Just Other Articles

Executive coaching is here to stay…Retaining the services of an executive coach or mentor represents what I believe to be the ultimate business advantage available to professionals. With the numerous studies that have been authored which provide ample data affirming the

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

extraordinary results that can be achieved through utilizing an executive coach I'm always amazed at the number of professionals who don't yet have a coach on retainer. In today's blog post I'll examine the reasons why I believe all (yes I said all) executives and entrep

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

Examples of combination products may in

reneurs should have a coach or mentor.

Executives who rise to the C-suite do so largely based upon their ability to consistently make sound decisions. However while it may take years of solid decision making to reach the boardroom it often times only takes one bad decis

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

on to fall from the ivory tower. The reality is that in today's competitive business world an executive is only as good as his/her last decision, or their ability to stay ahead of contemporaries and competitors.

For all the things that Thomas Jefferson was known and rev

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

ered for, the belief that he was most passionate about was the principle that led him to found the University of Virginia…He believed that learning is a life long endeavor whose flame should not be extinguished until a persons last breath had been drawn.

Regrettably, as

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

Combination pro

sound as the Jeffersonian principle of continuing education is, it too often runs contrary to how most executives manage their careers. Most successful executives make heavy investments in building their skill sets, knowledge base and subject matter expertise early in t

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

eir careers only to make minimal investments in their professional development when they reach the C-suite. It is however at the C-suite level that an executive must be on top of his/her game as they have the broadest sphere of influence, the largest ability to impact a

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

business and they also now have the most at risk…It is now that they should make the heaviest investment in refining their game because it is at the executive level that increased performance will pay the biggest dividends.

The only thing senior executives and entrepren

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

eurs can count on is that their performance is constantly being evaluated by virtually everyone in the value chain. Combine that with the fact the performance standards and expectations are constantly being raised and it is no wonder that executives are seeking to levera

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

e productivity through the use of outside experts in the form of professional coaches and mentors.

In addition to my other duties at N2growth I also maintain an active personal coaching practice. My coaching clients are some of today's leading executives and entrepreneu

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

rs. For most of these professionals the decision to retain my services was driven by one of two distinct motivations. Some of my clients had a defensive motive in that they wanted to protect what they had worked so hard to achieve while others had an offensive motive in

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

Following aspects would a

that they were looking to take their companies or careers to the next level…Regardless of which camp they fell into these were already very successful people who recognized that its lonely at the top and that they could not afford to keep operating in a vacuum. I actuall

dd to the challenges in developing combination products:

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

have a few clients where I am just one member of a coaching team that is on call to deliver real time advice and assistance when the need arises.

Think of any goal that you could set for yourself, or any standard that you could benchmark yourself against and you'll fin

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

d an intrinsic flaw…the problem is that you only know what you know and you don't know what you don't know. No world-class athlete makes it to the top of their game without a coach so why should you or your executives try to perfect your game in the vacuum of isolation.

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

Who do you turn to for advice and direction? Are you operating in a bubble and making decisions in a relative vacuum? Do you know what you don't know?

The following questions represent a few things to consider when evaluating a potential coach:

Who's paying the coac

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

? It is my recommendation that you personally retain the coach. You want someone whom you can trust implicitly and whose loyalty is pledged to you and you alone. If the coach is being paid for by the company or its investors then while you might still receive good ad

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

Professional from academic institutions, pharmaceutical industries, health care indust

vice, the coach's loyalty will reside with someone other than you.

Is your coach qualified? Remember that the coaching industry is full of practitioners that paid a few hundred dollars for a professional designation, but yet have little or no real experience. Mak

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

e sure that your coach not only possesses a track record, but that their skill sets and competencies are relevant to your needs.

Does your coach have references? The best indicator of a coach's ability to help you will be based on how he has helped others…No succ

.

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

ssful clients equals a coach that should be avoided.

What does the coach charge for his/her services? Remember, you get what you pay for…If your coach is only charging a few hundred dollars a month then that is likely representative of the caliber of advice you'l

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

Companies that provide selfless information through particip

l receive. If your total annual compensation is well into the six figures then you can afford (actually you can't not afford) to retain the services of a tier-one coach.

If you would like to discuss how coaching can benefit you or your executives feel free to contact me

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):
<a href="http://www.justotherarticles.org.ua/article/2709/justotherarticles-Executive-Coaching--The-Ultimate-Advantage.html">Executive Coaching - The Ultimate Advantage</a>

BB link (for phorums):
[url=http://www.justotherarticles.org.ua/article/2709/justotherarticles-Executive-Coaching--The-Ultimate-Advantage.html]Executive Coaching - The Ultimate Advantage[/url]

Year-end often means the annual performance review dance is about to begin. Our suggestion - don't do them at all if you're only doing once a year! Performance reviews need to be ongoing to be most effective for you and your employees.

If you are going to start a new business in the state of Oregon, you should look for sources of business tax credits for Oregon companies. These credits are available not only when starting a new business, but also when expanding an existing business. Here is some information to help you get tax credits for companies in Oregon.

What is a model? A model is a purposeful simplification of reality. Models can take on many forms. A built to scale look alike, a mathematical equation, a spreadsheet, or a person, a scene, and many other forms. In all cases, the model uses only part of reality, that’s why it’s a simplification. And in all cases, the way one reduces the complexity of real life, is chosen with a purpose. The purpose is to focus on particular characteristics, at the expense of losing extraneous detail.

Tags

Links

Just Other Articles - Executive Coaching - The Ultimate Advantage

Related Articles: