**5. Discussion and implications**

8 A Bird's-Eye View of Veterinary Medicine

that are both cost-effective and aligned with the needs of the individual veterinary business within which they work (Lowe, 2009: 55). Similar calls have been made for the inclusion of such business and management training in North America (Ilgen, 2002; Kogen et al., 2005). Currently, where business and management topics are included in the veterinary curriculum, they tend to be incorporated under the banner of 'Professional Studies', a strand of education running though most veterinary degrees, which, as its label suggests, covers the professional behaviour aspects of veterinary medicine. This strand typically includes the non-clinical skills and abilities associated with working as a veterinary professional, thus, communications, legal and ethical considerations, insurance, veterinary certification and compliance issues, all form part of this element of the programme. With particular regard to business and management, a range of topics are taught, including enterprising skills and abilities (i.e. creativity and idea generation), practice management (i.e. marketing, finance and human resource management for existing veterinary practices) and entrepreneurship (i.e. new venture creation or the development of a new service/clinic within the veterinary practice sector). Indeed, there appears to be growing recognition that any type of entrepreneurship education can be extremely beneficial for students regardless of their discipline area. Such education not only prepares individuals for starting new businesses but, in increasingly competitive environments, equips students with the knowledge, skills and competences to engage in a more enterprising, innovative and flexible manner (Hynes & Richardson, 2007: 733), preparing them for a world where they will increasingly need to manage their own careers in an entrepreneurial way (Hytti & O'Gorman, 2004: 11-12) and

Notwithstanding the above, the incorporation of business education, including entrepreneurship education, within veterinary curricula is still relatively new, despite the long-standing recognition that the provision of business skills will benefit both veterinary graduates and employers. However, the typical positioning of business topics within the professional studies strand of the veterinary curriculum has been somewhat problematic, with anecdotal evidence suggesting that such non-clinical topics tend to be viewed by students as peripheral rather than core. While this is, to some degree, understandable, given the already overcrowded veterinary curriculum, it does pose a number of problems for veterinary business educators tasked with preparing students for the competitive business

While pedagogical approaches to veterinary education will vary from provider to provider, most veterinary schools tend to employ a combination of formal lectures, directed learning sessions, tutorials, practicals and case-based learning (QAA, 2002), with assessment methodologies ranging from multiple-choice questions (MCQs) through to portfolios and objective structured clinical examinations (OSCEs) (Baillie and Rhind, 2008). Veterinary business topics also tend to be examined in the traditional MCQ or EMQ (extended matching questions) format, however, the more practical and reflective assessment methods normally associated with mainstream business education are beginning to be introduced. While the current trend within veterinary curricula is clearly toward the inclusion rather than the exclusion of business education, it is widely acknowledged that the business curriculum is still evolving and is undergoing continuous refinement as a result of student

add value to their employers' businesses (Henry & Treanor, 2010).

environments in which they will eventually work.

feedback and industry consultation.

The changes discussed above under the three headings of the agricultural sector, the gender shift and veterinary education have significant implications for the veterinary business landscape across the broader veterinary sector, impacting beyond the practice wing of the profession. As mentioned at the outset of this chapter, to date, robust academic attention has not been paid to the implications of changes in these areas. Such implications will now be discussed under the relevant headings below.

#### **5.1 Implications of changes within the agricultural sector**

A review of the literature highlights a number of changes within the agricultural sector, all of which have a direct impact on the provision of farm animal veterinary services. In the first instance, and at the fundamental level, reduction in livestock numbers, farm holdings and farm sizes mean that there are going to be significantly fewer farm 'patients' requiring veterinary services. Although it is now recognised that farm animal veterinary practice is in decline (Lowe, 2009), there is still a substantial farming community around the globe, and thus this valuable specialist service still needs to be provided to those who require it. As a result, farm animal veterinary practices are coming under increasing pressure to review their operational business model to ensure their practice is both viable and sustainable.

In parallel, with reduced government support, a decline in income from traditional farming activities, and forced to diversify to sustain their own businesses, farmers now have less disposable income to spend on veterinary services. As a result, with regard to veterinary work, there is a growing trend toward farmers doing more for themselves rather than immediately referring work to the vet. Therefore, the average spend on veterinary services per farm holding is going to reduce. The business implications of this for rural farm animal veterinary practice are quite serious: turnover and profit margins will be affected. As a result, farm animal veterinary practices will need to revisit their operational costs to ensure the service they are offering is both viable and aligned with their clients' needs. In this regard, future veterinary graduates interested in farm animal work will need to have a thorough understanding of their clients' needs; appreciate the changes taking place within the farming sector and be able to advise farmers on the more strategic issues related to farm animal health and welfare.

