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Main Subject - Creativity and Innovation Management - Core Competencies and Competitive Advantage
Following is a brief definition of core competencies and competitive advantage and their fit
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
with creativity and innovation management.
Core Competence:
A core competence is one whic
Core Competence:
A core competence is one whic
; 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
critically underpins the organisation's competitive advantage. Companies can differentiate
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
hemselves from their competitors with specific core competencies, but often not for long. Th
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
differentiation is difficult to sustain and can often be imitated by competitors.
The inte
The inte
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
gration (and attainment) of constituent skills that is the distinguishing mark of a core com
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
etence, is achieved and sustained through developing strong dynamic capabilities, particular
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
y in a world of innovation based competition.
Competitive Advantage:
Whilst a core compete
Competitive Advantage:
Whilst a core compete
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ce is a source of competitive advantage, not all competitive advantages arise from core comp
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
etencies. Often seemingly unassailable advantages prove transitory because of a change of un
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
erlying factors. The very existence of competitive advantage sets in motion creative innova
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
ions that, as competitors strive to level the playing field, cause the advantage to dissipat
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
.
Recognition of, and adaptation, to change is thus a pre-requisite of successful strategy.
Recognition of, and adaptation, to change is thus a pre-requisite of successful strategy.
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
For many organisations, the only truly sustainable advantage comes from out-innovating the
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
ompetition.
These topics are covered in depth in the MBA dissertation on Managing Creativit
These topics are covered in depth in the MBA dissertation on Managing Creativit
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
& Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Goo
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
Idea Generator Software and Power Point Presentation) from y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
w.managing-creativity.com">http://www.managing-creativity.com. You can also receive a re
.
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
ular, free newsletter by entering your email address at this site.
You are free to reproduc
You are free to reproduc
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
this article as long as no changes are made and the author's name and site URL are retained
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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