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Just Other Articles - Why Would Anyone Hold a Bad Meeting?
Pssst, want a stock tip that will make you rich? Okay, here it is: phone a public
corporation and ask to speak with the CEO.
If a secretary tells you that the CEO expects to be busy in meetings for the next six hundred years, call your broker and
If a secretary tells you that the CEO expects to be busy in meetings for the next six hundred years, call your broker and
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
sell the stock short. Any company unable to
manage an activity that should last an hour is on its way down the financial tubes.
Although it’s true that senior executives spend much of their time in meetings, you can bet that a business is in tro
Although it’s true that senior executives spend much of their time in meetings, you can bet that a business is in tro
; 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
uble if their meetings are out of control.
Surveys show companies waste an average of 20% of their payroll on bad meetings. And that’s just the beginning of the problem. Meetings keep people away from the tasks they were hired to perform -- tasks
Surveys show companies waste an average of 20% of their payroll on bad meetings. And that’s just the beginning of the problem. Meetings keep people away from the tasks they were hired to perform -- tasks
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
that make money for the company and
keep the business ahead of the competition.
Since bad meetings are so wasteful, you may wonder why anyone tolerates them. Unfortunately, many business leaders think that their meetings are just fine. They ev
Since bad meetings are so wasteful, you may wonder why anyone tolerates them. Unfortunately, many business leaders think that their meetings are just fine. They ev
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
en believe that they’re experts at holding effective meetings.
For example, when I phone companies to ask if they would be interested in improving their meetings, I sometimes encounter an assistant who assures me that the executives believe that
For example, when I phone companies to ask if they would be interested in improving their meetings, I sometimes encounter an assistant who assures me that the executives believe that
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
they hold wonderful meetings. Then the assistant
snickers, coughs softly, and regains enough composure to state that they don’t
need my services. At this point the assistant sounds like someone on a sinking ship
who is throwing a life jacket int
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
o the water.
And that must make you wonder: why any intelligent person would hold a meeting that wastes everyone’s time and produces nothing.
There are easy answers such as 1) they don’t know that their meetings could be effective, 2) they don’t
And that must make you wonder: why any intelligent person would hold a meeting that wastes everyone’s time and produces nothing.
There are easy answers such as 1) they don’t know that their meetings could be effective, 2) they don’t
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
know what an effective meeting is like, or 3) they don’t know
how to hold an effective meeting.
But what about the rest of them? That is, what about all of the executives who know how to plan and organize and run an effective business, but still
But what about the rest of them? That is, what about all of the executives who know how to plan and organize and run an effective business, but still
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
hold bad meetings?
Let’s dig deeper. These executives actually want to hold bad meetings because they prove to be useful. Here’s how.
1) They provide refuge.
Bad meetings provide a sophisticated form of executive busyness. Some people find thi
Let’s dig deeper. These executives actually want to hold bad meetings because they prove to be useful. Here’s how.
1) They provide refuge.
Bad meetings provide a sophisticated form of executive busyness. Some people find thi
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
s useful because it keeps them from having to work on difficult tasks such as
planning, coaching, learning, and communicating. Compared to these difficult tasks,
sitting in a conference room is easy. In fact, it is so easy that a six-year old coul
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
d do
it, assuming you could convince the child to stay inside for such a pointless activity.
Better: An effective meeting is business activity where people work together.
2) They avoid responsibility.
Bad meetings never end with decisions, which
Better: An effective meeting is business activity where people work together.
2) They avoid responsibility.
Bad meetings never end with decisions, which
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
means that no one ends up being
held responsible for doing anything. Some people find this useful because
responsibility implies accountability and accountability requires results. Thus,
without responsibility there is no failure and everyone ap
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
pears to perform well. This
masks poor performance so that everyone continues to receive raises and
promotions, even when they accomplish nothing because (you guessed it) they
spent all of their time sitting in meetings.
Better: Effective meeti
Better: Effective meeti
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
ngs produce decisions that someone is responsible for
implementing.
3) They provide excitement.
Bad meetings feature all of the elements of a good drama, such as conflict, tension, and pain. For example, the participants deliver self-aggrandizin
3) They provide excitement.
Bad meetings feature all of the elements of a good drama, such as conflict, tension, and pain. For example, the participants deliver self-aggrandizin
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
g reports, denigrate
their colleagues, and engage in politics. Some really terrible meetings play out like
pathetic battlegrounds with verbal gladiators battling for favors while the boss
watches.
Better: Effective meetings occur in a safe envi
Better: Effective meetings occur in a safe envi
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
ronment of respect.
4) They serve food.
Bad meetings become an enviable executive perk when they provide snacks, coffee, and (sometimes) meals. The attendees then use eating to offset the boredom of having to hear meaningless discussions. It als
4) They serve food.
Bad meetings become an enviable executive perk when they provide snacks, coffee, and (sometimes) meals. The attendees then use eating to offset the boredom of having to hear meaningless discussions. It als
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
o saves them the expense of having to
buy food.
Better: Meals should be a separate activity used to build relationships and (sometimes) rest.
5) They entertain.
Bad meetings resemble a party. People tell stories, trade jokes, and argue over t
Better: Meals should be a separate activity used to build relationships and (sometimes) rest.
5) They entertain.
Bad meetings resemble a party. People tell stories, trade jokes, and argue over t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rivia. Some meetings feature comedy performances by the office fool. Others
feature humorous belittlements by the office bully. And if neither of these occurs,
the absolutely unbelievable discussions amaze and entertain everyone.
Better: Effectiv
Better: Effectiv
.
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
e meetings use process tools to make methodical progress toward
results.
All of this shows why the type of meetings held in a company should be of major concern when making investment decisions. If the executives need to learn how, that can be
All of this shows why the type of meetings held in a company should be of major concern when making investment decisions. If the executives need to learn how, that can be
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
fixed by scheduling a workshop. Then you might consider investing in
the company, after they complete the workshop. If, however, the executives hold
bad meetings to avoid fundamental leadership responsibilities, you should seek
other investments
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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