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The transition from being a lecturer at Princeton University with degrees in history and religion to running a biotech company was not a smooth one. it's easy to imagine the kinds of hurdles that Drakeman had to face. Professors do not have to be business-minded in order to be successful. Their business -- the university, especially a prestigious university like Drakeman's Princeton -- is stable and requires no rainmaking on their part. They are not responsible for the practical, everyday tasks of running a business and often unaffected by the bottom line. Unless they are a department head or dean, professors may lack personnel management and competitive skills.
One of the most important skills Drakeman needed to learn during her transition was the skill of delegating. She was lacking important knowledge needed for understanding some of the basics of her new business, such as the technical...
To bridge the gap, she delegated certain tasks to engineers, who could translate the terms for her. Drakeman also realized that she needed support in taking on the big tasks of her business, such as outfitting a new plant to technical specifications. The details are overwhelming for one person, or even a team of people to oversee, so Drakeman had to learn to let go and assign tasks to others. There is only so much one person can do, and when they run into their absolute limit, a business can no longer grow.
Drakeman built her own success by making good choices, including hiring experienced employees, inspiring her colleagues, delegating responsibility and relying on those with knowledge of the biotech industry to help her make decisions. She also spent time at her husband's biotech company before moving out on her own, learning critical skills and…
Jeanne Whalen's article from the October 17, 2005 Wall Street journal examines the story of academic-turned-businesswoman Lisa Drakeman, who at the time was the CEO of Genmab as, a pharmaceutical company based in Denmark. The transition from being a lecturer at Princeton University with degrees in history and religion to running a biotech company was not a smooth one. it's easy to imagine the kinds of hurdles that Drakeman had to face. Professors do not have to be business-minded in order to be successful. Their business -- the university, especially a prestigious university like Drakeman's Princeton -- is stable and requires no rainmaking on their part. They are not responsible for the practical, everyday tasks of running a business and often unaffected by the bottom line. Unless they are a department head or dean, professors may lack personnel management and competitive skills.
One of the most important skills Drakeman needed to learn during her transition was the skill of delegating. She was lacking important knowledge needed for understanding some of the basics of her new business, such as the technical jargon of biomedical engineering. To bridge the gap, she delegated certain tasks to engineers, who could translate the terms for her. Drakeman also realized that she needed support in taking on the big tasks of her business, such as outfitting a new plant to technical specifications. The details are overwhelming for one person, or even a team of people to oversee, so Drakeman had to learn to let go and assign tasks to others. There is only so much one person can do, and when they run into their absolute limit, a business can no longer grow.
Drakeman built her own success by making good choices, including hiring experienced employees, inspiring her colleagues, delegating responsibility and relying on those with knowledge of the biotech industry to help her make decisions. She also spent time at her husband's biotech company before moving out on her own, learning critical skills and immersing herself in the business.
The truth is that "creative" people and "geniuses" aren't any different than anyone else. They've only spent more time doing the things they wanted to be doing and pursuing the things they wanted to pursue. They had the courage and strength to persevere when others told them "no" it couldn't be done, or "you're wasting your time," "you're not going to make any money doing that," etc. And for their
WIND FARM IN CANDA OUTWEIGH ITS COSTS?" COMMENTS ON MY PRELIMINARY PROPOSAL ARE: -If choose a research project, a good research focus identified, 'Do benefits developing wind farms Canada outweigh costs?' You identify research method (case study suggested), explain suitable investigation More included explanation data collection methods primary secondary sources -table contents required PROJECT PURPOSE The objective project MBA students address issue strategic functional importance organisation, organisation choice entrepreneurial
Organizational Analysis -- Hope Hospice Advanced Organizational Analysis - Hospice As a nonprofit, Hope Hospice has undergone a tremendous evolution from a small agency to a major presence in south Florida. What is perhaps most remarkable is the ability of Samira Beckworth to withstand the pressure of the bottom line. Hope Hospice is a nonprofit organization, but it has grown into a going enterprise that is -- by all appearances --
Ed Gold Scholarship As might be expected of the eldest child of two Nigerian immigrants, I possess an abiding entrepreneurial spirit and drive to succeed. I joined the New York Investment Banking Consulting team at FactSet Research Systems in September 2001 and was quickly promoted to Senior Consultant and Account Executive. I simultaneously enrolled in an evening statistics classes at NYU and joined Weichert Realtors as a real estate agent. These
"This gentleman, a stranger to me, stopped one day at my door, and asked me if I was the young man who had lately opened a new printing-house. Being answered in the affirmative, he said he was sorry for me, because it was an expensive undertaking, and the expense would be lost; for Philadelphia was a sinking place.... And at last I had the pleasure of seeing him give
Leadership of Richard Branson Determine two (2) key ways in which Richard Branson is likely to motivate employees in order to achieve his goals for the Virginia Group. Indicate whether or not his approach is likely to work in a different organizational setting. Provide support for your rationale. Ensuring that the workforce is focused and always motivated can be a very tricky skill for most employers to master particularly when there is