Research in Motion
Fred Hrkac (46) Boston Scientific – former president for EMEA
Bio: - bachelors in business - mcneil consumer products (jnj) sales rep. Tylenol - moved to jnj endosurgery - 1992 moved to Zagreb to start jnj, in 10 years reached 500mil USD sales - joined boston scientific in 2009 as pres, reported directly to CEO. Responsible for 2bil$, 25% of total - moved to paris, sorin group (decisions made by him in the office, small company) - retired a month ago, works on some projects/charity work
Actual strategic planning presentations:
Beginning of process: - update view on market - corporate strategy priority alignment - pressure test (view healthcare budgets etc) - goodwill analysis (this is where you find your goodwill, if it goes down you can do some write offs etc so you need to know this) - EC and BOD want strat plan by july 2010 (starts in feb, takes a lot of time) (for 2011-2016). The end result should be a P/L that says “i’m gonna make this much money”. There are lots of assumptions for overheads etc - Once it gets approved, start operation plannings for the next year - - make sure you agree on market growth, grow a minimum of 100 basis points faster than the market each year
Presentation: 1. executive summary: - total EMEA market was 8bil , they had 23% share, projected with 3% CAGR (was really 1-2% looking back). Said they would lose 100mil USD a year because of situation in europe and med budget squeeze. - paint a picture of what the options are: where to invest, selectively grow in these certain areas etc (make distribution and partnership agreements with smaller companies because they would not survive any other way) - BS is super conservative, only sold in Greece on a cash basis because of their huge debt (took them 6 years to collect receivables in there so they totally pulled out basically) - LEAN initiative (decide to save 10mil a year on overhead,
Bio: - bachelors in business - mcneil consumer products (jnj) sales rep. Tylenol - moved to jnj endosurgery - 1992 moved to Zagreb to start jnj, in 10 years reached 500mil USD sales - joined boston scientific in 2009 as pres, reported directly to CEO. Responsible for 2bil$, 25% of total - moved to paris, sorin group (decisions made by him in the office, small company) - retired a month ago, works on some projects/charity work
Actual strategic planning presentations:
Beginning of process: - update view on market - corporate strategy priority alignment - pressure test (view healthcare budgets etc) - goodwill analysis (this is where you find your goodwill, if it goes down you can do some write offs etc so you need to know this) - EC and BOD want strat plan by july 2010 (starts in feb, takes a lot of time) (for 2011-2016). The end result should be a P/L that says “i’m gonna make this much money”. There are lots of assumptions for overheads etc - Once it gets approved, start operation plannings for the next year - - make sure you agree on market growth, grow a minimum of 100 basis points faster than the market each year
Presentation: 1. executive summary: - total EMEA market was 8bil , they had 23% share, projected with 3% CAGR (was really 1-2% looking back). Said they would lose 100mil USD a year because of situation in europe and med budget squeeze. - paint a picture of what the options are: where to invest, selectively grow in these certain areas etc (make distribution and partnership agreements with smaller companies because they would not survive any other way) - BS is super conservative, only sold in Greece on a cash basis because of their huge debt (took them 6 years to collect receivables in there so they totally pulled out basically) - LEAN initiative (decide to save 10mil a year on overhead,