A comparison of approaches to student pharmacist business planning in pharmacy practice management

Research output: Contribution to journalArticle

Abstract

Objective. To compare second-year student pharmacists’ perspectives on two approaches for completing a pharmacy practice management business planning project. Methods. A mixed-methods approach was used to compare two options (traditional and experimental) for completing business plan projects that were offered to teams of second-year student pharmacists as part of a required pharmacy management course. Teams who chose the traditional project were required to develop a unique, pharmacy-related business plan while those who chose the experimental concept were paired with a pharmacy-focused firm within Tennessee and tasked with designing a potential service for the firm’s consideration. At semester’s end, all students were asked to complete a brief survey to provide insight on their experiences with either of the group projects. Students and firm stakeholders were also asked to participate in a group and individual interview, respectively. Results. Student group comparisons indicated that the experimental project provided a more realworld, business planning experience. Additionally, groups that did the experimental project were more likely to report seeing how business and pharmacy practice were connected, indicate a better understanding of the principles of pharmacy management, and be perceived as more marketable for a future pharmacy career. Firm representatives indicated that insight provided by the students was valuable and that they had plans to implement what was proposed. Conclusion. Connecting student pharmacists with a pharmacy-focused firm provided a real-world management experience that better complemented the course’s principles, and created a mutually beneficial innovation-focused partnership.

LanguageEnglish (US)
Article number6279
Pages401-409
Number of pages9
JournalAmerican journal of pharmaceutical education
Volume82
Issue number5
DOIs
StatePublished - Jun 1 2018
Externally publishedYes

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Practice Management
pharmacist
Pharmacists
Students
planning
management
firm
student
project planning
project group
experience
business management
Group
semester
stakeholder
career
Interviews
innovation
interview

All Science Journal Classification (ASJC) codes

  • Education
  • Pharmacology, Toxicology and Pharmaceutics(all)

Cite this

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abstract = "Objective. To compare second-year student pharmacists’ perspectives on two approaches for completing a pharmacy practice management business planning project. Methods. A mixed-methods approach was used to compare two options (traditional and experimental) for completing business plan projects that were offered to teams of second-year student pharmacists as part of a required pharmacy management course. Teams who chose the traditional project were required to develop a unique, pharmacy-related business plan while those who chose the experimental concept were paired with a pharmacy-focused firm within Tennessee and tasked with designing a potential service for the firm’s consideration. At semester’s end, all students were asked to complete a brief survey to provide insight on their experiences with either of the group projects. Students and firm stakeholders were also asked to participate in a group and individual interview, respectively. Results. Student group comparisons indicated that the experimental project provided a more realworld, business planning experience. Additionally, groups that did the experimental project were more likely to report seeing how business and pharmacy practice were connected, indicate a better understanding of the principles of pharmacy management, and be perceived as more marketable for a future pharmacy career. Firm representatives indicated that insight provided by the students was valuable and that they had plans to implement what was proposed. Conclusion. Connecting student pharmacists with a pharmacy-focused firm provided a real-world management experience that better complemented the course’s principles, and created a mutually beneficial innovation-focused partnership.",
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