I am Bob Hugin. I'm the Chairman and CEO of Celgene corporation. We're international company that were based in New Jersey, United States. We have operations at almost 60 countries around the world and sell our products our over 70 countries all around the world. We're a research oriented company and strategy is a big part of what we have we think about our company in our business. I'm somewhat jealous of the people taking this course, because they have the opportunity to stop and think about strategy. My career though, I did go to Darden and Enso Strategy. When I was young, I've been in the marine corp for seven years before I came to Darden. I've had never been in the business for worlds. So, any discussions of strategy really have little context for me and my entire career has been doing things and accomplishing things. I've never had a chance to really go back and read the books and think about it. So my views on strategy and accomplishing the mission are all focused on my on the job experience and learning. When I think about strategy I think about it in so many different levels because it's so important to be strategic in all you do in terms of want to accomplishing your goals. But for me personally, at the most senior levels in a corporation, when I think about strategy I first think about mission and vision. I think strategy comes after you have a clear alignment on mission and vision, and when people and organizations have a sense of purpose. Then you can impose strategy on top of that, or layer strategy on top of that and really produce great things. So to me, strategy really connects a vision, a purpose, what you want to achieve, what you want to become, what you want to do. And then you think about the goals that you need to achieve to advance that vision, to accomplish that mission, and strategy really connects those goals for the accomplishment of that mission and that vision. So at a corporate level, I'm always thinking first and foremost about mission and vision. What will drive us? What do we need to achieve? And then setting goals, and then how do we do it, is really strategy. At Celgene, the way we look at it is, that we think about a clear mission statement first. And we ask every group in the company to have their own mission and vision statement. We have one for the company, in fact this is my 17th year at Celgene and I would say virtually every single presentation I've ever given I open up with the Mission and Vision of Celgene. I don't care who the, is an investor audience In internal board of directors, I just think it's fundamental of what we do. So I start with that no matter where I am and then I think about, what are the key goals for us and that's where we have a 10 year plan. We have a long range plan, we have a 10 year plan which is really long term in our industry. We're long term thinkers, we invest today and not knowing the results for 10 or 15 years of drug discovery effort we have. But we think in different segments. So long term, 10 years, we do a long range plan. That's made up of a 10 year section and a five year section. So we think about, what do we want to become? What can we achieve? And we also have shorter term goals, one year goals and three year goals. So it's very important, but we think about, how do we put numbers and words around what we think our vision can be, and what our mission is, to what we want to become over the next five or 10 years. So we start at a very high level, and we ask that throughout the corporation. It comes both from bottoms up and tops down, so we ask every organization, to have a clear mission statement, put a vision out there of what they want to become, set goals, and put timelines. What can they do over the next year? What can they do over the next three years? And then, we say, what's your strategy to implement this vision? What's you're strategy to achieve these goals? And then we bring it all together, and we have a board of directors meeting every October, where we talk about the long range plan. We talk about those goals and we talk about what differentiates us. Because one of the things that I think about all the time is how do you become a great company? What are dynamic companies like? What are dynamic organizations like? And what I think is so clear to me is that dynamic, great companies are incredibly self aware. They know what their assets are, they know what their strengths are, they know what their resources are, they know what their challenges are ,they know what their weaknesses are. And they're also very outward looking in the sense that they understand the environment, they understand what the opportunities and the challenges are out there. And when you think about that, matching those two up, understanding yourself, understanding the outside world and then putting a strategy that says I understand ourselves, understanding outside world. And if we do these things we can achieve these great objectives. And that's how I think about strategy being fundamental to our business planning at every level of our company. I don't separate out execution from strategy and long-term thinking. I believe outstanding excellence is needed in the very short term to create long term opportunities. So my, and I think Celgene's definition of operating excellence is creating your future, that when you're doing something today, you want to do the very best you can, you have to be execution focused. If you do not deliver the near term, you do not have a long term future or as much more challenged. And so but I want people thinking about operating excellence in the terms of not just creating today's result but how are you creating your own individual future. How are you creating the future of your own department? How are you creating the future of your company? So operating excellence is of pillars that we use. We have certain pillars we think that drive our values and drive our strategy, and the first one is operating excellence. But our definition of operating excellence is not just creating the here and now. It's creating your future through operating excellence today. So I think, to me there's not a disconnect between being strategic and being operationally efficient and outstanding. Great strategies begin with great operating execution is a total prerequisite as long as you're thinking about it in the context of creating your own future. When I think about my own career and how I've always thought about things in my life, whether it's in school or in the military, in marine core or in work environments that I've been in, is that I've always thought as an owner. And so even if I was a junior person, I always wanted to know what was going on at the company. Why were we doing it this way? What's our mission and vision? So that connectivity is incredibly important, and I think great leaders think about, of themselves, as owners of what they do. Whether they're equity owners or not it doesn't matter. They're owners in the ideas and owners of that mission and that vision, and I think that one of the great strengths of Celgene to me is the connectivity. That people know each other, reach down throughout the organization. Great ideas don't have to only come from the top. Great ideas can come from people with limited experience, limited perspective but really having that connectivity and connecting people to the mission and the vision, then gives them the opportunity to impact. So my advice to people is you're an owner, be an owner, act like an owner, don't be afraid of having a great idea, don't be afraid about putting yourself out there and trying new things. What you do does and will make an incredible difference in the success of your organization.
