Business plan for Lemish Pharmacy

Date
2020-05
Authors
Okpoti-Paulo, Priscilla Vera
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Abstract
Lemish Pharmacy is a pharmaceutical company that focuses on administering drugs to people in need of it and offering counselling to patients in one medical situation or the other. The company has 2 employees who attend to customers and suppliers during the day and in the evenings. There are several problems that the company is facing but the main cause is that they lack a business plan that would guide their operations and help in better decision making. The lack of a business plan has made investment, expansion and financial performance ineffective. Research from interviews reveal that the company has the potential to perform better as most customers are generally satisfied with the customer service of the company. Employees and suppliers are able to relate on good terms. It was also found out that the company’s main problem has led to the development of other problems. Literature from professionals also show that companies that have a business plan can structure their operations, develop strategies towards value creation and profitability as well as plan for the future. With a business plan, Lemish Pharmacy can become more effective in running its operations, dealing with suppliers and other business partners as well as gaining competitive edge over other community pharmacies. The business plan incorporates aspects of a business that are crucial to running a profitable business. With patience, drive and focus, Lemish Pharmacy can perform better than it currently is performing.
Description
Applied project submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2020
Keywords
business plan, needs assessment, community pharmacy, SME
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