24 Sep Power of the Pause in Decision Making
Peter Ray, a biopharma strategy and operations executive, joins Megan Cummings Kruger to discuss leadership, strategic thinking, and the transformative power of mentorship. Peter draws from his extensive experience in the life sciences industry, offering insights on holistic learning, decision quality, and how taking time to pause before making decisions improves outcomes, both professionally and personally.
Leadership Journey and Mentorship Legacy
Peter’s career spans leadership roles at Alnylam, Celgene Corp, and Bristol Myers Squibb, where he led teams and drove strategic initiatives. Currently, as head of Portfolio Analytics at Novartis, Peter applies his deep expertise in R&D productivity, decision science, and biopharma sustainability.
A key element of Peter’s professional life is his commitment to mentorship. Now mentoring his 13th Menttium mentee, Peter emphasizes the importance of curiosity, empathy, and lifelong learning. He reflects on his leadership journey, which began with Megan’s interview—rooted in mutual respect and a shared love of reading.
The Importance of Decision Quality
A significant takeaway from the conversation is Peter’s approach to decision-making. During his time with Strategic Decisions Group (SDG), he learned a decision analysis framework that balances human behavior with quantitative analysis. He stresses that decision quality should be judged by the process, not just the outcome.
Key elements of decision quality include:
- Values: Understanding what truly matters and defining success personally.
- Alternatives: Recognizing that multiple paths can lead to success.
- Framing: Focusing on what can be controlled now versus what should be addressed later.
This approach helped Peter navigate high-risk decisions in biopharma, where uncertainty is a constant factor.
The Power of the Pause
A recurring theme is the power of the pause. Peter advocates for “going slow to go fast,” stressing the importance of pausing to gather information and reassess before making decisions. In fast-paced environments, taking a moment to reflect can lead to better outcomes. Peter’s experience in drug development, where hasty decisions often lead to costly delays, reinforces the value of pausing.
Effective Communication Across Cultures
With Peter’s international experience, he also shares insights into cross-cultural communication. He stresses the importance of active listening, asking questions, and understanding cultural differences in communication styles. Whether navigating Japan’s consensus-driven approach or interpreting non-verbal cues, Peter’s adaptability has been key in his leadership.
He shares a personal story about his father-in-law’s advice on communication when Peter married his Japanese wife. The lesson extends beyond personal relationships to navigating complex business environments.
Mentorship and Holistic Learning
Peter’s passion for holistic learning is evident in his mentoring approach. He highlights how curiosity and empathy fuel both mentorship and leadership. For Peter, mentoring is about creating space for both mentor and mentee to learn and grow. He encourages mentors to allow mentees to discover solutions on their own, rather than providing answers.
One powerful takeaway from Peter’s mentorship experience is realizing that experts don’t have all the answers. Even seasoned professionals continue to learn from their mentees, making mentorship a two-way street.
Career Planning: Embrace the Journey
Peter offers a refreshing perspective on career planning: there is no single path to success. His own career, which spans different industries and continents, evolved through exploration and embracing new opportunities. He advises early-career professionals to focus on what brings joy and stay open to challenges, even when they don’t align with a predefined plan.
Key Takeaways for Aspiring Leaders
- Quality of Decisions: Focus on the decision-making process, not just the outcome.
- Power of the Pause: Take time to reflect before deciding to avoid costly mistakes.
- Curiosity and Empathy: These traits are crucial for effective mentorship and leadership.
- Holistic Learning: Mentorship is a two-way relationship that benefits both mentor and mentee.
- Career Flexibility: Stay open to unexpected opportunities and focus on what makes you happy.
Conclusion
Peter Ray’s insights on leadership, decision-making, and mentorship offer valuable lessons for professionals at all stages. His emphasis on pausing, staying curious, and embracing holistic learning gives a fresh perspective on navigating both personal and professional growth. As he continues to mentor and lead, Peter’s reflections remind us of the lasting impact of meaningful connections and intentional reflection.