· Strategy and resource allocation
- Value creation
- Stakeholder relationships
- Strategic focus and future orientation
In sharing the view according to which “value is created through relationships with others” (“Stakeholder relationship”, para. 3.11, p. 17 of the International <IR> Framework) and therefore, the relevance of being “transparent and accountable for” (“Stakeholder relationship”, para. 3.14 and 3.15, p. 18 of the International <IR> Framework), a section of the “Our Business” section is dedicated to the “Novo Nordisk Way”. This sets out how the organization is able to create value in the short, medium and long-term by involving its internal and external stakeholders in its product pipeline. This is introduced by the Chief Executive Officer, which signals the commitment of top management towards this approach (pp. 18-19). The product pipeline is illustrated as being divided into four areas, which represent the strategic focus areas identified in the strategy (p. 16). For each area, concise but detailed information is provided in relation to “Compound”, “Indication”, “Description” and the development phases in which the product is located. Each phase is briefly illustrated in terms of number and nature (healthy volunteer, patient) of the stakeholders involved, the activities performed and the results obtained (pp. 20-21). At the end of this section (p. 21), the 2016 Key Milestones are summarized in a table relating to the results to be achieved in the new year by those products that already have obtained regulatory approval.