Senior Manager, New Business Creation
The Senior Manager, New Business Creation (NBC) will support the core activities of the NBC function: Discovery, Incubation & Launch of new businesses.
Discovery defines the Areas of Exploration and creates the corresponding pipeline of new business ideas for later incubation. It consists of the generation of strategic ideas, evaluation, and filtering. The Sr Manager will manage the enterprise-wide discovery program, as well as contribute to cross-functional teams engaged in discovery to ensure a healthy pipeline of new opportunities.
Incubation will validate new business concepts prior to formal launch, with a focus on demonstrating product/market fit via lean start-up methodologies (minimum viable products, lean experiments, pivots as necessary). The incubator typically hosts 2-3 small teams with the goal of validating a new high-growth business for ResMed in adjacent or transformational spaces. The Sr Manager will contribute directly to validation, working side-by-side with the small teams to efficiently build, measure, & learn.
Launch tests the repeatability and scalability of a chosen business model for ideas that graduate from the NBC Incubator. Launch teams have a higher degree of funding and autonomy and an operating model resembling a startup under the governance of a dedicated venture board. The Sr Manager will contribute directly to the launch effort, typically in-charge of a major function reporting to an interim general manager. After Launch, comes the Scale phase of a venture, which is outside the NBC purview.
The Sr Manager will report to the Entrepreneur-in-Residence, New Business Creation. They will work closely with the new business creation and corporate strategy teams, as well as with members of ResMed’s entire organization.
The successful applicant will have demonstrated wide innovation knowledge and the ability to analyze information, think critically, communicate effectively, and have a track record of taking initiative to go beyond merely executing tasks as they are described.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Engage with various internal stakeholders to understand ResMed’s core competencies and strategic objectives that impact the scope of the NBC function, namely the identification of Areas of Exploration, including adjacencies & transformational areas to the core
- Conduct secondary research on various market trends and new technologies and prepare synthesis reports and recommendations for further exploration based on the findings
- Conduct primary research through interviews with external stakeholders (customers, patients, providers, payers) and distill the learnings into meaningful insights
- Work with the NBC team to design, market and operate company-wide ideation challenges (day-to-day program manager in-charge of performance indicators including employee engagement, relevance of ideas generated & stated learning & cultural objectives)
- Coach small teams on their application of design thinking principles, including in-situ, qualitative research, to identify new business opportunities based on unmet needs
- Coach small teams on their application of lean startup principles, including design & execution of business experiments, to test desirability, feasibility and viability of new business concepts
- Critically evaluate evidence generated from Incubate and Launch activities and provide recommendations regarding product/market fit and business model ‘persist vs pivot’ decisions
- Conduct detailed competitive and financial analysis to support investment decisions
- Develop executive level presentations and deliver pitches to recommend a course of action
- Manage a business function during the Launch stage of new venture, which could include product management, sales & marketing or operations (e.g. supply chain management)
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Healthcare, Med Tech, digital health or innovation experience preferred
- Secondary & primary market research & synthesis of new business opportunities
- Financial analysis (e.g. pro-forma projections to support a business case)
- Project / program management
- Ability to self-manage, identify problems and take initiative to solve them
- Ability to work collaboratively in a team environment, including influencing thoughts and actions without direct management authority (e.g. coaching teams)
- Ability to communicate complex ideas effectively, both verbally and in writing
EDUCATION and/or EXPERIENCE
Minimum eight years related experience in an entrepreneurial or innovation role within MedTech or Healthcare; or equivalent combination of education and experience.