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Digg It - Power of Pinpointing Accountability
I have always said that if I were to write a book on effective management principles, the first chapter in that book would be about the importance of pinpointing responsibility among an owner’s or a general manager’s reporting units. Af
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
ter all, one of the most popular definitions of management is getting work done through others.
#1 Management Pitfall: An unwillingness to delegate.
Many times the owner or general manager is the most knowledgeable and the most capabl
#1 Management Pitfall: An unwillingness to delegate.
Many times the owner or general manager is the most knowledgeable and the most capabl
; 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
e person in the company; he or she can perform many tasks better than anyone else. The problem arises when managers decide that they are the only people in an organization who can really perform a task “right.”
While this may be true,
While this may be true,
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
when managers feel a strong need to be in total control by personally taking charge of the company’s most critical tasks, they have made a very personally limiting decision. Why? Because any single person has just so many hours in a da
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
y. So managers who are poor at delegating are limited by their own personal mental and physical stamina.
A manager friend of mine recently told me a great story that I believe illustrates this point extremely well. This particular own
A manager friend of mine recently told me a great story that I believe illustrates this point extremely well. This particular own
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
r had founded his business almost 40 years ago and had designed the company’s first product catalog about 25 years ago. The catalog was highly successful, so he continued to hold on tightly to this task himself. No one else in the orga
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
nization was as capable at selecting products for the catalog or laying out the product selection.
As the business grew, however, the owner became busier and busier with involvement in other critical management functions: Banking relat
As the business grew, however, the owner became busier and busier with involvement in other critical management functions: Banking relat
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
ions, negotiating insurance programs, strategic planning, estate planning, acquiring new locations, etc. So the most current catalog was neglected and pretty soon began to look outdated.
A key employee who had worked with the owner in
A key employee who had worked with the owner in
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
implementing previous catalogues came to him and offered to assume responsibility for the project. However, the owner continued to sincerely believe that only he could do this job and do it “right.” But nothing happened.
Realizing tha
Realizing tha
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 she was taking a risk, the subordinate took it upon herself to take a stab at laying out the catalog. Conscientiously working at home, she burned the midnight oil so the project didn’t interfere with her normal duties at work. Finall
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the project was finished and she presented the rough layout to her boss.
“Wow,” he exclaimed. “What a great job!”
The owner finally realized that while the catalog she had designed was not laid out as artfully as perhaps he could hav
“Wow,” he exclaimed. “What a great job!”
The owner finally realized that while the catalog she had designed was not laid out as artfully as perhaps he could hav
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
e done it himself, the project had gotten done.
What duties and tasks are you holding onto because you perform them better than anyone else? Are you assigning responsibilities to your people and holding them accountable for measurable
What duties and tasks are you holding onto because you perform them better than anyone else? Are you assigning responsibilities to your people and holding them accountable for measurable
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
results?
So ask yourself: Is the success of your business limited by your own personal physical and mental stamina? There’s just so much that any one person -- no matter how talented -- can do and do well.
#2 Management Mistake: Fai
So ask yourself: Is the success of your business limited by your own personal physical and mental stamina? There’s just so much that any one person -- no matter how talented -- can do and do well.
#2 Management Mistake: Fai
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
lure to hold your people accountable for measurable results.
Have you ever told a manager that the next time you walk into the area of the business he or she is responsible for that you want that area to be neat and organized? Most own
Have you ever told a manager that the next time you walk into the area of the business he or she is responsible for that you want that area to be neat and organized? Most own
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
ers and managers certainly have. Well, how about this question: Have you ever returned to inspect the manager's progress and been disappointed in what you observed?
The reason many times is because the owner’s or manager’s idea of C-L
The reason many times is because the owner’s or manager’s idea of C-L
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
E-A-N is substantially different from that of the subornate.
Try this: Prepare an inspection checklist. Describe clearly what your definition of clean is so that the person you’re holding accountable will know in no uncertain terms wh
Try this: Prepare an inspection checklist. Describe clearly what your definition of clean is so that the person you’re holding accountable will know in no uncertain terms wh
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
at is expected of him or her.
So often managers are guilty of saying to a subordinate manager: “I want you to reduce expenses out here.” But they never suggest how much or expressing the request in measurable terms.
I suggest to my c
So often managers are guilty of saying to a subordinate manager: “I want you to reduce expenses out here.” But they never suggest how much or expressing the request in measurable terms.
I suggest to my c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
lients that they hold their managers accountable for controlling operating expenses to a specified percentage of sales and pay the manager on his ability to meet this goal.
Management mistake #3: Failure to establish minimum conditions
Management mistake #3: Failure to establish minimum conditions
.
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
of employment.
In other words, make sure all employees understand in measurable terms what they have to do -- at a minimum -- to keep their job.
Examples:
How many new customers and how much sales volume must a salesperson attract to
In other words, make sure all employees understand in measurable terms what they have to do -- at a minimum -- to keep their job.
Examples:
How many new customers and how much sales volume must a salesperson attract to
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
the business in a given period of time?
What inventory turnover must the buyer achieve at a minimum?
What collection days must the credit manager achieve at a minimum?
How much net margin must the general manager achieve at a minimum
What inventory turnover must the buyer achieve at a minimum?
What collection days must the credit manager achieve at a minimum?
How much net margin must the general manager achieve at a minimum
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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