Strategies Used by Rite Aid Pharmacy

Record and background checks are performed on all new employees and applicants. Drug screening for applicants and employees are also performed. Specifics as to who performs all these checks and screening, and what is checked or screened were not provided due to security concerns. Promoting from within is highly encouraged at Rite Aid pharmacy with many employees trained and promoted to supervisors and managers.

Shoppers Drug Mart Corporation’s vision is “ to be the leader in helping Canadians discover a healthier outlook on life.” Also this statement has been backed up by this company’s core values which include: Ownership, Accountability, Passion for results, Customer-driven innovation and People and community (cite).

Walgreens is the second-largest retail pharmacy chain in the United States. The company’s mission is to be America’s most loved pharmacy-led health, wellbeing, and beauty retailer (Walgreens Mission, n.d.). Our purpose is to champion everyone’s right to be happy and healthy through the company slogan of “Corner of Happy and Healthy.” Our core focus is to improve the quality of life through our pharmacy services, Take-care clinics, and health and beauty products. These messages are widely broadcast through media such as television commercials, radio, and health and fitness magazines.

In conclusion, given that due to lack of better judgement throughout all the Rite Aid chain store within the nation many of the policies had to be rewritten based on pill bottles being disposed with patient’s personal information listed on them. Due to those actions it has brought into investigation by several agencies such as HHS Office of Civil Rights (OCR) and FTC which will focus on questioning the laws broken regarding HIPAA laws that was violated. Consequently, following the entire investigation it was found that Rite Aid was held liable under the HIPAA privacy act for improperly disregarding patients pill bottles in the public garbage. The ending result of this case has found Rite Aid at fault and they agreed to pay a settlement in the

Walgreen’s is known to be one of the most well-known U.S. retail drugstores around the world but in1961 their leading competitor came to town, CVS (originally called Consumer Value Store). Today both companies compete not only with each other but with grocery stores, mail-order pharmacies and big box retailers such as Wal-Mart and Target.

Visiting Rite Aid will improve the company’s reputation in the community. People will see that they are helping out the youth and respect them for it. Also, if other kids see this happening, they will want to visit

Cost leadership (Johnson et al., 2013, p194) strategy involves becoming the lowest-cost organisation in a domain of activity. In this case, NiMH battery prices were reduced to remain competitive in the market considering the fact that NiMH batteries represented the Cash Cow of the company.

Walgreens’ principal activity is to operate a chain of retail drugstores that sells prescription and nonprescription drugs. The company also carries additional product lines like general merchandise including cosmetics, food, beverages and photofinishing. Walgreens is one of the fastest growing retailers in the United States and led the chain drugstore industry in retail sales and profits last year.

Current Industry. The retail drug industry’s 2010 combined annual revenue was $277 billion, according to the National Association of Chain Drug Stores (Drug Store Industry…, 2011, par. 4).The big players in this industry are CVS Caremark, Corp. Walgreen Co., and Rite-Aid, Corp with Wal-Mart and Target developing more of a presence in recent years. According to the article, the drug store industry is very concentrated with the 50 largest companies generating about 70 percent of the industries revenue (Drug Store Industry…, 2011, par. 4). The industry had grown substantially in the last 50 years and will continue to innovate and develop well into the near future.

Mission statement: “ To be a leader in merchandising and distribution of food, personal care items, pharmacy, seasonal merchandise and related products & services."

In business, three major strategies comprising of cost leadership, differentiation, and focus strategies exist. The focus strategy emphasizes on providing services and products to a specified buyer group or market segment within a given geographic market. The differentiation approach is often defined as provision of services or products that are perceived to be unique in the market place. Wal-Mart emphasizes on the long-term strategy of cost leadership. Through this strategy, the company ensures that it offers customers with quality products at relatively lower prices than other providers in the industry. Through overall cost leadership strategy, Wal-Mart has been offering better quality products at a lower price than any competitor can offer. For the organization to achieve this goal, it has developed long-term supply chain management, which ensures that products are made available to the market at the required time (Enz, 2010).

We would like to thank you so much for all the hard work that you all have been doing. As Walgreens still continue being one of the top largest retail pharmacy in the United States. Our goal and vision has always been; to be America's most loved pharmacy-led health, wellbeing and beauty retailer and to champion everyone’s right to be happy and healthy and that also include our employees. With that being said we really appreciate your loyalty and the excellent work that you continue to do despite our current predicament.

Wal-Mart's stance on not allowing unions can also be accredited to their cost leadership approach. When I outline Wal-Mart's business policy at the start of this essay, I suggest that they were a central-control based organisation that tried to ensure it controlled all aspects of the firm. This is linked to cost leadership, by having tight control they know exactly where money is going and where it is coming from which allows for better development of efficiency.

The organizations that endeavour to wind up the least cost makers in an industry can be alluded to as those taking after a low cost procedure. The organization with the least expenses would gain the most elevated benefits in the occasion when the contending items are basically undifferentiated, and offering at a standard business market cost. Organizations taking after this methodology place accentuation on cost diminishment in each action in the value chain. Note that an organization may be a cost pioneer however that does not inexorably infer that the organization 's items would have a low cost. In specific occurrences, the organization can for occasion charge a normal cost while applying the low cost leadership strategy and put the earnings made back into the business

A successful cost leadership strategy usually provides the entire firm with high efficiency, low overhead, limited perks, intolerance of waste, intensive screening of budget requests, and wide span of control efforts. However, some risks of pursuing this strategy are that competitors might imitate the strategy, thus, driving overall industry profits down; that technology breakthroughs in the industry may make the strategy ineffective; or that buyer’s interest may swing to other differentiating features besides price.