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E-Folder - Famous Business Strategies
Either simply a looker-on or a player in the world of business, you see millions piling into the accounts of world's most famous businessmen and naturally the question pops "How?", wondering what is the alchemy they've discovered? Yet, there is no magic here - it's mostly pure strategy. And what it takes to spot it and make it real.
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
ig>Strategy
Identifying the best strategy for your business is the key to all success. It should give you the lift that makes a difference. The art for your strategy success is planning.
* settling a vision for your business
* defining a mission
* setting out objectives
* establishing values, goals an
Identifying the best strategy for your business is the key to all success. It should give you the lift that makes a difference. The art for your strategy success is planning.
* settling a vision for your business
* defining a mission
* setting out objectives
* establishing values, goals an
; 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
d programs.
Vision
It is all there, it is all important, but first there is the vision. So, is vision a spark, is it a moment? How much is inspiration and how much hard work? Is it 99% perspiration and only 1% inspiration? Can we all be geniuses?
According to Edison's theory I would say yes, if we are commi
Vision
It is all there, it is all important, but first there is the vision. So, is vision a spark, is it a moment? How much is inspiration and how much hard work? Is it 99% perspiration and only 1% inspiration? Can we all be geniuses?
According to Edison's theory I would say yes, if we are commi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tted to hard working, as it is primarily the hard work that makes a genius. Inspiration comes on the way, when involved in as much action as you can handle. Contrary to the conceptual meaning, inspiration seems to be driven by propitious conditions - in this case, by work.
Hard work
So, what really happens be
Hard work
So, what really happens be
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
hind the fairy-tale success stories is usually not what some would expect - a brilliant, extraordinary, never heard of discovery that changed the world, but, disappointingly enough, plain hard work. What these people have is what I would call "industry intelligence". How is it acquired? Working of course. That is, sharply aware of their in
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
dustry environment, learning all the rules and deeply involved in their own businesses, success people have at some point of activity a vision for their business that proves to be a winner - the revelation naturally produced as a result of their work commitment.
Let's take the example of three American legends: Sam Walton, Warren Buffet a
Let's take the example of three American legends: Sam Walton, Warren Buffet a
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
nd Bill Gates. What do they have in common? The winning vision, the winning strategy.
Sam Walton
In the case of Sam Walton, no new, innovative business models were launched. He followed the existing low-price retailing pattern but the competitive successful strategic approach was that instead of focusing on large cities
Sam Walton
In the case of Sam Walton, no new, innovative business models were launched. He followed the existing low-price retailing pattern but the competitive successful strategic approach was that instead of focusing on large cities
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
he took his business to small towns becoming the low-price leader in rural towns.
Warren Buffet
Warren Buffett's success resides in his different approach to value investing. While usually investors look for stocks they believe undervalued by the market, Buffett does not take into consideration the stock market aspects,
Warren Buffet
Warren Buffett's success resides in his different approach to value investing. While usually investors look for stocks they believe undervalued by the market, Buffett does not take into consideration the stock market aspects,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
such as for instance the supply and demand ratio. He analyzes the stocks on the basis of their potential as companies. He is interested in long-term results, such as ownership in companies with capacity of generating money, namely, companies with a strong name, great historical results, strong management and industry expertise.
B
B
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
ill Gates
Neither is the case of Bill Gates to have made extraordinary innovations. Rather than innovation, he had the ability to put together other people's ideas, thus producing big hits and making a profit. He did that first when adjusting BASIC programming language for the Altair 8800 (first PC) - neither of which was his or
Neither is the case of Bill Gates to have made extraordinary innovations. Rather than innovation, he had the ability to put together other people's ideas, thus producing big hits and making a profit. He did that first when adjusting BASIC programming language for the Altair 8800 (first PC) - neither of which was his or
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
iginal creation. Then, the same happened with DOS, which Microsoft bought (the original version was QDOS) and adjusted.
Business strategies implementation
Then, action comes. As the saying goes, planning without action is futile, action without planning is fatal. It takes guts to act boldly and take whatever
Business strategies implementation
Then, action comes. As the saying goes, planning without action is futile, action without planning is fatal. It takes guts to act boldly and take whatever
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
risks are necessary to put your vision into practice. It takes a great deal of tenacity to surpass obstacles and get over unfortunate happenings on the way. So, how did they implement their planned strategies? What was the outcome, what principles resulted for them to base their businesses on?
Warren Buffet
For the impl
Warren Buffet
For the impl
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
ementation of his strategy, Buffett has drawn his company choice principles, involving a great deal of analysis of business, management, financial aspects and a great deal of patience, waiting for the right price once the possible investment has been identified.
On businesses
* simple and understandable
* consistent operating
On businesses
* simple and understandable
* consistent operating
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
history
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, not
* favorable long-term prospects
On management
* rationality in treatment of retained earnings and investment of company profits
* disclosure of all aspects of company performances
* capacity of thinking independently of other managers' way of thinking.
On financials
* look for return on equity, 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
earnings per share
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible s
* analysis of free cash flow growth
* unique niche companies with high profit margins
* look for companies with at least one dollar of market value for every dollar retained
On stock valuation
* reasonable price for the company
* stock valuation analysis followed by analysis of a possible s
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
ignificant discount, case in which it will be purchased.
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, c
Success depends on the investor's dedication to learn and follow the principles.
Sam Walton
He gives his ten rules for success in the book "Made in America, My Story":
1. commitment to business
2. profit sharing with partners
3. partners' motivation, c
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
ompetition encouragement
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
4. total communication with partners, trigerring their commitment
5. giving appreciation to what your partners do for the business
6. keeping spirits up in celebrating success but also in treating failures with a touch of humor
7. listening to everyone in the company, encouraging their talking
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
r>
8. a sustained exceptional relationship with the customer - exceeding his expectations, showing appreciation, apologizing for mistakes
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microso
9. finding a competitive advantage in controlling expenses
10. originality, doing things differently there is a good chance to find unexplored niches.
Bill Gates
Microso
.
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
ft's corporate mission "A computer on every desk and in every home" shortly became a reality. Offering an easily accessible operating system for computers, perceiving the importance of customizing their product to the ordinary client and not only to computer engineers and thus addressing masses, Bill Gates succeeded in putting together
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 promoting towards a tremendous popularity (and profit accordingly) the world's dominant operating system.
What these people have in common is nevertheless an extraordinary ingenuity: they innovated their industry domain, building their own strategy tailored for their own business particularities and went further to its implementation
What these people have in common is nevertheless an extraordinary ingenuity: they innovated their industry domain, building their own strategy tailored for their own business particularities and went further to its implementation
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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