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E-Folder - Business Triage
What do Tylenol, New Coke, Jack-in-the-Box, Bag Leaf Spinach, Katrina and the World Trade Center have in common? They were all disasters. More specifically, they were all business disasters, and the outcomes of each of these disasters was completely dependent on managing needs and resources.
But what does triage have to do w
But what does triage have to do w
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
ith business?
If a business is doing well, absolutely nothing.
However, in a global economy where labor is cheaper for “the big boys” overseas and markets are flooded with less expensive goods, where disgruntled employees or other malcontents take out their frustration on a business directly or its customers there are few bus
If a business is doing well, absolutely nothing.
However, in a global economy where labor is cheaper for “the big boys” overseas and markets are flooded with less expensive goods, where disgruntled employees or other malcontents take out their frustration on a business directly or its customers there are few bus
; 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
nesses that do not regularly suffer a disaster. The problem is, they don’t know how to recognize one when it comes.
The first lesson from the disaster field office are the definitions: a disaster is when your needs exceed your resources. It’s a simple mathematic equation:
Disaster = Needs > Resources
A catastrophe is when
The first lesson from the disaster field office are the definitions: a disaster is when your needs exceed your resources. It’s a simple mathematic equation:
Disaster = Needs > Resources
A catastrophe is when
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
our needs exceed all ability to respond. Again, it’s a simple mathematical equation:
Catastrophe = Needs > Ability to Respond.
Resiliency is defined in many ways. One definition is even of a book on the subject, Mastery Against Adversity (Disaster Life Support Publishing, 2007). But the simplest definition is that resilienc
Catastrophe = Needs > Ability to Respond.
Resiliency is defined in many ways. One definition is even of a book on the subject, Mastery Against Adversity (Disaster Life Support Publishing, 2007). But the simplest definition is that resilienc
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
is the opposite of disaster. It is when your resources exceed your needs, or mathematically:
Resilience = Resources > Needs.
The second lesson from the disaster field office is every business must have resilience to survive its disaster.
The third lesson from the disaster field office is that there are acceptable losses.
The second lesson from the disaster field office is every business must have resilience to survive its disaster.
The third lesson from the disaster field office is that there are acceptable losses.
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
Several years ago when New York City suffered its most recent blackout Arnie, who owned a small convenience store and ice creamery faced a business triage decision. With the power out he had ten flavors of ice cream in the cabinet that would soon melt. At 5 gallons per flavor there was slightly less than 50 gallons of ice cre
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
m up front. This was a small loss, but it would be compounded by the fact that he had over 100 gallons of ice cream in the back.
Arnie knew that he had a disaster on his hands. His needs (refrigerator) exceeded his resources (electricity). Arnie needed to make a simple triage decision. He had to decide where he could focus
Arnie knew that he had a disaster on his hands. His needs (refrigerator) exceeded his resources (electricity). Arnie needed to make a simple triage decision. He had to decide where he could focus
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
his efforts and his remaining resources so that his business would in fact reopen when the power came back on. He also needed to plan for as short a recover as possible. It takes a lot of effort to get rid of over 100 gallons of ice cream and a lot of dumpster space. The clean-up would be horrendous and if the disaster linge
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ed too long his store would be filled with stench of sour milk and rotting ice cream.
Arnie ran a neighborhood store and his customers had already been in to purchase what he had on hand. With an old cigar box he had given up his computerized register and was going business “the old fashioned way”. But what to do with the ic
Arnie ran a neighborhood store and his customers had already been in to purchase what he had on hand. With an old cigar box he had given up his computerized register and was going business “the old fashioned way”. But what to do with the ic
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 cream?
Arnie doesn’t know if he was the first store owner to think of it, but in the sweltering heat Arnie struck upon an idea, give it away. After all, what would he be losing? The product would be ruined before refrigeration could be returned. So he simply gave away the ice cream. A small handmade sign in the window soo
Arnie doesn’t know if he was the first store owner to think of it, but in the sweltering heat Arnie struck upon an idea, give it away. After all, what would he be losing? The product would be ruined before refrigeration could be returned. So he simply gave away the ice cream. A small handmade sign in the window soo
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
drew people in off the street. “Free Ice Cream.
