Supporting Strategy With Competitive Analysis

Abstract

OVERVIEW:Boehringer Ingelheim Pharmaceuticals, Inc. (BIPI) conducted a benchmarking study to assess the state of the art and future trends in a fast-moving area of drug discovery. As a result, five key technologies and processes were selected for comparison with internal practices. Gaps were identified, which then had to be prioritized for management action. These included well-established technologies and processes as well as growth and emerging technologies. A strategic planning framework was selected, which permitted consideration of these differences, and the perceived consequences of being a “leader,” “adopter” (fast follower) or “follower” in each. BIPI's relative position was determined for each and the consequences for the Company assessed. The counterintuitive results led to changes in both strategy and implementation.