Introduction
As the largest drugstore chain in the United States, and one of the most respected U.S. Corporations, Walgreens is ranked number 35 on the Fortune 500 Company list for 2015 (DeCarlo, 2015). With over 8, 200 stores nationally, Walgreens has become a massive drugstore chain with stores in all 50 states. They also have stores in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. They had fiscal 2014 sales of more than 76 billion dollars. The mission of Walgreens is to be America’s most-loved pharmacy-led health, well-being and beauty retailer. Their purpose is to champion everyone’s right to be happy and healthy. (News Room Fact Sheets, n.d.). Walgreens had a humble beginning in 1908, with their first store …show more content…
They are expanding its beauty departments and other retail merchandise in order for shoppers to utilize the rest of the store alongside their pharmacy departments (Newsroom Press: Releases & General News, 2014). Walgreens products and services include pharmacy, health and beauty, photo, retail, immunization services, health testing, specialty medicines, healthcare clinics, 90 day supplies, fill and bill to help reduce paperwork, a prescription savings club, and pharmacy centers of excellence that serves chronically ill individuals. External environmental factors affecting Walgreens includes global economic slowdown, healthcare reform problems with insurance, and the spread of prescription drug use. Walgreen’s strengths include their own name product line, the Well Experience initiative, and their Balance Rewards Loyalty Program. Their weaknesses is profit loss due to healthcare reform. Walgreens has a unique opportunity due to the expected rise in healthcare needs of more than 30 million individuals in the next five years. They can expand their own label of products to help individuals purchase more affordable products who are experience economic hardship. Growth an expansion on global level is a great opportunity for the company. Threats that Walgreens experiences are economic hardship in society, the rise of online …show more content…
Their primary goal was to build a high-performance culture at every level. With that in mind, they decided on a few priorities for the redesign. First, they made structural changes to free up the leaders’ time and better support them. Second, they had to change decision rights so that the right approvals were happening in the right places. Next came incentives; they had to change the way that they motivated and rewarded people, to emphasize employee engagement and customer satisfaction. Finally, they had to develop mechanisms that could change long-established mind-sets and norms, not just change details of operations but develop coaching, support networks, and a new performance management model. Walgreens has demonstrated a high level of innovation by introducing their Balance Rewards Program in 2012. This program rewards their customers for healthy behaviors such as walking and weight management. They have also created a new system of care clinics where nurses call customers back within 24 to 48 hours (Moukheiber, 2013). Walgreens is committed to humanitarian efforts. In 2014, they raised more than four million dollars for the American Red Cross Disaster Relief Fund (Walgreens Raises more than $4 Million for American Red Cross Disaster Relief Fund, 2014). They also started a “Get a Shot, Give a Shot Campaign in 2014. Through this program, Walgreens, in conjunction with the United Nations Foundation, has
As the largest drugstore chain in the United States, and one of the most respected U.S. Corporations, Walgreens is ranked number 35 on the Fortune 500 Company list for 2015 (DeCarlo, 2015). With over 8, 200 stores nationally, Walgreens has become a massive drugstore chain with stores in all 50 states. They also have stores in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. They had fiscal 2014 sales of more than 76 billion dollars. The mission of Walgreens is to be America’s most-loved pharmacy-led health, well-being and beauty retailer. Their purpose is to champion everyone’s right to be happy and healthy. (News Room Fact Sheets, n.d.). Walgreens had a humble beginning in 1908, with their first store …show more content…
They are expanding its beauty departments and other retail merchandise in order for shoppers to utilize the rest of the store alongside their pharmacy departments (Newsroom Press: Releases & General News, 2014). Walgreens products and services include pharmacy, health and beauty, photo, retail, immunization services, health testing, specialty medicines, healthcare clinics, 90 day supplies, fill and bill to help reduce paperwork, a prescription savings club, and pharmacy centers of excellence that serves chronically ill individuals. External environmental factors affecting Walgreens includes global economic slowdown, healthcare reform problems with insurance, and the spread of prescription drug use. Walgreen’s strengths include their own name product line, the Well Experience initiative, and their Balance Rewards Loyalty Program. Their weaknesses is profit loss due to healthcare reform. Walgreens has a unique opportunity due to the expected rise in healthcare needs of more than 30 million individuals in the next five years. They can expand their own label of products to help individuals purchase more affordable products who are experience economic hardship. Growth an expansion on global level is a great opportunity for the company. Threats that Walgreens experiences are economic hardship in society, the rise of online …show more content…
Their primary goal was to build a high-performance culture at every level. With that in mind, they decided on a few priorities for the redesign. First, they made structural changes to free up the leaders’ time and better support them. Second, they had to change decision rights so that the right approvals were happening in the right places. Next came incentives; they had to change the way that they motivated and rewarded people, to emphasize employee engagement and customer satisfaction. Finally, they had to develop mechanisms that could change long-established mind-sets and norms, not just change details of operations but develop coaching, support networks, and a new performance management model. Walgreens has demonstrated a high level of innovation by introducing their Balance Rewards Program in 2012. This program rewards their customers for healthy behaviors such as walking and weight management. They have also created a new system of care clinics where nurses call customers back within 24 to 48 hours (Moukheiber, 2013). Walgreens is committed to humanitarian efforts. In 2014, they raised more than four million dollars for the American Red Cross Disaster Relief Fund (Walgreens Raises more than $4 Million for American Red Cross Disaster Relief Fund, 2014). They also started a “Get a Shot, Give a Shot Campaign in 2014. Through this program, Walgreens, in conjunction with the United Nations Foundation, has