Entresto, the new heart failure drug, was launched in July 2015. It was predicted to be a huge hit with expected sales of approximately $10 billion annually, considering that its potential market, the US, has five million people with a heart condition. Unfortunately, within the first half of the year in 2016, it was only able to notch up sales of $17 million in the US market. Similar to this experience, many companies fail to understand this commonly made mistake, known as “hindsight is 20-20”, which is linked to bad timing and inadequately thouht-out strategies.
In the summer of 2015, India’s most populous State, Uttar Pradesh, claimed that a packet of Maggi noodles had been found to contain lead. This led to Nestle losing a whopping $277 million in sales. It is about time that businesses, management and strategic intelligence start thinking differently, says an article in the Harvard Business Review . It adds that a company does not need tedious planning, but, rather, a consistent reassessment of its business, its competitors and its market.
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