Useful Advices - Business

We spend 40 . . . or 45 . . . or 50 . . . or more hours at work each week. Many of us spend more time with those we work with than we do our families. For us to be content and fulfilled people,

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

that time must be valuable for more than a dollar. . .

We want to be engaged in our work. We yearn for work that is enjoyable, meaningful and engaging. When we are engaged we are safer on the j

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

Examples of combination products may in

ob, more productive and more willing and able to delight Customers.

It is for these basic reasons that organizational culture matters. It is the right thing for an organization to do - to think

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

about the work environment, working relationships and “how we do things here.”

Focusing on building and sustaining an organizational culture is one way of showing that people are the organization

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 most valuable asset.

There are of course many other bottom line business reasons to focus on and build organizational culture. Here are seven of those reasons.

A strong culture is a talent

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

Combination pro

-attractor. Your organizational culture is part of the package that prospective employees look at when assessing your organization. Gone are the days of selecting the person you want from a l

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

arge eager pool. The talent market is tighter and those looking for a new organization are more selective than ever. The best people want more than a salary and good benefits. They want an envi

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

onment they can enjoy and succeed in.

A strong culture is talent-retainer. How likely are people to stay if they have other options and don’t love where they are? Your organizational cul

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

ture is a key component of a person’s desire to stay.

A strong culture engages people. People want to be engaged in their work. According to a Gallup survey at least 22 million American

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

workers are extremely negative or “actively disengaged” – this loss of productivity is estimated to be worth between $250-$300 Billion annually. Your culture can engage people. Engagement create

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

greater productivity, which can impact profitability. Need I say more?

A strong culture creates energy and momentum. Build a culture that is vibrant and allows people to be valued and e

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

Following aspects would a

xpress themselves and you will create a very real energy. That positive energy will permeate the organization and create a new momentum for success. Energy is contagious and will build on itself

dd to the challenges in developing combination products:

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

, reinforcing the culture and the attractiveness of the organization.

A strong culture changes the view of “work.” Most people have a negative connotation of the word work. Work equals d

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

rudgery, 9-5, “the salt mine.” When you create a culture that is attractive, people’s view of “going to work” will change. Would you rather see work as drudgery or a joy? Which do you think you

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

employees would prefer? Which will lead to the best results?

A strong culture creates greater synergy. A strong culture brings people together. When people have the opportunity to (and

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

are expected to) communicate and get to know each other better, they will find new connections. These connections will lead to new ideas and greater productivity - in other words, you will be cre

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

Professional from academic institutions, pharmaceutical industries, health care indust

ating synergy. Literally, 1 + 1 + right culture = more than 10. How is that for leverage?

A strong culture makes everyone more successful. Any one of the other six reasons should be reas

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

n enough to focus on organizational culture. But the bottom line is that an investment of time, talent and focus on organizational culture will give you all of the above benefits. Not only is cr

.

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

eating a better culture a good thing to do for the human capital in the business, it makes good business sense too.

Hopefully this article has helped you see that time spent enhancing your organi

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

Companies that provide selfless information through particip

zational culture will be time wisely invested. Regardless of your current culture, it is never too late to enhance it and to begin creating the benefits described above.

What are you waiting for

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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Anyone can conduct a fund raising event. Many of these are non-profit meaning the proceeds collected doesn’t go to anyone except the recipients. There are a few things people need to go in order to make this happen and here are some of those tips.

Who do you have on your reference list? Is it your babysitter from when you were five? Or someone you spoke with last week? Ensure your references are the most positive they can be so you can land that job.

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