Useful Advices - Business

Integrity and honesty. Seems they're always in the news these days. If it's not the lobbyist-incited exposure of someone's political misbehaviors, it's author

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

s "embellishing" on their autobiographies. Oh, and let's not forget the hardy crew of the HMS Embellishment: Marketing people.

Hmmm. That's us.

Surely each

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

of us has at one time or another used a little white lie to avoid trouble, make a resume seem better than we think it is, or add some "interest" to a story to

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ld in praise of a personal exploit. Even the squeaky-cleanest of us has some such fib to reveal.

But let's examine integrity as though there were a trend her

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

e, a trend toward consistent truth-bending. Have we become hardened by the lies we're told nearly every day, writing off those that seem harmless enough and s

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

hrieking in astonishment at others? That answer is for sociologists and psychologists to debate.

What I want to know is this: Is it okay to alter the truth a

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

bout a product or service? I'm not talking about putting your best foot forward here, showing your best side to the camera, or deciding not to expose minor pr

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

oduct problems. I'm talking about exaggerating the purported benefits of our goods. Of fabricating testimonials. Of positioning our product as one thing when

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

it is in reality something else.

I'll admit it. I have an opinion. It's NO.

Here's why.

The Customer Relationship: "Trust Me"

If what we want is a

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

long-term relationship with our customers -- and no sane business person wants anything else -- then we must be worthy of the customer's choice to spend his o

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

her money on our products and services. We must offer them something they perceive to be of unique value, and we must deliver on the promise implicit in that

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

value. By consistently fulfilling our promises to our customers, we become trustworthy. It's the only way to gain customer trust.

So... If being trustworthy

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

is our goal in business, and being trustworthy means promising something and consistently delivering on that promise, what happens if we make a promise about

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

value that isn't all it's cracked up to be?

Don't Believe Everything You See...

... and half of what you hear.

Companies that have long-term, consi

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

stent success have three characteristics about the promises they make:

They promise something that's relevant to their customers.
They make s

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ure they can deliver on that promise.

They communicate that promise in clear, unambiguous, consistent language at every point of customer contact.

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

l> There should be no news here. The reality of promise, the value of integrity, and the process of becoming trustworthy should be taught in every marketing

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

class, every business seminar, and in every customer service workshop.

I'll take that a step further: We should be teaching these things to our children and

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

in the schools. We should demonstrate our commitment to integrity and the keeping of our promises in everything we do.

And before I step off the soapbox: In

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

the end, we owe it to ourselves as much as our customers and clients to make trustworthiness our goal. It isn't just a good thing to do.

It's the right thing

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.usefuladvices.org.ua/article/18954/usefuladvices-Integrity-and-the-Company-Promise.html">Integrity and the Company Promise</a>

BB link (for phorums):
[url=http://www.usefuladvices.org.ua/article/18954/usefuladvices-Integrity-and-the-Company-Promise.html]Integrity and the Company Promise[/url]

New Hampshire's favorable tax climate has become a magnet to businesses deciding to move to New Hampshire from other states.

Does color work? Who's to say. The research by the yellow pages people says, yes, worth the money. Competitive media can show numbers that contradict those claims.

Due to more demanding schedules at work and home, an increasing number of Americans are ordering carry-out from casual restaurants instead of eating inside. Restaurateurs who execute carry-out properly will stand out from the competition. Americans are in a hurry. From balancing deadlines in the office with raising a family at home, men and women alike have...

Tags

Links

Useful Advices - Integrity and the Company Promise

Related Articles: