Novo Nordisk internal consultants are combined into a small department and they often come from McKinsey, eg. are McKinsey dropouts. Company keeps them in high regards due to the reputation of that consulting company. Currently they try to dazzle coworkers at Novo by producing generalized reports with impressive McKinsey vocabulary, but using various AI bots and putting minimum effort into this work. Not much of value, though.
We watch in dismay how the company conducts acquisitions and collaborations. Throwing money into unworthy partners.
It tells there are no M&A skills in organization, no good know how in-house to evaluate technical and scientific value combined with some lack of local skills. Too many general managers, not enough technology managers. But hey, the markets are booming and competitors are even worse.
Big news how successfully we can help gluttons. And what profits this would bring so stock went up. Really nothing to celebrate. Do we want to treat a patient?
The image part, on surface all looks great, including token DEI images of happy workforce. Inside there is nationalism, collusion with own government, cronyism and even discrimination. Boasting wealth and comparing to budget of own government happened. Reason to work together. Many managers have come from local industries or government branches with no experience in biopharma. Too many managers, often covering narrow or artificial divisions. Poor collaboration with overseas operations. Superficial push towards modernization and giving this great publicity. Often can beat competition since apparently they are even in a worse shape. With oversized workforce company can play social public relations game offering employees long family leave benefits. This is possible since there are no serious domestic competitors and government tolerates and likes such monopoly if it keeps part of population happy. Often making wrong decisions in M&A or collaborations that come from excessive profits and available funding.
2025 Davos is coming. The company is also enamored with Global Lighthouse Network by World Economic Forum. We know what that Forum represents. USA has DeepState. WEF is DeepGlobalism.
Lilly and Novo competition and comparison can be an interesting subject. Each one operates in different reality. Novo Nordisk lives in its own bubble of virtual reality with government involved. Both are very protective regarding national interests. Most of Novo managers get indoctrinated at Copenhagen Business School. Lilly is more chaotic, American business style. Both make a lot of in profit from American Healthcare system, at the end from American patients and taxpayers. Novo Nordisk employees enjoy better benefits, for example long parental leave.
Both companies have problems, but this is a long story to tell.
Ills of foundations combined with unexpected success.
Filling illusionary positions around foundation main location and at the same time experiencing manufacturing problems.
Management is awful. There is so many levels of incompetency and they just paid out our Obesity sales force 50k in one quarter in bonus--they forecasted wrong and had to pull the voucher/coupon card off market. Total mess. Well the other sales force Diabetes got maybe 7k. Now they are sending a bunch of people to Las Vegas for a live meeting. Majority of people dont want to go, layers of incompetence. Layers
Very poor leadership. This was once a company admire. A company culture of greed.
Hard lessons to be learned. I hope their products can keep them afloat until the poor leadership can be purged.
Sales team means nothing to inept Executive Management
Micromanagement,
No concern for safety during COVID
Withheld bonus $ after quarters end
No goal adjustments while being told to work from home
Monitored via Bluetooth thermometers and Hub app
Yearly layoffs
