Study Guide: Pharmacy Administration And Practice
Pharmacy Administration and Practice 2
Study guide P
erformance Management
for the continuous improvement of People & Organizations
Performance Management
Organizations 1: Organizations - their Structure and Environment 2: Ownership of organizations
Management and Leadership 3: Managing organizations successfully
Strategic Management 4: Formulating strategy 5: Implementing strategy 6: Operational Management …show more content…
Limited liability
9. Utmost good faith
10. Legal persona
11. Perpetual succession
12.
Complete the following tasks
1. Explain the three problems that gave rise to the evolution of different forms of ownership?
2. Explain what is meant by the phrases (personally and fully liable(, (joint and several liability( and (limited liability( when discussing different forms of ownership?
3. In what way is lack of continuity a problem with sole proprietors and partnership and how is this problem overcome with close corporations?
1. In what way has the introduction of the Close Corporation altered the personal risk of ownership when compared with the personal risk of partners?
2. What is the meaning of utmost good faith in the context of a partnership?
3. To what extent is utmost good faith required in a Close Corporation and how might this influence the success of this form of ownership?
4. Why is a partnership automatically terminated when there is a change in membership?
5. Compare the different forms of business ownership using the following chart. When you have finished, decide which form of ownership is most appropriate for a community pharmacy, a pharmacotherapy consultant, a pharmaceutical manufacturing organization and explain the reasons for your …show more content…
Discuss the evolution of the different forms of business ownership with particular reference to their impact on the personal & business risk of owners and the financial needs of the business.
2. You have been offered the opportunity of a partnership with your employers. The senior partner intends retiring within 2 years and expects you to take over the management of the pharmacy. You are keen to pursue the option provided the partnership is converted to a close corporation. Write a letter to the partners which convincingly motivates the arguments in favour of this form of ownership.
3. You are the junior member of a retail pharmacy partnership. You plan to convince your two older colleagues that the partnership should be dissolved and a close corporation formed in its place. What arguments would you use to obtain their support? How would you attempt to overcome their possible resistance to this change?
4. Compare and contrast a partnership and a close corporation as effective forms of business ownership for pharmacists in a turbulent
Study guide P
erformance Management
for the continuous improvement of People & Organizations
Performance Management
Organizations 1: Organizations - their Structure and Environment 2: Ownership of organizations
Management and Leadership 3: Managing organizations successfully
Strategic Management 4: Formulating strategy 5: Implementing strategy 6: Operational Management …show more content…
Limited liability
9. Utmost good faith
10. Legal persona
11. Perpetual succession
12.
Complete the following tasks
1. Explain the three problems that gave rise to the evolution of different forms of ownership?
2. Explain what is meant by the phrases (personally and fully liable(, (joint and several liability( and (limited liability( when discussing different forms of ownership?
3. In what way is lack of continuity a problem with sole proprietors and partnership and how is this problem overcome with close corporations?
1. In what way has the introduction of the Close Corporation altered the personal risk of ownership when compared with the personal risk of partners?
2. What is the meaning of utmost good faith in the context of a partnership?
3. To what extent is utmost good faith required in a Close Corporation and how might this influence the success of this form of ownership?
4. Why is a partnership automatically terminated when there is a change in membership?
5. Compare the different forms of business ownership using the following chart. When you have finished, decide which form of ownership is most appropriate for a community pharmacy, a pharmacotherapy consultant, a pharmaceutical manufacturing organization and explain the reasons for your …show more content…
Discuss the evolution of the different forms of business ownership with particular reference to their impact on the personal & business risk of owners and the financial needs of the business.
2. You have been offered the opportunity of a partnership with your employers. The senior partner intends retiring within 2 years and expects you to take over the management of the pharmacy. You are keen to pursue the option provided the partnership is converted to a close corporation. Write a letter to the partners which convincingly motivates the arguments in favour of this form of ownership.
3. You are the junior member of a retail pharmacy partnership. You plan to convince your two older colleagues that the partnership should be dissolved and a close corporation formed in its place. What arguments would you use to obtain their support? How would you attempt to overcome their possible resistance to this change?
4. Compare and contrast a partnership and a close corporation as effective forms of business ownership for pharmacists in a turbulent