Useful Advices - Business

It seems almost everyone can use a little something extra to help them increase their effectiveness or give them a ompetitive edge. Those in professional service firms are no exception; however, they do face unique challenges. Wit

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

h so much emphasis on billable hours for accountants and lawyers, how can they find the time to devote to personal development? Could asking for help demonstrate needed initiative or threaten credibility? Despite these challenges,

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

Examples of combination products may in

more professionals are seeking mentors.

Contrary to popular belief, mentoring programs are not solely for the young and new in their careers. Even more seasoned professionals find benefit by addressing issues related to personal

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

evelopment, business development, and life/work balance. Mentoring conversations are less about learning the ropes, and more about thinking strategically about goals.

Before you start your search for a mentor, decide what it is y

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

u would most want to accomplish through the process. It will help you make the best decision.

Where do you find good mentors? Here are a few places to look:

Inside your firm. Fortunately, more organizations are i

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

Combination pro

entifying ways to help employees create and develop mutually rewarding mentoring relationships. Some offer formal mentoring programs. Formal mentoring programs should not be a simple matching game. While it might seem logical to p

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

ir a more experienced professional with an individual newer in his career, other issues should be considered first:

The needs and goals of individuals
An individual’s commitment level to personal growth
A pote

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

tial mentor’s commitment level to the process

The organization’s top priorities

If there’s no formal mentoring program, simply ask someone whose work you admire if they would be willing to spend some time with you

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

ver the next few months to help you focus on some goals. You don’t even have to use the word “mentor” which can seem too daunting of a role for some.

Outside your firm. There are some mentor programs that exist apart f

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

om the organization. They attract individuals from a variety of organizations. Participants in these programs are assigned a mentor from outside the organization. These programs help you foster relations beyond your own internal n

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

twork and across industries. Such programs can be found at national and local levels.

Not everyone should be in a mentoring program. These programs work best for those who are self-motivated and open to change. Mentor

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

Following aspects would a

ing programs can be structured a variety of ways. Some include peer coaching or group coaching. Ideally a mentoring program should be integrated with the strategic objectives of the firm. Determine the specific desired outcomes of

dd to the challenges in developing combination products:

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

the program and measures of success.

You may also consider working with an external coach. An external coach provides a personalized approach to help you achieve specific goals. Explore the possibility of your organization sponso

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

ing a coaching engagement; otherwise, consider the process an investment in your own development.

Whether you’re working with a coach or a mentor, here are some tips on how to make the process most successful.

Determi

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

e the outcomes both of you want to achieve first. For example, some may want to learn or hone a skill like presenting or strategic planning. Some may want to gain more knowledge about a particular career path. Some may want suppor

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

dealing with a particular challenge or opportunity.

Establish best ways to communicate. Will you meet in person, by phone or both? How frequently will you meet? Meetings need not be time consuming when you’re highly focused.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Set a goal. Set a specific concrete goal to accomplish during a given time frame. Make sure it’s not too general such as, “I want to be a better leader.” Instead it might be something like, “I want to meet with each person in

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

the practice group within 30 days to get feedback.” Initiate a particular meeting or project that helps you exercise the specific skill you want to develop. Being goal focused helps establish greater accountability for results.

<

.

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

i>Debrief. Establish checkpoints along the way to assess how things are going for both of you. Determine what would make the relationship or process even better.
While mentoring relationships can be interesting and e

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

Companies that provide selfless information through particip

joyable, they should also be productive. These relationships should provide opportunities for both learning and action. The best relationships have the potential to create value for the employee, the mentor and the firm as a whole

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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If only “they” had given it to me on time. I asked “them” and they did not reply. I sent an email to “them” but have not yet had a response. We don’t have the budget we need. We don’t have the resources we need. Our organisational structure does not allow us to perform they way we need to. Are you tired of this? Tired of the lame excuses for non performance, missing targets, missing deadlines?

While you don't want to waste your precious time on a downline who isn't willing to work, you do want step in and motivate, encourage, support, and keep your downline positive right from the start. But how do you go about this?

Learn how to calculate your own unique selling points by examing your competitors with this simple to use list of 50 questions.

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Useful Advices - Mentoring Programs for Professional Service Firms: Creating Mentoring Relationships

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