Cases - Business

Do you dislike making decisions and avoid the challenge whenever you can?

Take heart. Look around and you will find you have plenty of company.

Management psychologists Irving L. Janis and Leon Mann say people tend t

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

o be “reluctant decision makers” because they are “beset by conflict, doubts and worry.” They explain that people “seek relief by procrastinating, rationalizing and denying responsibility” in making choices.

Th

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

Examples of combination products may in

s human tendency creates a big vacuum. Its name is opportunity!

"Organizations cannot function, certainly cannot succeed, without good decision- makers. Organizations reward those men and women who are willing and ab

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

le to fill those roles," according to Ramon Greenwood, senior career counselor at www.CommonSenseAtWork.com

Therefore, opportunities are available for those who are willing and able to come to grips with decisio

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

-making. It's the very essence of management. Success depends on being confident and reasonably comfortable with the process. Of course, success also requires a good batting average of right decisions. That does

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

Combination pro

n't mean you have to be right all of the time; it means be right more often than wrong.

Why People Shy Away From Decisions

It helps to understand some of the reasons why people dislike making decisions.

All decisi

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

ns encompass some degree of irrevocability. Once a decision has been made there is no returning to square one. There is a price tag attached to every decision. There are bound to be winners and losers.

Decisions

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

expose us to attention. We may lack confidence in our ability to make decisions. We may not know how to make decisions.

These facts of life breed the kinds of stress that make some people so uncomfortable they ha

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

rather let others call the shots and take home the rewards. Others are willing to stick their heads in the sand and let the issues go unresolved.

How To Make Better Decisions

You can improve your tolerance for mak

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

ing decisions and do a better job at it by embracing a few common sense ideas.

It is important to realize that although each decision carries with it certain consequences, no outcome is likely to be the raging suc

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

ess or the unmitigated catastrophe we tend to imagine.

You will not be a good decision maker if your goal is always to avoid losing rather than always trying to win. Nobody in his or her right mind can expect to

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

Following aspects would a

be right 100 percent of the time. Besides that, as I have already said, you don’t always have to be right in order to come out an overall winners.

You can’t afford to be defensive about decisions that turn out to

dd to the challenges in developing combination products:

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

be wrong. When you are wrong, and you will be from time to time, admit it and go on.

If you want to be a good decision-maker don’t get hung up waiting for all of the facts before coming to a conclusion. Satisfy y

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

our self that you understand the issue and have weighed all of the options. Test the alternative solutions among those who know the situation and will be impacted by the decision. Decide. Act.

Learn to trust your

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

ntuition. Hunches are not random bolts out of the blue. They are rooted in all the knowledge and experience you have accumulated in general and with regard to the issue at hand.

Decisions surrounding major issue

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

s should be broken into smaller, manageable parts. Take the parts one at a time; come to conclusions in sequence.

Resist being pressured into making a decision before you are ready to decide and act. All problem

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

Professional from academic institutions, pharmaceutical industries, health care indust

do not require immediate answers. Sometimes issues resolve themselves or just go away.

Don't base decisions on popularity. Or on friendship.

Make Decisions To Grow

Nobody says you have to play the game as decisio

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

n makers. But before deciding your role, but keep in mind how the real world works.

Organizations grow and profit only to the extent that their managers make good decisions. Therefore, ambitious organizations nee

.

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

and will pay to get men and women who can make decisions. People who have that ability are in limited supply. This means there are opportunities to gain positions of leadership and earn the material rewards th

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

Companies that provide selfless information through particip

at go to those persons who have the ability and courage to make decisions.

The choice is yours. Make a decision today.

For more information on achieving success in the world of work visit www.CommonSenseAtWork.co

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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A good, clear and comprehensive Resume or CV is essential today if you are to 'get through the door' to interview. This short article shows you, in very concise terms, what you should or more importantly should not, do when compiling the document yourself.

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