Digg It - Business

That’s what they say…but business is being done a new way. Massive technological connectivity and access to tidal waves of information is causing a shift in society, workers attitudes and how business is done.

Rapid changes in technology are causing disruption in the way corporations do business. Communication is now digital. Pro

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

ducts are now digital. Marketing and delivery of product and services must be done in a different way.

Added to that, the evolution of global business environments has significantly increased competition and stress on the traditional corporation.

One other important shift is that now the “knowledge worker” (skilled and experien

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

Examples of combination products may in

ced) is now becoming the most valuable asset of the corporation versus capital equipment and they are leaving corporations by the thousands.

So what is a corporation to do? Find and retain the best people.

I believe a new, better corporate structure is evolving and it will take women of ability paired with men of ability to make

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

it the best and most profitable business. However, few women make it to the top management positions.

This is where many women’s development programs have failed. They simply addressed the soft skills of mindset and confidence for women.

The truth is that successful business is led by people of experience with specific busine

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

ss skills AND the right mindset.

This is why we must develop women managers further through learning experiences, coaching and training that insure the results a corporation needs to obtain highly skilled women leaders.

Here are some reasons why we need more women as leaders in business:

Women, on average, are terrific

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

Combination pro

communicators and tend to be better at it than men. It’s the information age and it’s highly competitive. This means companies will need more skilled communicators involved in all aspects of business where good, clear communication is critical to generate revenue, control expense, manage top talent and build a loyal customer

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

base.

Global business will require expanding business networks. Women are natural networkers.

Diverse viewpoints can result in better, more creative solutions to business issues. Both women and men are needed to address business issues effectively.

Keeping a talented knowledge worker will require relationship st

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

ategies. Women instinctively care about building relationships which is why they tend to gravitate toward jobs where building relationships is a major component such as Marketing or HR.

Increased competition will require the resources of creative thinkers to develop new products and services that meet the needs and desire

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

s of the marketplace. The talent pool of creative leaders is doubled when more women leaders are available.

Rapid change in technologies requires more flexibility. Women have extensive multi-tasking abilities as evidenced by women who manage business and families at the same time.

Half of the workers available today 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

e women. Women in leadership roles can act as mentors to develop other potential women leaders just as executive men have done for years. With all this said, women are still not reaching top levels in management. There are several reasons for this.

Part of the reason is societal in that women were often not included in

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

business conversations as they were growing up so they did not have the opportunity to learn. Part is that the corporate structure was invented by men for the way men think and work. Part is that women are still the primary managers of the family and cannot always dedicate all their time to the company.

In a recent survey co

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

Following aspects would a

nducted by Womencorp, there were some striking differences between what men believed and what women believed about the “why” women are not succeeding as corporate business leaders.

Of the female respondents, 68.3% believe that lack of flexible options for work is holding women back. 51.7% believe that lack of confidence is also

dd to the challenges in developing combination products:

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

a contributing factor. 45% believe that women aren’t given a chance because men stick together.

This was what one woman had to say about that subject: “This is a very complex issue. What I have found, after seven years at {a major corporation}, is that men seem to internally denigrate qualified technical women (perhaps beca

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

use of jealousy). They do form cliques and do not wish to 'include' women in their cliques. They are group-oriented, no doubt. They will hang with other guys, just because they are guys. There are individual males who communicate well with women, but they are few. Despite years of emphasis on including women, promoting women, a

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

d hiring women, I feel that the disparity of women in the business world is growing, not shrinking. Still, both men and women do not seem to 'get it'. I wish I had something more positive and constructive to give, but I do not.”

On the other hand, 53.7% of men believe that lack of flexible options is holding women back. 3

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

2.3% said they feel the glass ceiling is still firmly in place and just 17.9% believe that women lack confidence.

Perhaps men don’t realize women lack confidence, whereas women know how they feel. This mindset can be altered with a proper development program for both women managers and men who manage women.

This comment from o

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

Professional from academic institutions, pharmaceutical industries, health care indust

e male participant is noteworthy: “Capable women are often unfairly fast tracked early in their career to positions that may demand experience to be successful over a prolonged period. Found wanting, they are then niched in dead-end executive roles. Rather like moving a ball player to the majors too quickly because of their n

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

ative talent. Their "rookie" mistakes occur with too much exposure and can prove fatal.”

But what difference does it make as to why few women have achieved top leadership roles in business? The reason to know why is because we can then use this information to develop solutions.

The bottom line is that more women need to be

.

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

in leadership roles for many reasons including the 7 listed above. The challenge is to find new ways to enable them to succeed at top levels.

For both men and women respondents, they seem to feel that coaching, mentoring and multi-day workshops are quite important to help develop women leaders to their fullest potential.

The

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

Companies that provide selfless information through particip

Womencorp Team agrees and is working to make a difference for women in business. Would you like to help? Just take a moment to fill in this quick 30 second survey:

For Women
For Men

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

I look back on my career and I see with perfect hindsight how shortsighted I was in handling certain customer relationships. And because of my failings and miscues I’m in a good position to notice when others are being shortsighted or foolish with me. Generally, when they're enforcing ever rule and counting every nickel, they're in financial trouble and it's a good time for customers to seek alternatives.

Linen is made for people who prefer comfort over cost. Linen fibre is derived from the stem of the flax plant and spun into a lustrous and strong yarn which, like cotton, is both extremely washable and comfortable to wear in hot weather, as it draws moisture quickly away from the body. While woven linen wrinkles easily, knitted linen has wonderful elasticity. It is best for high humidity areas, since it absorbs moisture better than cotton. Plus, it has anti-bacterial properties that protect the skin. In fact earlier linen thread was used for stitching up wounds.

Tags

Links

Digg It - Top 7 Reasons Why Women Business Leaders Are Needed

Related Articles: