Essay about Walgreen's SWOT Analysis

Walgreen is a leading pharmaceutical company in the United Sates as well as in other parts of the globe. In the United Sates, the company leads other players such as CVS as it operates over 8000 retail stores across the 50 sates making the company the largest drug retailing chain in U.S. The company was founded 155 years ago in 1901 in Chicago, Illinois where its current headquarters lies. As such, the presentation seeks to develop a mini-strategy for the company.

Placed within an industry being pressured by reimbursement rates, plagued by market saturation, and in constant fear of government legislation, Walgreens is trying to pursue new avenues to promote company growth. In order to promote market share growth in New York, Walgreens acquired the drugstore chain Duane Reade in 2010 (WAG to Acquire NY Institution Duane Reade, 2010). Walgreens also recently expanded their online presence in May of 2011 with the acquisition of drugstore.com (Walgreens Co.). While Walgreens also focuses on traditional organic store growth, these actions exemplify their large focus on promoting company growth through new avenues.

3. The acronym SWOT stands for an organizations strengths, weaknesses, opportunities and threats. A SWOT analysis is strategic planning method that evaluates the internal and external performance of an organization to see if it’s favorable or unfavorable to achieve whatever objective you are set out to accomplish. Strengths and weaknesses usually arise from the internal aspect of an organization, whereas opportunities and threats evolve from external components. By performing a SWOT analysis it provides information to managers to help formulate a successful strategy to achieve goals.

According to Nicole Fallon of the Business News Daily, a SWOT analysis is an analytical framework that can help any company face its greatest challenges and find its most promising new markets, by identifying the organization’s strengths, weaknesses, opportunities and threats (2017). It allows for an extensive evaluation of the company’s internal and external resources as well as current and future threats that the company may face. This process can be a great asset in determining and exploring new initiatives, as it helps to identify areas of improvement within the organization while helping with the facilitation and implementation of new business policies. This process is crucial in refreshing the strategies and tactics of any

the benefits of a multichannel strategy” (p. 13). Walgreen’s image is about creating value and making shopping either for consumer goods or prescription drugs more convenient.

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Here doing my research on the SWOT analysis for CVS Pharmacy. Understanding the strengths, weakness, opportunity and threats of CVS Caremark Corporation. CVS is the number one Pharmacy in the United States. CVS Pharmacy has an estimate of two hundred and fifty-eight thousand employees as of the end of date of the year 2016. CVS Pharmacy has high standards for their customers and employees. CVS strives to provide the best pricing in pharmaceuticals across the state, their business is divided up by two segments Pharmacy and Retail and tailored fit for their customer’s needs. CVS pharmacy is located in Woonsocket, Rhode Island, the company headquarters is located in Nashville, Tennessee. CVS is publicly owned and there was and merger between CVS Pharmacy and Caremark in the year of 2007.Cvs also have minute clinics setup at certain locations throughout their organization company to services communities.cvs2017

At present Walgreens appears to be operating in a Horizontal Integration strategy demonstrated through its merger with Boots Alliance and a reported inquiry to purchase Rite-Aid. (Nichols, 2015) Market Penetration is another strategy which Walgreens is presently operating within. Their change in strategy to focus on the customer and improve customer service and relationships is one strategy that is being used to penetrate a market with vast competition that needs a differentiator to remain on top.

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.

Knowing the importance of a strategic vision, every company undertakes a complete analysis periodically. In order to create a strategic plan the parties involved must know every aspect of the industry and the company at hand. The purpose of this paper is to describe and analyze the retail drugstore industry and then focus on Walgreens, the industry leader in terms of sales. As part of the in-depth analysis of Walgreens, its major competitors will also be described and analyzed. The retail drugstore industry consists of all those stores that contain a pharmacy and sell prescription drugs. It also includes businesses that sell prescription drugs online and through the mail. Most retail drugstores also offer other

Walgreen is considered the industry leader, servicing 30.8% of the customer in the whole industry. Additionally, the company has more than 83,000 stores and 251,000 employees. The company offers its customers a wide variety of merchandise products other than prescription and non-proscription drugs, such as household products, food and beverage, and cosmetics. Walgreen also provides many convenience services, such as their photo center, mail pharmacy services, and health services.

This paper will provide insight into the strengths, weaknesses, opportunities, and threats of the Walgreens Company, the nation’s leading drugstore chain. The company’s key stakeholders – customers, employees and the community are also identified and an explanation provided as to how the company is satisfying the needs and wants of each stakeholder type. This paper analyzes the strengths of the company as the industry leader with its wide portfolio of products and services, as well as establishing the benchmark for growth through acquisitions. The company’s weaknesses include prescription errors resulting in death and being unable to keep

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.

This preliminary strategic assessment of Walgreens will describe the company’s current corporate strategy and business model. Walgreens’ acquisitions and mergers will be examined as well as the company’s globalization and competitive frame. A brief overview of how the company is performing and its cost-based business strategy will also be examined. This is the first of four reports that make up the strategic assessment for Walgreens.

Along with the company's strong market performance, the Walgreens Corporation continually shows considerable growth. 2006 ended with Walgreens' 32nd consecutive year of record sales and earnings ("Walgreen Co. reports..., 2006). Walgreens' 2005 sales of $47.4 were a 12.5% increase over the previous year and over $1.5 billion in earnings were a 15.5% increase over the previous year (Walgreens Corporation, 2006a). Furthermore, a new Walgreens store opens approximately every 19 hours (Carpenter, 2004). Consequently, the Walgreens name carries considerable brand equity as a nationwide retailer known for quality and convenience. In fact, Walgreens has positioned itself as the drugstore offering the most convenience (Walgreens Corporation, 2006c). As such, Walgreens offers drive-thru pharmacies in over 80% of its stores, and nearly 30% of stores are open 24 hours a day (Walgreens Corporation, 2006a). The company strives to offer a merchandise mix in line with this focus, providing customers with one-stop stopping for not only prescription drugs,