Coca-Cola, Gatorade, Dr. Pepper, Wrigley’s chewing gum: What do these products all have in common? The answer: Pharmacists developed or contributed to the development of each of these products, and with the exception of possibly Dr. Pepper, the pharmacists involved did not realize the potential of the products they developed.
Of course, some pharmacists have successfully developed products and businesses. A quick environmental scan of names on pharmacy school buildings will easily identify many success stories. Still, the examples of missed opportunities these products give us and the length of time since they were created should cause those within the pharmacy environment to question, “Where is entrepreneurship in pharmacy, and how can it be used to advance the profession.” Additionally, where are the examples of pharmacists innovating to advance the profession or to create value for patients? There is often criticism of various aspects of the profession, including chain pharmacy, pharmacy education, and pharmacists who choose to focus on the traditional, well-established aspect of pharmacy—dispensing, but what is the core issue holding back innovation?
I believe one of the main inhibitors of innovation is a market driven to high salaries for pharmacists. Pharmacists have chosen to become dispensers mostly because of human nature. It is the path of least resistance and it offers the highest rewards. It is comfortable, and therefore there is no pressing need to pursue innovations. At the same time, many pharmacies of all types, whose managers and owners should be motivated to innovate because of lowering profit margins, struggle to implement new programs focused on patient care, at least in some cases, because the business cannot afford to compensate a pharmacist to deliver care that is not being paid for. For the few businesses/pharmacies pursuing innovation, payroll is a major factor.
Examining the principles of entrepreneurship and leadership can provide an understanding of how these concepts can provide a method for the profession to distinguish itself and add value to society. Combining these concepts enables us to establish a definition of “entrepreneurial leadership” that can be used to advance the profession.
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