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Useful Articles - Convert Ideas into Growth
Ideation is the flow of ideas that can be converted into growth on a consistent basis. Ideas for new products and/or services can come from two places: inside your organization or outside of it. Let's deal with the internal sources first.
I sometimes hear CEOs saying, "We
I sometimes hear CEOs saying, "We
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
don't have enough ideas inside our organization. They aren't flowing, and the ones that do surface aren't very good."
Frequently, their explanation for why that is the case is that they have hired the wrong people, or that they are just not creative enough.
That is poss
Frequently, their explanation for why that is the case is that they have hired the wrong people, or that they are just not creative enough.
That is poss
; 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
ible, of course, but I find it is rarely the true explanation.
The reason there may not be enough ideas could be as simple as people not believing that you, the leader, are serious about wanting growth, and so they focus their attention elsewhere. If the leader just talks
The reason there may not be enough ideas could be as simple as people not believing that you, the leader, are serious about wanting growth, and so they focus their attention elsewhere. If the leader just talks
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
a good game about growth, but doesn't take action, then people see through him immediately.
Another likelihood: The ideas are there, but they are buried under layers of bureaucracy that keep them from surfacing.
A third possibility: People have potentially good ideas, bu
Another likelihood: The ideas are there, but they are buried under layers of bureaucracy that keep them from surfacing.
A third possibility: People have potentially good ideas, bu
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t they are afraid of raising them, because there is nothing in the corporate culture that will reward them for taking a risk, and many things that will impede their career if the ideas they propose do not work out. That is often a major problem. You need to make sure that
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
employees feel safe taking risks.
A fourth thing to check: How good are the informal networks in in your company -- say, between sales and R&D -- in which people from different departments are constantly talking to one another and fostering ideas? Or are those interaction
A fourth thing to check: How good are the informal networks in in your company -- say, between sales and R&D -- in which people from different departments are constantly talking to one another and fostering ideas? Or are those interaction
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
too time-consuming and cumbersome and employees find themselves cut off from people outside their own department?
The final question to ask is: As a leader, are you regularly in your staff meetings trying to come up with new ideas?
Let's suppose you are the senior vice
The final question to ask is: As a leader, are you regularly in your staff meetings trying to come up with new ideas?
Let's suppose you are the senior vice
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
president of marketing. How often do you meet with your head of advertising or public relations and talk about ways you could help grow the business. Is that a dedicated agenda item? How often do you meet with your counterparts in R&D or finance and talk about growth?
On
On
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
a scale of one to ten, how well are the ideas flowing in your organization? How good are those ideas? Where are they coming from? What is inhibiting them? What will increase their flow?
You, as the leader, are interested in both the number -- you are trying to generate as
You, as the leader, are interested in both the number -- you are trying to generate as
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
many ideas as possible -- and the quality of the new concepts being proposed. Are people trying to come up with only home runs, or are they going for singles and doubles as well? How well does the culture encourage ideas of all kinds? These ideas don't have to come out of
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
R&D. A new idea may involve moving into a different market. Or using a different form of distribution. What matters is a steady flow of ideas, not where they come from.
As for external ideas -- that is, ideas for new products or services that are generated outside the org
As for external ideas -- that is, ideas for new products or services that are generated outside the org
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
anization, from suppliers, customers, and alliance partners -- the first question you need to ask is: How strong are the links between the people with outside contacts, your sales force, and your development people? Are they talking to one another all the time, or are ther
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
layers inhibiting the flow of ideas? Jeff Immelt's idea of ACFC, "at the customer, for the customer," where you literally become part of your customer's culture, is helpful here.
If you are unhappy with the ideas being generated, check to see that they are flowing in all
If you are unhappy with the ideas being generated, check to see that they are flowing in all
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
directions: top-down, bottom-up, and side-to-side. You want to ensure that they are coming from the outside (that is, through interactions with your customers as well). And if enough ideas are not surfacing, identify the root cause and deal with it.
One other thought abo
One other thought abo
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
ut this. When an idea surfaces, take a minute or two to help shape it. Help the person who proposes it take it as far as he can. Make sure it is as fully formed as possible. You want it to appear in the best possible light as it is subjected to your selection process. Doin
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
so enhances people's motivation.
That is what Bob Johnson, head of Honeywell's Aerospace division, did.
"As a division, and as a company in general, we were great at taking costs out and getting things done," Johnson explains. "We were an execution -- and productivity -
That is what Bob Johnson, head of Honeywell's Aerospace division, did.
"As a division, and as a company in general, we were great at taking costs out and getting things done," Johnson explains. "We were an execution -- and productivity -
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
- driven culture. But as the economy began to slow down, we knew we would have to come up with ways to grow faster than the economy as a whole, if we wanted to stay ahead of the competition."
The problem was that the people who traditionally succeeded at Honeywell Aerospa
The problem was that the people who traditionally succeeded at Honeywell Aerospa
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ce did not think in terms of growth, risk-taking and new ideas. "The company was technical and analytical," Johnson explains. "People were not great risk-takers. We needed to develop creativity and entrepreneurial thinking and take some good risks.
Culture changes like th
Culture changes like 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
s, obviously, do not happen overnight. But Johnson set out to change Honeywell Aerospace. The company began to recruit and promote people who were creative, and he deliberately fostered an environment in which it was okay to propose new ideas, with no penalty if they were
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
shot down.
At Honeywell, as elsewhere, once people see that new ideas are being taken seriously -- and there are no negative consequences associated with the process of proposing them, and indeed are rewarded for doing so -- they are more likely to offer some of their own
At Honeywell, as elsewhere, once people see that new ideas are being taken seriously -- and there are no negative consequences associated with the process of proposing them, and indeed are rewarded for doing so -- they are more likely to offer some of their own
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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