Strategic Choice and Evaluation
Rite Aid is ranked to be one of the top stores that sell drugs in United States. It incorporates approximately 4000 stores that prescribe drugs to buyers across the globe. This firm operates around 31 stores in United States. As a result, it has become the third company in America that has managed to recruit 89,000 associates. The purpose of this paper is to analyse the option that Rite Aid needs to embrace to accomplish its development.
This essay will also articulate on the value of discipline, and various strategies to facilitate its implementation. An alternative that will be beneficial to Rite Aid is to initiate new business ventures in other countries. This will aid the company to increase clients when it extends its operations in other states. It is also vital for the firm to consider value discipline to guide them in decision making and accomplishment of their plans. In this firm, value discipline will determine activities of the company and its constituents.
The three categories of value discipline incorporate product leadership, operational excellence and the intimacy among clients. To enhance product leadership, Rite Aid should focus on giving products that can be sold in new locations. Customer intimacy is achieved when the business offers products that satisfy needs of clients (Burkhart & Reuss, 1993). By doing this, they will maintain excellent services that will increase the number of clients.
Generic approach revolves around focus, differentiation and cost leadership. It is a concept that enables firms to offer fair prices at the market. Grand strategy enables a firm to initiate lasting plans that will enable it to accomplish its goals. To facilitate its progress, Rite Aid needs to expand its plan to increase its returns.
Burkhart P.J., & Reuss, S. (1993). Successful Strategic Planning: A Guide for Nonprofit Agencies and Organizations. Newbury Park: Sage Publications
Rite Aid Corp. (2013). Core Values & Mission Statement. Retrieved on 19 December, from: https://www.riteaid.com/about-us.
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