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Advice Pool - Job! Money! Career!
Feel somehow your life is stuck in MS-OFFICE – The reality of life for MBAs is Excel or PowerPoint , I heard Google is catching up at campus. Having gone through this myself, (I am still not out of it!), having had the nightmare of freshly minted MBAs reporting to me every year ( 90% of MBA
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
s in their first job believe that their first Boss in Incompetent) and struggling to manage their transition to reality, guess I am now in a position to give some Gyan on assessing your job and career moves. I crystallized these thoughts while discussing these situations with a friend of mine,
; 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
her issues with the first job where similar to what most of you would be facing. Job!! Money !! or Career !!
1. Money is not Important: - I do not actually mean it, not that I am asking you to struggle through an insipid low paying job. I did that for almost a year. But the rules of taxation
1. Money is not Important: - I do not actually mean it, not that I am asking you to struggle through an insipid low paying job. I did that for almost a year. But the rules of taxation
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
are such that anybody earning between Rs.5.00 Lakhs to Rs. 10.00 Lakhs per annum ends up more or less with a similar quality of life. So if you are just switching jobs for a few thousand more, think twice, it may not be worth it. Do not concentrate on money right now. It is not too difficult to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
make money. But nobody is going to pay you a higher salary because you ask for it, organizational decision making processes are far too complex. It is not how hard you work or how you please the boss that matters! I tried this for a couple of years to no effect. The crux of the matter is what
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
“Value” you are delivering to the organization, if the Organization as a whole (at least the people who matter) sees you deliver value they have no option but to pay for it.
2. Evaluate Payoffs: - Any Company or everybody pays you to get a job done. The choice you have to make is whether you r
2. Evaluate Payoffs: - Any Company or everybody pays you to get a job done. The choice you have to make is whether you r
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
eally want to do “that” Job. Here what you need to check is- are you emotionally enjoying the job. I have seen guys struggling through high-pressure and stressful sales jobs, because of incentives, commissions and Quarterly conference at plush location when they would be much happier doing a le
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
ss glamorous job that they would enjoy. This is also seen in situations when people are stuck in so called “Corporate Office” positions assisting the Senior Management with their Excel or PowerPoint, although there is a glamour attached to being in the Corporate Office etc, check whether you ar
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e actually adding to your skills. You would be better off on the Shop Floor or Field Sales at a younger age.
3. Is the job utilizing your time or adding to your skill sets: - Skill sets are both technical and behavioral. For example if your talking of a Demand Planning job, a Demand Planner wh
3. Is the job utilizing your time or adding to your skill sets: - Skill sets are both technical and behavioral. For example if your talking of a Demand Planning job, a Demand Planner wh
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
o has worked on SCM packages like i2 or Oracle APO/SAP APS will at the end of the day have skills which are highly valued in the job market, but not demand planning done in "Excel". Behavioral Skill sets are complex to explain but you know the usual set like Team Working, Leadership etc etc. Th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
is happens when the job offers you opportunity to meet a lot of professionals. Sometimes you choose a job if you find it adds to Behavioral Skill - after my engineering I opted to work as a Sales Person living on full commission for 6 months before my MBA, because that was a Skill I wanted and
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
maybe because at the age 21 you can afford to take the risk.
4. What is Work Environment /Ambiance offering you: This is particularly important for youngsters. The world around us is changing, there are a lot of Indian companies, which are changing, valuing performance instead of loyalty, havi
4. What is Work Environment /Ambiance offering you: This is particularly important for youngsters. The world around us is changing, there are a lot of Indian companies, which are changing, valuing performance instead of loyalty, havi
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
ng global ambitions etc. Yet there are a lot of companies who are still stuck in the protectionist economy morass. Another method of evaluation is looking at lifecycle of the Company and the Products it sells.
If a company operates in a Mature or a declining market, it changes the whole worldv
If a company operates in a Mature or a declining market, it changes the whole worldv
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
iew of the organization. The operations of these organizations would be tuned to maximizing returns in a mature or declining market through Cost Reductions- this always has cascading effect, Pay Packets, Promotions, Training Budgets or Publicity Budgets. At individual performance level, getting
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
a 1% change in market share in a mature market is an extremely difficult job, so you may be actually struggling and putting in your best with minimal results, which can be very demoralizing. Also there are certain businesses or kinds of industries, which attract a particular kind of people.
A
A
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
lthough at the first instance you may not realize it, in the long term you realize a cultural dissonance. In such scenarios it would you to shift immediately, if you culturally do not fit in the organization, there are three things that may happen:
a) You will never grow – because you would
a) You will never grow – because you would
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 a cultural level be an outsider
b) You change yourself to make yourself culturally acceptable to the organization and repent that decision
c) You would have morphed so much trying fit yourself to the culture that you become unfit for any other organization
That in short is my line of th
b) You change yourself to make yourself culturally acceptable to the organization and repent that decision
c) You would have morphed so much trying fit yourself to the culture that you become unfit for any other organization
That in short is my line of th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
inking. It is quiet contrary to conventional thinking of running after Money and Position. Concentrate only on adding to your Skills Sets and Experiences. The Economy is currently booming there are new opportunities being thrown up both for professionals and entrepreneurs. So if you have the r
.
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
ight mix of skills and experiences making money is not difficult. In fact there are a number of companies who have kept important positions vacant.
In the Economic Time dated 19th March 2005, it was reported that the position of Vice-President(Sales & Marketing) of India’s largest two wheeler
In the Economic Time dated 19th March 2005, it was reported that the position of Vice-President(Sales & Marketing) of India’s largest two wheeler
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
manufacturer has been kept vacant for more than 6 months. Amazing isn’t it considering that so many marketing MBAs are minted every year.
Most importantly you should remember that all this is not very important. Career is only a means to maintain a Lifestyle and living it up is more important.
Most importantly you should remember that all this is not very important. Career is only a means to maintain a Lifestyle and living it up is more important.
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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