Consumerism has always played a critical role in my life. As a child, an endless series of elementary school fads introduced this debilitating desire to have. From a young age it was obvious that one’s status is very closely correlated with what they own and the desire to fit in engendered a sense of competition in my elementary psyche. Yet, a year ago when I began working at Walgreens I started to question the ideas with which I had been indoctrinated. But at first, my job seemed a simple rite of passage and my chance to prove I could evolve into a working, dependent citizen.
Walgreens was founded in 1901 measuring 50 feet by 20 feet by Charles R. Walgreen, Sr.. Mr. Walgreen was born near Galesburg, Illinois and his family later relocated to Dixon, Illinois at town about 60 miles north of his birthplace. Mr. Walgreens’ father was a farmer who turned into a businessperson and saw a great potential of the Rock River Valley (Walgreen, n.d., p.1). At age 16, Charles Walgreen had his first experience working in a drug store. He didn’t always have pleasurable experiences but it was a job with pay. He had an accident at a shoe factory that cut off his left middle finger from the top joint. This injury also stops him from playing any sports at school. After a year and a half with the
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.
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.
Founded in 1901, Walgreens goal is to be consumers’ first choice for health and daily living across the nation, and a central part of people’s lives and the communities where they live and work. The company provides the most convenient, multi-channel access to goods and services, and pharmacy, health and wellness services while developing a new customer experience. Walgreens is the largest drug retailing chain in the United States as of 2012. A fiscal year for Walgreens end on August 31st, all of the measures are from either fiscal year 2012 or 2011.
The competitive prices, countless discount opportunities, and friendly employees keep customers loyal to Walgreens even if they are not making frequent visits to the pharmacy department. This paper seeks to analyze the different components of the drug store industry and the aspects of the marketing strategy of the Walgreens Company that have kept it a strong competitor for so many years.
The publicly traded company I selected was Walmart. The most recent financial statements available were for the year of 2014. The footnote’s of the financial statements was necessary for investors to gain insight into the company because it contains important information of the processes or accounting methods of the organization for recording and reporting transactions such as the pension plan details and stock and compensation information which can deal with what a shareholder can expect from an investment in the company. The foot notes of the financial statement report the specific details are financial information over a specific time frame that were left out of the main reporting documents. More so, to give clarity since the financial statements
Since the Walgreen Company sells products as the retailer or manufacturer it may find the cost of its products increases or rises high the company should use the LIFO method of inventory (Porter & Norton, 2013). According to Hughes and Schwartz (2014), the use of LIFO method of inventory helps a company buys or sells will less taxable income and less income tax payments than FIFO. Porter and Norton also found that when the prices are rising frequently, then a company should use the LIFO method. Therefore, the Walgreen Company uses the Last-In, First-Out (LIFO) Method. It is also equally important that the Walgreen Company should use the LIFO method of Inventory costing because the cost of last accrued items should be assigned firs tot sales
I visited Walgreens today because I wanted to print out some of my pictures, and also I wanted to buy a digital camera for my mom. I choose Walgreens because it is one of the best company in photos and in the selling of digital cameras. My experience in using interactive tools, and digital displays was very interesting.
In Walgreens board of directors there are two inside directors which is acceptable ratio. Best practice recommends at least ¾ of board members should be independent which is in case of Walgreens satisfied.
The emerging trend covered in for this week’s readings involves workers with disabilities. The title of the case is Walgreens Leads the Way in Utilizing Workers with Disabilities (Gomez-Mejia, Balkin, & Cardy, 2012). This case gives the reader the ability to understand the need for Equal Employment Opportunity Laws. Also, the case gives one an opportunity to see how these laws actually help these cases. Even more, it supports the idea of how it is very important to give those individuals with disabilities an opportunity to seek work and maintain and healthy life style. The law that this group affects is the Americans with Disabilities Act (ADA) signed in 1990 (Gomez-Mejia, Balkin, & Cardy, 2012). This law helps and benefits many individuals in America. It also helps organizations to bring positive attention to their corporations, if they choose to employ workers with disabilities. Above all, it is very important that human resource departments across the nation pay very close attention to these laws. Not only will it be against the law to break regulations set by such acts, but it will also be unfair not to give these individuals an opportunity to apply for a job. This project will summarize the case and will focus on two key learnings from it.
Since most specialty procedures are inpatient services, EMC’s inpatient occupancy rate suffers. The occupancy rate for Emanuel Medical Center – fifty percent – is far below that of its competitors and industry benchmarks. To accompany this, EMC (on average) receives a lower reimbursement for in-patient Medicare services per patient seen in comparison to its competitors. A result such as this is correlated with directly to the fewer amount of specialty services that EMC offers. In order for Emanuel Medical Center to be able to compete with other hospitals in its service area, it is imperative that EMC evaluates what services they currently offer and are capable to offer in the future to add value to the hospital, increase its revenue stream, and expand its patient mix. Currently, Emanuel Medical Center has not succumbed to its increasing financial pressurealthough EMC has had a negative operating income for five straight years. A negative operating income places EMC at a disadvantage because it limits the hospitals ability to renovate its aging building or hire new specialists to offer revenue enhancing procedures. EMC’s competitors, on the other hand, have large sources of revenue due to their mergers with large healthcare networks such as Catholic Healthcare West. Another competitor, Kaiser Permanente Modesto Medical Center, has extremely large financial resources due to the fact
Often times, the retail clinics are located near the patients’ homes and offer unconventional office hours. Operating every day of the week, patients are usually seen as walk-ins with minimal wait times. Prescriptions can also be immediately filled while they shop for grocery or personal care items in the drug store. Moreover, the cost for the efficient quality care is relatively small compared to that of visiting primary care physicians’ practices. A usual visit to the retail clinic can run between forty to seventy dollars depending on the depth of the service. Convenience care clinics that are purposely designed to be housed in retail stores with high traffic volume have existed to accommodate the public’s quest for convenience and wellness (Hansen-Turton et al., n.d.).
Hospitals and health systems in the U.S. are experiencing a remarkable transformation in their business models directed from numerous influences that are projected to ultimately turn the industry around. Pressures include providers troubled with the quantity of services they are responsible for, to providers who concentrate on presenting high-cost services that give emphasis to sustaining healthy populations (Dunn & Becker, 2013).