Abstract
Entrepreneurs, especially in the life sciences, often introduce disruptive changes but in ecosystems with no or poor sponsorship. While they often focus on the desirability of their innovations, they really need to approach socializing their work as a change management effort. This paper notes change concepts and models that can be used by life science (and other) entrepreneurs to more efficiently and effectively introduce their innovations to key stakeholders.
Highlights
Entrepreneurs in life sciences, technically proficient they may be, face unique stakeholder change challenges
There tends to be a wide range of stakeholder interests to manage and that can create cash flow problems if not managed in a timely manner
Stakeholders who are engaged in the entrepreneur’s early stage of work require close support and encouragement to make sure that initial experiences are positive. All of these are demanding tasks that the ablest inventor may struggle to manage successfully. This paper addresses these challenges by reviewing a number of models and techniques life science entrepreneurs can use to be more efficient and successful in introducing their changes
Summary
Entrepreneurs in life sciences, technically proficient they may be, face unique stakeholder change challenges. Stakeholders who are engaged in the entrepreneur’s early stage of work require close support and encouragement to make sure that initial experiences are positive. All of these are demanding tasks that the ablest inventor may struggle to manage successfully. This paper addresses these challenges by reviewing a number of models and techniques life science (and other) entrepreneurs can use to be more efficient and successful in introducing their changes
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