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Title: Pharmacy lecture notes 1
Description: Pharmacy lecture notes 1 lesson class pdf.

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The pharmacist as entrepreneur
Entrepreneur
‘’A person who take the risk to invest

money and time to start a new business ‘’

Course Title

Pharmaceutical Administration (PT-529)

The role of business in pharmacy practice
Pharmacy as any organization is an input-output
system
...

o Equipment:

include

laboratory

wares,

cashier,

computers ……etc
...

o Eligibility means preparing a legal form of ownership
Course Title

Pharmaceutical Administration (PT-529)

Misconceptions about Business and Pharmacy practice
1
...


3
...


The practice of pharmacy is not consistent with good
business
...

Business is not profession guided by the same types
of ethical standards of practice that apply to
pharmacy
There are some who believe that good pharmacist is
one who focuses on the clinical aspects of the
profession
Course Title

Pharmaceutical Administration (PT-529)

Why a business perspective is important ?
It guide the pharmacist to care about:
1
...

I
...

III
...


Utilization
of
recourses:
Capital-labor-material
(medicines, cosmetics)
Remaining competitive and adapting to change
develop marketing efforts
know your customer (MD
...

adapt to social and cultural shift (e
...
Higher standard
living patients may care about expensive original
cosmetics and decorations) and technological advance
...


Accounting function

2
...


HR function (human resources)

4
...


Marketing function

Course Title

Pharmaceutical Administration (PT-529)

Accounting function


1
...


Preparing financial statement for internal &
external use

3
...

Course Title

Pharmaceutical Administration (PT-529)

Financial function



It determine the financial needs and source of
borrowed funds



It determine the source of equity capital (Equity

Capital is funds provided by the owner to finance the
business)


Develop operating budget
...


Preparing job description & Vacancy

2
...


Laying off underperformance employees
Course Title

Pharmaceutical Administration (PT-529)

Operation function


It is about how to utilize (process) inputs (skills,
medications and cosmetics, equipment, and services)
to

get

a

satisfactory

outputs

(prescriptions,

counselling, delivery and answering questions)

Input


Output

This function closely interacts with other functions as
purchasing , inventory , use of equipment
...




It means “Link to outside”



Customers include patients , hospitals, physicians
...


Course Title

Pharmaceutical Administration (PT-529)

Management

It is a process of planning ,organizing ,leading

and controlling the organization resources to
attain the organizational goals effectively
...
leader

Course Title

Pharmaceutical Administration (PT-529)

Management

Manager vs
...


Planning

2
...


Staffing

4
...


Controlling

Course Title

Pharmaceutical Administration (PT-529)

Planning
Planning is:


the of process of creating and maintaining a plan;



The psychological process of thinking about the
activities required to create a desired goal
...


Course Title

Pharmaceutical Administration (PT-529)

Planning


Importance of the planning process



To avoid mistakes



To recognize hidden opportunities
...




To know how to develop business through
management, financing, and marketing
...


Goals to be achieved

2
...


When and how these tasks should be performed
...

Course Title

Pharmaceutical Administration (PT-529)

The Planning process



Strategic plan is the setting of the action steps by
which the pharmacy intend to attain its strategic

goals
...


Course Title

Pharmaceutical Administration (PT-529)

Pharmacy Goals


Survival goal ‘’just keep the business going
for a desired period ‘’



Growth goal

Sales

profit

another outlet

Course Title

Pharmaceutical Administration (PT-529)

Course Title

Pharmaceutical Administration (PT-529)


Title: Pharmacy lecture notes 1
Description: Pharmacy lecture notes 1 lesson class pdf.