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Edwards Lifesciences

Company: Edwards Lifesciences, Irvine, CA
Company Description: Edwards Lifesciences (NYSE: EW) is a global leader in products and technologies to treat advanced cardiovascular disease, acute hemodynamic monitoring, and is the number-one heart valve company in the world. Headquartered in Irvine, California, Edwards has more than 5,700 employees worldwide, selling medical technologies in more than 100 countries with 2006 sales of $1.037 billion.
Nomination Category: Best Organization Achievements
Nomination Sub Category: Sales Management Training Program of the Year

Nomination Title: Edwards Lifesciences

  • How many people are in your organization's entire sales department?

    Annual sales volume in 2006 was $1.037 billion.

  • What is your organization's annual sales volume? If this information is confidential, simply enter "Confidential" in this space:

    Annual sales volume in 2006 was $1.037 billion.

  • Provide a brief biography of the leader(s) of your sales organization (up to 100 words):

    Alex Martin 
    Corporate Vice President,
    North America

    John “Alex” Martin is the Corporate Vice President, North America of Edwards
    Lifesciences headquartered in Irvine, California. Mr. Martin joined Edwards
    from Cordis Corporation, a Johnson & Johnson company, where he most recently
    served as Senior Vice President, International. He previously served as
    Cordis’ Vice President of Sales and Marketing, with responsibility for all
    U.S. coronary therapeutic and diagnostic device sales. Under his leadership,
    the company experienced significant growth and became the leader in its
    market. Prior to joining Cordis, Martin served in sales, marketing and
    business development management positions at several organizations, including
    C.R. Bard’s USCI division and IMED Corporation. He also served as Director of
    the Emergency Medical Services at The Medical Center at Bowling Green. Martin
    holds a bachelor’s degree from the University of Kentucky at Lexington.

  • Describe for the judges your achievement in this category (up to 100 words):

    To optimize sales force effectiveness, we innovated a tool for managers to 
    quickly diagnose performance strengths, deficiencies, and motivational
    anomalies of sales representatives. An algorithm, which addresses important
    attributes that directly impact sales, is used in conjunction with a Region
    Director Standard Operating Procedures manual which provides direction for the
    diagnosed issue. The manual contains templates for field visits, goal
    setting, and strategic targeting analysis, as well as talent development
    strategies, model day and week standards, motivational products, and
    performance plans through interviewing, hiring, and termination.

    Also, six management courses were launched in tandem with the algorithm and
    manual.

    http://thestevies.com/SPSEA07Attachments/EdwardsLifesciencesSalesManagement.bmp

  • Briefly describe the 3 keys to the success of your initiative (up to 100 words):

    Prior to the launch of the new RD diagnostic algorithm and SOP manual, there 
    was not a unified and consistent standard for managers to assess and directly
    impact sales representative performance. Since implementation, the management
    team has been trained on the new tools, and is now prescribing the principles
    within. The three keys of success include standardization among managers, the
    ability to track performance, and formalized tools to allow correction and
    proactive prevention of sales demise.

  • List the 3 most important lessons your organization learned during this process (up to 100 word):

    Not having a standardized method and process for assessing sales 
    representative performance has negatively impacted sales effectiveness, and
    since progressive disciplinary documentation did not exist, relations between
    management and sales representative suffered. The new RD diagnostic algorithm
    and SOP manual creates a viable solution for managers to help sales
    representatives improve performance and now managers have the ability to
    assess and offer solutions to improve deficiencies.