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While diversity is a problem to most organizations, successful corporations learn to manage to their full advantage. By adopting new structure and work practices that are radically different from those traditional minded management, these organizations managed to acquire a competitive advantage in the global market place. The whole purpo

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

se of managing diversity is to bring out the best of employees Talent, Abilities, Skills and Knowledge for the benefits of individual employees as well as the well-being of the corporations. When workforce diversity is well managed, no employee in the organization feels disadvantaged.

Business firms are beginning to recognize the power

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

Examples of combination products may in

f workforce diversity as a competitive tool. Cascio in his book 'Managing Human Resource: Productivity, Quality of Work life, Profits (published by McGraw Hill in 2006) recommends asking the following questions in order to justify that diversity is, in fact a competitive factor:

How can diversity help business corporati

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

ns expand their operation into global market?

How can diversity help to build and sustain brand equity and improve consumer spending?

How does workforce diversity enhances an organization's HR strategies?

How does the diversity element build corporate image among the consumers?

Does diversity improve opera

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

ional efficiency?How?Cascio citing studies done by several researchers, answers each of the above question with examples to make a business case for diversity. In the process of discussing the business case for diversity, the author want the readers to ask an important question – 'What steps can you take as a manager to become

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

Combination pro

ore effective in a work environment that is more diverse than ever?”.

Workforce diversity should be seen in terms of age, gender. Race, ethnic composition, religion and nationality. Successful 21st century corporations no longer view diversity as a problematic issue. They view diversity as an opportunity that can be utilized to compete

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

ore effectively in the local and global markets.

According to Cascio (2006, p.119) managing diversity means aiming for a 'heterogeneous workforce' that is capable of achieving its potential in a non-discriminatory, fair and just work environment.

What are the reasons for diversity being considered as an important activity in managing 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

e human resources? Cascio lists the following 5 reasons as to why diversity has become an important activity:

Shift from manufacturing to a service economy
Globalization
Innovative business strategies that demands teamwork
Mergers and Alliances
Changing labor market conditions

Unlike the

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

obs in the manufacturing industry, service industry (banking, financial services) job holders need to maintain close and constant contact with their customers. Service industry employees are required to understand the needs and expectations of their customers. With increased customer base that is diverse, no business firm has the luxury

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

o ignore the customer groups. To take full advantage of the opportunity corporations need to bring employees who understand and can relate to the diverse customer base. This is to ensure in the words of Cascio “workforce should mirror their customers”. This enables a smooth operations and more cordial interactions between the business fi

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

ms and their customers.

Recognizing the limited market locally, more and more corporations look at the global market for sustaining and enhancing the market share. With the Globalization of markets, business corporations should learn how to manage the workforce diversity. Successful corporations try to learn from their colleagues around

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

Following aspects would a

the world. This will enhance corporate performance. That would not be possible without a system to manage diversity.

In their attempt to cope with the problems and challenges facing their corporations, managers realize the limitations of the traditional forms of organizational structure. The strategies that need to be put in place can n

dd to the challenges in developing combination products:

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

longer be managed by the traditional hierarchy based command and control system. For these strategies to work you need team effort. Teams basically means diverse labor force. Successful team management is about successfully managing workforce diversity. To emphasize the usefulness of teams, Cascio (2006, p.123)quotes the words from Ted

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

hilds, vice president, IBM Global Workforce Diversity: “When a company's vision includes the growing mix of the talent pool and the customer base, then the real argument for diversity is the business case”.

Mergers, acquisitions and alliances are becoming more common then ever before. When two business corporations decide to pool their

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

xpertise and other resources following mergers, acquisitions and alliances know the difficulties they will face, if they do not have an effective system in place to make them work together. The cultures of merged companies differ. The strategic partner's way of doing things may be different. The values, beliefs and the norms may not be a

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

100 per cent match. To avoid culture shock and clash of culture, organizations should put a system in place, so that employees at all level understand and accept their differences, while working towards taking full advantage of diversity that came about following mergers, acquisitions and strategic alliance. Here the focus is on seizing

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

Professional from academic institutions, pharmaceutical industries, health care indust

the opportunities arising out of diversity and being proactive in managing the diversity related issues. To make this work, managers at the top level must be convinced of the competitive advantages of workforce diversity.

The labor market is changing rapidly. More women are entering the labor market and they continue to remain in the la

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

or market for longer period of time. Business corporations should adopt appropriate measures to meet the unique needs of the women. Balancing work and life appears to be the main focus, when it comes to managing female workforce. Cascio's Managing Human Resources: productivity, Quality of Work Life, Profits lists the following six ways 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

at corporations may adopt to take the interests and well being of their women employees:

Alternative career paths
Extended leave
Flexible work scheduling
Flexi-time
Job sharing
Tele-working

Organizations need to train their employees about diversity and its usefulness to the well

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

Companies that provide selfless information through particip

eing of the corporation. Diversity training is a critical part when managing diversity. According to Cascio (p.124) employees need to 'understand and value' the differences among them. The acceptance of differences in a positive manner is critical if the corporation is keen to enable innovation thorough creative thinking in the workplace

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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