Useful Advices - Business

The way in which corporate values are described tells a lot about a company. And therefore they offer some valuable information to guide the organizat

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

ion. A simple set of four to five values describe much of the priorities and preferences in the organization. The first value is the most important. H

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

Examples of combination products may in

re is an (another) example:

Integrity.
Integrity is a value that is often found at financials. Integrity is like a duty that you owe because peo

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

le trust in you. A company that sells shoes, alter-shave or beverages does not necessary or predominantly have to excel in integrity. Once you have bo

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

ght and received your shoes as a client you do no longer bother what happens to the company who sold them. This is different from a situation when you

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

Combination pro

leave your money at a bank.

Teamwork. Why is teamwork important? And when?
This: “… is the essence of our ability to succeed as a trusted partne

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

,” shows a belief and this: “…we learn from each other and share our skills and resources across organizational boundaries.” Is why teamwork is import

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

ant. For example to learn from each other. It also important for a financial service provider. If you offer a service and you are depending on a few p

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

ople with certain knowledge to help you your organization will become inflexible…

Respect.
“…We respect every individual. We … value… equal oppo

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

tunity and diversity, at the same time supporting personal growth and development …and we value … entrepreneurial spirit of each individual.”

This va

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

ue is also important. By introducing this value the company institutionalizes the internal police officer or referee -- which is a productive role. T

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

Following aspects would a

is value combines well with “teamwork.” You could read the above sentence also like: “…diversity creates opportunities within the team.”

Professiona

dd to the challenges in developing combination products:

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

ism. “…We are committed to the highest standards of professionalism.” This is also clear. So far the four values show some simple guidelines for orga

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

izing activities. Sometimes the values carry additional information. This could give the whole statement more depth, but it also weakens them somehow

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

. In the professionalism value we also read: “… we pursue innovation… we deploy imagination…” When you think about professionalism you do not quite t

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

ink about innovation at the same time. Professionalism is often combined with quality and quality and innovation are often enemies; just think about t

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

Professional from academic institutions, pharmaceutical industries, health care indust

e first version of a new product.. there is hardly any quality because there is no benchmark to compare it with.

If on the other hand innovative woul

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

have been selected as a value instead of professionalism, a financial company would have much more problems, because it does fit the tradition of con

.

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

ervation and security. So this company combined some values and you can read between the lines.

The same counts for “entrepreneurial” that is added t

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

Companies that provide selfless information through particip

“respect.” Read this as…”although this employee does not quite fit in the team, he or she is valued for its entrepreneurial luggage.

© 2007 Hans Boo

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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Useful Advices - Corporate Values or How to Manage Employees by a Simple Guideline

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