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Digg It - Five Defining Characteristics of Great CEOs
1. Personal insight.
Great CEOs are great leaders. They know themselves and what they stand for. They have been called on all their lives as problem solvers because others know them to be fair and impartial
Great CEOs are great leaders. They know themselves and what they stand for. They have been called on all their lives as problem solvers because others know them to be fair and impartial
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
. People respect their opinions and look to them for guidance. Great CEOs are mature as people. They can suffer disappointment more gracefully than others and give others credit for their achievements. They do
; 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
n’t come in the office door yelling for something they need. They aren’t as concerned about titles or power structures as they are about the welfare of those who work at the company. They are trustworthy becaus
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e they’ve always been honest with people and have earned that trust. They care about families, and they know that people are more important than dollars and express it in their actions every day.
Finally, grea
Finally, grea
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
CEOs seek out feedback. They want to know how others see them so that they can understand themselves better and continue to grow as people. They also want feedback about the company from an employee perspectiv
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e, and they use surveys as a starting point for creating a dialogue to make things better.
2. Resourcefulness.
Great CEOs seem to have boundless energy. They come to work with the greatest enthusiasm. Even
2. Resourcefulness.
Great CEOs seem to have boundless energy. They come to work with the greatest enthusiasm. Even
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
when they don’t feel like it, they find ways to reenergize themselves and come in ready to go. They take good care of themselves physically and emotionally so that they can be there for the employees and the n
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
eds of the company. They give much more than they take every day. They don’t give up. If the wall is too high, they back down and find another way around. They don’t blame, but they do look for solutions to pr
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
oblems so that those problems are less likely to happen again.
3. Courage.
The CEO has one of the world’s toughest jobs. No matter how tough it was to start the company, it’s even harder to keep it going a
3. Courage.
The CEO has one of the world’s toughest jobs. No matter how tough it was to start the company, it’s even harder to keep it going a
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
nd growing. A CEO must decide what he or she stands for and do what is right, all the time. It takes courage to fire the salesperson responsible for the company’s biggest, most lucrative account when that same
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
alesperson drives a company car drunk and causes an accident. There will be many times when CEOs will want to smooth over something that requires decisive action because of the potential consequences or because
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
they just can’t take on one more challenge at the moment. However, CEOs who exercise poor moral judgment will lose their personal integrity with all of their employees watching.
4. Willingness to look at risk
4. Willingness to look at risk
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
.
A great CEO isn’t afraid to look at the downside and answer the hard questions he or she hopes will never become a reality. The CEO needs a backup plan—one that is designed by looking at the company’s wor
A great CEO isn’t afraid to look at the downside and answer the hard questions he or she hopes will never become a reality. The CEO needs a backup plan—one that is designed by looking at the company’s wor
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
st-case scenarios. This plan addresses questions such as: What if your industry experiences a slump? What if new governmental regulations affect your business? What if you lose the client that accounts for 50 p
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
rcent of your sales? Preparing yourself and your company for these eventualities may be the difference between a tough year or two and bankruptcy. If you are in business for 20 years, some of your worst-case sc
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
enarios will probably happen. The key is to be ready and able to take immediate action to reduce the loss.
5. Foresight.
It seems some CEOs have an uncanny ability to predict the future. They may have unus
5. Foresight.
It seems some CEOs have an uncanny ability to predict the future. They may have unus
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
ual insights into their particular markets, and luck may play a part as well. In addition, they are prepared to create their own luck by cultivating an ability to see opportunities for their company and to make
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
the deals that convert those opportunities into realities. Some things that may seem like amazing foresight are actually the result of the hard work and discipline it takes to constantly look forward to build a
.
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
successful company. Great CEOs must also constantly develop new products to build and retain a customer base. Foresight is also the ability to hire and retain the right people, looking ahead toward the growth
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
of the company.
Finally, over time, each company must develop a steady source of business during both good economic times and bad, because there are sure to be bad economic times during the life of a business
Finally, over time, each company must develop a steady source of business during both good economic times and bad, because there are sure to be bad economic times during the life of a business
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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