Advice You - Business

How many of you have ever had to deal with an unhappy client or customer? What did you do? Did you feel prepared to deal with the unhappy client or cu

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

stomer? Yes, sooner or later, in every business there appears the unhappy client or customer. They are dissatisfied with your service or product. The

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

Examples of combination products may in

issue of dissatisfaction may be real or only a perception, but if it is perceived it is believed and there is a problem. Ah, but Your Strategic Thinkin

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

Coach wants you to realize that a problem also means an OPPORTUNITY!

The criticism from the client or customer is very valuable and the mindset of you

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

company and your employees is critical to recovering and correcting the situation. The criticism should be treasured and this is the attitude that mus

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

Combination pro

be adopted by the company and its staff. By listening and hearing what the client has to say you are able to gather very important information that wi

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

l allow you to improve your company and its performance. Now, please understand that I am not talking about the abusive and obnoxious client with uneth

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

cal requests or those that abuse your employees.

I imagine a number of readers, if hey are really honest, will admit they have not adopted the attitude

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

that criticism can be a good thing for their company and could certainly improve on the effective use of criticism to grow their business. So, Your Str

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

tegic Thinking Business Coach will share some tips to help you strategically respond to criticism.

Tip #1: Provide open and multiple channels for feed

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

ack from your clients.

Tip #2: Listen and hear what the client has to say. Make sure you have a clear understanding of the specifics of the client cr

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

Following aspects would a

iticism.

Tip #3: Do not become defensive. Do everything you can to resist the temptation of going on the defensive with your client. This is no time

dd to the challenges in developing combination products:

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

to make excuses.

Tip #4: Develop and offer solutions, not excuses.

Tip #5: Assign a top priority to the implementation of your solution. Commit to

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

ollow-through on the solution in an agreed upon time frame.

Strategic Tip #6: Communicate openly within your firm about the criticism and problem. Wo

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

king through this type of adversity strengthens individuals, teams and relationships.

Strategic Tip #7: Discuss the problem and determine the “lessons

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

learned” from the experience. Develop a plan to implement the “lessons learned.”

Strategic Tip #8: Thank your client for bringing the problem to your

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

Professional from academic institutions, pharmaceutical industries, health care indust

attention.

Strategic Tip #9: Use longer term vision when viewing the solutions and their costs. Use the concept of the “lifetime value” of a client i

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

your deliberations about a cost to fix the problem, in lieu of a short term view of the immediate cost.

Strategic Tip #10: Develop a strategic action

.

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

plan today for that future call from an unhappy client or customer so that you can capitalize on the opportunity it will bring.

Your strategic thinking

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

Companies that provide selfless information through particip

business coach encourages you to fully realize the benefits of business coaching to more strategically address criticism from your clients and customers

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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Potentially profitable businesses can fail because of poor management of cash flow.

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Advice You - Tips To Deal With Unhappy Clients, From Your Strategic Thinking Business Coach

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