Advice You - Business

Regardless of where you open your briefcase or palm pilot each day - at a large corporation, a small business or the end of your dining room table – the key to staying employable the rest of your life is your 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

wn creative action. The person who is going to be successful is not going to succeed just because of good work. That is a given. It is expected. Crafting your competitive advantage is what is going to get yo

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

Examples of combination products may in

u ahead in these crazy, changing times. Pat attention to and practice the following three tactics to not only stay in the game but to get ahead of the crowd.

Think Of Your Career As A Business.
The

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

business of career management is that---an independent business that you manage---even if you work for someone else. In this world of downsizing, restructuring, and mergers, you, not the company, must be in the

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

driver’s seat of your career. Always think of yourself as self-employed.

Ask yourself these tough but important questions: What business am I really in? What is my product line? What is the target market f

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

Combination pro

or my products? For example, if I am an accountant then, what is it that I really do that people will pay for? Can I list three features and three benefits of my talents? Do I know my current worth in the ma

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

rketplace? It doesn’t matter what your title is. What matters is, if what you do has value and is needed by someone or some company.

You must start looking at your workplace with new eyes---as a marketplace

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

of buyers and sellers---and start thinking of your career as a business. Launch your business called “Me, Inc.” by defining your a product line, targeting your customers, and having a well thought-out career st

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

ategy. Therefore, YOU, not the unpredictable winds of change, become the driving force for your career. Exit job security. Enter career security.

Have Skills, Will Travel.
What’s your competitive

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

advantage? What do you bring to the employment table? You carry with you, wherever you go, a large suitcase or portfolio that holds all of your skills, experiences, and accomplishments. What’s in your portfoli

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

o? Is it heavy with many skills or light with only a few? Do you know if it would be valued in lots of different places or just a limited number?

To be competitive, you must periodically audit your portfolio

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

Following aspects would a

and benchmark your skills. How do you compare with your peers in terms of education, experience, training, career progression? Are you new and improved? Or, are you just the same person you were three, fiv

dd to the challenges in developing combination products:

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

, ten years ago? Do you have the right mix of skills, knowledge and experiences to position yourself for the future? Or, do you need to repackage yourself in some way? Getting ahead tomorrow means getting bett

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

er today and throughout your work life. Avoid becoming a professional dinosaur.

The key question is not where you stand on the corporate ladder. It is: “What do you know how to do; and where else can you do i

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

t.” A well honed and portable portfolio will provide you with the greatest security in today’s changing and competitive business environment.

Become Street Smart.
What will keep you in the race as

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

the rules of the workplace road continue to change constantly? Initiative, visibility, and flexibility are the three cornerstones of success in the new career game.

Exercise leadership. You can’t afford to cr

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

Professional from academic institutions, pharmaceutical industries, health care indust

uch behind your desk, buried in your everyday work, and hope for the best. Go beyond your job description and direct your energy to the top priorities of your boss, your department, your team. Make yourself in

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

dispensable.

Stand up and be seen. Promote yourself, not be your title, but by the outcomes or results of what you’re doing. Your reputation can either pave your way or get in the way of your success. You

.

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

can start making a name for yourself by being involved in successful assignments that allow you to be visible to a wide range of people who could have an impact on your career. These assignments could include

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

Companies that provide selfless information through particip

for example: Building a new team from scratch; or overseeing the introduction of new technology; or taking on projects that require liaison or communications between departments, functional areas and vendors

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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Career assistance for any position. The first in a series on selecting the right company for your career. This is a discussion on two types of entities based on the leadership; entrepreneur or corporate executive. This article allows you to take a moment to think about the leadership of any company you are considering to help you bring your career to the next level.

Some believe that Rapid Industrialization and cutthroat competition causes a killing of our environment. Does it? Or is mankind simply to blame? Native Indians are known to have burned down forests to chase their prey out of the tree lines or move neighboring tribes out of their territorial perceived regions.

When knowledge is based on truth it is powerful! When it is critical knowledge, its presence can drive our success, while its absence may contribute to our failure. I will attempt to convey in this ...

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Advice You - Career Success: Get Ahead of the Crowd

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