Advice Pool - Business

Employees are an important stakeholder of any organization whether it is large or small. However, managers are often too busy with running the day to day operations of the company that little,

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

if any, time is spent on a motivation strategy. This is unfortunate because a high performance work team is actually an easy goal to achieve.

Why should you read on? So you can increase the b

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

Examples of combination products may in

ottom line. If every employee made one minor change, as a result of increased motivation, then the result on the bottom line would be astronomical. Having a proper motivational strategy for e

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

mployees will give any manager an exponential return on investment. And better yet, to achieve this, proper motivational tools are not expensive.

The most common mistake that managers make is

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

o believe that all forms of motivation revolves around money. Whereas, the truth is that increase in pay and/or bonuses do not dramatically increase motivation. What actually happens is that t

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

Combination pro

he employee is being offered a bonus for a job they should be doing anyway rather than actually rewarding them to do more and/or better. As such, the employee might interpret this to mean that

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

they are working for a bonus versus doing the best job that they can because they enjoy it. However, do not misinterpret this and think that little or no pay is required. The employee wages mus

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

be fair market in comparison to others in the industry otherwise motivation will actually decrease. An example would be a top level baseball player earning 6 million a year (which is about ave

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

rage). Increasing this player’s pay to 12 million a year would probably have little effect on their performance. Decreasing the salary to below the average earning would decrease performance be

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

cause the player would not feel appreciated.

So what does work? It’s Simple. Recognition.

It is much better to give recognition to employees both privately and publicly. A leader should alwa

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

s praise his or her staff and be an integral part of their work life. Most employees only hear from management when something is wrong and this negative reinforcement is not conducive for high

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

Following aspects would a

level work teams.

Studies have shown that little items such as sending a birthday card can increase work performance levels for months on end. E-Cards have the same effect and are easy to use

dd to the challenges in developing combination products:

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

plus have the added features such as date reminders and follow ups.

Recognition works because it gives positive reinforcement to the employees and when an individual feels appreciated they wil

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

l work harder for more recognition. This simplicity escapes most employers/managers. People just want to be heard, recognized and appreciated.

Will using a simple greeting card really work? Y

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

s. It will if done correctly.

If you want this to work, then take the time to write a personal greeting. Sending a generic card to all staff members would most likely decrease morale as employ

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

ees may find it offensive as it re-enforces “the herd” mentality. The message should be genuine and meaningful. Also, the message should be as close to the recognizable act as possible. This m

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

Professional from academic institutions, pharmaceutical industries, health care indust

eans that if someone on your team did a great job on a project; send a thank you card to them ASAP. Sending a card out 4 months after the project has been long forgotten would have little effec

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

.

When is the best time to give out E-Cards?

E-Cards should be given out on major holidays and for birthdays. Also, cards can be sent whenever an achievement is made large or small. The text

.

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 the card does not have to be complicated and overwritten. A few well chosen sentences will work extremely well.

Take Action Now

If you are convinced that a motivational strategy is for you

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

Companies that provide selfless information through particip

then commit yourself to sending out a personalized card every 3 months for different holidays and events. Idiooz.com provides an excellent economical service that does most of the work for you

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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