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Useful Advices - Top Ten Strategies Large Corporations Use Against Small Businesses & Their Countermeasures
1) Fighting attritional battles—a common practice of giant corporations is to start a price war to drive down profits. With more capital, they can afford a loss for longer than their smaller competitors. Incorrect Response—when smaller businesses cut prices it actually helps
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
the corporation because their greater resources eventually insure they’ll win. Correct Response—avoid the attritional battle by selling different items, bundling equivalent products with other merchandise and setting diverse price structures.
2) Building a superstructure— W
2) Building a superstructure— W
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
l-Mart, Office Max and Home Depot build gargantuan superstores known as category killers because they are designed to remove all competition for that type of business. Incorrect Response—trying to carry as much inventory as a huge chain store plays into their strengths. Corr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ct Response—modern entrepreneurs can compete with superstores by finding areas where they are weak. Small businesses should have specialized products and services that the chain stores don’t have. Such as catering to children, the affluent or certain ethnic and regional grou
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s to name just a few.
3) Monopolizing Resources—you think the Sherman and Clayton Anti-trust Acts ended monopoly practices? Think again! Prosecutions at the anti-trust division of the justice department are at an all time low. Wal-Mart, Microsoft and other corporations rou
3) Monopolizing Resources—you think the Sherman and Clayton Anti-trust Acts ended monopoly practices? Think again! Prosecutions at the anti-trust division of the justice department are at an all time low. Wal-Mart, Microsoft and other corporations rou
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
inely violate anti-trust law because the fines are so low. Even if legal action is taken, it can take years to see any results. Incorrect Response—in today’s business climate seeking anti-trust relief is mostly a waste of time. Correct Response—find a substitute for the pro
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
uct that is being monopolized. For instance, an independent, movie theatre owner was forced to pay exorbitant prices for first run movies from the motion picture companies. Instead of accepting these inflated charges he substituted classic movies for newly released films. B
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
doing so, he bypassed the big studio's monopoly.
4) Hijacking employees—corporations will often raid smaller businesses for their employees. Incorrect Response—to enter bidding war to keep your valuable employees. Correct Response—have new hires sign a non-competitive clau
4) Hijacking employees—corporations will often raid smaller businesses for their employees. Incorrect Response—to enter bidding war to keep your valuable employees. Correct Response—have new hires sign a non-competitive clau
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e that prohibits them from working at rival firms. Treat existing employees so well they won’t want to leave.
5) Arbitration—although it is made to sound great, arbitration takes all the teeth out pursuing legal action for business disputes. It is also costly to initiate.
5) Arbitration—although it is made to sound great, arbitration takes all the teeth out pursuing legal action for business disputes. It is also costly to initiate.
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
hereby making it useless for settling small matters. Incorrect Response—assuming arbitration is a fair way to resolve business conflicts. Correct Response—don’t sign agreements with arbitration clauses. If you do, have it modified as close to a court proceeding as possible.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Especially focus on getting complete discovery.
6) Playing a one-sided game—considering opening a franchise? While they’re repeatedly touted as the safest way to own a business, consider this: a) The franchise agreements are all written in favor of the franchiser. b) Ther
6) Playing a one-sided game—considering opening a franchise? While they’re repeatedly touted as the safest way to own a business, consider this: a) The franchise agreements are all written in favor of the franchiser. b) Ther
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
are sometimes hundreds of restrictions in advertising, hiring personnel, product line and many other areas. c) Franchisers promise the franchisee a certain territory, but constantly violate this agreement. d) Working with a franchise combines the worst of self-employment an
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
having an autocratic boss, i.e. long hours with little pay and a lot of rules. Incorrect Response—signing one-sided agreements and then trying to work the mega-corporations afterwards. Correct Response—avoid playing the corporations game. Play your game instead with your o
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
n rules. If you are tempted to become a franchisee at least get the federally mandated Uniform Franchise Offering Circular. This gives you a record of the franchiser history and is an excellent indicator of your probability of success. Also, check with Dun & Bradstreet and
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
he FTC web site http://www.ftc.gov/bcp/menu-fran.htm.
7) Changing the rules—just when you learn the old rules, corporations will create new ones that highly favor them. Corporations will use political influence to get exemptions from the minimum wage, safety regulations, pen
7) Changing the rules—just when you learn the old rules, corporations will create new ones that highly favor them. Corporations will use political influence to get exemptions from the minimum wage, safety regulations, pen
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
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
ion obligations and others. Incorrect Response—complaining to the corporation about their injustice. Correct response—expose their inconsistency to the public. Their hypocrisy often causes them to rescind their rules.
8) Policies—a slight variation on the rule change strat
8) Policies—a slight variation on the rule change strat
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
gy. Corporations act as though their policies are law and then expect everyone to follow their one-side decrees. The “aggressive” accounting policies that led to the recent corporate scandals are a good example of this. Incorrect Response—accepting the unfair policies as la
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
. Correct Response—recognize policies aren’t law. Make corporations follow your contract and the law, not their policies
9) Definition game—corporations will suddenly re-interpret a word or phrase in a contract to give themselves an unfair advantage. Incorrect Response—acc
9) Definition game—corporations will suddenly re-interpret a word or phrase in a contract to give themselves an unfair advantage. Incorrect Response—acc
.
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
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
pting the alterations of words. Correct Response—make sure all contracts are clearly written. Legally challenge all revised definitions.
10) What’s yours is mine—corporations frequently conduct bogus audits, withhold paychecks and tie up other funds with their franchisees,
10) What’s yours is mine—corporations frequently conduct bogus audits, withhold paychecks and tie up other funds with their franchisees,
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
artners and contractors. Then they negotiate their return for their benefit. Incorrect Response—fighting a drawn out court battle. Correct Response—let your adversary know their pursuits will lead to undesired outcomes such as bad publicity, increased taxes or counter suits
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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