00 Verizon 9:32 PM 23% Healthcare Pharmacies-CAP F.. HealthCare Pharmacies Healt
ID: 371004 • Letter: 0
Question
00 Verizon 9:32 PM 23% Healthcare Pharmacies-CAP F.. HealthCare Pharmacies HealthCare Pharmacies is a family-owned chain of pharmacies or drugstores consisting of 40 stores scattered across two southern states. It has been a reasonably successful operation for nearly 50 years, serving small to large cities (25,000 up in population) across the region. The company was founded by two brothers (William Smith, the Pharmacist, and James Smith, the retailer), one a pharmacist, the other a discount retail specialist. As a result, their focus was on providing not just pharmaceutical services (filling prescriptions, selling over-the- counter medical supplies), but also selling any and everything that could be sold. Some prices lower than competitors, some higher. This is reflective of their history as a small town drug store that also served as the "general" store in some small communities (in the early days even smaller than 25,000), while recognizing the increasing competitive impact of national chains such as K-Mart and Woolco (eventually it failed), regional discount chains (e.g., Miller's) and the emerging growth of Wal Mart. Similar to Wal-Mart's, the Smith brothers used an encirclement process, opening stores in smaller towns and dominating those markets, before expanding into larger cities. The size of the stores typically ranges from 10,000 square feet to 15,000 square feet, depending on the location. The stores looking much like the larger chain drug stores, with drugs being the primary but not only focus (stores carry limited foods such as dairy products, canned soups, microwavable food stuffs, etc., cosmetics, toys, household cleaning supplies, etc.) Additionally, they have traditionally had a lunch counter with 5- 6 booths, and 5-7 tables. The "lunch" counter in some locations also opens for breakfast. Here, sandwiches, salads, soups, shakes, malts, etc. are sold, much like "soda fountains" or lunch counters in the 1930s, 1940s and 1950s Although the company has been remarkable successful for most of its existence, recently same store sales have begun to decline, showing a 2-4% decrease each year for the past four years. Competition is increasing in intensity with Wal-Mart, CVS, Rite-Aid, the resurgence of Wal-Green's, and even with some grocery chains (e.g., Publix) including pharmacies in their stores. Even the internet is having an impact as some potenti customers will buy on-line from companies such as Amazon those items they used to buy in the stores. Additionally, while they have attempted to having a little bit of everything to offer emphasis has never been about store appearance (many stores Courses Calendar To Do Notifications InboxExplanation / Answer
3) The stakeholders in this case are:
Since James wanted to sell the company to some investment group, the first person that is affected by this decision is Melissa and board of directors (if any). Since William brought the firm to this level, his family will surely be affected by this decision.
The next stakeholder in line are the employees who are dependent on the organization. All the employees & workers who are a part of the organization will be affected. If the firm is sold to a new investor, then the work culture would change and this might affect the employees. Few people may even lose their jobs.
Top management may set the overall strategic direction for the company, but the employees are responsible for carrying out the tasks specified in the company’s strategic plan in an efficient manner. Employees are the closest to the action. They interact with customers on a daily basis. In a manufacturing environment, they work directly on the company’s products. The company’s success depends in large measure on the skill and dedication of its employees. Without the employees performing their roles proficiently, the company will not reach its revenue and profit potential. Suppliers are affected too. The policies and other agreements will change with the new management. This will affect the way suppliers have been working with the organization previously. Vendors also play a role of introducing new applications or solutions to the company so it can become more efficient, more productive and lower its costs -- and increase its margins and profits. In the same way, Customers will also be affected. Customers have been unsatisfied with the way healthcare pharmacy is selling the products/ sku's. WIth the new management, they may fear that that might become worse.
The role of customers is critical to the company’s survival and success. Through the purchase decisions they make each day, they select which companies will prosper and which will fail. They also provide valuable feedback to the company about its products and customer service level. This feedback enables the company to improve what it offers and to come up with entirely new solutions to customer needs based on what its customers asked for. For many businesses, customers also play a vital role in the company’s marketing efforts by recommending the company’s products or services to other potential customers.
Lastly, community provides the skilled workforce that a company depends upon to maintain its competitive edge. Members of the community, including the news media, often play a watchdog role, ensuring that the company is a good citizen with fair business practices, concern for the environment, and a willingness to contribute to charitable and social causes.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.