Dear All,
I have read and reviewed the book which has valuable inputs related to HR, Management, and Trainers. Kindly read.
Book Review by Prof. M.S. Rao
Science Lessons: What The Business Of Biotech Taught Me About Management (Hardcover) By Gordon Binder (Author), Philip Bashe (Author)
Introduction:
The book speaks volumes about the practical experience of Gordon Binder, the CEO and Chairman of Amgen from 1988-2000. When he joined, the firm had bare capital to sustain for a period of three months and no products to move forward. Gradually, the company became one of the best biotech companies in the world under his leadership setting an ideal example for others to follow. When Gordon was interviewed by George Rathmann and was asked, “What is biotechnology?” he was unable to reply, and the same person became the CEO and put Amgen on the map of biotechnology success. It is indeed incredible to believe a person who did not know anything about biotechnology and made the biotech firm a runaway hit. For Amgen, it is a credit to have been crowned as one of America's best companies to work for by magazines such as Fortune, Working Mother, and Industry Week five years in a row.
Amgen's secret weapon:
Amgen was successful because of its corporate culture and values. Gordon says a company's culture emerges from its values; they interviewed hundreds of staff members in all areas of Amgen to learn which values they believed constituted the core of that culture.
The author, Gordon Binder, has always been fascinated by the inner workings of companies. When you think about it, a business is much like a living, breathing entity, experiencing constant change. How are some corporations able to achieve success year after year? Does the company mold its personnel, or is it the other way around? I say it's a bit of both.
How Amgen built a winning team:
Amgen was successful because of its exceptional workforce. It looked beyond the resumes while recruiting staff, focusing on qualities such as resourcefulness, ethics, and adaptability, which are usually not found in resumes. Employees are not fired due to a lack of necessary skills. They are rather fired because they have alienated their coworkers, or they are ineffective communicators, or they are not team players. They are out of step with the rest of the organization. This cuts both ways: at a poorly managed company, really good employees tend not to last very long because their work ethic, integrity, and so on conflict with the prevailing office culture.
How Amgen kept employees committed:
After recruiting the right talent for Amgen, the company kept them highly committed and motivated by various ways and means. Amgen believed in mentoring younger generation employees continuously. The most effective and economical way to maintain employees' commitment is not to offer one incentive after another but to eliminate the negatives as much as possible.
Help employees excel through training:
Amgen believed in the importance of training and development on a continuous basis. The author writes, “Most good workers – and that describes the majority of professionals – genuinely want to do well at their jobs and see their company prosper.” It indicates that the workers would like to contribute their best to the company, and training is essential to equip them with skills and abilities so that they can perform their duties effectively.
Value of ethics in business:
Ethics are important ingredients for any entrepreneurial success. People look at the background check during marriage, and while making friendships, they look at the background of the person. Very few people look at the background check of the company that you are partnering with. It is essential to check thoroughly the background before entering any partnership in business.
Conclusion:
The daring business strategies, ethical principles, and management values of Amgen and the ethical leadership of Gordon Binder brought Amgen from nowhere to top status in biotechnology. The eight ethical values of Amgen, its transparent corporate policies, encouraging research activities, its agility to float IPO to EPO in four months, innovative recruitment policies, building strong winning teams through continuous training and development, the 360-degree feedback for CEOs, embracing change are worth reading and worth emulating by all. The book is a must-read for all who aspire to be managers, entrepreneurs, and leaders as the business lessons that have been learned by way of experience have been distilled for the benefit of readers. The book helps in sharpening your managerial, entrepreneurial, and leadership skills.
To view the full review for more management lessons and the importance of training and development, click the link [http://profmsr.blogspot.com](http://profmsr.blogspot.com)