Quiz 1 Flashcards
Management
Process which brings together resources and unites them in such a way that they achieve goals or objectives in the most efficient manner possible - not leadership (inspire and direct others)
Accounting
Evaluate companies financial position, records transactions, prepares statements, determines a businesses strengths and weaknesses, computes taxes owed to federal, state, local gov’t
Finance
Sources of funds, manage assets, develop operating budgets, identify sources of capital, determine financial needs
Economics
Optimal mix of labor and capital, optimal output, optimal hours of business, levels of investment into risk management
HR management
Conduct job analyses, hire personnel, orient and train personnel, appraise personnel performance, terminate employment
Marketing
Identify and implement competitive advantages, identify target markets, implement and evaluate promotional strategies, select proper mix of merchandise, properly arrange and merchandise products, price goods and services
Operations management
Design workflow, control purchasing and inventory, perform continuous quality improvement initiatives
Classical management theory
- Forecast and plan
- Organize
- Command,
- Coordinate
- Control
3 dimensions of management
- Activities a manager performs
- Resources that managers need
- Levels at which managers make decisions
Self-management
Most frequently occurring level of management, managing time to insure every prescription is dispensed accurately
Interpersonal management
Occurs between manager and one other person - pharmacist counseling patient about a medication or training technician on how to submit a claim for a medication therapy management
Organization management
Involves actions that affect groups of people or variety of stakeholders, pharmacists need to develop a policy or make a decision that may affect many people at the pharmacy
Resources that are managed
Money, people, time, materials, information
Factors affecting the delivery of pharmacy goods and services
Patient demographics, attitudes and beliefs, third-party payers, competitive markets, technology
