Teva’s Makov: We’re already looking at 2020
Israel Makov explained to the Israel Business Conference how Teva maintains global leadership.
see what i mean ? almost
Roee Bergman 4 Dec 05 14:27
Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) president and CEO Israel Makov gave today’s opening speech at the “Globes” Israel Business Conference ‘s “Business Leadership - Vision and Reality” panel. Other participants were Motorola Israel general manager Elisha Yanay, Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE:PTNR; LSE:PCCD) CEO Amikam Cohen, Ness Technologies Inc. (Nasdaq:NSTC) president and CEO Raviv Zoller, El Al Israel Airlines Ltd. (TASE: ELAL) CEO Haim Romano, and professor of business at the University of Michigan, David Ulrich.
Makov said, “The most prominent factor in Teva’s success that gave it leadership in competitive advantages is the company’s commitment to leadership - leadership that is deeply engrained in the company’s corporate culture. Few successful companies can maintain their leading market share over time, and that can are leaders in their fields.
“In recent years, Teva has been the leader in the generic drug industry, and we made changes that affected the leaders in the industry. In the generic drug industry, the mission is to supply medicines at an equal price for everyone to the broadest population of suppliers in the world.
“Teva’s policy of recognizing US patents, which dragged other companies in the industry in its wake, revolutionized the generic drug industry.
“The generic drug industry previously comprised local companies with no global power. Their products were not global, either. When we looked at where the market was going and what it could achieve, we asked what else we could do to provide products to people at the same price for everyone. The answer was to globalize the generic drug industry. We led this globalization, and we’re in a different place in the industry. Until now, companies have set globalization as a milestone, but most have not had exceptional success.
“We were able to maintain sectoral leadership and leadership in the market. This is the result of a leadership model that took us time to develop. It’s a very structured model. The model is built on three circles. The first circle is to analyze trends likely to lead the industry in the future. Each year at Teva, we not only examine the short term, but also the long term. We have units that are already looking at 2020. This makes it possible for us to exploit business opportunities that other do not have the tools to spot. This gives us a leadership gap in the industry.
“The second circle is how to be the first to drive processes, and how to carry them out and adapt them to the company. In order to exploit globalization opportunities, we had to make many adjustments at the company, which isn’t easy, but is critical.
“The third circle is operational. In the first two circles, we spot opportunities, and decide how to exploit them. In the third circle, we decide how to operationalize the road to leadership.”
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2005
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