INNOVATION PHARMACY BUSINESS MANAGEMENT

Abstract

The objectives of this research were to 1) Identify and analyze problems and obstacles faced by modern pharmacy businesses 2) Determine management methods for modern pharmacy businesses and 3) Propose an innovative management model for modern pharmacy businesses. This qualitative research involved 20 key informants selected through purposive sampling. All informants were experts related to the pharmacy business comprising 7 government officials 1 president of the Modern Pharmacy Association and 12 modern pharmacy business owners. Data collection employed in-depth interviews using structured interview guides to gather information about operational results. In-depth interviews were used to collaboratively analyze problems and management methods, aiming to develop innovative management practices for modern pharmacy businesses. The collected data were then subjected to thematic and content analysis. The research findings revealed that modern pharmacy businesses face several problems and obstacles, including 1) Competition 2) Capital acquisition 3) Inventory management
4) Pharmacist-related issues and 5) Legal concerns. In developing business management methods entrepreneurs have incorporated certain technologies into their business management, particularly in finance, inventory management, and medication management. However marketing management and pharmacist management in modern pharmacies have not yet adopted new methods. Notably social media (Facebook Line) is used as an easy tool to reach customers quickly and extensively. The adoption of digital marketing would help target customer groups more precisely and effectively increasing sales and improving customer relationships. This approach could better respond to customer needs.