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CSRExecuting Strategy for Results - Novo Nordisk
Novo Nordisk, a leading global healthcare company headquartered in Denmark, was struggling to maintain its market leadership and, despite its revenue growth, it was losing market share as competitors were moving faster.
Novo Nordisk's Rapid Market Share Increase: How They Did It
INCREASE IN MARKET SHARE IN 2 YEARS
To win, the company urgently needed to implement a payer centric & cross functional account approach. As with most our customers they knew what they wanted to do, but the performance management system in place didn’t affect the change needed (PowerPoint and silo-based leadership).
From the implementation of Howwe in March 2018, Novo Nordisk has been able to align its teams around its growth vision and improve collaboration between Top Management and Sales Executives (done May 2018). As a result, Novo Nordisk changed from 5 years declining market shares to improving within 8 months and managed to grow its market share by 8% (+$23M) in only 2 years. This was the first Strategic initiative (Must-win-Battle) for Novo Nordisk, but Howwe is today used by the whole organization as the execution application for the strategy and business plan.
In what way is Novo Nordisk utilizing Howwe?
“Our organization is today using Howwe in their daily work. By using Howwe we are able to easily prioritize, follow up and keep the focus on the most important activities with the most ROI. Howwe also creates a deeper understanding among leaders and employees what creates real success and that everyone is updated on the goal progress.”
The three disciplines of acceleration enabled Novo Nordisk to achieve their goals
Prioritize & Align
First, they prioritized and decided on their Most Important Goals during a workshop – to increase sales. The next step was to align the organization to support the overall most important goals in order to create focus, accountability and free up time. In only three weeks the organization was up and running.
Steer & Measure
The teams created Key Activities – which lead to a proactive behavior accelerated to reach the most important goals and acceleration results. Each team performed their Key Activities on a weekly basis. The Key Activities account for about 10-20% of available time. Leaders steer and support their teams in order to reach their goals – in time.
Commit & Visualize
Every team and function began holding a weekly acceleration meeting. In just three weeks, 90% of teams were operational and began taking ownership of the meeting agenda and adapting Key Activities to improve results. The CEO and management team observed increased leadership proactivity and involvement in daily goal management.
"We use Howwe to focus and align the organization"
Novo Nordisk has achieved a strong growth since they started using Howwe. In this video, Niels Abel Bonde, CEO at Novo Nordisk, talks about the journey with Howwe and the effect it has had on the organizational alignment and focus on what’s most important.
What other customers say about Howwe
PayEx uses Howwe as a tool to visualize and break down the most important goals and activities in our business plan. Everyone in the organization knows what to do to contribute to the progress based on their role.
Raymond Klavestad
We learned the hard way that having too many goals prevents you from doing anything. It's simpler to work with a small number of goals and actually achieve them, that's why I started with the Howwe Way of Working.
Klas TocklinLet's talk
Want to know more about how Howwe enables a proactive way of working and empowers the execution of strategy on all levels of the organization?
I often compare Howwe with a magnet. We have a number of compass needles and we need to align them in the same way to get the force needed to drive change. That's one of the key success factors to make growth sustainable and how we accelerate growth with Howwe.
Kajsa Hedberg CEO at C4 Energy