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Advice You - Investing In Your Employees Makes Good Business Sense
In today’s global economy, the future belongs to the competent. The future belongs to the people who are continually engaged in educating themselves and gaining more knowledge.
The same holds true for business. The future belongs to the businesses who have the most competent and knowledgeable employees. Raw materials can be a
The same holds true for business. The future belongs to the businesses who have the most competent and knowledgeable employees. Raw materials can be a
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
ccessed by anyone, anywhere. Technology can be copied. The only competitive advantage left for any company is the knowledge of its employees. Knowledge is what gives your company the edge over the competition.
To maintain your competitive edge you can’t stand still. Your organization must constantly be educating your managers
To maintain your competitive edge you can’t stand still. Your organization must constantly be educating your managers
; 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
and employees at every level so that they acquire new knowledge and skills. Businesses that move ahead of the competition and stay there will be the ones that invest in their employees.
Many organizations confuse information with knowledge, but the two are very different. Information, no matter how interesting or useful, does
Many organizations confuse information with knowledge, but the two are very different. Information, no matter how interesting or useful, does
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
’t add value unless your employees apply that information to their work. For example, piles of statistics on employees’ desks are useless, unless they can use them to do their work better.
If you want to have a company that is committed to learning you must start by setting goals for you company so that you know where you wan
If you want to have a company that is committed to learning you must start by setting goals for you company so that you know where you wan
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
it to go. You need to set long-term goals based on your vision of the company’s future.
Your long-range plan needs to describe your company’s future customers, products, services, and competitors. It should also anticipate the personnel, finances, and means of production that will be necessary to make this vision happen.
A
Your long-range plan needs to describe your company’s future customers, products, services, and competitors. It should also anticipate the personnel, finances, and means of production that will be necessary to make this vision happen.
A
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
lan for the future is based on in-depth knowledge about your industry, today and tomorrow. To put this plan together you must have knowledge and to gain the knowledge you need you must acknowledge there are things you don’t know.
Therefore, you must tap every available resource for knowledge, external and internal. Don’t igno
Therefore, you must tap every available resource for knowledge, external and internal. Don’t igno
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
e your employees. They’re in the best place to know what’s going to happen, or what should happen in the company.
The fist place to start in putting together a knowledge-based company is to identify and assess the basic skill levels of all your employees. Once you have identified the skills that are lacking your should invest
The fist place to start in putting together a knowledge-based company is to identify and assess the basic skill levels of all your employees. Once you have identified the skills that are lacking your should invest
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
in or sponsor the education for you employees to acquire these needed skills, either through in-house instruction or through local education agencies.
Investing in basic business, team, communication, and self-management skills training for your employees will pay long term dividends. Provide opportunities for education that
Investing in basic business, team, communication, and self-management skills training for your employees will pay long term dividends. Provide opportunities for education that
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
exceeds basic skills requirements, and encourage employees to take advantage of these opportunities. Every company has employees who believe they know best and have nothing to learn from others. This is where you have to highlight customer dissatisfaction or poor financial performance to persuade them that there is a need for
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
hange, and that they don’t know best.
For any learning program to be successful your employees must have an overall perspective of the company. They must learn all the various components of company’s value system and how their work fits into that system. You must teach them functional skills that go beyond functional literacy
For any learning program to be successful your employees must have an overall perspective of the company. They must learn all the various components of company’s value system and how their work fits into that system. You must teach them functional skills that go beyond functional literacy
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to thinking literacy. Learning must be related to the employees actual work, because employees won’t learn what they feel they won’t use.
Once you’ve discovered what knowledge and skills your company needs to keep moving forward, you have to decide the best way to do this. For example, you could buy knowledge and skills. By t
Once you’ve discovered what knowledge and skills your company needs to keep moving forward, you have to decide the best way to do this. For example, you could buy knowledge and skills. By t
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
is I mean, you could hire people who have the knowledge and skills you’re looking for, or you could form partnerships with other organizations that have the required knowledge and skills you’re looking for.
Another option is you could outsource the functions to another organization that has the required knowledge and skills y
Another option is you could outsource the functions to another organization that has the required knowledge and skills y
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
u’re looking for. You could also choose to rent the knowledge and skills you need by hiring a consultant, subcontracting the work out, or you could obtain assistance from customers, suppliers, colleges, or other professional organizations.
If you want your own employees to have the knowledge and skills that are needed for suc
If you want your own employees to have the knowledge and skills that are needed for suc
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
ess your best strategy is to develop these skills from within. Developing knowledge, rather than buying or renting it, is a better investment if skills and knowledge are the primary source of your company’s competitive advantage and are needed by employees in the long term.
There are many ways to develop knowledge, from forma
There are many ways to develop knowledge, from forma
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
l training programs to mentoring relationships. You could institute formal training programs by sending employees to external programs, developing internal programs, for more custom-made training, or bringing external programs in-house, which can be more cost-effective and timely.
Spreading knowledge that’s already in the com
Spreading knowledge that’s already in the com
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
any is also important. Many companies already have the necessary knowledge and skills in-house, but not in the areas where they are most needed. This is when you have to set up a “knowledge network” which will ensure continued learning by spreading the needed knowledge among employees.
To build a “knowledge network” you have
To build a “knowledge network” you have
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 take an inventory of the knowledge and sets of skills of all your employees regardless of their position, function, or location. Once you have determined the knowledge and skill level of your employees you have to look at the external resources that are available to you such as, consultants, subcontractors, and partners.
On
On
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e you have determined what your skills and knowledge needs are and what you have available to your company then you can begin addressing those needs. You should have a listing of sponsored courses for employees to take and conferences or workshops for them to attend. Have a section of your company devoted to continuous learni
.
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
g that has access to the internet, educational books, magazines, and audio programs.
Employees are the people that drive your company. By investing in their education you are investing in their future. By putting as system in place that enables your employees to connect with any knowledge source about any topic inside or outs
Employees are the people that drive your company. By investing in their education you are investing in their future. By putting as system in place that enables your employees to connect with any knowledge source about any topic inside or outs
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
de of the company you will not only be increasing their loyalty to your business but you’ll also be insuring that your employees are constantly on the cutting edge of new ideas and technology that will make your business a leader in the field.
Copyright©2006 by Joe Love and JLM & Associates, Inc. All rights reserved worldwide
Copyright©2006 by Joe Love and JLM & Associates, Inc. All rights reserved worldwide
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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