When someone disagrees with your opinion, you need to respond intelligently. In this lesson, you'll discover strategies that will help you think analytically, strengthen your ideas and avoid defensiveness.
Your client believes that the data spreadsheet you worked on for over six days is unclear, and does not meet its purpose. However, doing the rework that they are asking for would take you another week, and they want it in three days, before the client presents it to the company. You have a pile of work to also complete that you have been neglecting. What would you say?
Read the case (Pfizer) with your teacher.
THE SITUATION
Pfizer is a leading American pharmaceutical company known for developing and producing medicines and vaccines. Over the years, Pfizer has grown into a global leader in the development, production, and marketing of a wide range of pharmaceutical products.
Pfizer’s portfolio primarily ranges in the following areas:
- Therapeutic: oncology, immunology, cardiology, neurology, infectious diseases, vaccine development
- Blockbuster drugs
The company has built a strong reputation for innovation and delivering high-impact solutions in healthcare. Pfizer’s tremendous success can be largely attributed to its blockbuster drugs, which have generated billions in revenue and significantly contributed to its financial performance. These include:
- Lipitor (atorvastatin) for cholesterol management, one of the best-selling drugs in history
- Enbrel (etanercept) for autoimmune conditions like rheumatoid arthritis
- Ibrance (palbociclib) for breast cancer treatment
- Prevnar 13 (a pneumococcal vaccine), a significant contributor to the company’s vaccine portfolio
THE PROBLEM
The CEO is deeply concerned about the company’s financial trajectory, as the patents for two of its most profitable blockbuster drugs are set to expire in four years. These drugs currently generate a significant portion of the company's revenue, and once the patents lapse, generic manufacturers will be able to produce and sell cheaper versions, leading to a substantial decline in Pfizer's market share and profits. The CEO is seeking strategic advice to address this impending challenge. They want to explore opportunities for growth and diversification to offset potential revenue losses while maintaining Pfizer’s competitive position in the pharmaceutical industry. How can Pfizer ensure sustained growth and profitability despite these new challenges?
1. Discuss with your teacher - In what ways can Pfizer grow strategically by diversifying their revenue streams?
2. Language and Tips to Strengthen Analysis - take a moment to go through the following points:
- Structure
- Point - Start with a clear side. What is the main point?
- Illustration - Give an example or fact. Something that paints a picture of your point.
- Explanation - Explain why your illustration is relevant to your point. So what?
Practice: Present one of your responses to (1) by using the structure above.
- Summarizing
- Summarizing the opposition’s points will buy you time to not only think, but also ensure that you understand their side.
- It gives the others a chance to agree or disagree with your understanding:
- “So from my understanding, the points you’re making are…”
- “Correct me if I’m wrong, but are you saying…”
Practice: Listen to the argument that the teacher gives you and summarize the points given by using the phrases above.
- Hedging
- Hedging is a way to be cautious in your language.
- Be careful though - it might show some indecisiveness or a lack of confidence:
- “It’s possible that…”
- “It seems like…”
- “It’s likely that…”
Practice: Use the same arguments your teacher gave you and use hedging language to acknowledge the ideas.
Analyze the facts of the case you read (Pfizer) and defend your points.