Useful Advices - Business

According to Robert Levering, coauthor of Fortune’s annual “100 Best Companies to Work for in America”, it is not by luck or chance that the best

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

companies to work for are the result of the attitudes and actions of management. The management at these companies sincerely believes that the employees

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

Examples of combination products may in

are the ones who are primarily responsible for the success (or failure) of the business.

And Mr. Levering should know. He has spent the last 25 years wri

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

ing about workplaces, specifically, great workplaces. He has found that regardless of the industry, size, age, or location of the companies he has studied

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

, that employees of these terrific workplaces invariably talk about how they feel treated as individuals, that they feel respected; that they feel managem

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

Combination pro

nt recognizes their contributions to the organization. To Mr. Levering, it is clear (and I agree) that recognition, in all its forms, strongly enhances mo

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

rale and productivity in the workplace.

Most organizations realize that recognition is important. It is estimated that U.S. companies spend about $18 bil

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

ion annually on recognition and incentives. Eighty-six percent of organizations have some kind of recognition program in place, and yet most employees sti

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

ll feel inadequately recognized. Why is it that, with all the money spent and all the programs in place, employees still don’t feel recognized?

Many mana

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

ers and supervisors will argue that they don’t have time to make anyone’s day; they are too busy making sure the work gets done. In terms of priorities, r

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

ecognition typically comes dead last. While this may be understandable, it is a big mistake. Management is easier when recognition is a priority.

Employe

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

Following aspects would a

es crave meaningful recognition. When they talk about the recognition they receive, they’re talking about how valued they feel. Focus on the essence of wh

dd to the challenges in developing combination products:

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

t recognition is. Look at recognition in the bigger context and the long term. It’s about building relationships and taking a personal, genuine interest i

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

n people and their preferences. So long as you do that and continue to look for ways to refine the recognition that you offer, employees will feel recogni

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

ed. That, in turn, will improve moral, productivity, and profitability – and everybody wins.

Start by habitually sending your employees greeting cards. R

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

ecognize birthdays, the spouse's birthday, maybe even the employees' children's birthdays. The employee's employment anniversary - tell them how much they

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

Professional from academic institutions, pharmaceutical industries, health care indust

are appreciated. Commend a job well-done - send a note of thanks. When employees see that you took the time to send a card and personally communicate with

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

them, they will know they are recognized by you. Become someone who is remembered as one who remembers. And these days, online technology makes sending c

.

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

rds a snap. Check out this online greeting card service that allows you to pick cards, wri

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

Companies that provide selfless information through particip

te personal messages in your handwriting with your signature, then stuffs, puts a real stamp on the envelop, and mails it for you right from your computer

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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