Advice You - Business

The reputation of a company or organization is an intangible asset, but it is an extremely important and v

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

aluable asset. Some people believe and have written that a good reputation is an organization's most price

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

Examples of combination products may in

ess asset. Unfortunately businesses face inevitable crisis situations with the potential to seriously dama

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

e a good reputation.

One may ask what can be done to establish a good reputation, keep that good reputati

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

on and when hit by a crisis, repair a damaged reputation? Is there a prescription out there that provides

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

Combination pro

ome solid advice on this subject? Well, the “PR Doctor” researched the subject and was referred to a book

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

ntitled “The 18 Immutable Laws of Corporate Reputation. Creating, Protecting and Repairing Your Most Valua

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

ble Asset,” and authored by Ronald J. Alsop.

Mr. Alsop provides information on “lessons learned” from rea

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

world company and organization crises and provides a roadmap with his 18 Immutable Laws. He breaks those

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

8 laws into 3 parts. Part 1 is about establishing a good reputation. Part 2 deals with keeping that good r

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

putation and then Part 3 presents information on repairing a damaged reputation.

Part 1 - Establishing A

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

Following aspects would a

Good Reputation Law One: Maximize Your Most Powerful Asset_

Law Two: Know Thyself - Measure Your Reputati

dd to the challenges in developing combination products:

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

n Law Three: Learn to Play to Many Audiences_

Law Four: Live Your Values and Ethics Law Five: Be a Model

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

itizen_

Law Six: Convey a Compelling Corporate Vision_

Law Seven: Create Emotional Appeal Part 2 - Keepi

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

ng A Good Reputation Law Eight: Recognize Your Shortcomings Law Nine: Stay Vigilant Law Ten: Make Your Emp

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

oyees Your Reputation Champions Law Eleven: Control the Internet Before It Controls You Law Twelve: Speak

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

Professional from academic institutions, pharmaceutical industries, health care indust

ith a Single Voice Law Thirteen: Beware the Dangers of Reputation Rub-off Part 3 - Repairing A Damaged Rep

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

utation Law Fourteen: Manage Crises with Finesse Law Fifteen: Fix It Right the First Time Law Sixteen: Nev

.

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

r Underestimate the Public's Cynicism Law Seventeen: Remember - Being Defensive Is Offensive Law Eighteen:

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

Companies that provide selfless information through particip

If All Else Fails, Change Your Name For a good summary of each of the 18 laws, please go to: www.bizsum.co

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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A corporate or company logo plays an important role in projecting its image to the people. As a result, it is very important to evaluate whether your company logo depicts the right image or not.

Many people today have lost jobs after decades of service; many others suffer within jobs they can see no way out of. How does one survive the humiliation, shame and uncertainty job loss can invoke? How do we find peace of mind within a guilded cage? Acceptance is the path back to peace.

It goes by many names -- conflict prevention, conflict resolution, conflict management, the names go on. These terms were all created to combat a similar problem. For the most part, people who deal with these issues all agree with the same principle: Conflict resolution at an early stage is less costly and more manageable than trying to deal with its repercussions later.

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