Reference no: EM132578952

You are the vice president at a new biotechnology company and your initial drug product is showing promise and it is likely it will go to market in about a year and a half. One of your board members, who has a vast background and over 20 years of experience in the pharmaceutical industry is showing impatience with your apparent lack of planning for the next phase of the company. She is questioning if you have the ability to lead the company to a higher level. You sense that she would like to replace you and assume control of the project and company initiatives.

Discuss strategies for addressing the board member about the issue and as you move forward. When formulating strategies, keep in mind that organizational culture is key to success and addressing barriers head on is the only way to move forward. In replies to peers, discuss whether you think the suggested strategies will be effective, justify your response, and provide additional ideas for addressing the situation.