PHARMACEUTICAL

MANAGEMENT & MARKETING

Pharmaceutical management and marketing courses are added to educational

programs to equip individuals with the specialized knowledge and skills needed to
succeed in the pharmaceutical industry, particularly in roles focused on managing
and promoting pharmaceutical products. These courses address the unique
challenges and opportunities of the pharmaceutical business, including regulatory
complexities, market dynamics, and the importance of effective communication
with healthcare professionals and patients.
Reasons may include;
 Industry-Specific Knowledge:
These courses delve into the specific aspects of pharmaceutical marketing and
management, such as regulatory affairs, market research, and the role of healthcare
professionals in influencing product adoption.
 Career Advancement:
They provide a pathway to leadership and management positions within the
pharmaceutical industry, including roles in sales, marketing, operations, and
regulatory affairs.
 Business Skills:
These programs enhance business acumen by teaching essential skills like strategic
planning, financial management, and organizational behavior, which are crucial for
effective pharmaceutical management.
 Adaptability to Change:
The pharmaceutical industry is constantly evolving, and these courses ensure
students can adapt to new technologies, regulatory changes, and market trends.
 Networking Opportunities:
Many programs provide valuable networking opportunities with industry
professionals, alumni, and leaders, fostering connections that can aid career
advancement.
 Entrepreneurial Opportunities:
For those interested in starting their own businesses in healthcare, these courses
provide a strong foundation in business principles and the pharmaceutical market.

INTRODUCTION
 Originally the word Management came from a Latin word “MANUS” which
refers to ‘driver’ controlling a team horses pulling a cart or chariot by
manipulating the reins.
 Simple and useful working definition of management is:
The achievement of objectives through other people.
 Recent definition of management is:
The management can be defined as the process of achieving organizational
goals through
 Analyzing
 Planning
 Organization
 Leading and controlling
Human, physical, financial and information resources of the organization in
effective and efficient manner.
 Management is an art:
Because it involves some personal skills.
 Management is science:
Because it is a field of knowledge, that can systematically explain why and
how people work together, courses and effects of actions can be studied can
categorized.
 Management is profession:
 Because general principles are used as objectives and standards of
performance.
 Management overlaps with several common words like:
 Supervision
 Leadership
 Organization
 Administration

DIFFERENCE BETWEEN MANAGEMENT AND ADMINISTRATION

Administration Management

Definition
Administration involves setting up of objectives, Management is an act that brings administrative
develop crucial policies of every organization. objectives, plans and policies into practice.

Function

Determinative function Executive function

Decisions
Administration makes important decisions of an Management makes decisions within its confines
enterprise in its entirety. of framework, which is setup by administration.

Level
Top level activity Middle level activity

Status

If someone has to decide the status or Management consists of group of managerial

position of administration, one will find persons, who leverage their specialist skills to
that it consists of Owner who invests the fulfil the objectives of an organization.
capital and receive profits from an organization (Group of people)
 Shaping of decisions
The decisions of administration are shaped by Management decisions are shaped by values,
public opinions, government policies and social opinions and beliefs of who manages.
and religious factors.

Types of abilities
Administration requires administrative qualities In management, technical abilities and human
rather than technical qualities. relation management abilities are important.

FUNCTIONS OF MANAGEMENT

1. PLANNING
Includes defining goals, establishing strategy, and developing plans to coordinate
activities. Also requires knowledge to create, develop & analyze opportunities in
present as well as in future.
Types:
 Long run planning
 Short range planning

Example: A marketing manager planning a new product launch would set clear
objectives, conduct market research, and develop a pricing strategy, campaign
timeline, and resource allocation plan.
2. ORGANIZING
 Determining:
 What task has to be done?
 Who is to do them?
 How the tasks are to be grouped
  Who reports to whom?
 Where decisions are to be made?
Example: A project manager organizing a software development project would
define task relationships, build a team, and assign tasks to different developers
based on their skills and expertise.

3. LEADING
 Includes:

 Motivating employees, Directing others

 Selecting the most effective communication channel
 Resolving conflicts.
Example:
A sales manager leading a sales team would motivate employees by setting sales
targets, providing training and support, and recognizing successful performers.