It would appear too that marketing will be crucial to the survival of farm animal veterinary practice. With reduced demand for services but increased competition from existing providers, farm animal vets will need to engage more closely with their client base to determine farmers' needs, adapt their service and market it appropriately. It seems inevitable that, in the future, farmers will look for a more holistic veterinary service offering. It would appear, therefore, that in parallel with farming enterprises themselves, farm animal veterinary practices will need to explore diversification strategies if they are to remain viable from a business perspective.

#### **5.2 Implications of the gender shift**

Interestingly, the global trend towards a predominately female veterinary profession, as discussed above, has raised a number of serious concerns that will directly impact on the

The Veterinary Business Landscape: Contemporary Issues and Emerging Trends 11

levels restricting women from amassing the requisite capital to buy into a partnership or establish their own practice. This will have a direct impact on the veterinary business landscape, with potentially fewer independent practices and a continued growth in large

In contrast with the two areas discussed above, the trend in veterinary education toward the incorporation of business and management topics within the curriculum should have a significant positive impact on the veterinary business landscape. Regardless of their discipline area, graduates in the 21st century face an increasingly competitive and volatile employment market and it is critical that they are equipped with skills that enable them to maximise their full potential (HEA, 2005). Future graduates will need to have greater ownership of their employable skills and be able to cope with economic upheavals to capitalise on career opportunities (McNair, 2003, as cited in HEA, 2005:12). Universities are under pressure to demonstrate how they are enhancing graduate employability (Dearing, 1997; BIS, 2009) and, in this regard, veterinary schools are no exception. According to BIS (2009), employable skills are modern workplace skills such as team working, business awareness and communication skills; essentially, they are skills that prepare students for the world of work. Thus, interpersonal, leadership and team skills; confidence, motivation and networking skills; problem-solving and business acumen are all deemed critical to enhancing graduate employability (Hawkins, 1999). In this regard, business and management education, more specifically, entrepreneurship education will have a particularly valuable role to play in veterinary curricula in the future. Indeed, there is already evidence in the literature to show that employers recruiting postgraduates place considerable value on such skills in the context of leadership, analytical thinking, problemsolving and idea generation in addition, of course, to actual work experience (CIHE, 2010). Due to the highly competitive nature of the current veterinary business landscape, veterinary practices need to operate as viable business entities more so than ever before. Thus, veterinary graduates will need to have at least some foundation in marketing and finance. Furthermore, the new career opportunities created by the corporate sector will require entrepreneurially minded individuals who have an understanding of the broader veterinary business sector in addition to their veterinary degree. Through joint venture partnership arrangements, appropriately oriented veterinary graduates will have the opportunity to run their own business without all of the costs and risks associated with setting up a new independent practice or raising the finances required to buy into an existing partnership. If current trends in veterinary (business) education continue, then future veterinary graduates should be well equipped to not only exploit such opportunities as they emerge, but also to add value to the business dimension of all types of existing veterinary practice by helping to develop effective marketing strategies, contributing toward financial sustainability and enhancing the overall veterinary service offering. Furthermore, given that the majority of veterinary graduates take up roles within traditional practice settings, there would appear to be considerable scope for the commercialisation of research and new venture creation outside of this realm. In this regard, increasing the entrepreneurship dimension of the veterinary business curriculum

**5.3 Implications of changes within veterinary education** 

corporate structures.

will have obvious benefits.

future veterinary business landscape. Such concerns range from a potential reduction in mean salaries for veterinarians overall (as evidence from other sectors suggests that women tend to accept lower salaries), through to potential ramifications for large animal practice (as women tend to favour small, companion animal work (Lowe, 2009)). There are also fears that women will remain less likely to own practices than their male counterparts (RCVS, 2006, 2010), which may result in larger corporate chains becoming increasingly commonplace.

Rubin (2001: 1753) cites a succinct list of 'critical issues or concerns' set out by the Gender Issues Task Force (GITF), established by the National Commission on Veterinary Economic Issues (NCVEI) in 2000, as:


By way of example of the potential negative impact of the 'feminization' of the veterinary profession, Smith (2002) highlights the gender shift that has occurred in the United States since the 1980s and outlines the parallel decline in veterinarians' economic standing over that period. In a similar vein, other commentators have reported that male veterinary graduates in the USA have received more offers of employment, larger salaries and, typically, greater benefit packages than their female counterparts (Gehrke, 1997; Slater & Slater, 2000; Lincoln, 2004). Similarly, the Brakke Management and Behaviour Study conducted in the USA in 1998 showed that women earned significantly less than their male peers even when factors such as ownership status, years experience and hours worked were the same.

