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E-Folder - Top Ten Things About Strategic Business Thinking
Strategic thinking is part science, part artform. To be up there with the best you need to use the left and right sides of your brain, a skill which takes practice as well as confidence.
Here are some skills that the very best strateg
Here are some skills that the very best strateg
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
ic thinkers have, and use, every day.
They Have a Vision
They are great at both thinking with a strategic purpose as well as creating a Visioning process. They have both tools in their kit and they use both to complement each other.
They Have a Vision
They are great at both thinking with a strategic purpose as well as creating a Visioning process. They have both tools in their kit and they use both to complement each other.
; 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
his form of supportive thinking and seeing the future, creates a way of thinking and evolving strategy that is focused and yet broad.
Make Time
In a busy businesses and organisations, be they small or large, making the time is vital.
Make Time
In a busy businesses and organisations, be they small or large, making the time is vital.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
At the top of their game key strategic thinkers take time out. Maybe a retreat (maximum points!); maybe a day in a hotel foyer; maybe an afternoon somewhere/anywhere, with a blank sheet and a thinking hat on. Whatever works for them -
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ut they do it.
Are Not Hasty
The clue is in the description, Strategic Thinking is not about today, tomorrow or next week. In close partnership with holding a clear vision for the business future, these two create the tomorrows of th
Are Not Hasty
The clue is in the description, Strategic Thinking is not about today, tomorrow or next week. In close partnership with holding a clear vision for the business future, these two create the tomorrows of th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
future. But not tomorrow! This is shaping, coaxing, tuning for a quality business performance in the years to come. Great exponents take time to fine tune, revise and engineer quality futures!
Absorb and Notice
They are truly aware.
Absorb and Notice
They are truly aware.
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
In any business, there are clues, often subtle, both internal and external, to help guide future direction and realize opportunities. Great Strategic Thinkers take all of this in, so that as they set aside time to think, they have a f
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
ll deck of information to guide them. Sometimes, it's an 'aha' moment on vacation, when they observe something that resonates; it might be on a morning walk out in the country; it might be what someone says as they serve them coffee. M
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
king links, however tenuous, is what makes this work so well.
Review Often
The best Strategic Thinkers check that their thinking has been validated. Is it going to work, against a world of regular, consistent and yet sometimes volati
Review Often
The best Strategic Thinkers check that their thinking has been validated. Is it going to work, against a world of regular, consistent and yet sometimes volati
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 change? This activity is a moving target, so to build a better understanding, snapshots; benchmarks and regular stocktaking are all very useful to confirm the quality of the thinking - and absorbed into the skillset for their and the
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
r organizations future.
Learn from Experience
Over time, these folk use their experiences, small and large, to think better on strategic issues. This makes their use of this time really efficient and particularly effective. There are
Learn from Experience
Over time, these folk use their experiences, small and large, to think better on strategic issues. This makes their use of this time really efficient and particularly effective. There are
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
learned short-cuts to the perhaps more formalized strategic planning process and experience is a huge, valuable added bonus.
Use a Team
By utilising more than just their own brain (though this is vital for some of the process!), tho
Use a Team
By utilising more than just their own brain (though this is vital for some of the process!), tho
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
e great at Strategic Thinking bounce ideas off others in the workplace and encourage their input above and beyond their delivery of the day job. The old adage that 1+1=3 in the input of thinking is hugely valid. And 5 people make a muc
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
more significant contribution than 2 - and so on!
Realism Rules (A Little!)
Although they create ideas very openly, key strategic thinkers have a sense of realism and honesty about what is achievable in the longer term. This is not
Realism Rules (A Little!)
Although they create ideas very openly, key strategic thinkers have a sense of realism and honesty about what is achievable in the longer term. This is not
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
o hold them back; more it is to deliver success. They underpromise and overdeliver, whilst also ensuring that the day to day business of the organization - the 'now' - is served adequately too. That's what gets the business paid today,
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
whilst building the future of tomorrow.
Have Clear Milestones
By creating checks in their thinking, to review progress, they have the opportunity to tweak. They have an innate ability to spot the twists and turns necessary. A 5,000 m
Have Clear Milestones
By creating checks in their thinking, to review progress, they have the opportunity to tweak. They have an innate ability to spot the twists and turns necessary. A 5,000 m
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
ile journey by a jet plane reaches the destination only by regular and consistent course checks and adjustments.
Are Non-Judgemental
Because the route to a successful future is not bounded by judging their, or others, thinking as the
Are Non-Judgemental
Because the route to a successful future is not bounded by judging their, or others, thinking as the
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
get creative - that is for elsewhere - better ideas flow. Open minds are encouraged and the detail tested later. Open minded thinking needs real checks and balances - but AFTER the openness has stimulated the breadth of imaginative id
.
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
as only such freedom can provide.
In a cut-throat today world of this year's bonus and dividend, big business has a tendency to look short-term and manage that efficiently and well.
In the most successful organizations over the years
In a cut-throat today world of this year's bonus and dividend, big business has a tendency to look short-term and manage that efficiently and well.
In the most successful organizations over the years
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
and decades, where the test of time has shown them the excellent businesses they are, the Sony's, Coca Colas, Nokias and Toyotas of this world think ahead and encourage great Strategic Thinking at least somewhere in their busness plans
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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