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Main Subject - Book Summary: Mind Your Own Business
A maverick is an independent person who will not go along with the other members of a group (Oxford ESL Dictionary). This book provides priceless stories and insights from a maverick of the business world; an exemplary business leader who p
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
refers not to follow orthodox beliefs in business, nor be eaten by the hyped up ideas of the present. Instead, he chooses the course of action that is appropriate for the changing times.
The Maverick’s Way: New Old Thing
What is effective
The Maverick’s Way: New Old Thing
What is effective
; 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
? This is the question answered by the maverick. He reconciles the good things from both the Old and New times, and focuses on what is really effective in confronting the challenges of 21st century business dealings.
A maverick thinks out
A maverick thinks out
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ide of the bed, knows that it pays to be daring, does not allow technology to tyrannize, finds strength in diversity, maintains balance and harmony among people, sets leadership by example, has a strong ethical base, and values employees an
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
d customers. A maverick knows his customers and believes strongly in his products.
To a maverick, a company is a not just a big candy store. It is a living instrument with living human beings. It should have a HEART.
Keys to Leadership
To a maverick, a company is a not just a big candy store. It is a living instrument with living human beings. It should have a HEART.
Keys to Leadership
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
The leader leads. He exercises critical judgment, which will have a great impact on his people.
The leader defines the company. The leader’s responsibility is to explicitly present and advocate the company’s purposes and goals.
The lea
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
er inspires. He gives sense and meaning to the job. He makes his people realize, that beyond profit there is an underlying meaning, value, and deeper reason for the work they do.
The leader should be the evangelist. He should be able to ex
The leader should be the evangelist. He should be able to ex
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
ercise his influence, to sell the values of ethical conduct.
The leader must see the company as a coherent whole. He should be aware of the diversity in the company and bring this together to promote the whole.
The leader must know that t
The leader must see the company as a coherent whole. He should be aware of the diversity in the company and bring this together to promote the whole.
The leader must know that t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
here is no better way to create a family in the workplace than to encourage the family at home. Harman International introduced the anti-domestic violence program in the company, which reinforces the idea that the company cares.
The leader
The leader
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
should never underestimate the value of disciplined hard work.
The leader empowers subordinates to do their jobs. He should institute programs for the guidance and training of his people. He should always keep the lines of communication op
The leader empowers subordinates to do their jobs. He should institute programs for the guidance and training of his people. He should always keep the lines of communication op
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
en.
The leader promotes closure. He should know the right time to get things done.
The leader knows what he doesn’t know. The leader is not afraid to ask clarifications, if he does not understand a particular subject.
The leader knows th
The leader promotes closure. He should know the right time to get things done.
The leader knows what he doesn’t know. The leader is not afraid to ask clarifications, if he does not understand a particular subject.
The leader knows th
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
e meaning of two minutes. He should respect the time of others and that of his own.
The leader teaches.
Above all, the leader develops others. As Lao Tzu advanced: “the leader having accomplished great things, the people all feel they did
The leader teaches.
Above all, the leader develops others. As Lao Tzu advanced: “the leader having accomplished great things, the people all feel they did
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
it themselves…”
The very best leaders go beyond the mere setting of example. He should be able to cause a leap of imagination and faith in his people.
The leader recognizes that people are often at their very best the moment they have bee
The very best leaders go beyond the mere setting of example. He should be able to cause a leap of imagination and faith in his people.
The leader recognizes that people are often at their very best the moment they have bee
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
n let go. There are times when an employee doesn’t like the work anymore, or he is unable to appreciate how the whole enterprise works- this is the time to set him free.
A Company Must Be Profitable
1. A solid financial base is fundamenta
A Company Must Be Profitable
1. A solid financial base is fundamenta
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
l.
2. Debt should not exceed equity. A debt to equity ratio of 1 to 1 or better should be the goal, so that a company’s leader and key executives do not spend all their time on mere survival -paying bills, meeting the payroll, and keeping
2. Debt should not exceed equity. A debt to equity ratio of 1 to 1 or better should be the goal, so that a company’s leader and key executives do not spend all their time on mere survival -paying bills, meeting the payroll, and keeping
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
he banks happy- but moving forward and meeting bigger challenges and doing more visionary work.
3. There should be a regular process for annual strategic planning and budget-planning.
The Fundamentals of Profit and Loss
1. Manage expecta
3. There should be a regular process for annual strategic planning and budget-planning.
The Fundamentals of Profit and Loss
1. Manage expecta
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
tions, not the profits. Keep the shareholders informed, to eliminate doubts of manipulating numbers.
2. The Chairman and CEO should be financially literate. They should know what the numbers really mean.
3. Good growth and profitability r
2. The Chairman and CEO should be financially literate. They should know what the numbers really mean.
3. Good growth and profitability r
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
equires the exercise of critical judgment. The leader should make certain that the budget is one the company can live with.
4. In repurchasing the company’s own stocks, make sure that it will add to the company’s earnings.
5. Look into th
4. In repurchasing the company’s own stocks, make sure that it will add to the company’s earnings.
5. Look into th
.
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
availability of funds so that the balance sheet will not be compromised.
Make an Edge in the Business World
1. Writing. It is a unique and powerful skill you can use for clarity and persuasion.
2 Public Speaking and Story-telling. Speak
Make an Edge in the Business World
1. Writing. It is a unique and powerful skill you can use for clarity and persuasion.
2 Public Speaking and Story-telling. Speak
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
directly, and without notes, to your audience. Individuals respond to a well-told story.
3. Thinking. People do not respect sloppy thinking in a leader. Thoughts should be carefully considered then expressed directly, crisply, and clearly
3. Thinking. People do not respect sloppy thinking in a leader. Thoughts should be carefully considered then expressed directly, crisply, and clearly
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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