Similar concerns relating to reduced salaries and pay gaps between genders have been voiced in the UK. For example, the Inter-Professional Group study of 'Women Professionals in the EC' (1993) highlighted unfavourable salary trends for UK women vets (Aitken, 1994). This issue was further highlighted in the RCVS Survey of the Profession (2010), which highlighted that: "females account for 59% of those who are leaving [the profession] on grounds of pay" (RCVS, 2010: 40). Thus, the veterinary sector could face significant staff shortages in the future, with veterinary businesses unable to deliver the range of services required by their clients.

As women come to dominate the profession numerically, the lower pay they receive ultimately means that the average salary for veterinarians may fall in real terms. For women in particular, the impact is greater, with existing pay gaps and potentially lower salary levels restricting women from amassing the requisite capital to buy into a partnership or establish their own practice. This will have a direct impact on the veterinary business landscape, with potentially fewer independent practices and a continued growth in large corporate structures.

### **5.3 Implications of changes within veterinary education**

10 A Bird's-Eye View of Veterinary Medicine

future veterinary business landscape. Such concerns range from a potential reduction in mean salaries for veterinarians overall (as evidence from other sectors suggests that women tend to accept lower salaries), through to potential ramifications for large animal practice (as women tend to favour small, companion animal work (Lowe, 2009)). There are also fears that women will remain less likely to own practices than their male counterparts (RCVS, 2006, 2010), which may result in larger corporate chains becoming increasingly

Rubin (2001: 1753) cites a succinct list of 'critical issues or concerns' set out by the Gender Issues Task Force (GITF), established by the National Commission on Veterinary Economic

 Women may be less likely to own practices; may achieve practice ownership later Women may define job satisfaction more subjectively, with less objective rewards

 Women's income may be negatively influencing income levels for all veterinarians Women tend to bear more of the burden of balancing home, childcare, and eldercare

Women may be more reluctant to take on job or management responsibilities in the face

By way of example of the potential negative impact of the 'feminization' of the veterinary profession, Smith (2002) highlights the gender shift that has occurred in the United States since the 1980s and outlines the parallel decline in veterinarians' economic standing over that period. In a similar vein, other commentators have reported that male veterinary graduates in the USA have received more offers of employment, larger salaries and, typically, greater benefit packages than their female counterparts (Gehrke, 1997; Slater & Slater, 2000; Lincoln, 2004). Similarly, the Brakke Management and Behaviour Study conducted in the USA in 1998 showed that women earned significantly less than their male peers even when factors such as ownership status, years experience and hours worked were

Similar concerns relating to reduced salaries and pay gaps between genders have been voiced in the UK. For example, the Inter-Professional Group study of 'Women Professionals in the EC' (1993) highlighted unfavourable salary trends for UK women vets (Aitken, 1994). This issue was further highlighted in the RCVS Survey of the Profession (2010), which highlighted that: "females account for 59% of those who are leaving [the profession] on grounds of pay" (RCVS, 2010: 40). Thus, the veterinary sector could face significant staff shortages in the future, with veterinary businesses unable to deliver the range of services

As women come to dominate the profession numerically, the lower pay they receive ultimately means that the average salary for veterinarians may fall in real terms. For women in particular, the impact is greater, with existing pay gaps and potentially lower salary

commonplace.

the same.

required by their clients.

Issues (NCVEI) in 2000, as:

Women work fewer hours

Women's income lags that of men

 Women may price services lower than men Women's business acumen may lag that of men

of home management responsibilities.

