BUSINESS PLANNING FOR

PHARMACY PROGRAM
 What is the difference between
strategic plan and business plan?
 Primarily used for implementing
and managing the strategic direction
of an existing organization.
Is for established businesses,
organizations and business owners
that are serious about growing their
organization.
STRATEGIC PLAN
BUSINESS PLAN
It is used to provide focus, direction
and action in order to move the
organization from where they are
now to where they want to go.
It focuses on building a sustainable
competitive advantage and is
futuristic in nature.
It is used to communicate the
direction of the organization to the
staff and stakeholders.
Used to initially start a business,
obtain funding, or direct operations.
It could be for new businesses and
entrepreneurs who are startups.
It is used to provide a structure for
ideas in order to initially define the
business.
It is used to assess the viability of a
business opportunity, and is more
tactical in nature.
It is used to present the
entrepreneur’s ideas to a bank.
 Business Plan
A business plan is a written document prepared by the
entrepreneur that describe all the relevant internal and external
elements and strategies for starting a new venture
Why develop a business plan???
All the work you do in thinking up your idea, testing it,
studying it and producing it, has been for nothing if
you cannot sell it.
 Define Your
Business

Measures Rationale

Financial Market
Plan Research
Business
Plan Steps

Organizational
Organizational Competitor
Plan Analysis

Identify
Marketing
Marketing
Plan
Strategy
 Define Your Business
• Define goals, aims or purpose of the business. The business
tries to achieve these goals.
• Profit is the main objective of business. However, the business
cannot have only one objective.
• This is because it has to satisfy different groups such as
shareholders, employees, customers, creditors, etc. So, it has
to fix objectives for each group.
 Rationale
• Set of facts that support the existence of your business plan.

• An overview of the industry sector that your business will be a

part of, including industry trends and major players in the
industry.

• What you do?

• What you stand for?
• Why you do it?
 Marketing Research
• Marketing research Process of collecting and using
information for marketing decision making

• Marketers use data from a variety of sources to understand

customers, target customer segments, and develop long-term
customer relationships

• Research is the primary source of information used to make

effective marketing decisions
 Competitor Analysis
• Who is our competition?
• What is the profile of our competitors?
• What are the business goals of our competitors?
• What threats / opportunities do they pose?
• What market strategies are being followed by the competition and what is
the success rate?
• What are the strengths and weaknesses of our competitors?
• How will the competition react to our business tactics?
Identify Marketing Strategy
Marketing Plan
 Key Unique
Product
Customer Selling
Attributes
Benefit Proposition

• “Product Attributes” is usually comprises features, shapes, colors,

strength, dosage form and indications.
• “Key Customer benefit” is what the patient get from product rather than
its physical characteristics and features.
• “Unique selling proposition (USP)” is company’s unique position in the
market place. A strong USP allows you to stand apart from competitors and
actively focus your energy.
 Organizational Plan
• This step includes planning of the optimal organizational structure, the
staffing levels, personnel requirements, and the reporting relationships of
the program.

• Personnel job titles and job descriptions.

 Financial Plan
• Financial Plan determine whether your business idea is viable or not.

• It is a key component in determining whether or not your plan is going to

be able to attract any investor or not.

• Forecast of the product along with Variable and fixed costs should be
describe by which we can analyze the expected revenue
 Measures
• Measuring business plan progress by initially weekly meetings.

• Also analyze profit and loss statements, inventory management,

production, quality and sales control.