PHA617 - Unit 1B: Management Theories

• Administration


  pertains to activities that relate to running an organization.
• Pharmacy Administration


  social and administrative science
• economics of pharmaceuticals and other health interventions, marketing of pharmaceuticals and health services, and management of health resources

  3 strategic areas
• "Pharmacy Administrators


  handle both the medical/pharmaceutical and business aspects of a pharmacy establishment
• HR Management, Financial Management, Production Management, Marketing Management

  Knowledge a pharmacy administrator must posses to be effective
• Competition


  other drugstores/pharmacy establishments, other professions, alternative therapy
• Demographics of patients/clients


  age, gender, financial status, employment, and location
• Economic conditions


  employment, inflation, savings
• Healthcare coverage


  HMO, OOP
• Political and Legal Climate


  regulatory agencies policies and requirements
• People's Health Belief and Behavior


  self-diagnosing, trust in healthcare (medicines, personnel, and services)
• Management


  Attainment of organizational goals in an efficient and effective manner through planning, organizing, leading, and controlling organizational resources
• Management


  a process that brings together resources and unites them in such a way that, collectively, they achieve goals or objectives in the most efficient manner possible.
• Pharmacy Managers


  supervise the daily operations of the Pharmacy Department and work with the Pharmacy supervisor to accomplish the goals and objectives of the pharmacy
• Commanding Management


  full control vs threatening approach
• Commanding Management


  effective during organizational crisis
• Visionary Management


  mobilizes people
• Visionary Management


  effective when the leader is an authority in the field.
• Affiliative Management


  build relationships & create harmony vs mediocrity
• Affiliative Management


  effective in creating positive working environment; ineffective during crisis
• Democratic Management


  equals to build commitment and consensus vs time & quality of decision
• Democratic Management


  effective if workforce is experienced
• Pacesetting Management


  DIY attitude vs taking over if employee is underperforming
• Pacesetting Management


  effective if workforce is experienced and competent
• Coaching Management


  long-term professional development of employees vs investments
• Coaching Management


  ineffective when employees are resistant to change
• Accounting


  record and report financial transactions, manage cash flows, compute taxes, analyze profitability, determine business strengths and weaknesses
• Finance


  determine financial needs, identify sources of capital, invest profits, manage assets
• Economics & HRM


  determine the optimal mix of labor and capital, output, hours of business operations, levels of investment into risk management
• Marketing


  Identify competitive edge, target markets, promo strategies (ID & eval), selection of merchandise, arrangement of merchandise, pricing
• Operations management


  design workflow, control purchasing and inventory, continuous quality improvements
• Value creation -


  selling yourself at the correct price, to be freely chosen as a viable alternative in the marketplace
• Organization


  A deliberate arrangement of people brought together to accomplish some specific purpose
• TOP MANAGERS


  Responsible for the entire organization
• TOP MANAGERS


  Have titles such as president, chairperson, executive director, CEO, and executive VP
• TOP MANAGERS


  Set organizational goals, define strategies, monitor and interpret external environment, and make decisions for the organization
• TOP MANAGERS


  Look into long-term future and concern themselves with general environment trends and organization's overall success
• TOP MANAGERS


  Responsible for communicating a shared vision for the organization, shaping corporate culture, and nurturing an entrepreneurial spirit
• MIDDLE MANAGERS


  Responsible for business units and major departments
• MIDDLE MANAGERS


  Include department head, division head, manager of quality control and director of the research lab