How One Company Achieved a Bold Transformation—Despite Major Unknowns

The mood in the room was tense. It was 2020, and the executive team of a company we’ll call Pharma Global (PG)*, the non-U.S. division of a leading pharmaceutical company, had gathered in Frankfurt for their annual retreat. For two years, they had debated a bold transformation—one that would fundamentally change how decisions were made, flatten the organization, and empower employees. Yet, despite endless discussions and extensive analysis, they had failed to make the leap.