Useful Advices - Business

The feedback I'm talking about here isn't some sort of formalised appraisal that takes place with your team members every month, or every six months or once a year. This feed

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

back happens continually and it happens when you see or hear something you want to give feedback on. The trick is - keep it simple.

If you see or hear something you do like -

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

Examples of combination products may in

you tell the team member about it. If you see or hear something you don't like or feel could be done better - you tell the team member about it and you coach them.

Confirmi

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

ng Feedback is about giving the good news. It's about confirming to your team member that you approve of whatever it is you've seen them do or heard them say. It's a complime

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

nt or a thank you.

It also seems to be something that some managers have great difficulty with. They take the attitude that - "why tell people that you're pleased with them w

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

Combination pro

hen they're only doing what they're paid to do in the first place."

A great deal of this attitude stems from managers believing they having to be big and tough and macho. And

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

managers don't do all that touchy-feely stuff, saying thank you is for wimps.

If you still feel a bit like that, think for a moment how you felt if a manager ever gave you

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

a genuine compliment or a thank you for a job well done. I bet you felt pretty good and probably motivated to do even better. I'm also sure you didn't think your boss was a b

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

ig softy or that he lacked courage; probably the opposite.

Successful managers realise that almost everyone reacts positively to Confirming Feedback. They feel better about

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

themselves and they feel motivated to repeat the behaviour. There is a saying that says - "You get more of what you reward."

Michael LeBoeuf tells this fable in his book 'Th

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

e Greatest Management Principle in the World.' -

A man went fishing one day. He looked over the side of his boat and saw a snake with a frog in its mouth. Feeling sorry for

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

Following aspects would a

the frog, he reached down, gently took the frog from the snake and set the frog free. But then he felt sorry for the snake. He looked around the boat, but he had no food. All

dd to the challenges in developing combination products:

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

he had was a bottle of whisky; so he opened the bottle and gave the snake a few shots. The snake want off happy, the frog was happy and the man was happy to have performed su

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

ch a good deed. He thought everything was fine until about ten minutes passed and he heard something knock against the side of the boat. With stunned disbelief, the fisherman

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

looked down and saw the snake was back with two frogs!

So if you tell one of your team that you like the way they have completed some aspect of their work, then you'll find

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

that they continue to do that work in the same way or probably even better.

However, your feedback must be genuine.

Sometimes on a seminar, I ask the group - "Who likes rec

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

Professional from academic institutions, pharmaceutical industries, health care indust

eiving compliments?" Often only a minority will put up their hand. I then ask them - "Who likes receiving a genuine compliment?" This time almost everyone puts up their hand.

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

People often feel that a compliment isn't really meant and they sometimes feel a bit patronised. That's why it's important that your Confirming Feedback is genuine and it

so

.

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

unds genuine. Don't say it if you don't mean it!

Sam Walton the founder of Wal-Mart once said - "Nothing else can substitute for a few well chosen, well timed, sincere words

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

Companies that provide selfless information through particip

of praise. They're absolutely free and worth a fortune."

Confirming Feedback is worth a fortune to you in terms of motivating your team and achieving your goals and targets.

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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