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1. Find The Obvious - Drucker looked for the obvious things in order to identify people’s greatest needs. It 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

akes discipline to find them…and will lead to tremendous opportunities in your small business.

2. Help Employees

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

Examples of combination products may in

Grow - Show the employees of your small business how to learn. In the knowledge economy we have today, Drucker be

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

lieved continuous learning is the key for growth.

3. Teach - To become a better learner…teach. Drucker taught

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

American history, Japanese art, religion and statistics during his career, because teaching requires learning new con

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

Combination pro

cepts, not just facts.

4. Measure Yourself - Whenever you make a key decision, write down your expectations o

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

f the outcome, then go back nine months later and see how things turned out. Drucker did this regularly in order to i

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

dentify his strengths and weaknesses as a decision-maker.

5. Be Curious - “My greatest strength as a consulta

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

t is to be ignorant and ask a few questions,” said Drucker. Be sure to ask your employees lots of questions to keep t

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

hem focused on your goals.

6. Seek Consistency - Look for inconsistencies between what is and what ought to b

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

e in your small business. Then, set out to align things in the way you know they should be.

7. Know How Customers

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

Following aspects would a

Think - Seek innovation, not novelty. Innovation creates value, while novelty creates amusement. To determine th

dd to the challenges in developing combination products:

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

difference, ask yourself not “Do we like it?”…but “Will customers pay for it?”

8. Make Things Better - “The

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

test of a leader is not what happens during his lifetime, but what happens when he leaves.” The only thing that matte

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

rs is how leaders touch the lives of those around them.

9. Create Systems - “Efficiency is doing better what

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

is already being done.” Look at all of the moving parts in your small business, then systematically determine how to

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

Professional from academic institutions, pharmaceutical industries, health care indust

o each of them better.

10. Manage Yourself - “Time is the scarcest resource and unless it is managed nothing

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

else can be managed.” Focus on “Genius Time” – those things that have the biggest impact on your small business.

.

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

11. Go All In - “Unless commitment is made, there are only promises and hopes... but no plans.” Make sure your te

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

Companies that provide selfless information through particip

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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The doctor often examines the tongue to determine the general state of health of the patient. The tongue is the organ used by the body for communication. Similarly, we determine the morale level and state of mental health of the company by examining the manner of its communication. What the heart and mind think, the tongue speaks.

There is not lack of jobs for good talent today and the best way to keep your best employees around is to provide them with incentives to stay on. The end result is of course the continued growth of your business.

The two key ingredients of a successful business are a reasonable business idea and a thorough business plan, which will put the meat on the bones and turn your idea into something concrete and viable.

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