NANYANG EXECUTIVE MBA

Healthcare Transformation And Changing Strategies For Business

The products of the world’s largest healthcare company Johnson & Johnson can be found in virtually any supermarket, pharmacy, or hospital. However, the growing complexity of the firm’s portfolio, which spans consumer beauty and health to surgical products and life-saving medication, has become a challenge in recent years.

This is why Robert Manalu, Director of Commercial Quality for Johnson & Johnson, decided to pursue an Executive MBA (EMBA) degree at Nanyang Technological University’s (NTU) Nanyang Business School (NBS).

“The healthcare industry will evolve more in the next decade than it has in the last century,” explains Robert, quoting his CEO. “The knowledge and connections from the Nanyang EMBA programme will help me face these changes head-on and lead my team into this new era of health and everyday care.”

“The healthcare industry will evolve more in the next decade than it has in the last century.”

An unstoppable wave of change

Robert reveals that though the healthcare industry has advanced tremendously in the past few decades, these changes are minor compared to what lies in the future. Tech companies like Google have already entered the healthcare space with phone-based health monitoring and wearables like FitBit; their presence is both a threat to business and an opportunity to elevate healthcare.

“With new competition from tech giants, companies like J&J are driven to respond with innovation,” explains Robert. At the same time, they still need to think about managing current products and services, which are highly complicated.

THREE TRENDS SHAPING HEALTHCARE

Specialising and simplifying business

Last November, J&J announced that it would split into two publicly traded companies: one focusing on consumer health and the other housing its prescription drug and medical-device businesses.

J&J is not the only healthcare company simplifying to address increasing complexity. Indeed, in mid-2021, GlaxoSmithKline also announced that it would separate its Consumer Healthcare business. This move is made for greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value.

Agility will transform healthcare

Robert shares that healthcare companies are relatively cumbersome and slow — owing partly to a very-refined and careful approach to quality, safety, and regulatory compliance.

“Technology presents an opportunity to accelerate the development of critical life-saving products and services.”

He highlights artificial intelligence in drug discovery, for example, allowing pharmaceutical developers to curb discovery and development lead time – with greater accuracy and better results.

Better communication channels for healthcare providers

Beyond improving the tools used to deliver care, tech can also improve the patient journey. In the healthcare value chain of the past, companies like J&J primarily engaged with healthcare professionals rather than the final “end users”.

Now, though, patients come to the hospital or doctor’s office with more knowledge and want more control and input into the care they receive. Improvements in technology can help them connect to physicians outside of the office and take a more proactive role in deciding their care.

WHY EMBA AT NTU?

As an Asian leader who built most of his career outside of Asia, Robert felt he lacked an Asian foundation. NTU’s strong Asian roots and close collaboration with Tsinghua University were ideal answers for his needs. “In one programme,” he shares, “I can learn directly from professors from China, Singapore, and the US.”

He highlights NBS’s breadth of research across consumer psychology, cultural intelligence, and emerging markets in Asia as a significant draw. Robert’s current and future responsibilities involve building relationships with patients, consumers, healthcare professionals and regulators in Asia: the expert insights from NBS professors enable him to do this well.

A BRAND-NEW CHALLENGE

Coming into the EMBA programme, Robert already had Six Sigma training, Project Management certification, and more. But he was impressed by the Strategy Projects at Nanyang (SPAN) module, which he felt was uniquely challenging. “During my module, I worked with an advertising agency looking to penetrate the world of customer experience as a service provider. I was blown away by the level of quality it demanded of us and the consulting experience I obtained.”

He also found the new connections with fellow participants gratifying. In his cohort, he was one of just three participants from the healthcare industry. From his discussions with leaders from finance, international business, and others, he returned to J&J with cross-disciplinary best practices to implement in healthcare.

WHAT LIES AHEAD FOR ROBERT IN THIS SPACE?

A position as a leader should never be taken for granted, says Robert. This is true for businesses and individuals alike.

Though it is tempting to hold on to specific techniques and mindsets even after they’ve become outdated, such attitudes will ultimately threaten future growth. “If we’re afraid to dismantle legacy structures and embrace change, then someone else will leap over us,” he says.

For Robert and many other EMBA students, the programme is a once-in-a-lifetime opportunity to challenge themselves and set up a strong foundation for the rest of their career. “I want to be an agent of change in my industry,” explains Robert. “I am confident that I can help shape the path forward to the future.”

To thrive in the digital economy, leaders must understand how innovation can be harnessed to build a more agile digital enterprise. Designed for seasoned business leaders, the part-time Nanyang EMBA helps you:

• Deepen your understanding of business and its intersection with technology and innovation
• Gain global perspectives with immersions at UC Berkeley, USA and Tsinghua University, China
• Benefit from the rich experience of one of the most senior EMBA class profiles in the region

NTU is committed to recognises the contribution of leaders in driving transformation for healthcare. Applicants from the healthcare, medical and pharmaceutical sectors can apply for the Nanyang EMBA Healthcare Leader Scholarship today. Visit our website at https://bit.ly/NanyangEMBAweb  or download the Nanyang EMBA programme brochure to learn more.