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Just Other Articles - A Business Meta - Fore
Many professional golfers go on to develop successful and significant business interests. Greg Norman is a standout example of this. Many senior business leaders play golf at a high level. This link between success at golf and successful business may not be coincidental, the attribute
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 required for both are very similar. Consider the following.
Applying Fundamentals
Champion golfers spend hours getting the fundamentals right. They call this practicing. Very few golfers become champions without establishing the right grip, shoulder turn and stanc
Applying Fundamentals
Champion golfers spend hours getting the fundamentals right. They call this practicing. Very few golfers become champions without establishing the right grip, shoulder turn and stanc
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
. These fundamentals are developed and harnessed with extraordinary rigour. Still fewer champion golfers spend their time ‘reinventing the wheel’. Reverse grips and broomstick putters were an evolution in the game aimed at overcoming ‘the yips’ not a means of improving putting.
Busin
Busin
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ess also relies on fundamentals – the fundamentals of doing the job right. Whether the function is operations, marketing, administration or finance there are fundamental good practices that should be applied. Champion businesses rigorously adopt known good practice to their individual
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
situation.
Strategy
No champion golfer would approach a tournament without first understanding the layout of the course, knowing the various distances, where the hazards are and probably having played the course before. For every hole a strategy is determined before
Strategy
No champion golfer would approach a tournament without first understanding the layout of the course, knowing the various distances, where the hazards are and probably having played the course before. For every hole a strategy is determined before
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
stepping onto the tee. This is called course management.
The equivalent in business is understanding the market, collecting data that helps determine the ‘lay of the land’, knowing what hazards may lie ahead and how they are to be avoided. No successful business ‘steps up to the tee
The equivalent in business is understanding the market, collecting data that helps determine the ‘lay of the land’, knowing what hazards may lie ahead and how they are to be avoided. No successful business ‘steps up to the tee
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
hoping that they have the right club in their hand!
Flexibility and Range
No golfer can be a champion by mastering only one club or shot. Despite good fundamentals and strategy, the weather, lie and execution can result in a misplaced shot or undesirable o
Flexibility and Range
No golfer can be a champion by mastering only one club or shot. Despite good fundamentals and strategy, the weather, lie and execution can result in a misplaced shot or undesirable o
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
utcome. Shot making flexibility and use of a range of clubs define a champion.
Businesses that are unable to adapt to unexpected outcomes generally fail. Imagine being on the golf course and saying, ‘I don’t care if the ball is in a bunker, I planned to use my putter for my third sho
Businesses that are unable to adapt to unexpected outcomes generally fail. Imagine being on the golf course and saying, ‘I don’t care if the ball is in a bunker, I planned to use my putter for my third sho
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
and that is what I am going to do!’ The flexibility to adapt to situations, without abandoning strategy, and to manage different and new situations separates the professionals from the amateurs.
Use of a Caddy and Coach
All professional golfers use a caddy
Use of a Caddy and Coach
All professional golfers use a caddy
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
and most have a coach. These two advisors help the golfer in both skill development (coach) and execution assistance (caddy). The job of both the coach and the caddy is not to play the game for the golfer but to help him get the most out of himself. The most famous of golf coaches, D
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
vid Leadbetter, has never won a major championship yet he is the most sought after coach.
Compare this with business where advisors and consultants are often derided for not having direct experience. In fact, in many instances having an outside advisor or coach is seen as a weakness.
Compare this with business where advisors and consultants are often derided for not having direct experience. In fact, in many instances having an outside advisor or coach is seen as a weakness.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
Perhaps if more businesses approached their advisors as caddies rather than players they might then get more out of themselves. Knowing how to do something yourself and knowing how to communicate to others how to do something are two entirely different skills.
Both Small an
Both Small an
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Big Things Count
Few sights are more awesome in golf than seeing a +300m drive that lands smack in the middle of the fairway. Yet, in golf this scores exactly the same as a two-centimetre putt. In fact without the putt the hole cannot be completed.
In any business there ar
Few sights are more awesome in golf than seeing a +300m drive that lands smack in the middle of the fairway. Yet, in golf this scores exactly the same as a two-centimetre putt. In fact without the putt the hole cannot be completed.
In any business there ar
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
e many actions that can be taken that are high profile and demonstrate progress but it can be the smaller detail that counts just as much. For example, generating sales is important but if you don’t collect the cheques or trade out of terms then you will be unlikely to win the game. T
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
e expression ‘drive for show and putt for dough’ is equally at home in business.
Equipment
Champion golfers do have the best equipment – but the equipment doesn’t make them a champion. Tiger Woods with cane clubs would beat a weekend hacker (like me) using the lates
Equipment
Champion golfers do have the best equipment – but the equipment doesn’t make them a champion. Tiger Woods with cane clubs would beat a weekend hacker (like me) using the lates
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
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
t equipment. Equipment can enhance your game but it is how you use it that is more important.
In business we have all seen companies that have invested in new equipment or systems for very little sustainable gain. Equipment can make a difference if the change is fundamental but in ma
In business we have all seen companies that have invested in new equipment or systems for very little sustainable gain. Equipment can make a difference if the change is fundamental but in ma
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
y cases the difference between a champion and a hacker is not the equipment, it is how it is used.
Passion
Imagine playing golf for 40 weeks of the year. Sound good? Now imagine having to hit a thousand balls before breakfast, everyday. Then having to practice every
Passion
Imagine playing golf for 40 weeks of the year. Sound good? Now imagine having to hit a thousand balls before breakfast, everyday. Then having to practice every
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
afternoon. Then moving to a new hotel every week (or sleeping in your car because you can’t afford a hotel). Then missing the cut and not getting paid a cent. Life on the PGA tour may look good but getting there takes passion and commitment. Plus this is the ultimate performance base
.
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
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
system; if you don’t make the cut you don’t get paid. Ian Baker Finch had a period where he missed 32 cuts in a row, ouch!
Most successful business leaders have this sort of passion, a belief in themselves, their ability and their company. Success rarely comes without passion and a
Most successful business leaders have this sort of passion, a belief in themselves, their ability and their company. Success rarely comes without passion and a
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
willingness to do the ‘hard yards’.
The golf course is often seen as the place to do business, seal the deal and win the client. However next time you tee up consider whether your business is applying, the fundamentals, strategy, execution and passion that are needed to be a champion
The golf course is often seen as the place to do business, seal the deal and win the client. However next time you tee up consider whether your business is applying, the fundamentals, strategy, execution and passion that are needed to be a champion
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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