Walgreens Case Study
WALGREENS
February 23, 2014
FOR
OL 421 STRATEGIC MANAGEMENT AND POLICY
INTRODUCTION:
It was in 1901 that Charles Walgreen Sr. opted to purchase the Chicago drugstore where he worked as a pharmacist (David, 2013). He offered his own drug line and expanded the drug store with other items (David, 2013). His success allowed him to open a second drug store by 1909; over 100 stores in the next nine years, went public with stock shares by 1933, and in 1946 Walgreens pursued a philanthropic venture, opening a non-profit drugstore in the pentagon (David, 2013). Currently, Walgreens has stores located in all 50 states as well as the District of Columbia and Puerto Rico (David, 2013). Walgreens dedication to be the first choice in the health and the daily living category has helped it expand globally and maintain a competitive advantage. They currently offers prescription labels in 14 languages and were the first to offer child-resistant containers before law required them (David, 2013).
Walgreens has proved to be innovative and adaptable to the times, which contributes to many years of success. However, in the past few years the economy has seen high unemployment rates, changes in the health care industry and price matching in response to consumer price sensitivity (David, 2013). Walgreens will have to work on offering attractive pricing and other service offerings to maintain its high ranking and competitive advantage.
CURRENT MISSION, GOALS, & STRATEGY:
Walgreens current mission is “To be the most trusted, convenient, multichannel provider and advisor of innovative pharmacy, health and wellness solutions, and consumer goods and services in communities across America. A destination where health and happiness come together to help people get well, stay well and live well” (David, 2013).
To maintain a competitive advantage, Walgreens offers their employees career advancement and training opportunities for career development. They are
February 23, 2014
FOR
OL 421 STRATEGIC MANAGEMENT AND POLICY
INTRODUCTION:
It was in 1901 that Charles Walgreen Sr. opted to purchase the Chicago drugstore where he worked as a pharmacist (David, 2013). He offered his own drug line and expanded the drug store with other items (David, 2013). His success allowed him to open a second drug store by 1909; over 100 stores in the next nine years, went public with stock shares by 1933, and in 1946 Walgreens pursued a philanthropic venture, opening a non-profit drugstore in the pentagon (David, 2013). Currently, Walgreens has stores located in all 50 states as well as the District of Columbia and Puerto Rico (David, 2013). Walgreens dedication to be the first choice in the health and the daily living category has helped it expand globally and maintain a competitive advantage. They currently offers prescription labels in 14 languages and were the first to offer child-resistant containers before law required them (David, 2013).
Walgreens has proved to be innovative and adaptable to the times, which contributes to many years of success. However, in the past few years the economy has seen high unemployment rates, changes in the health care industry and price matching in response to consumer price sensitivity (David, 2013). Walgreens will have to work on offering attractive pricing and other service offerings to maintain its high ranking and competitive advantage.
CURRENT MISSION, GOALS, & STRATEGY:
Walgreens current mission is “To be the most trusted, convenient, multichannel provider and advisor of innovative pharmacy, health and wellness solutions, and consumer goods and services in communities across America. A destination where health and happiness come together to help people get well, stay well and live well” (David, 2013).
To maintain a competitive advantage, Walgreens offers their employees career advancement and training opportunities for career development. They are
References: Census Bureau Homepage, (n.d.). Census Bureau Homepage. Retrieved February 19, 2014 from http://www.census.gov Congressional Budget Office. (2010). The budget and economic outlook: Fiscal years 2010 to 2020. (CBO Publication No. 4095). Retrieved February 18, 2014 from http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/108xx/doc10871/01-26-outlook.pdf David, F. R. (2013). Strategic management (14th ed.). New York: Pearson. Enright, A. (20120, August 5). Walgreen Co. adds 24-hour live chat with pharmacists. Top 500 U.S. E-Retailers. Retrieved February 22, 2014 from http://www.internetretailer.com/2010/08/05/walgreen-co-adds-24-hour-live-chat-pharmacists Deloitte Center for Health Solutions. (2008). Retail clinics: facts, trends and implications. Retrieved February 18, 2014 from http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_chs_RetailClinics_230708(1).pdf U.S. Census Bureau. (2012). E-stats. Retrieved February 18, 2014 from http://www.census.gov/econ/estats/2010/2010reportfinal.pdf