Financial Management of Pharmacies in the City of Cabanatuan, Philippines

Abstract

This research was made to determine the effectiveness of selected small-scale pharmacy store owners in Cabanatuan City, Philippines in terms of their financial management that will focus on cash and accounts payable management. It involved 16 small-scale pharmacy businesses operating near the government hospitals in Cabanatuan City such as Dr. Paulino J. Garcia Memorial Research Center, Manuel V. Gallego, Cabanatuan City Hospital, and Eduardo L. Joson Provincial Hospital. These Small-Scale Pharmacy Business includes sole proprietorships and partnership type of business, Other pharmacy stores located in the same area were not included because they belong to the corporate type of business. The outcome of this research will be useful and valuable to the Small-Scale Pharmacy Store owners and it will provide necessary pieces of information about management styles which could be of significant help to the small-scale pharmacy store owners. It can also help them to be more efficient in handling their cash and accounts payable through the help of the recommendation by the researcher. To the Product Suppliers, the outcome of this study will be helpful to the suppliers of different small-scale pharmacy stores in the matter of mode of payment and incentives given to the owners which are most important to motivate them to sell more. To the Investors, the results of this study can help investors who want to have a small-scale pharmacy store in terms of cash and payable handling and dealing with problems that their business might encounter. To the Philippine Economy, the results of this study will strengthen and back up the economy of the Country. Since the study aims to evaluate the business profile of the small-scale pharmacy store owners including managing their working capital, it also includes the evaluation of the competitiveness of their business. This only means that the study wishes to find out more about the nature of the existence of the said enterprises as well as their relationship to their suppliers and customers. Lastly, this will also be beneficial to future researchers to draw pertinent results to their studies. The researcher also wishes to evaluate the literacy of selected small-scale pharmacy businesses within the City of Cabanatuan, Philippines along with the areas of cash management and accounts payable management using the descriptive method of research.