The world of a pharmaceutical executive is always changing, and leading a team can be complex. There are a variety of leadership styles a pharmaceutical executive can use, and using a combination of these can make it a lot easier to effectively lead, manage and guide a team. Leadership is not a ‘one size fits all’ role and a pharmaceutical executive being able to tailor their leadership style is key, and this should be done based on the needs of the specific team.
What is Leadership?Leadership is more than giving orders and expecting people to follow. It’s being able to inspire, guide and motivate a team of people, all with the aim of helping them to achieve goals and complete tasks. In the pharmaceutical industry, there are a range of different types of leaders, and pharmaceutical executives have a variety of leadership styles to choose from.
Common Types of Leadership Styles for Pharmaceutical Executives:
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Strategic Leadership - Being strategic at work means finding the best path to achieve goals, which requires critical thinking and problem-solving skills to navigate challenges in a competitive market. In the pharmaceutical industry, strategy is essential to combat threats, ensuring successful decision-making amid uncertainty.
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Transformational Leadership - Transformational leaders can effectively drive change within pharmaceutical companies. They have the ability to influence, motivate and inspire others, whilst building strong relationships with their employees. This type of leader serves as a role model, while enhancing overall performance during times of change.
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Visionary Leadership - In the pharmaceutical industry, visionary leaders guide companies by aligning the organisation's efforts and defining individual roles. Given the ever-changing landscape, visionary leaders may need to work with others on their vision, emphasising futuristic thinking.
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Bureaucratic Leadership - Bureaucratic leadership is relevant in situations that require supervision. In the pharmaceutical industry, bureaucratic leadership ensures adherence to legal and regulatory requirements for drug delivery, approval, supply chain and manufacturing processes. Bureaucratic leaders are task-oriented, accountable and organised.
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Collaborative Leadership - Collaboration is essential for pharmaceutical teams and departments to work together harmoniously. Leaders play a crucial role in implementing collaboration strategies that promote teamwork, mutual respect and nurture team members. Collaborative leadership emphasises sharing power and believes that anyone within the organisation can lead when their expertise is required.
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Situational Leadership - Situational leadership has gained popularity in the pharmaceutical industry due to its recognition that different situations require different leadership styles. Situational leaders excel in flexibility, adaptability and agility, and they devote themselves entirely to the current situation. This approach allows them to draw from various leadership styles, selecting the most suitable one for each circumstance.
Each of the leadership styles listed above brings something different to the table, and pharmaceutical executives need to be aware of when each style could be useful. To be successful and effective leaders, pharmaceutical executives need to tailor their leadership approach to the task at hand.
