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E-Folder - Relevance of Medical Metaphor in Corporate Turnaround
Medical metaphors are applicable in corporate as people can comprehend their medical and health conditions much better than corporate matters. Metaphor is a comp 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 arative figure of speech in which a term is transferred from the object
it ordinarily designates to an object it may designate only by implicit comparison or
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in nalogy. It is a comparison of something familiar to something unfamiliar and used in
this book to explain a common “corporate wellness” principle. It is an effe lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. tive way for
people to create meaning by using one element of experience to understand another. Or
to use an analogy, metaphor is like a bridge, it spans the here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe gap between what the turnaround
manager wants the sick company to know and what the sick company already knows. Metaphor gives us the opportunity to stretch ou d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro imagination, create powerful insights
and deepen our understanding, thereby allowing us to see and act in new ways. Such
medical metaphors couched into princ 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 ples serve to enable the executives to draw
parallels to their corporate issues and facilitate their diagnosis and remedies. There are many similarities betwee 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 n a company and a person. Just like a human being, a
company can get ill. Many companies are falling sick due to a whole host of factors such
as the economic nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically lowdown, competition and incompetent management. Sickness is a big
business but nobody wants to be the patient or remain as the patient. Corporate ill health
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 s also a big business, as in a declining and stagnant economy, there are more sick
companies than healthy ones. Every company and individual wants to be in the ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ink of
health. It is important to keep your body healthy and well. Doctors generally only treat the disease and do not treat wellness. Individuals are beginn ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ing to recognize the importance
of wellness which is becoming a big business. The pharmaceutical industry understands
this as the drugs consumed for surgery a dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod d treatment are only for temporary demand.
Whereas, the drugs consumed for healing and wellness are for the longer term. This is
why medicines such as cholest cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin rol lowering drugs, anti-depressant drugs and health
supplements are in great demand. It is small wonder that there is such an enormous
research on the Intern tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen et on health matters. Hence the growing trend is for companies to
target wellness as a business. Similarly, we will see an increased awareness for companies to 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 target for corporate
wellness. After decades of downsizing and delayering, companies have found that the
state of health has not significantly improved. Moral ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust and loyalty of the staff have
deteriorated and companies are caught in a vicious cycle of restructuring to stay
competitive. Companies have found that it is y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products better for them to stay well and healthy, as
one does not have to get sick to get better. There are workable preventive, diagnostic and therapeutic steps to tr . 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 at sick companies,
and to restore as well as maintain their well being. Similar to handling of a person’s
health, a company needs to monitor the five stages t elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip sustain long-term health and
wellness, namely, prevention, early diagnosis, proper treatment, recovery or rehabilitation
and strengthening or health-boosting 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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