The document discusses the basics of economics and pharmaceutical management, covering types of economic activities and systems alongside management levels and functions. It highlights the limitations of economics as a study of human activities focused on money and emphasizes the importance of effective management in optimizing resource utilization and achieving business objectives. Overall, it presents management as both an art and science essential for organizing and directing human efforts within various business operations.

1. ECONOMICS,
PHARMACEUTICAL
MANAGEMENT
Presented By:
Mr. S.M. Ambore
Asst. Professor,
DK Patil Institute of Pharmacy, Loha. Nanded

2. LEARNING OUTCOMES….
ECONOMICS
TYPES OF - ECONOMIC ACTIVITIES
TYPES OF - ECONOMIC SYSTEM
LIMITATIONS OF ECONOMICS
PHARMACEUTICAL MANAGEMENT
LEVELS OF MANAGEMENT
FUNCTIONS OF MANAGEMENT
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 Word derived from two Greek word –
oikos (household)
Nemein (management).
 Economics means management of household.
 To understand the elements of economics following aspects
of economics may be taken into consideration:
 Economic activities.
 Economic system.
ECONOMICS

4. TYPES OF - ECONOMIC ACTIVITIES
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It is classified into three groups such as,
1. Business.
2. Profession.
3. Employment.

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TYPES OF ECONOMIC SYSTEM
1. Capitalist system.
2. Social system.
3. Mixed system.

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LIMITATIONS OF ECONOMICS
1. It is not complete study of all human activities. Only those
activities which are concerned with money are studied.
2. It studies the activities of only those human beings who are
members of society.
3. It studies the real activities of human beings and not the
fictitious one.
4. It is a measuring rod lacks accuracy. So, It cannot measure
accurately the human motives.

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PHARMACEUTICAL MANAGEMENT
Management: The process of conducting and
managing various business activities.
Management is art and science of organizing
and directing human efforts to control forces and
utilize materials of nature.

8. 1. Top level management
2. Middle level Management
3. Lower level Management
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LEVELS OF MANAGEMENT

9. TOP LEVEL MANAGEMENT
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Generally it performs following functions:
1. Laying down the overall objectives and broad
policies of enterprise.
2. Organizing the business into various department
and divisions.
3. Appointing department managers.
4. Issuing guidelines for the heads of department.
5. Coordinating work of different departments.
6. Reviewing work of department and taking steps
to ensure achievement of objects.
7. Making plans for long term stability of business.

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MIDDLE LEVEL MANAGEMENT
1. It consists of head of the department.
2. They are responsible to top management.
3. In big industries there will be senior & junior level
management
4. In small scale industries there is generally only
one level of middle level management.

11. LOWER LEVEL MANAGEMENT
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1. It is also known as Supervisory management
2. They includes supervisors, foremen,
superintendents, sales officer, account officer
3. They provide instructions for day to day activities.
4. They also put forth problems of workers to
superior authorities.

12. IMPORTANCE OF MANAGEMENT
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1. It helps in optimum utilization of all types of
resources for more profit.
2. It helps to increase proficiency in handling
business.
3. It utilize talented persons to achieve target.
4. It coordinate in changing scenario.
5. It works on modulation of new products.
6. It helps to maintain discipline.

13. MANAGEMENT
Planning
Organizing
Staffing
Directing
Controlling
Coordinating
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