Delivering New Products and Services in the Healthcare and Life Sciences Sector

In the fast-paced world of Healthcare and Life Sciences, innovation is not just a choice—it’s essential for survival and prosperity. This guide delves into the importance of delivering new products and services, highlighting the challenges faced by organizations and the strategies to overcome them.

Key Challenges

  1. Lengthy Development Timelines: Rapid changes in customer expectations necessitate quick product and service launches.
  2. Inward Focus: Organizations often prioritize internal changes, missing out on global opportunities.
  3. Failure to Learn: Despite recognizing past mistakes, businesses often fail to make necessary changes.

Becoming an Ambidextrous Organization

To navigate these challenges, organizations can adopt the concept of an ‘Ambidextrous Organization.’ This approach involves leveraging existing offerings while exploring new opportunities. A significant step in this direction is engaging with external crowds, including experts in healthcare and pharmaceuticals.

Discovering The Power of Challenges to Deliver New Products and Services

Conducting Challenges focused on new products and services is a transformative approach. Benefits include:

  • Navigating product development challenges.
  • Engaging with external experts.
  • Identifying and exploring new opportunities.

Success Stories

Debiopharm

This Swiss-based biopharmaceutical company used open innovation to find a single-dose version of a COVID-19 vaccine. Their challenge resulted in two winning solutions, addressing vaccine stability and the RNA transfection process. Find out how a global biopharmaceutical company used the Wazoku Crowd for ideas around a new single-dose version of COVID-19 vaccinations.

AstraZeneca

A global pharmaceutical leader, AstraZeneca has successfully run multiple challenges with Wazoku, focusing on treatments for various diseases. Their commitment to innovation is evident in their approach to transforming theoretical concepts into practical solutions. Learn how AstraZeneca solved complex problems through effective challenge design.

About Wazoku

Wazoku is an innovation business assisting some of the world’s leading organizations in innovating at scale. With AI-powered software, market-leading analytics, skills training, and the Challenge Driven Innovation® methodology, Wazoku is the global hub for innovation. We believe in the power of diversity for successful innovation and aim to give everyone a voice in the innovation process. We’re on a mission to change the world, one idea at a time. To learn more about how Wazoku could be used for your organization book a free demo today!

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