Making a Finance Academy Shine

The Client

Pharmaceutical giant launching a new internal Finance Academy

Key Takeaways

Assisted client to develop and deliver classroom-based workshops.

Updated courses as needed to match global adoption.

Developed capability framework for technical capabilities and competencies.

The Challenge

Our client, a large player in the pharmaceutical industry, launched a Finance Academy to support the structured development of finance within the organization. The Academy was intended to be a single point of access to learning for the finance community, with a focus on the development of finance skills. Kaplan was asked to develop and deliver the first two classroom-based workshops to be offered through the Academy: Forecasting & Budgeting, and Business Opportunity Evaluation.

The Solution

It was important to ensure that both interventions were highly tailored to the pharmaceutical industry and the company itself, with the Business Opportunity Evaluation course in particular, comprising detailed client-specific cases studies.

Our team worked closely with the finance teams and clinical teams to develop the workshops and case studies. Our chosen workshops followed the practical experiences of participants involved in the research and development of new products.

The Result

Due to the success and popularity of these workshops, they were adopted globally and have run regularly over the last three years. The courses have since been regularly updated to reflect the changing challenges within the pharmaceutical industry.

Following a review of the finance function, the company developed a capability framework. This framework contained seven finance/technical capabilities, each with five levels of competency. Clarity was required on how employees could develop and move onwards and upwards through the framework.

Kaplan further created detailed capability pathways for each of the capabilities and competencies, including advice on development beyond classroom-based interventions. Such guidance is now used by employees to articulate their development plans and is therefore a key tool in helping the finance community raise their capability levels.

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Key Takeaways

Identified gaps in both technical competence and behavioral confidence in financial knowledge and application

Collaborated and implemented effective program in key departments

Conducted post-event evaluation and confirmed training contributed to better
working practices

Key Takeaways

Established and implemented key programs to communicate clearly and efficiently on a broad scale.

Facilitated teamwork with the overarching goal of achieving behavioral shifts in attitude.

Created a more collaborative environment and strengthened the interaction and trust between teams.

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