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Digg It - Lessons from the Sky
As we gear up for summer--and a well-deserved vacation--let's compare running a restaurant to managing an airline.
Manage like the airlines? And what, lose a ton of money? The analogy seems odd, but once you get past t
Manage like the airlines? And what, lose a ton of money? The analogy seems odd, but once you get past t
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
he initial shock, it should make more sense. There are two different philosophies about running airlines these days: status treatment, where the more you fly, the better you're treated; and treating everyone the same.
; 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
et's look at the two and how you can apply it to building guest and employee loyalty.
Status Treatment
Fly more frequently--thus spending more money--and you receive additional perks. Many tangible rewards are provide
Status Treatment
Fly more frequently--thus spending more money--and you receive additional perks. Many tangible rewards are provide
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
: better choice of seats, more bonus miles, special lines for check-in and security, ability to upgrade, and so on. Additionally, there are the intangible perks like more favorable treatment when boarding, bending the r
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
les to keep you happy, and being placed on the top of the standby list for an earlier flight.
Who prefers this kind of treatment? The frequent flier of course! There is a direct relationship between the production they
Who prefers this kind of treatment? The frequent flier of course! There is a direct relationship between the production they
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
provide--and the money they spend--and the treatment they receive. Does this system anger some folks? Yes, but they're the infrequent, non-producing fliers who spend little money with the airline.
Everyone's The Same
Everyone's The Same
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
The other school of thought is to treat everyone the same. No special perks or favors for the frequent traveler--just equal treatment.
Who prefers this treatment? Typically, it's the infrequent flier who has plenty of
Who prefers this treatment? Typically, it's the infrequent flier who has plenty of
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
ime to get to the airport early and get a better seat. There's no correlation between performance (that is, spending money with the airline) and benefit. The reward goes to those who arrive the earliest. Who gets angere
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
standing in long lines and getting a crummy seat? The frequent producer--who is costly to lose.
It's true that Southwest Airlines, which is known for its service (and financial performance), treats everyone the same.
It's true that Southwest Airlines, which is known for its service (and financial performance), treats everyone the same.
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
ut this analogy is not about the service on the planes; it's about the approach towards their performers. Airlines have plenty of cost issues forcing them to lose money.
Let's see how this applies to the restaurant bus
Let's see how this applies to the restaurant bus
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ness.
If you're a high-performing employee, which type of manager would you prefer? Just like the frequent flier, you'd like to work for someone who treats the top performers better. After all, you do more of the work.
If you're a high-performing employee, which type of manager would you prefer? Just like the frequent flier, you'd like to work for someone who treats the top performers better. After all, you do more of the work.
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
Guests feel the same way. If you're a regular, you want to be rewarded for it--and if you get treated better, you keep returning. Many people go out of their way to remain loyal to a brand in return for flier miles or
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
points. (I've received all kinds of free golf and ski items just for renting from one car company.) Create a loyalty-building system for guests and employees. It rewards performance.
On the other hand, if as an employe
On the other hand, if as an employe
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
you're an "infrequent performer," you'd prefer the manager who treats everyone the same. Being a frequent guest or performer in this situation nets you nothing but being another order to process or paycheck to hand out
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
This restaurant is just another place to eat or work.
Provide rewards and incentives for your top performers and frequent guests. Incentivize employees who are selling better than others, putting out great product wit
Provide rewards and incentives for your top performers and frequent guests. Incentivize employees who are selling better than others, putting out great product wit
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
minimal waste on the line, or providing great service over the phone, at the drive-thru, or for delivery--it will drive your business and keep your good employee with you.
Treating regular guests in the same manner wi
Treating regular guests in the same manner wi
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
ll create brand loyalty and drive sales.
Does it tick off some employees or guests? Yes, but it's the ones who don't produce results for you.
If you manage all your guests and all your employees the same, you'll lose
Does it tick off some employees or guests? Yes, but it's the ones who don't produce results for you.
If you manage all your guests and all your employees the same, you'll lose
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
he top-performing employees and guests to your competitors since they're not valued for their efforts or for the business they give you. Worst of all, these top-producing guests and employees might become loyal to your
.
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
ompetition.
Be fair! Provide the best for the best and let the non-producers go work for your competitor. Not only will your performance and results improve by losing those folks, but maybe they'll make you look even b
Be fair! Provide the best for the best and let the non-producers go work for your competitor. Not only will your performance and results improve by losing those folks, but maybe they'll make you look even b
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
tter when they go work for the competitor and still don't perform.
Enjoy the vacation.
This column originally appeared in the April 2003 issue of QSR. Subscribe and get QSR delivered to your door twelve times per year
Enjoy the vacation.
This column originally appeared in the April 2003 issue of QSR. Subscribe and get QSR delivered to your door twelve times per year
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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