Overview of Management Principles

Phar 11

James N. Pasamonte, R.Ph., Dip.OD, MM

Faculty of Pharmacy University of Santo Tomas

Management & Managers

Management is simply the act of getting people together to accomplish desired goals and objectives. Managers is the employment of human, physical and financial resources to achieve organizational goals and objectives.

Pharmaceutical Administration and Management By: JNPasamonte

Objectives vs Goal
Objectives are statements of specific ends that a plan is meant to achieve. An objective is specific, concrete, measurable, and signifies the idea of grasp.
Example: Increase our sales by 20% in NCR within the next 3 years.

Goals are broader, not time-specific, ends that are unattainable but constantly striven for. They are what the company reaches for.
Example: Our continuing goal is zero customer complaints on our products.
Pharmaceutical Administration and Management By: JNPasamonte

Management vs Leadership

Management is doing things right; Leadership is doing the right things.

- Peter Drucker
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Management Functions
Planning A process that includes defining goals, establishing strategy, and developing plans to coordinate activities. Organizing Determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made Leading A function that includes motivating employees, directing others, selecting the most effective communication channels, and resolving conflicts. Control Monitoring activities to ensure they are being accomplished as planned and correcting any significant deviations
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How do you want to be remembered?

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Begin with the End in Mind

Where I want To GO

Where I AM
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Personal Mission Statement

Encourages you to think deeply about your life Helps you examine your innermost thoughts and feelings Clarifies what is really important to you. Expands your perspective Imprints self-determined values and purposes firmly in your mind Provides direction and commitment top values. Enables you to make daily progress toward longterm goals Provides the first mental creation of your desired results for your life.

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Personal Mission Statement PROCESS What things do I want to have that I feel are important? What am I about? What are the qualities of character I would like to emulate? What legacy do I want to leave?
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Sample Mission Statement

'Let the first act of every morning be to make the following resolve for the day: I shall not fear anyone on earth. I shall fear only God. I shall not bear ill toward anyone. I shall not submit to injustice from anyone. I shall conquer untruth by truth. And in resisting untruth, I shall put up with all suffering - Mahatma Gandhi.

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Sample Mission Statement

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Sample Mission Statement

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Does it match?

MY VISION / MISSION

MATCH

OUR VISION / MISSION

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Let us understand the Business Environment

Threat of New Entrants

Industry Competition

Bargaining Power Of Suppliers Rivalry Among Existing Firms

Bargaining Power Of Customers

Threat of New Substitute Product

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Levels of Competition

Quality Delivery Price

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Environment

Strength W eakness O opportunities T threats

Internal

External
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STEEP or PESTE

External Environment Universe

Political - Legal E conomic S ocial - Cultural Technological E cological

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External Environment Universe

Political - Legal E conomic S ocial - Cultural Technological E cological

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External Environment Universe

Political - Legal
This element of the analysis consists of understanding the political and legal environments of a specific country or region where companies select to operate. Failure to understand and adapt to the political and legal environments will result in overcoming barriers which may be too costly to deal with, given the expected return on investment. National and Local Legislation, Trade/Labor Unions, Trade/Labor Laws, Health and safety Law, Equality, Discrimination, Political Elections, Political Party

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External Environment Universe

E conomic
The economic environment contains aspects dealing with individuals' capacity to obtain products or services given the set of economic conditions. Analysts must properly assess how consumers will react when there are changes within the environment and how their firm should adjust their strategy to remain competitive given the circumstances GDP, GNP, Interest Rates, Inflation, Forex, etc.

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External Environment Universe

S ocial - Cultural
The social element of the external environment takes into account the aspects that describe society as a whole. Some of the key elements that organizations must deal with in each market are:
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Demographics Lifestyles Religion Education Age distribution of the population

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External Environment Universe

Technological
Industries that rely on technological advances to generate new products and services are prone to be affected by rapid changes in the environment. It is the job of analysts to monitor and measure the effects the changes within the technological environment will have on their respective product-development strategies. This task may take years to conduct depending on how the industry is driven by innovation IT for business management (hardware and software), MIS, equipment and materials (quality, cost and new developments)

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External Environment Universe

Ecological
The ecological element considers the present-day situation of the physical and biological environments that companies can face. Companies which make use of natural resources in producing goods should devote a great amount of time examining the ecological environment of each country in which they are offering their goods and services. Without the correct information, companies can be fined and refused the right to operate in certain regions around the globe. Sustainability, recycling, waste disposal, energyefficiency, fuel
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