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Digg It - Calculating the Human Costs of Downsizing
Downsizing is never an easy decision. There is an inherent conflict between protecting the company’s interests and that of employees.
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
This balancing act can be a real dilemma for an organization as it tries to insure its long-term survival, and its desire to protect
; 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
the welfare of its employees.
Handled improperly, a company downsizing can damage the public standing of both the organization and i
Handled improperly, a company downsizing can damage the public standing of both the organization and i
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
s management. People have long memories, and after a difficult time an organization needs the support of the remaining employees in o
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
der to rebuild.
Consider the costs once remaining employees begin to question their company’s published ethical standards and values
Consider the costs once remaining employees begin to question their company’s published ethical standards and values
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
. At best, they will do their job responsibly, not putting much effort to the re-growth of the organization as they just go through t
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
e motions of their job. At worst, absenteeism increases, morale decreases, and resentment steadily begins to grow, all of which inevi
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
ably disrupts the functions of the organization. The cost is immeasurable.
Minimizing human costs
To lessen the negative impact of
Minimizing human costs
To lessen the negative impact of
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
downsizing, the remaining employees must be assured that the decision to reduce the workforce was made only as a last resort, after
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
lengthy discussions and a concerted effort to reduce costs in other areas.
Employees will closely monitor the way downsized employee
Employees will closely monitor the way downsized employee
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
are treated. They want to be assured that their former colleagues and friends that were let go are being cared for. To avoid the gui
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
t that most remaining employees feel, management should stress that departing employees are being provided with the best severance pa
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
kage that current circumstances allow for.
After a layoff, the remaining employees will experience an array of emotions including co
After a layoff, the remaining employees will experience an array of emotions including co
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
nfusion, anger and fear. If these emotions are not addressed, valued employees may feel their jobs are at risk and begin to look for
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
ork elsewhere. The danger is particularly grave when this attitude begins to affect company loyalists, the employees who are the glue
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
of the organization. When they begin to worry others will also.
During challenging times, rumors spread throughout an organization l
During challenging times, rumors spread throughout an organization l
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
ke cancer. Because of this, management should openly inform remaining employees about the plan to revitalize the organization, and ad
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
dress whispering campaigns head on. Allowing rumors to linger without clarification feeds into the belief that the organization’s fut
.
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
re is uncertain.
Employees will look towards the leadership for reassurance and encouragement so it is important to be visible, and
Employees will look towards the leadership for reassurance and encouragement so it is important to be visible, and
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
ddress employee concerns. With open, honest communication the possibility exists to develop a rich relationship with those who remain
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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