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A recent report, titled "The War for Talent" stated that over the next 20 years, employee talent will be what differentiates successful companies from those going bust. The late 90’s gave us a glimpse of the talent war, but wa

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

s nothing compared to what’s ahead. Here are five ways to bulletproof your company before the battle begins.

Practice What You Preach

Recent studies of America’s largest companies show that a strong reputation for moral and

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

Examples of combination products may in

ethical conduct performed better financially in terms of their returns on investment and equity, and their sales and profit growth. How do you begin applying this in your company? At PrideStaff, every time an employee is hire

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

, the owner takes them into his office and goes over the 10 standards of ethical conduct that the company was founded on. We also review these standards several times a year to encourage their daily application in the company

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

.

Why is it so important to employees that they work for a company with strong ethics and values? Because your personal identity is strongly tied to your corporation. People often make assumptions about others based upon wh

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

Combination pro

re they work. I know it sounds shallow, but what’s the first question you’re often asked after meeting someone? “So…what do you do?” Employees want to be proud when they answer that question.

Make Every Employee a Cheerlea

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

er

Employees are the first direct contact between a corporation and its customers. They are also the single most important source of word-of-mouth advertising that attracts other talented employees.

So how do you start maki

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

ng cheerleaders? You can start by buying everyone pom-poms. I’m not kidding! You need to make your company a fun place to work, a place that encourages employees to build relationships. An employee is much more likely to l

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

ok forward to coming to work if they have a best friend there. I recommend you check out the motivational program called FISH!, based on the world famous Pike Place fish market in Seattle. It provides a step by step guide to

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

uilding an amazing corporate culture.

Create and Convey a Strong Corporate Vision

Ultimately, your vision tells your employees and the rest of the world what you do and why you’re doing it. But just hanging up a poster with

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

your corporate vision isn’t enough to build your brand as an employer of choice. Your vision should weave through every employee interaction. From your newsletter to your new hire orientation, your vision should serve as a c

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

Following aspects would a

onstant reminder of where you’re going and provide the motivation to get you there.

I think it’s important to point out the difference between a vision and a mission statement. Your vision should provide a higher calling to

dd to the challenges in developing combination products:

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

greater good while your mission statement should provide a framework for your existence in relation to your clients. The former speaks to the heart while the latter speaks to the mind. Your vision answers the question, “wha

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

really matters in this world ” and your mission statement answers the question, “what really matters in my clients world.”

Build Partnerships with Other Companies with Great Brands

In every industry, you can point to one or

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

two companies that stand out from the rest of the crowd in terms of their reputation. Your goal is to find those companies with excellent reputations, who don’t compete with your company, and develop strategic alliances with

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

those companies. Online, this strategy is known as affiliate marketing. I’ve heard other companies calling it a formal referral network. Whatever you call your partnerships with other companies, make sure you leverage those

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

Professional from academic institutions, pharmaceutical industries, health care indust

relationships with non-competing businesses that sell to your demographic.

There’s a saying that goes, “Birds of the same feather flock together.” When two or more corporations enter into a partnership or work together; their

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

reputations may be attributed to each other. Keep this in mind as your think about other businesses to form partnerships with.

Become World Famous

Becoming world famous should be one of your major objectives in your long t

.

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

rm business strategy. Why? Because building a business that draws the best of the best requires a brand that is known around the globe. How many people do you know that want to work at Microsoft just because it’s Microsoft?

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

Companies that provide selfless information through particip

Building a world famous brand should be your ultimate goal in the visibility of your business. How do you get world famous? You start working on it today. Remember, the journey of a thousand miles begins with a single step

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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What do Successful people do. How do I achieve financial success? How do I start a home-based business?

Traditionally Accountants have been seen as something to be feared and a necessary evil, but things are changing. Accountants need to look at their attitude to their clients and perhaps rethink the approach they use.

With 250+ paralegal programs approved by the American Bar Association (ABA) and an estimated 1,000 colleges and universities, law schools and proprietary schools offering formal paralegal training programs - the field is highly represented.

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