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Marketing Focus: 1. Dunning Kruger Effect 2. Modern Retailing 3. A Sustainable World
That explains a lot! Australian Labor Party (ALP) political heavy-weights Bill Shorten, Tanya Plibersek, and Penny Wong appear to have at least one thing in common. They each exhibit the characteristics of the Dunning-Kruger Effect. It is not an affliction that is limited to politicians and politics. Some business owners and marketers (along with their entities,…
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Do You Have Disaster Recovery Plan For Your Business?
Most business owners are optimists! That is why they went into business in the first place. However, being optimists, many business owners don’t consider the risks that can threaten the very existence of their business, and as such, their own and their employees’ financial well being. The purpose of this blog post is to get…
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Pharmacy Nemesis Roger Corbett – Back to the Future
Influential shareholders of Woolworths are seeking to invite Roger Corbett, the nemesis of Australian pharmacy, back into the fold as chairman. They say: “Woolworths needs a circuit breaker. Given the way Woolworths has lost direction and given the loss of shareholder value, there needs to be accountability – what’s needed is a circuit breaker to sort out the…
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“Miswanting” –A relevant word for the pharmacy profession
Recently, I stumbled over an unusual word that I have now added to my vocabulary. That word was “miswanting” – a rather poignant word from the world of psychology. It is a word used to describe the human tendency to desire things that make us unhappy, and to shun things that fulfill us. Psychologists have…
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The four rules of customer engagement in pharmacy
In the face of today’s ruthless challenges, that are happening at the speed of light, pharmacies have had to impulsively adapt in order to reduce their losses. Napoleon was asked why he was viewed as such a great strategist. His said, “We engage and then we see.” Sadly, most pharmacy teams are disengaged from their…
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For long-term success, give up these detrimental traits
Success isn’t always about dominating the landscape. Sometimes, to be successful, you have to be prepared to give up some counterproductive behaviors that are holding you back – and you may not even realize you’re guilty. Old habits are hard to break. And if you don’t even realize that you are practicing some of these…
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PBS Co-Pays…Come out Swinging!
When something does not make sense and defies commonsense and logic- then it is political. The decision to enable pharmacists to discount the PBS co-pay by up to $1.00 is one such decision. The logic is that it will create more competition, but the reality is that it will cause erosion to the profit base…
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The Tipping Point for PBS Has Arrived
The tipping point is the point at which a dominant technology or player defines the standard for an industry-resulting in “winner-take-all” economies of scale and scope. It is generally disruptive in nature. The tipping point is the critical point in an evolving situation that leads to a new and irreversible development. The term is said…
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MinuteClinic hits 25 million patient visit milestone
CVS Health’s MinuteClinic has surpassed 25 million patient visits since opening the nation’s first retail clinic in 2000, the company announced on Tuesday. This is the future of Australian pharmacy as well, if pharmacy leaders can get their act into gear. But why wait for that to happen? Surely progressive Australian pharmacy owners can venture…
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The Global Trend in Working Environments: Co-working & Retail Clinics
I2P has been researching the concept of a “freelance” clinical pharmacist for some years now. As we are normally about 5-10 years projected in our “over-the-horizon” thinking, it is not surprising that the trend has not yet become fully obvious within the pharmacy profession. Pharmacy culture is only just transitioning from a dispensary presentation to…