Entrepreneurship scenario after Pharmacy Education_Essay by Abinash Samantray

Entrepreneurship scenario after Pharmacy Education

"If you can't run,you crawl.If you can't crawl you find someone". This is somewhat the modern day scenario after the pharmacy education,but its better to risk on someone rather on you yourself-ENTREPRENEURSHIP

The willingness to develop, organise and manage a business with risks along with profit called startups or new business.

But the question arises what about pharma entrepreneurs??

Is it like adding sugar into water to make it sweet or is it making sugar from sugar solution??

Are the pharma entrepreneurs coming under the coordinates of x,y,z axis or not?

In my opinion its NO.

When we talk about entrepreneurship suddenly Steve jobs,Bill Gates,Walt disney comes into our mind,why?

The weakest trend in pharma is being an entrepreneurship in student point of view,but still many success stories lies beneath this.

Here comes a name Dilip Shangvi, the founder of Sun Pharmaceuticals who was in spotlight for becoming the richest man in our country beating The Ambani's. Even if the scenario is worst for pharma entrepreneurs but still there is a way. Pharma personels much more prefer finding someone rather than being someone in todays time,and if it is the case of odisha about entrepreneurs then atleast you shouldn't think about it.

Why do they fail?being an entrepreneurs startups, according to research ,83% of all new pharmacies go out of business within an average of 2.4years.

But why do all these indivisual setting up new pharmacies in pursuit of their dreams?

The answers are multifaceted,as you will discover when you answer the questions:

* How much about business and marketing did we learn in pharmacy school?

* Did we really choose the right location for our pharmacy?

* Did we have the right amount of money,especially to weather the first few months of underacheivement before you passed the break-even point?

* Did we have the right quantitative markrtting to do the job?

Its a shame to see that all those of yearning to own pharmacy go down the drain with a lifetime of savings,but its completely avoidable. Marketing is the only element of pharmacy business that creates significant results because everything else is just a cost.

so to build an Empire and to become an entrepreneur is somewhat like you shoud have a strong financial background which we all young generation people dont prefer to have

rather to join in a company and earn='finding someone'

Thinking in deep that if we become an entrepreneur taking risks and also aiming for profit is equivalent to that joining a company ,they too have equal risk of getting thrown out of a company. Presently there are less success stories...so People take precautions by not joining this.

The people who starts a new business in this stories should have a word -INNOVATION that we lack.Innovation is an independent word that we all need so as to join our names in the success stories of entrepreneurs.Innovation is a key component of the pharmaceutical industry and biomedical research.Every drug or medicinal product developed and released

to the market stems from an intellectual curiousity that requires a proof of concept spanning years.

As said by Venkataraman - Entrepreneurship as a scholarly field ...seeking to understand how opportunities to bring into existence future good and services are dicovered,created'

and exploited by whom and with what consequences.

In modern economic climate,entrepreneurship or possessing entrepreneurial spirit is critical for driving innovation and creating a prosperous society. Its concepts have been embraced by the wider public in recent years,underlined by the success of the BBC.

The General Pharmaceutical Council should be responsible for the accreditation of the master of pharmacy students enabling to demonstrate skills relating to research and development activities to improve health outcomes so that the students could foster innovating ideas by basic applying research that could lead to setting up different platfoms for the entrepreneurs.

The roles of entrepreneurs in pharmaceutical business is also somewhat different it should go in a better way so that the outcomes should be positive.like;

-A vision of pharmacy practice as articulated in joint Commision of pharmacy Practioners

"Pharmacists will be the healthcare proffesionals responsible for providing patient care that ensure optimal medication therapy outcomes"

The mission of the proffesion of pharmacy is to improve public health through ensuring safe ,effective and appropirate use of medications.

Some areas that the pharma entrepreneur should also look upoun-Pharmacovigilance,Evidence baased pharmacy,self medication,clinical pharmacy,Quality assurance of pharmceutical care services.

Every budding entrepreneurs should not be down to earth they should be inspired by the the socio economic lifestyle of the top pharma preneurs like - Yk Hammied who is the founder of the top company Cipla,Kalam Anji Reddy who is the founder of Dr.Reddys laboratories and we should not forget another man who is ageing 89 and is the top most pharmapreneurs from alkem laboratories-Dr.Samprada Singh. We all should be deeply moved by there ideas and innovation so that we too can prepare ourselves as well as for future people intrested for entrepreneurship...because truly speaking first of all we dont know paticularly what entrepreneurship is??

The ideas are the tools that entrepreneurs should use to create business venture....the pharma sector should not force the entrepreneurship as the weakest trend.

Last but not the least Entrepreneurship means not to develop a drug molecule in campus in four years.It means to make students able to generate jobs not for themselves but for others too.

and as said by Dilip Shangvi...Innovation requires a novel approach to scientific problem solving,higher level of resource commitments over much longer time duration