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Advice You - Ten Top Benefits of Strategic Thinking and Planning For Business and Not For Profit Organizations
What are the real benefits of strategic thinking and planning for business for a not for profit organization? This is one
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
of the most frequently asked questions I have encountered in more than 30 years of work in strategic planning endeavors. I
; 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
preparing to write this article I reflected on those years of experience and chose what I believe to be ten top benefits o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
strategic thinking and planning. These are not listed in a priority order.
+ Influence rather than be influenced. This
+ Influence rather than be influenced. This
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
eans being proactive rather than reactive.
+ Clarify or re-define your role and your target group. This has the benefit o
+ Clarify or re-define your role and your target group. This has the benefit o
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
bringing everyone together with a strategic focus.
+ Deal positively with the inevitable changes that will occur. This w
+ Deal positively with the inevitable changes that will occur. This w
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
ll assist in the development of a confident and flexible company or organization that can adapt to change.
+ Address criti
+ Address criti
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
al issues you are facing. This is a significant benefit because it facilitates resolving issues in a timely manner that ca
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
hold back the growth of your business if left unresolved.
+ Find innovative ways to achieve goals. This helps create and
+ Find innovative ways to achieve goals. This helps create and
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
foster an environment of creativity in your business and organization and will facilitate positive growth.
+ Decrease cris
+ Decrease cris
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s management. This will reduce the amount of time spent
“putting out fires” in the organization and expand the time avail
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
ble to work “on the business,” as opposed to just working “in the business.”
+ Give continuity during changing times or wh
+ Give continuity during changing times or wh
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
n there is new leadership. This provides a stabilizing factor to the company during change and also will create the feelin
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
of opportunities brought about by change.
+ Use resources efficiently and effectively. This positively impacts the abilit
+ Use resources efficiently and effectively. This positively impacts the abilit
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
of the business to grow at a higher rate with an “improved bottom line.”
+ Anticipate issues and develop policies and pro
+ Anticipate issues and develop policies and pro
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
edures to meet future needs. This enhances decision making in the organization.
+ Gain commitment and bring your group to
+ Gain commitment and bring your group to
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
ether to work on common goals. This helps build stronger teams with a clear sense of direction.
Do you have any idea of t
Do you have any idea of t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e potential benefits that strategic thinking and planning can bring to your business or organization? If you would like to
.
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
learn more about the power of strategic thinking and planning and how these techniques can provide major benefits to you an
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
your business, please contact Glenn Ebersole through my website at www.businesscoach4u.com or by email at jgecoach@aol.com
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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