PHM370H1: Community Pharmacy Management

26L

A comprehensive program outlining the issues and topics which are critical in the successful operation of a community pharmacy practice including: selection of organizational structures, demographic review, financial analysis, business plan development, purchasing and financing a community pharmacy, operational workflow, financial management, risk management and insurance, inventory purchasing procedures and inventory management, pricing decisions, marketing strategy, advertising, sales promotion and salesmanship, ethics, security and general business policies. Building on the basic principles taught in PHM215H1, this course expands into a case based learning application of business administration which offer students exposure to Finance, Operations, Organizational Behaviour, Innovation and General Management as applied to the field of Pharmacy and Healthcare. The cases will provide students with the opportunity to develop skills for effective analysis, evaluation and problem-solving. To do this, students will learn about basic analytical tools (e.g., projections, break-evens, communication, organization theory) and will then be required to apply these tools using case methodology. Students will be given the opportunity to practice decision-making with imperfect information under time constraints and develop business writing skills. Preparation of a detailed business plan will also be a mandatory component for this course.