1.

Division of Work-
Henri believed that segregating work in the workforce amongst the worker will enhance the
quality of the product. Similarly, he also concluded that the division of work improves the
productivity, efficiency, accuracy and speed of the workers. This principle is appropriate for
both the managerial as well as a technical work level.
2. Authority and Responsibility-
These are the two key aspects of management. Authority facilitates the management to work
efficiently, and responsibility makes them responsible for the work done under their guidance
or leadership.
3. Discipline-
Without discipline, nothing can be accomplished. It is the core value for any project or any
management. Good performance and sensible interrelation make the management job easy
and comprehensive. Employees good behaviour also helps them smoothly build and
progress in their professional careers.
4. Unity of Command-
This means an employee should have only one boss and follow his command. If an
employee has to follow more than one boss, there begins a conflict of interest and can
create confusion.
5. Unity of Direction-
Whoever is engaged in the same activity should have a unified goal. This means all the
person working in a company should have one goal and motive which will make the work
easier and achieve the set goal easily.
6. Subordination of Individual Interest-
This indicates a company should work unitedly towards the interest of a company rather than
personal interest. Be subordinate to the purposes of an organization. This refers to the whole
chain of command in a company.
7. Remuneration-
This plays an important role in motivating the workers of a company. Remuneration can be
monetary or non-monetary. However, it should be according to an individual’s efforts they
have made.
8. Centralization-
In any company, the management or any authority responsible for the decision-making
process should be neutral. However, this depends on the size of an organization. Henri
Fayol stressed on the point that there should be a balance between the hierarchy and
division of power.
9. Scalar Chain-
Fayol on this principle highlights that the hierarchy steps should be from the top to the
lowest. This is necessary so that every employee knows their immediate senior also they
should be able to contact any, if needed.
10. Order-
A company should maintain a well-defined work order to have a favourable work culture. The
positive atmosphere in the workplace will boost more positive productivity.
11. Equity-
All employees should be treated equally and respectfully. It’s the responsibility of a manager
that no employees face discrimination.
12. Stability-
An employee delivers the best if they feel secure in their job. It is the duty of the
management to offer job security to their employees.
13. Initiative-
The management should support and encourage the employees to take initiatives in an
organization. It will help them to increase their interest and make then worth.
14. Esprit de Corps-
It is the responsibility of the management to motivate their employees and be supportive of
each other regularly. Developing trust and mutual understanding will lead to a positive
outcome and work environment.

Reference: ​https://byjus.com/commerce/henri-fayol-14-principles-of-management/

2. Pharmacy Practice in Perspective

A. The evolving nature of pharmacy

● British trained pharmacists were the original pharmacists in the USA. They taught
younger persons through the apprenticeship method.
● The need for standardization and sustainability resulted in the first pharmacy schools.
● Chain pharmacies developed in the mid-1900s and were resisted by independent
store owners.
● Chains proved their equality and exist safely today.
● Economics of scale now favor the chain store for profitability and success.
● Today, nearly all medications are prefabricated in factories.
● Pharmacists are paid via a fixed professional dispensing fee.
● Automation and the use of paraprofessionals have kept costs low.
● Pharmacy accounts for about 10 percent of total annual health expenditures.
B. The Role of Business in Pharmacy Practice

Summary
● In the most basic sense, every organization is an input-output system. It takes
monetary, human, and material resources, and converts them into an output that is
useful to a target group of people.
● In a very simplistic sense, the role of business and the function of management are
to ensure that this input-output system operates smoothly.
● There are many misconceptions about the role of business vis-à-vis the practice of
pharmacy.
● One of the more common misconceptions is that the practice of pharmacy is ethically
inconsistent with good business. Good business and good pharmacy practice,
however, have a common objective: to serve the patient's needs with the resources
available.
● Another misconception is that in business, the quality of patient care is secondary to
the generation of profits. In fact, the generation of profits is closely linked to the
quality of care. The real issue, however, is one of what level of quality is necessary or
desirable.
● Because there have been many abuses of good business practices by some firms,
the entire realm of business has been criticized as not having professional standards
of conduct. But many laws and trade and professional standards of practice regulate
business activities.
● There are some who believe that a good pharmacist is one who focuses only on the
clinical aspects of the profession. However, pharmacists must understand the
business and economic environments within which they work.
● The laissez faire doctrine developed by Adam Smith established a public policy that,
by allowing organizations to fight for available resources, the best utilization of those
resources would be achieved.
● The role of business and professional management is to help an organization
become efficient and fight for its share of available resources.
● A business focus ensures that the pharmacy's monetary, human, and material
resources are used most effectively.
● Through carefully developed marketing efforts, the pharmacy can show its
customers” the benefits of its services.
● Without some guidelines that direct the pharmacy's activities, consistency will suffer,
and there will be no direction to the pharmacy's efforts.
● While the functions of business can be categorized in many ways, the most important
for the pharmacy can be grouped as accounting, finance, human resource
management, operations management, and marketing.
● The management process involves planning, organizing, staffing, directing, and
controlling.
C. Going into “business” in independent, chain and hospital pharmacy setting

● Before making a decision to start or buy a pharmacy, the prospective entrepreneur

needs to have clear goals, examine the disadvantages of ownership, and assess
personal skills and abilities to become successful in business.
● The reasons for starting a pharmacy are varied, but often relate to profit and wealth,
personal satisfaction, family involvement, independence and power, and social
status.
● Going into business carries with it disadvantages such as possible financial loss, lack
of job security and control over the environment, work and time demands, and impact
on the family.
● The costs and benefits of starting a pharmacy must be weighed
carefully---entrepreneurship is not for everyone.
● In a small pharmacy, it is especially important that the goals of the owner and the
business be compatible.
● To achieve success, the entrepreneur needs to develop strong managerial skills
because most failures have been attributed to lack of good management.

REFERENCE: Tamang copy paste lang atong sa summary na part noh hahaha