Principles of Veterinary Business

What is meant by context?

What are the 3 types of context?

What is the internal environment?

What is the near external environment?

What is the importance of the relationship of a veterinary practice with its suppliers?

What is the role of the veterinary practice manager/owner in terms of the near external environment?

Why is it beneficial for a veterinary practice to have a good relationship with the local community?

Define a stakeholder in a veterinary practice

What are the 5 main factors in the far external environment?

Give 2 examples of sociological factors that affect veterinary practices

Give 3 examples of technological factors that affect veterinary practices

What is the difference between disposable and discretionary income?

Give 4 examples of environmental factors that affect veterinary practices

Give 5 examples of political/legal factors that affect veterinary practices

What are the 3 types of veterinary business?

What is a sole principal veterinary practice?

What is the legal identity of sole principal veterinary practices?

What is a partnership?

What is meant by joint and several liability within a traditional partnership?

What is meant by a Limited Liability Partnership?

What are the 2 possible legal identities of a partnership?

What is a Joint Venture partnership?

What is the legal identity of Joint Venture partnerships?

What is meant by a limited company?

What is the difference between a public and private limited company?

What is meant by a cooperative veterinary practice?

What is the legal identity of not-for-profit veterinary practices?

How is practice income usually measured?

Give 6 examples of direct costs for a veterinary practice

What are overheads?

Give the equation to calculate gross profit

Give the equation to calculate net profit

How is return on investment calculated?

How is average transaction fee calculated?

How can average transaction fee be increased?

How is average transaction volume calculated?

How can average transaction volume be increased?