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Seven Strategy Questions: A Simple Approach for Better Execution by Robert Simons

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TWO

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HOW DO YOUR CORE VALUES PRIORITIZE SHAREHOLDERS, EMPLOYEES, AND CUSTOMERS?

It was late on Friday afternoon when Ray Gilmartin, CEO of pharmaceutical giant Merck, received the phone call from Dr. Peter Kim, head of Merck’s research and development labs.

Kim was calling to inform Gilmartin that the independent safety monitoring board overseeing the thirty-six-month test of Vioxx, Merck’s blockbuster arthritis pain medication, was recommending a halt to the research study. For the first eighteen months, there had been no difference in heart attacks and strokes between patients taking Vioxx and those assigned a placebo. But from months eighteen ...

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