Resource-based theory of competitive advantage - a framework for pharmacy practice innovation research

Perspectives on the pharmacist's "product": a narrative review

Clarity about the pharmacist’s “product” is fundamental to developing and communicating the value of pharmacy offerings. It is clear within the profession that pharmacists use their scope of knowledge and technical skills to address medication-related needs of individuals and populations. However, confusion still remains in the professional and public literature about what a pharmacist precisely produces for society. Is it a drug, service, program, solution, or something else? As the profession evolves from one that focuses on dispensing drugs to a profession that seeks to achieve positive patient health outcomes, pharmacists need to better conceptualize and articulate what they produce. This narrative review explores ideas from the marketing, business strategy, and entrepreneurship literature to discuss diverse perspectives on the pharmacist’s product. The four perspectives are the product as (1) a tangible product, (2) an intangible service, (3) a “smart, connected” good or service, and (4) a solution to a customer problem in whatever form provided. Based upon these perspectives, the pharmacist’s product can be any combination of tangible or intangible, face-to-face or virtual offering produced by pharmacists that seeks to satisfy medication-related needs and wants of pharmacy patients and customers. Ideas discussed in this review include the total product concept, classification schemes from the services marketing literature, the theory of service-dominant logic, the concepts of “smart, connected” products and industrialized intimacy, and the jobs-to-be-done framework. These various perspectives offer lessons for pharmacists on how to innovate when serving patients and customers and to communicate the pharmacist’s value proposition to the people they serve.

Point-of-care testing in pharmacies-An evaluation of the service from the lens of resource-based theory of competitive advantage

BACKGROUND

Point-of-care tests (POCTs) are innovative services that are increasingly offered in community pharmacies. Assessments of these services should consider their financial sustainability in addition to their effectiveness if they are to be successful over time in a competitive environment.

OBJECTIVES

The aim of this research was to review and evaluate the POCT practice innovations literature through the lens of the resource-based theory (RBT) of competitive advantage.

DATA SOURCES

Articles describing POCT services were identified systematically through PubMed, exclusively.

STUDY SELECTION

All POCT articles in the review met the following inclusion criteria: (1) articles were published after 1999; (2) interventions were pharmacist-led innovations within a community pharmacy; (3) articles described research studies with results; and (4) articles were published in English, Spanish, or Portuguese.

DATA EXTRACTION

The RBT was operationalized using a strengths, weaknesses, opportunities, threats matrix and a business model canvas, which were employed to extract and analyze data. Articles were assessed according to the degree to which they articulated elements that the RBT needed to assess their financial sustainability in targeted markets.

RESULTS

A total of 36 articles describing POCTs and associated services were included in this review. Most of the studies reported aspects pertaining to the contextual environment of the innovation, value proposition, key activities, partners, and channels of distribution. However, the competitive dimension of the environment, as well as the cost structure and revenue streams, were often neglected in the studies.

CONCLUSIONS

The RBT is a widely tested framework that can be used for planning and reporting POCT practice innovations. On the basis of this framework, pharmacists seem to do a good job in describing how to provide POCT but fall short in explaining how these services are sustainable over time.

Linking knowledge management to competitive strategies of knowledge-based SMEs

Purpose

This paper aims to study the effect of knowledge management in formulating competitive strategies for knowledge-based small- and medium-sized enterprises (SMEs) in Malaysia.

Design/methodology/approach

A quantitative approach of a survey was carried out on 135 owners and managers of knowledge-based SMEs in Malaysia. Structural equation modeling technique was used to investigate the relationship between knowledge management and competitive strategies. SmartPLS software is used to analyze the quantitative data. Only SMEs which are involved in R&D and innovation were selected to get the right respondents who meet the objective of the study.

Findings

The findings show mixed results. Most dimensions of knowledge management have significant relationships to differentiation strategy except for knowledge creation and knowledge acquisition, with only knowledge acquisition showing a significant relationship to cost leadership. Findings reveal that knowledge management has a positive effect on competitive strategies with more inclination toward differentiation strategy, compared to cost leadership strategy which does synchronize with their commitment in research and development and innovation.

Research limitations/implications

This study is only focused on knowledge-based SMEs in central Malaysia. Second, the use of a survey approach minimized the flow of information.

Practical implications

SMEs do have knowledge management practices but may not be exploiting it well. Mapping knowledge management practices would help SMEs identify their strengths and weaknesses to explore better business opportunities. This proves that SMEs are leveraging their resources through knowledge application, dissemination, storage and protection to be different than their competitors. However, their apparent lack of knowledge in knowledge acquisition and knowledge creation should be addressed accordingly, as it is important for their future continuous sustainability.

Originality/value

This paper contributes to the literature of knowledge management relating to competitive strategies in SMEs. The study offers insights on how competitive strategies were formulated through knowledge management. The mixed results reveal a new different outlook of knowledge management relating to competitive strategies.

Using Service Blueprints to Visualize Pharmacy Innovations

Background: Applying the principles of service design can help pharmacists manage both the quality and patient perceptions of the services they provide. Service blueprints are a widely used service design tool that are rare in the healthcare literature. They can be used to design new services or revisit the design of established services. This paper describes service blueprints and their uses, and illustrates how to build one using an example. Methods: A blueprint is built for appointment-based medication synchronization services to illustrate the tool. Conclusions: Service blueprints permit pharmacists to better see and understand service processes. They clarify the process of service delivery and the roles of customers, service providers, and supporting services. They provide a way of depicting complex services in a concise visual way that communicates details at a glance. Pharmacists who utilize service blueprints can improve the consistency and quality of services provided, and they can increase the chance that every interaction with patients sends a positive message about the value of pharmacist services.