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Digg It - Great Managers Attract (and Keep) Great Talent
Widespread research suggests that people do not leave organizations; they leave their managers. The implication of this finding is that managers who are respected and seen as support 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 ive of the people who work with them are indispensable to successful organizations. Without them, competent people may leave their current organization in search of better treatment. ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in The resultant costs of recruitment, engagement and subsequent retention can be enormous. Less tangible are the indirect costs associated with the loss of corporate intelligence and lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. the impact on morale. I ask participants in management workshops to isolate the characteristics of individuals with whom they have worked who they deem to have been exceptional mana here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe ers. Their answers seldom focus on the educational background or technical capabilities of those people. Instead they emphasize that exceptional managers are passionate, have vision, d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro are caring, treat people supportively, make work fun, challenge people to be their best, provide lots of feedback, listen intently and encourage teamwork. Traditionally, these skill 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 s have been labelled, somewhat pejoratively, as the “soft skills”. The insinuation is that they are “touchy feely”, too mushy for the real world of work and, in some instances, even 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 inappropriate in a “professional” environment. My experience contradicts this and supports the thoughts of Roger Enrico, former CEO and Chair of PepsiCo, who says that “the soft stuf nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically is always harder than the hard stuff”. Successful organizations must invest in developing the skills that are critical for the managers of their people to function effectively. Wha 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 t are they? For many years we have taught managers that they need to provide clear direction, to communicate better, to vary their management style to fit individuals’ level of devel ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi opment and to attempt to engage people in the pursuit of the organization’s raison d’?tre. These skills have certainly helped managers to become more productive. But there is more… ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a In the mid to late 1990s the topic of emotional intelligence gained prominence in management literature. Research at Harvard suggested that emotional intelligence was at least four t dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod mes as critical as a predictor of success as either IQ or technical skills. Another study at the Centre for Creative Leadership indicated that for successful managers, emotional inte cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin lligence is nearly five times as important as their IQ or technical skills. Emotional intelligence is the ability to effectively perceive, manage and use one’s emotions and to effec tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen tively manage emotional connections with other people. While there are eleven components of emotional intelligence, I will only mention a few. To maximize the contribution of our pe 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 ople and their talents, research into emotional intelligence says that we must support managers as they develop skills in a variety of areas. These include helping managers learn to: ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust assess their strengths and weaknesses; manage their strong impulses; remain optimistic in spite of severe challenges; listen more effectively; become more adaptable to rapidly changi y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ng conditions; become more emotionally self-aware; and demonstrate empathy. Managers who refine these skills will be seen as more authentic by those they lead. The outcome will be mo . 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 re people who feel that they are respected and valued by their managers. Under these conditions, people are more likely to be fully engaged in their workplace and to contribute their elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip maximum effort for their manager. They are also less likely to shop the market for other opportunities. Undoubtedly, effective managers are indispensable to successful organization 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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