Today was a good day. 6.5% return after a horrible Tuesday; I suppose that’s a start, but far from where we need to climb back to (anything over 4 is a win at this point in time).
The question we go back to, is once the original strategy doesn’t work, whats next. Where is the strategic leadership doing right now. How are they going to discuss the way forward with stock owners, the exec board, the workers and scientists. I’d like to think that many of the clinical researchers are back at their desk, working on the next major breakthrough, working to solve the problems as to why the clinical trials failed, working to make things better. I believe that true leadership is discovered when things are bad, not when they are great. As someone who has worked for both great and horrible leaders, knowing how those above you respond under stress is important not only for your own personal mental health, but to better prepare once things go sideways.
As we go through Chapter 1, we glide past the introduction, with a pit-stop at a Firm’s Mission, to find the meat of chapter 1, the process of adjusting the Firms mission. Having a mission statement, is important. It provides direction, purpose, and a sense of belonging. The problem with leadership, is that they often focus too heavily on those select few words and believe that that is the be all, end all. While that’s great to tell middle management, true leaders know that mission statements can will and do change over time as the organization changes and adapts. Failure to adapt is the death to any person or organization. If it was me in that board room, I’d say patience will get the stock price and returns back, and passion will develop the drugs…
IFRX 