Women may be more highly satisfied with lower income levels

responsibilities with professional responsibilities

In contrast with the two areas discussed above, the trend in veterinary education toward the incorporation of business and management topics within the curriculum should have a significant positive impact on the veterinary business landscape. Regardless of their discipline area, graduates in the 21st century face an increasingly competitive and volatile employment market and it is critical that they are equipped with skills that enable them to maximise their full potential (HEA, 2005). Future graduates will need to have greater ownership of their employable skills and be able to cope with economic upheavals to capitalise on career opportunities (McNair, 2003, as cited in HEA, 2005:12). Universities are under pressure to demonstrate how they are enhancing graduate employability (Dearing, 1997; BIS, 2009) and, in this regard, veterinary schools are no exception. According to BIS (2009), employable skills are modern workplace skills such as team working, business awareness and communication skills; essentially, they are skills that prepare students for the world of work. Thus, interpersonal, leadership and team skills; confidence, motivation and networking skills; problem-solving and business acumen are all deemed critical to enhancing graduate employability (Hawkins, 1999). In this regard, business and management education, more specifically, entrepreneurship education will have a particularly valuable role to play in veterinary curricula in the future. Indeed, there is already evidence in the literature to show that employers recruiting postgraduates place considerable value on such skills in the context of leadership, analytical thinking, problemsolving and idea generation in addition, of course, to actual work experience (CIHE, 2010).

Due to the highly competitive nature of the current veterinary business landscape, veterinary practices need to operate as viable business entities more so than ever before. Thus, veterinary graduates will need to have at least some foundation in marketing and finance. Furthermore, the new career opportunities created by the corporate sector will require entrepreneurially minded individuals who have an understanding of the broader veterinary business sector in addition to their veterinary degree. Through joint venture partnership arrangements, appropriately oriented veterinary graduates will have the opportunity to run their own business without all of the costs and risks associated with setting up a new independent practice or raising the finances required to buy into an existing partnership. If current trends in veterinary (business) education continue, then future veterinary graduates should be well equipped to not only exploit such opportunities as they emerge, but also to add value to the business dimension of all types of existing veterinary practice by helping to develop effective marketing strategies, contributing toward financial sustainability and enhancing the overall veterinary service offering. Furthermore, given that the majority of veterinary graduates take up roles within traditional practice settings, there would appear to be considerable scope for the commercialisation of research and new venture creation outside of this realm. In this regard, increasing the entrepreneurship dimension of the veterinary business curriculum will have obvious benefits.

The Veterinary Business Landscape: Contemporary Issues and Emerging Trends 13

what is already a crowded curriculum with large student groups to cater for, prioritizing the business and enterprise agenda over the more clinical topics or 'ologies' (i.e. immunology, pathology, epidemiology, etc) is not an easy task. Given all the changes that are taking place in the broader veterinary sector, we argue the case for including the full spectrum of business and entrepreneurship education - 'enterprise skills for life', core elements of 'practice management' and opportunities for 'new venture creation' within the five-year veterinary medicine degree programme. Given that relatively few graduates work outside the pure practice wing of the profession, the opportunities to encourage entrepreneurship are significant. Indeed, while a full discussion on this particular topic is outside the scope of this chapter, the potential for innovation and new venture creation in the context of commercialisation of veterinary clinical research, development of new drugs and treatments, and the creation of new products and services for supply to veterinary practices to date has not been fully explored. Developments in these areas could only serve to

Looking to the future, collaboration and partnership arrangements amongst veterinary service and education providers, both nationally and internationally, is likely to offer considerable mutual benefit for all those involved in the veterinary sector. In this regard, future research should consider how such partnerships might be encouraged and where they might be most beneficial. In addition, and with specific regard to the gender shift, future research should focus on increasing the business leadership and entrepreneurial intentions of female veterinary students. This is particularly important if the veterinary business landscape is to continue to include practices led by veterinary professionals. Finally, from our discussion in this chapter, we posit that there is considerable potential within veterinary educational curricula to enhance students' understanding of the business dimension of the veterinary sector, to ensure they are fully aware of the changes taking place within the sector and how these will impact on the veterinary businesses in which they will work in the future. In this regard, the evolving veterinary educational curriculum

Aitken, M.M. (1994) "Women in the Veterinary profession" The Veterinary Record, 134, 546-

Alsos, G. A., Carter, S., Ljunggren, E. and Welter, F. (2011), "Introduction: researching

Baillie, S. and Rhind, S. (2008), "A guide to assessment methods in veterinary medicine," A

http://www.live.ac.uk/documents/assessment\_guide.pdf, last accessed 20th May

*agriculture and rural development*, Cheltenham: Edward Elgar, pp.1-18. Andrews, F.M. (2009) 'Veterinary School admissions in the United Kingdom: attracting

'Blue Sky' project funded by the RCVS Trust, available from

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students to veterinary careers to meet the expanding needs of the profession and of

enhance the veterinary business landscape in the future.

needs to continue its trend toward a business orientation.

global society', Rev. Sci. Tech., 28 (2): 699-707.

**6.1 Future research** 

**7. References** 

551.

2010.
