization. Takeaways: An alternative model to discovery research with reduced upfront costs Starting discovery research when buy-in is difficult Maintaining discovery research when funds tighten up An alternative model to measuring the value of research that takes into account savings
Key Insights
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Pharmaceutical research principles can enhance design thinking processes.
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Elimination of redundant features is prioritized over the creation of new ones.
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Research demonstrates that organizations value cost savings over new idea generation.
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The integrated discovery model helps de-risk ideas rather than focus solely on innovation.
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A learning mindset is essential for organizational growth and adaptation.
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Engaging with both current and potential customers is crucial for accurate insights.
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Research should aim to identify opportunities that align with customer value.
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Understanding and mitigating risks can lead to more sustainable innovations.
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Financial projections must account for higher returns in a high-inflation economy.
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Cultural shifts in organizations can facilitate better decision-making around innovation.
Notable Quotes
"Without drugs, people would be sick, and without UX, they wouldn't be able to use the drugs."
"The essence of strategy isn’t painting a grand vision of the future; it’s deciding what not to do."
"We need to think through how we can eliminate ideas and make pivots as early as possible."
"Instead of being an area focused on idea generation, we pivot to saving the organization money."
"Our discipline is about helping companies make better decisions, even if it means saying no to existing projects."
"The earlier you do research, the more money you can save."
"Integrated discovery helps with fostering a learning mindset culture."
"By opening up the gates of innovation, you're also increasing the possibility of collaboration with diverse perspectives."
"It’s about understanding what your customers are willing to pay more for."
"Finance eats strategy for breakfast, especially when capital is costly."
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