This discussion helps you to develop the skills to mater the following course competencies:
•Create a comprehensive organizational strategy assessment.
Activity Instructions
This discussion will help you further your knowledge of strategic development by:
•Formulating and proposing strategies based on changing strategic elements of the firm.
Review your Strategic Frame Assessment from Unit 1 and compare your initial finding about the corporate strategy that frames your project firm’s strategy. Recalling the distinction between corporate and business strategies, apply the key concepts for analyzing the scope of the firm. What corporate strategies should be considered to enhance the performance of your project firm?
Discussion Participation Grading Rubric
Criteria
Non-performance
Basic
Proficient
Distinguished
Applies relevant course concepts, theories, or materials correctly.
Does not explain relevant course concepts, theories, or materials. Explains relevant course concepts, theories, or materials. Applies relevant course concepts, theories, or materials correctly. Analyzes course concepts, theories, or materials correctly, using examples or supporting evidence.
Collaborates with fellow learners, relating the discussion to relevant course concepts.
Does not collaborate with fellow learners. Collaborates with fellow learners without relating discussion to the relevant course concepts. Collaborates with fellow learners, relating the discussion to relevant course concepts. Collaborates with fellow learners, relating the discussion to relevant course concepts and extending the dialogue.
Applies relevant professional, personal, or other real-world experiences.
Does not contribute professional, personal, or other real-world experiences. Contributes professional, personal, or other real-world experiences, but lacks relevance. Applies relevant professional, personal, or other real-world experiences. Applies relevant professional, personal, or other real-world experiences to extend the dialogue.
Supports position with applicable knowledge.
Does not establish relevant position. Establishes relevant position. Supports position with applicable knowledge. Validates position with applicable knowledge.
Walgreens is the United States’ largest drug retailing company, and it operates over eight thousand warehouses in all the states. It is headquartered in Chicago suburb, Deerfield, Illinois.
Executive summary
Covered below is the strategies that Walgreens company should put in place to maintain its position in the market niche. Walgreens, though it has a well-established market channels for distribution, is still surrounded by competitors (Bacon 2004). Therefore, the management should put strategies in place to keep it fit and sustain its competitiveness in the market. The SWOT analysis is so important to keep the management alert to the threats and try to reduce weaknesses. It should uphold its strengths and utilize the opportunities available for the purpose of its strategic fit. The SWOT analysis enables the company set its strategies.
Besides, the stakeholders’ decision-making concerning strategies for restructuring sustained growth are articulated. The matters in hand comprise enabling environment and strategic organizational issues.
Strategies of the company
Walgreens has established several stores in almost all the states in the United States of America. These stores act as the distribution channels that sell the end product to retailers and the final consumers of the drugs (Bacon 2004). Each store has an expert or experts who prescribe the drugs for the buyers. The company also has set up stores in strategic places that make it hard for other competitors to venture and overtake it in the market.
Secondly, the company has come up with various innovations that keep it on the competitive edge though it still has to do a lot. The company was the first to introduce containers that are child-resistant. It also made the prescription of drug not in English alone, but in various other languages. It can now sell their products globally by the use of e-marketing and satellite (Bacon 2004). This makes it easier to do sales and marketing of the product to a broad range of buyers.
There are opportunities that the company ought to utilize such as the growing rate of US population. This can be a strategy because, as the rate of population rises, the number of potential buyers increases also. The company, therefore, increases the sales volume thus increasing their revenue and hence it sustained growth. The increment of international marketing is also one of the best strategies of the company (Ketcham 2008). This enhances its strength and popularity, and customer awareness of the company’s products and services.
The stakeholders, beginning with the president of the company to that end retailer, should hold seminars to discuss the ways in which the company retains its competitive status. They should also consider the various dynamics in the modern ways of doing business, especially with the continuously changing technologies (Ketcham 2008).
Recommendation
Walgreens company despite being a market leader in the retail and sales of drugs ought to be careful in its ways of doing business. The management should be smart to keep the company firm and maintain its largest market share. The following measures are important to the company; some of which are ethical issues to retain the customer loyalty. First, the company should train its workforce like pharmacists and physicians who can prescribe drugs for their clients. Secondly, it should have follow-up measures so that in case of any defects in the drugs, or the customers/clients encounter some problems, the company should be there for them to give solutions or alternatives. Besides, the company should open its branches in other countries in various continents for its growth and expansion (Ketcham 2008). Lastly, the core stakeholders should be having regular meetings to keep in check the progress of the company’s performance in all the stores or branches.
References
Bacon, J. U. (2004). America’s corner store: Walgreens’ prescription for success. Hoboken, NJ: Wiley.
Ketcham, J. D., Simon, K. I., & National Bureau of Economic Research. (2008). Medicare Part D’s effects on elderly drug costs and utilization. Cambridge, MA: National Bureau of Economic Research.
Walgreens is the United States’ largest drug retailing company, and it operates over eight thousand warehouses in all the states. It is headquartered in Chicago suburb, Deerfield, Illinois.
Executive summary
Covered below is the strategies that Walgreens company should put in place to maintain its position in the market niche. Walgreens, though it has a well-established market channels for distribution, is still surrounded by competitors (Bacon 2004). Therefore, the management should put strategies in place to keep it fit and sustain its competitiveness in the market. The SWOT analysis is so important to keep the management alert to the threats and try to reduce weaknesses. It should uphold its strengths and utilize the opportunities available for the purpose of its strategic fit. The SWOT analysis enables the company set its strategies.
Besides, the stakeholders’ decision-making concerning strategies for restructuring sustained growth are articulated. The matters in hand comprise enabling environment and strategic organizational issues.
Strategies of the company
Walgreens has established several stores in almost all the states in the United States of America. These stores act as the distribution channels that sell the end product to retailers and the final consumers of the drugs (Bacon 2004). Each store has an expert or experts who prescribe the drugs for the buyers. The company also has set up stores in strategic places that make it hard for other competitors to venture and overtake it in the market.
Secondly, the company has come up with various innovations that keep it on the competitive edge though it still has to do a lot. The company was the first to introduce containers that are child-resistant. It also made the prescription of drug not in English alone, but in various other languages. It can now sell their products globally by the use of e-marketing and satellite (Bacon 2004). This makes it easier to do sales and marketing of the product to a broad range of buyers.
There are opportunities that the company ought to utilize such as the growing rate of US population. This can be a strategy because, as the rate of population rises, the number of potential buyers increases also. The company, therefore, increases the sales volume thus increasing their revenue and hence it sustained growth. The increment of international marketing is also one of the best strategies of the company (Ketcham 2008). This enhances its strength and popularity, and customer awareness of the company’s products and services.
The stakeholders, beginning with the president of the company to that end retailer, should hold seminars to discuss the ways in which the company retains its competitive status. They should also consider the various dynamics in the modern ways of doing business, especially with the continuously changing technologies (Ketcham 2008).
Recommendation
Walgreens company despite being a market leader in the retail and sales of drugs ought to be careful in its ways of doing business. The management should be smart to keep the company firm and maintain its largest market share. The following measures are important to the company; some of which are ethical issues to retain the customer loyalty. First, the company should train its workforce like pharmacists and physicians who can prescribe drugs for their clients. Secondly, it should have follow-up measures so that in case of any defects in the drugs, or the customers/clients encounter some problems, the company should be there for them to give solutions or alternatives. Besides, the company should open its branches in other countries in various continents for its growth and expansion (Ketcham 2008). Lastly, the core stakeholders should be having regular meetings to keep in check the progress of the company’s performance in all the stores or branches.
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