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Main Subject - The Great Importance of Doing Business with Ethics
For most people, money makes the world go round and business bears that money. Businessmen will perhaps do anything just to achieve the ultimate goal of having a business, and that is to earn income. Net profit or income financially means a sur 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 plus of sales or revenues after deducting costs and expenses. Whether you are engage in profession, occupation, work or trade, you are in business and you speak income. When you earn an income you suffer taxes, the worst nightmare for every inco ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in e earners. Income tax is your punishment of doing well in business. This sounds ridiculous but this is the reality, you pay when you earn. Because tax is legislative, noncompliance to this would results to crimes. This thing called income tax ha lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. already made billions of liars around the world. Some governments imposed taxes which are already too much to burden the flow of business. Others make tax laws that are already beyond the ability of taxpayers. However these facts must not resul here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe in the existence of enormous number of dishonest people in the world. Ethics in business rarely exists nowadays. Perhaps it is because for most people, profit will come without the need of business ethics. This, I don’t agree. The word ethics d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro s derived from the Greek word ethos, which means "character," and from the Latin word mores, which means "customs." According to the encyclopedia ethics is the branch of philosophy that defines what is good for the individual and for society and 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 establishes the nature of obligations, or duties, that people owe themselves and one another. Maybe ethics is not needed to earn profit if you define profit or income as money. But deeply speaking, business is not just for money. Yes it is defin 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 tely for profit, but profit is not just financial profit. We need profit that will not just sustain our pocket or our stomach. Significantly, we also need profits that will feed our hearts and soul. Considering that we are great businessmen, we nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically hould extend our minds to this principle. We need business ethics to earn these high valued profits. We must be concerned to the virtue of our character and to the common good. Your business is not just for the survival of your life on Earth bu 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 it can also be your road to the survival of your soul. If you’re in business and had a company, you can help your employees by providing them enough salaries and other benefits that will make their lives better. You can be honest and pay your e ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi act tax for the government who will eventually use it for your country’s development. (Assuming your government is straight and not corrupt) But don’t mind them, be honest even others are not. We are talking here your soul survival and not their ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a . You can also serve your customers by providing them their needs and giving them convenience. Customer care is so important for your customers as also important for your business to earn public trust and loyalty. If you build infrastructures fo dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod your company you contribute to the development of your place in terms of buildings and infrastructures. When you got ethics in business you practice fair business competition. Fair business competition is a challenge for every business to impro cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin e the qualities of their products and services, and the end benefits are to the consumers. Doing business with clean conscience is doing business with good night sleeps. It is also doing business with gladness of your heart and soul. Gratitude tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ill come to you and you will become a stress free businessman if you do business with ethics. These and other spiritual profits will straightly come to you and the good thing on this is you are not taxed on this kind of profits. As an extraordin 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 ry businessman, you do not only set your long-term goals for 10 years or for a life time. You must also consider eternity and set goals to achieve profits that will benefit your soul. You need profits that last forever, profits that will give us ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust everlasting life and happiness, and profits that will earn us the key to heaven. These profits will benefits us in the short run, midterm run, long run and eternal run, as God is great from the beginning and unto the never-ending. Do business y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products nd believe in God. Building our business in God’s place is like building it in rocks which are in great foundations. Let us be kind and grateful to our employees as they are our best assets. Let’s give them bread and they will give us a ham sand . 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 ich. Let us have huge care to our customers as they are our best revenue generators. Let’s give them good price, high quality products and best services and they will give us their respect and loyalty. Let us be fair to our competitors as they a elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip e our great motivators. Let us give them fair game and they will give us the true meaning of winning. Let us be thankful to our Father Almighty God as He is our greatest business partner. Let’s serve Him and He will give us joy and peace of mind 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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