| Just Other Articles |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Business > Empowerment Makes Dollars and Sense |
|
Just Other Articles - Empowerment Makes Dollars and Sense
Empowerment exists when employees have the authority to make decisions and take
appropriate actions without first seeking approval from o 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 thers. Empowerment allows frontline service staff to act quickly for their customers, improving customer satisfaction and boosting staff mo ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in ale. Brendan sent this example: ‘I use an internet grocery delivery in London called Ocado. I’m impressed with this company for the desig lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. n of their website, the friendliness of the delivery staff, commitment to a one-hour delivery window and much more! Everything is designed here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe or what the customer wants, not what is easy for the company. They get a lot of repeat business from me and my friends. ‘Recently, Ocado s d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro bstituted an item, a standard practice when something I order is not available. I did not notice the substitution at the time of delivery ( 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 although Ocado usually makes it clear when they have done this). ‘When the next delivery arrived, I asked to return the item (worth 5 poun 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 s) for a refund. The delivery person immediately took 5 pounds off my bill and then said, “You know what, you can keep the item anyway.” ‘ nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically The driver didn’t have to call anyone else to ask if he could do this, he just did it. Terrific! The company empowers him and trusts him 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 look after their customers right at the doorstep. Ocado will earn those 5 pounds from me many times over.’ Empowering the delivery person ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ives the customer what he or she wants and is best for the company, too. Imagine the administrative costs of processing a refund claim,
b ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ringing a product back to the warehouse, restocking the shelf, adjusting the inventory, etc. All that effort for an item of such low value! dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod Yet that’s exactly what most grocery stores around the world would do. Grocery is a low-margin business. The best, fastest and most intell cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin igent thing to do is what the driver did: turn a low-value item into a high-value customer moment. Key Learning Point -------------- tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ----------------------------------------------------------------- Empowerment works for your customers, your staff and your organizati 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 n. Customers get what they need done quickly and done right. The staff becomes more positive and professional. Your organization earns a re ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust putation (and loyal customers) no amount of advertising can buy. Action Steps ------------------------------------------------------ y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ------------------------- Ask your frontline staff what they cannot do for customers without first getting a manager’s approval. Now a . 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 sk yourself what you might gain if staff could act immediately. If there are credit risks or financial limits involved, set them high enoug elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip to be worth the time and effort your administrative procedures will require. Otherwise, let your service team do what’s right – right away tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Add More Profits to Your Cleaning Company by Offering Spring Cleaning Services Another Year Hating Your Job or Loving Life
|