Strategic planning helps to map out a plan for the organisation. If profit is not to be expected in the early days of a new product, a clear strategy keeps everyone on track and focused on the end goal: a profitable product and market.
Laws and regulation
Life Sciences is heavily regulated. From first tests to final go to market produces many tests, documents and takes a long time. To make sure the investment pays off, a good understanding of this market is key as well as a stragetic approach to planning.