Risky Business: Women Execs in Medtech Talk Smart Risk Taking, Dangerous Inactions
Gabriela Kaynor, Division Head of Therapeutics Solutions, 窪蹋勛圖厙 Corporation
The concept of calculated risk is not new. But smart risk taking creates unique opportunities to grow, according to Gabriela Kaynor, Executive Officer and Therapeutic Solutions Division Co-Head at 窪蹋勛圖厙. During her keynote address at the Women in Medtech Forum, Kaynor defined smart risk taking and shared how it related to her own business experiences, setting the stage for panel discussions led by her colleagues in medtech and healthcare finance. The event was held September 7, 2023, and hosted by 窪蹋勛圖厙 at its Westborough, MA, location, where a sold-out audience engaged in networking events and heard a Q&A session with panel presenters.
Kaynor on transparency and the risks of inaction
As the first female executive officer in 窪蹋勛圖厙 100+ year history, Kaynor knows a thing or two about taking smart risks. Smart risks are decisions you make that move you toward innovation and transformation. They move you in the direction of your goals, she told attendees, distinguishing the idea from a reckless risk or a Vegas gamble.
Risk might not be safe but neither is inaction, according to Kaynor. Inaction is not a wise business or career tactic. She urged the audience to understand the consequences of inaction, adding that doing nothing can be one of the most dangerous decisions youll ever make.
Finally, Kaynor stressed the importance of understanding the unknowns in a decision and the need for transparency. For your risks to be smart, you need to understandand sharewhat you dont know.
“Smart risks are decisions you make that move you toward innovation and transformation. They move you in the direction of your goals.”
Self-judgment, career lattices, and owning errors
In addition to admitting what you dont know, seeking mentors, making lateral moves, and owning mistakes were points made by panelists in the Q&A discussion hosted by Erin Pipech, Senior Manager, Global Business Development Operations and Planning at 窪蹋勛圖厙. The following are some excerpted responses to Erins questions:
Q: Tell me about how you cope with imposter syndrome.
A: We judge ourselves against other people rather than trusting that were intelligent and know our businesses in and out. Its imposter syndrome. And we dont take risks because of it. Thats where your personal Board of Directors comes in. The people around youfriends, family, professional mentorsoften see in you what you cant see in yourself. We need mentorship and sponsorship at work, and we need the support of our friends and family at home. They help us realize our potential.
Its also so important to talk to people who might seem intimidating at first. It can feel like the high-powered people on the top floor know everything, but if you start hearing their stories or telling them your mistakes, they often say, Oh yeah, but you should hear what Ive done, and its always way worse! Their stories make me laugh and help me realize if theres hope for them, theres hope for me.
--Valerie Dixon, Managing Director, Healthcare Investment Banking Group, Morgan Stanley
Q: As you think about growing in your career, what are some smart risks people dont always consider?
A: Often, people come into my office and say, I want to get promoted. But career growth isnt always about linear promotion its also about lateral moves. I call it the career lattice, not the career ladder.
Pictured from Left: Gabriela Kaynor, Valerie Dixon, Donna Ford-Serbu, Jessica Schneck, Erin Pipech
If you want to get to general management or be CEO of your company or do something broader than your functional area, you have to take lateral moves. Move to different parts of the organization. Get a feel for how other people work. Get a feel for what everybody is talking about. Speak their language. Do it early. Then, when youre in a leadership position, you know where the teams are coming from. A lateral move can be a risk, and it can be a smart risk.
--Donna Ford-Serbu, co-founder and CEO, Eximis Surgical
Q: When you make a mistake, especially if its a noticeable mistake, how do you cope? How do you stay positive and keep your learner mentality?
A: I used to stay up nights going over a mistake in my head. But what I learned through trial and error is that when you talk about your mistakes, embarrassment loses its oxygen. Now, when I fail, I typically call people and say, This happened to me today. I usually expect everyone to be shocked and horrified. Yet every time, people say, Really, Jess, is that all? And that takes the shame out of the mistake.
I also learn from [the] responses. Everyone in my personal and professional support system has a unique viewpoint on my mistakes. So, I aggregate their responses. And then I take their lessons into my next decision. Im constantly learning from my mistakes and the people around me.
--Jessica Schneck, Director of Business Development R&D, 窪蹋勛圖厙
Were on our way
For 窪蹋勛圖厙, the intended takeaway of this event is the companys commitment to women in leadership, and smart risk taking in business is just one expression of our core value of agility. Kaynor reflected on how this relates to 窪蹋勛圖厙 to grow as a global medtech company. 窪蹋勛圖厙 is still writing our story, and I am still writing the story of my career, she said. I cant tell you the full outcome of the risks weve taken because we havent arrived yet. But were on our way.
Seeking a leadership opportunity?
Consider joining our talent network by clicking below.