4. STAFFING
 Involves developing of qualified people in the various jobs in the
organization. Needs constant reconsideration similar to planning.

 Also includes:
 Manpower requirements
 Appraisal and selection of candidates for position.
 Training and development of both- candidates and incumbents on the job in
order to improve their capability and potentiality.

Example:
 A company may provide training programs to improve employee skills, like
a sales team receiving training on a new product.
 Performance evaluations can be used to assess employee progress towards
goals and provide feedback for improvement.
5. CONTROLLING
 Monitoring activities to ensure objectives are achieved as planned and
correcting any significant deviations.
Example:
 A company might track sales figures, customer satisfaction ratings, and
other key performance indicators (KPIs) to monitor progress towards goals
 If sales are below target, the company might take corrective action, such as
offering a promotion or making changes to the sales strategy.

6. COORDINATION
 Achievement of harmony of individual efforts towards the accomplishment
of organizational goals.
Example:
A company is launching a new product, and the marketing, sales, and
production teams need to work together to ensure a successful launch.

NATURE AND PRINCIPLES OF MANAGEMENT

NATURE OF MANAGEMENT
1. UNIVERSALITY OF MANAGEMENT
 Principles of management are universal in the sense that these can be applied
in different situations.
E.g. business, government, military, hospitals.
2. DYNAMIC NATURE OF PRINCIPLES
 Principles of management are not rigid or static. Rather they change with
environment.
Example: A company adjusts its marketing strategy in response to changes
in consumer behavior and market trends.
3. SOCIAL PROCESS
 Management is done by people, through people and for people. It is social
process because it is concerned with interpersonal relations.

4. MULTIDISCIPLINARY
 Management has to deal with human behavior under dynamic conditions.
Therefore, it depends upon wide knowledge derived from several disciplines
like sociology, psychology, economics etc.

Example: A manager uses psychological principles to motivate employees,

while also applying economic principles to make financial decisions.

PRINCIPLES OF MANAGEMENT
Henry Fayol (1841-1925), a French industrialist suggested the following 14
principles of management in order to make the job of managing more effective:

1. DIVISION OF WORK

 Divide work into smaller tasks to increase efficiency and productivity.

 Specialization allows the individual to build up experience, and to
continuously improve his skills. Thereby he can be more productive.

2. AUTHORITY
  Clearly define authority and responsibility to avoid confusion and
overlapping work.

3. DISCIPLINE
 Employees must obey, but this is two-sided: employees will only obey
orders if management play their part by providing good leadership.

4. UNITY OF COMMAND
 Each worker should have only one boss with no other conflicting lines of
command.

5. UNITY OF DIRECTION
 People engaged in the same kind of activities must have the same objectives
in a single plan.

6. SUBORDINATION OF INDIVIDUAL INTEREST

 The interests of the organization should take precedence over individual
interests
 Management must see that the goals of the firms are always paramount.

7. REMUNERATION
 Payment is an important motivator although by analyzing a number of
possibilities.

8. CENTRALIZATION (OR DECENTRALIZATION)

 This is a matter of degree depending on the condition of the business and the
quality of its personnel.
9. SCALAR CHAIN (LINE OF AUTHORITY)
 A hierarchy necessary for unity of direction.
 Scalar chain refers to the number of levels in the hierarchy from the
ultimate authority to the lowest level in the organization.

10. ORDER
 Establish a clear and consistent system for managing resources and activities
Example: A company establishes a system for managing inventory and supplies to
ensure that materials are available when needed.

11. EQUITY
 In running a business a ‘combination of kindliness and justice’ is needed.
Treating employees well is important to achieve equity.

12. STABILITY OF TENURE OF PERSONNEL

 Employees work better if job security and career progress are assured to
them.

13. INITIATIVE
 Allowing all personnel to show their initiative in some way is a source of
strength for the organization.

14. ESPRIT DE CORPS

 Management must foster the morale of its employees. Real talent is needed
to coordinate effort, encourage keenness, use each person’s abilities, and
reward each one’s merit without arousing possible jealousies and disturbing
harmonious relations.