Research Approach for Rite Aid
Rite aid is a drug store that is located in Pennsburg, Pennsylvania which is ranked among the top in United States. Today, it targets many countries by developing numerous stores that operate in various locations. This is a research approach that evaluates on three dimensions in relation to how the firm operates.
This company has a mission strategy that depicts its overall purpose and direction. According to Roger Kaufman et al (2003), this procedure that relates with the critical statements incorporates questions that are relevant to strategic planners. These questions revolve around the importance of the purposes and the existence of the visions in the organization. This research will involve different experts who will share their ideas in public forums to determine the strategic approaches of the business. It is also mandatory for the vision to incorporate key performances to serve as the future indicators of the firm. This is vital for individuals at Rite Aid to share similar ideas that will enhance their operations.
The firm will rely on different data to analyze on its external operations in future. Chances offer Rite aid with conditions to upgrade their performance. Threats deliver vital details that promote integrity of a company in its external surrounding. This analysis that includes the external environment will draw data from SWOT frameworks to promote the business. Rite aid internal analysis will assess the industrial surrounding such as resources and assets of the company. The internal analysis focus is on the strengths and weaknesses to reveal details of strategic direction of the firm (Patrick & Reuss 1993).
Resources at Rite aid also relates to the liberal constituent of its internal assessment. Theses resources can either be tangible or intangible and essential in general operation of the company. The tangible resources include finances that aid to improve the internal and external system of the firm. The intangible sources incorporate pricing premiums and reputation worth that are needed to foster development at the firm.
Roger Kaufman et al (2003); Strategic Planning for Success: Aligning People, Performance and Payoffs, Jossey-Bass/Pffeifer, A Wiley Imprint.
Patrick J. Burkhart and Suzanne Reuss (1993). Successful Strategic Planning: A Guide for Nonprofit Agencies and Organizations. Newbury Park: Sage Publications.
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