In no time he had a line. He was giving away the ice cream, but what to hold it in? Ice cream cones! The cones were actually cheaper than Styrofoam cups, and Styrofoam have an unlimited shelf life. Would the ice cream cones go bad during the blackout? No, but you can’t giv
In no time he had a line. He was giving away the ice cream, but what to hold it in? Ice cream cones! The cones were actually cheaper than Styrofoam cups, and Styrofoam have an unlimited shelf life. Would the ice cream cones go bad during the blackout? No, but you can’t giv
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
people ice cream in their hand, and the small loss in the cost of ice cream cones was less than the larger loss than the cost of Styrofoam cups.
To Arnie’s amazement, many people tried to pay him for the ice cream. Wanting to get rid of it as quickly as possible, before it all went bad and he had to carry it out back where i
To Arnie’s amazement, many people tried to pay him for the ice cream. Wanting to get rid of it as quickly as possible, before it all went bad and he had to carry it out back where i
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
would create a horrendous stench, he simply refused. To his greater amazement people began to buy other items in the store, items that in all likelihood he would not have been able to sell at that moment in time simply because before the free ice cream sign he didn’t have many customers. Before he had given away all the ice
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
cream, Arnie found that his store shelves were bare and his cigar box overflowing. His acceptable loss, the ice cream, had gained him an unexpected profit.
But that’s not the end of Arnie’s story. The power came back on and Arnie was re supplied with both ice cream and merchandise. He also saw a tremendous increase in busin
But that’s not the end of Arnie’s story. The power came back on and Arnie was re supplied with both ice cream and merchandise. He also saw a tremendous increase in busin
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
ss. People didn’t just come because he had given away ice cream. They came because they felt that Arnie cared about them. He had taken a tough decision and turned it into a benefit for those around him.
Triage has come to to be sorely misunderstood. Triage is not simply sorting the most important project or business goal,
Triage has come to to be sorely misunderstood. Triage is not simply sorting the most important project or business goal,
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
r even critically ill patient to the front of the line. Triage is determining what resources are available and how those resources can serve the largest number of goals or the largest number of people at any given moment in time.Triage is a continuous process, and it is a repeating process. In business that means constantly r
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
assessing the resources available at hand both as they are expended and as they are re supplied. Business triage involves reassessing the needs and goals of the company on a minute by minute, hour by hour basis.
Arnie is just one example of businesses surviving and flourishing because of efficient business triage. Johnson &
Arnie is just one example of businesses surviving and flourishing because of efficient business triage. Johnson &
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Johnson (cyanide in Tylenol) and Pepsi-Cola (needles in bottles) are two “big business” examples of the same principle.
In the business world triage missteps, failure to define an acceptable loss has resulted in product failures and brand damage (Coca-Cola with New Coke and Jack-in-the-Box with tainted hamburgers). The news e
In the business world triage missteps, failure to define an acceptable loss has resulted in product failures and brand damage (Coca-Cola with New Coke and Jack-in-the-Box with tainted hamburgers). The news e
.
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
amples disaster was taken to catastrophe because needs were not prioritized and goals not adjusted to the realities of available resources.
The lesson of business triage is that when a business faces a disaster it must accept that not all of its goals can be met until more resources are brought to bear. If those resources are
The lesson of business triage is that when a business faces a disaster it must accept that not all of its goals can be met until more resources are brought to bear. If those resources are
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
not available then acceptable losses must be identified and sustained. This must be done dispassionately and with the same logical approach as business uses when choosing a vendor or a new project in which to invest.
(Excerpted from my lecture series and book Avoiding Business Disasters: Lessons from the Disaster Field Office
(Excerpted from my lecture series and book Avoiding Business Disasters: Lessons from the Disaster Field Office
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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