As part of my commitment to communicate more frequently and transparently about our business strategy and the initiatives driving us forward, I am launching my new blog, “The Journey.” With each post, I plan to provide brief insights and anecdotes about what is happening with our business and our people – all in the context of our industry.
1.What does Bioclinica’s mission mean to you?
A company’s mission defines its purpose and role in the business world – the reason it exists and what it is ultimately trying to achieve. So, our mission also plays a critical role in guiding our business decisions. You see, a mission not only helps inform decisions on what a business should do; but also helps to quickly eliminate initiatives that the company should not do.
Bioclinica was founded to resolve problems for our clients conducting clinical trials, and our strategy, product and service offerings reflect a mission-driven model that will continue to apply science and technology to solving new problems as the industry evolves.
2.How did you become a mission-driven leader?
When I served in the United States military, our mission was to deter war and to protect the security of our country. Every service member (Army, Navy, Air Force, Marine Corps) had a part to play in executing that mission.
While in Saudi Arabia during Operation Desert Shield, I was assigned as the officer in charge of the laundry for all operations in country as we moved the majority of our armed forces into the Middle East. Does that sound small? Consider that we had more than a million service members relocate into country in less than six months, and each one would require clean clothing, free of infestation or disease that can easily spread in the field. That meant 250 people spent all day, every day, providing laundry services. These services assured cleanliness, health and well-being support for each service member while ensuring security and chain of custody for uniforms. Ensuring the health of their fellow service members while providing uniform security was a service to be proud of – and a service critical to the mission.
That experience showed me the importance of every person on a team understanding how their role contributes to a shared mission. When every person on the team serves a larger purpose, we all succeed.
At Bioclinica, we know that it’s not just reading medical images, developing software, or processing cases that achieves our purpose. Every person here, no matter what role they play, is helping us advance the development of medical therapies for people around the world.
3.How does Bioclinica execute on a mission-driven agenda?
We are driven by resolving our clients’ problems, not by selling products to them. Being mission-driven forces you to aim for the long term, not chase after every shiny new thing. In the first week of September, I outlined our growth agenda for the next five years, rooted in new ways we will continue to achieve our mission – and laid out some bold moves we will take to create meaningful value for our clients, investors, and employees. To achieve our agenda, we must:
Ensure exceptional business performance. Bioclinica has experienced seven consecutive strong fiscal quarters with increasing top-line revenue growth and margin expansion. The company’s backlog has also grown due to strong new business growth.
Investment in new and growing markets. Bioclinica is expanding and establishing new locations in the U.S., Asia-Pacific, and European markets and is creating Centers of Excellence supported by local talent.
Client-recognized innovation. We will continue to invest in our core businesses – Drug Safety Solutions, Medical Imaging, and Software Solutions. New product launches will continue to showcase our responsiveness to client needs.
In the end, the mission is not just a sign on the wall. It’s a tool that helps us build and scale better products and services, drive a stronger culture, and construct a resilient company that will last another 30 years – and beyond.