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Pharmacy Management (P1 Spring) > The Planning Process > Flashcards

The Planning Process Flashcards

(49 cards)

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1
Q

______ is the purposeful efforts taken to maximize future success

A

Planning

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2
Q

Name the 6 types of planning

A 
Financial
Organization 
Resources
Business 
Strategic 
Contingency
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3
Q

What type of planning Ensures the organization is doing the right things now and in the future?

A

Strategic Planning: overarching effect that should guide all planning

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4
Q

Which type of STRATEGIC planning is best, proactive or reactive?

A

PROACTIVE- you are in control

Reactive- not in control b/c you are just responding to a situation that has already occured

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5
Q

How far out is strategic planning “planned”?

A

Long-term (3 to 5 years out)

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6
Q

_____ is the purpose of the organization?

A

Mission

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7
Q

______ Is what we want to do in the future.

A

Vision

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8
Q

Mission Statement (2)

A
  • defines who we are

- Differentiates you from others that provide the same products or services

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9
Q

Vision Statement (2)

A
  • make people think and motivate them to create a different and better future
  • used in the beginning and end of strategic planning
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10
Q

SWOT

A

Strengths
Weaknesses
Opportunities
Threats

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11
Q

Strengths and Weaknesses are both ________.

A

Internal

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12
Q

Strengths are _____ while weaknesses are _____.

A

positive;negative

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13
Q

Opportunities and Threats are both _______.

A

External

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14
Q

Opportunities are ____ while threats are ______.

A

positive; negative

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15
Q

Strengths and opportunities (2)

A
  • Positive attributes of an organization

- Characteristics that may bode well for success

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16
Q

Weaknesses and threats

A

-negative attributes or characteristics

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17
Q

Goals should _______ on strengths and opportunities while _________ threats and mitigating weaknesses

A

CAPITALIZE; MINIMIZING

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18
Q
  • Effectively communicating the plan
  • Implement the plan
  • Monitoring the progress and assessing the results describe what part of the strategic planning process?
A

Post planning

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19
Q

Name the steps in a Business Plan (5)

A
  1. Define the Business or Program
  2. Conduct Market Research and Analysis
  3. Define Processes and Operation
  4. Develop a Market Strategy
  5. Develop Financial Projections
  6. Identify an Action Plan
  7. Establish an Exit Plan
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20
Q

What 3 steps need to be taken when conducting MARKET RESEARCH AND ANALYSIS?

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A
  • Evaluate market
  • Evaluate competitors (SWOT)
  • Assess clinical and quality requirements
21
Q

The defining processes and operation involves what 2 things?

Study These Flashcards
A
  • Organizational structure

- Physical structure, equipment, and resources

22
Q

Staffing and personnel requirements, job titles, job descriptions
is apart of the _______

Study These Flashcards
A

Organizational structure

23
Q

Applicable legal and profession standards,
Equipment,
Billing and payment infrastructure
are considered what?

Study These Flashcards
A

Physical structure, equipment, and resources

24
Q

Identifying target market and develop a plan to gaining business in that market describes what part of the business plan?

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A

Developing a Market Strategy

25
Which step in the business plan is the most critical and must have a positive benefit-to-cost ratio in order to be approved?
Developing Financial Projections | (revenue generating is preferred)
26
In developing financial projections _____ and ______ should be considered via a Pro forma income statement and balance sheet projected for _______ years.
costs incurred; resulting financial benefits; 3- 5 years
27
Defining major milestones and action steps for periodic monitoring and performance assessment describes what step of the business plan?
Identifying an Action Plan
28
Defining when, why , and how the decision would be made to terminate a program and defining dissolution action plans describes what part of the business plan?
Establishing an Exit Plan
29
Defining major milestones involves what 2 things?
- Start and finish dates | - Persons responsible for each task necessary to accomplish the objectives of the business plan
30
Exit plans are usually due to what?
failure to meet predetermined goals
31
Establishing a business plan requires routine ___________and __________ to benchmarks or thresholds
measurement; comparison
32
Defining DISSOLUTION action plans involve what 3 things?
- Customer notification - Employee notification - Facilities, equipment, and resources
33
Business Planning: | Defining the business or program involves what?
Developing a mission statement to steer the direction of the business program
34
Business Planning: | Conducting Market Research and Analysis involves what 3 things?
- Evaluating the market - evaluating competitors using (SWOT) - Assessing clinical and quality requirements. (legal and professional standards)
35
Business Planning: | Defining the PROCESSES AND OPERATION involves what 2 things?
- Organizational structure | - Physical structure, equipment and resources
36
Business Planning: | Developing a MARKET STRATEGY involves what?
Identifying a TARGET market and developing a plan to gaining business in that market
37
T/F? | Developing Financial projections is the most CRITICAL step in business planning
True
38
In order for financial projections to be "APPROVED" what must be obtained?
most likely a POSTIVE benefit-to-cost ratio (revenue generating)
39
What must be considered when developing a FINANCIAL PROJECTION in business planning? (2)
Costs incurred and resulting financial benefits evaluated via Pro forma income statements and balance sheets -3-5 year projections
40
Business Planning: | Identifying an ACTION PLAN involves what 2 things?
- defining major milestone | - defining action steps for periodic monitoring and performance assessment
41
Business Planning: | Establishing an EXIT PLAN involves what 2 things?
- defining when, why, how the decision would be made to terminate a program - defining dissolution action plan
42
T/F? | When presenting a business plan ORAL presentation is NOT as important as WRITTEN plan.
False | -both oral and written are just as important
43
When presenting a business plan what should be considered(2)?
- audience - politics , group dynamics, and personal interactions that can have a positive or negative influence on both the presenter and audience.
44
Pre Planning or Planning? - Conduct a situation analysis - Strategize the destination (vision) in mind
Planning
45
Pre Planning or Planning? | Who's going to be involved?
Pre-planning
46
T/F Plans should be Static
FALSE: should not be static but flexible - planning is not a substitute for action - plans are only as good as the information going in
47
____ is the most critical step in business planning
develop financial projections
48
4 Key Functions of Planning Process?
- organizing - leading - planning - controlling
49
situational analysis
assess the situation and establish goals

Pharmacy Management (P1 Spring) (11 decks)

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