Advice You - Business

Do MBA’s make better managers or business leaders? The MBA debate continues furiously. So is the popularity of MBA programs worldwide

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

. Though popular the management studies might be they make a very miniscule percent of successful CEO’s and business leaders compared

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

Examples of combination products may in

o legendary leaders of business who are non MBA’s.

An MBA degree is at best a degree which due to its expensiveness and academic entry

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

barriers attracts the top 5% of the students who are generally good in disciplined academics. The HR fraternity mistakenly thinks beca

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

use they constitute the top of the academic populace, especially the premium Management Educational Institutes in the world, they must

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

Combination pro

e good.

The usefulness of the management education program has been hard to measure and evaluate. While it cannot be denied the stres

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

on analytical abilities and concepts does give a broad view of what constitutes management, one can also learn the same through self s

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

tudies easily if one can only exercise the disciplines of the academics into one’s own lifestyle.

While we may have some big names who

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

are business management graduates from the top global institutions, we also have the legends like Bill Gates, Michael Dell, Steve Jobs

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

to mention a few while no major names who are MBA’s come to mind as easily. Even Jack Welch of GE fame is a non MBA.

If business suc

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

ess is a matter of knowledge which is what the expensive management education business is touting, the knowledge industry itself is dom

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

Following aspects would a

inated by people who have hardly been to a management school and made a big success of it.

The legendary Peter Drucker does not come f

dd to the challenges in developing combination products:

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

om a management educational background. Most of his management thought comes from practical observation of the business in action as a

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

consultant and researcher. The management principles and theories propounded by him are taught in the management schools. His manager

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

ial thinking is at least 30 years ahead as some of his thoughts written even in the 50’s is only now recognized as indispensable to run

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

ing a business.

On the other side of the coin is the MBA’s running companies like the GE, entire nation as in the case of President Ge

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

Professional from academic institutions, pharmaceutical industries, health care indust

rge Bush or the top global consulting organizations. How successfully is a moot point?

While the contribution of the MBA’s cannot be

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

denied in the mid levels, the leadership abilities are questionable. The phenomenal salaries and perks associated with the MBA’s and 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

e HR skewer towards them ignores the potential available and learning ability of the entire workforce. If the same amount of money and

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

Companies that provide selfless information through particip

resources are spent in training and developing the non MBA workforce, organizations may be able to develop more leaders at a lower cost

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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As the Web becomes more and more a multimedia environment, corporations are starting to use their financial resources, and inventory of commercial assets and programming (not to be confused with computer programming), to deliver their marketing messages. The question is can smaller businesses compete, and if so, how?

In today's business world, the older, more experienced manager is often afraid of losing a good position to a younger, more technologically-savvy member of the new generation climbing up the corporate ladder. This fear is real, but there is a way for this new trend of promoting the brightest-of-the-youngest first to be a benefit on both sides of the fence.

Budget Setting Reason for budgets. Interface of budgets with Costing exercise. Relevance in Business Plan

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