Big corporations have structured processes and frameworks for strategic projects review, and professionals are well trained and versed on developing detailed project plans. But, the execution discipline is frequently overlooked or completely neglected, which results in staggering project failures, even when they are strategic to the business in a fast-changing environment, and even when it has the appropriate sponsorship from the senior management. This case study is based on the events and outcomes of one such project, MyCHC, driven by Merck in China. It demonstrates the benefits of a structured framework to secure a successful strategic project execution. MyCHC was a key strategic digital transformation project to develop a digital platform to support physicians and patients make informed decisions for diagnosis and treatment of diseases and to diminish the transactional friction to set appointments and follow-up. Although the project was solving both patients and physicians’ problems and had strong support from the senior management it ended up discontinued and was eventually merged into another project. The framework for smart execution from Gilbert et al. 2008 was utilized to analyse the case to better understand what went wrong during the execution of the project that was set for success with the appropriate focus, scope and sponsorship. An application of the framework highlights the need to secure the best team, a better rehearsal of the execution to identify risks and potential roadblocks, more investment to inspire and engage the team members and key stakeholders, and to follow through and keep the team energized, which were the missing elements that led the project to be folded eventually. The case demonstrates not only the importance of a structured approach to secure the success of a strategic project in a complex internal and external environment, but also the challenges to bring about a key digital transformation in an industry incumbent.
Six ways leaders can shape corporate reputation building strategies within their organizations, drawing on key insights from a Bloomberg Media study.
To navigate a turbulent business environment, CEOs must understand their landscape and align leadership thinking priorities, advises IMD’s Michael Watkins.
Gone are the days of the loyal company man or woman. Today’s workforce often includes a mix of freelancers, agency temps, and outside contractors. Here are four work models to keep these disparate elements happy and motivated.
Are you struggling to lead successfully in the face of relentless disruption and uncertainty? Now’s the time to master the art of strategic thinking, starting with these six key skills.
Warnings about alcohol’s harms by medical experts are nothing new. But the drinks industry is now taking sobriety seriously by investing in a growing range of alternative products.
How an easy-to-use tool can help executives assess and manage the impact of stakeholders on the creation and destruction of value.
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications