RITE AID PHARMACY

Strategic PlanLisa Mains

STR 581May 29 2015

Table of Contents• Company Background• Mission, Vision and Value Statements• Environmental Scan• Company Strategies• Implementation Plan• Objectives and Functional Tactics• Action items and Milestones• Risk Management• Contingency Plan• Conclusion

Company Background• Rite Aid Corporation is a Pharmacy chain providing

prescription drugs and other merchandise used for survival and every day personal use for a healthier life

• Established in 1962, operation of over 4,000 stores, in 31 states and DC. Stores mainly on east coast small presence in the west

• Currently organization is functioning in the red and are in a turnaround stage

Mission, Vision and Value Statements• Mission to provide customers with the best products and

services at a good price • Improve the health and wellness of their communities

• Vision is to be the choice for customers when in need of pharmaceuticals, health and wellness items

• Values are the have loyalty to customers and the ability to be known as the caring neighbor for others

Environmental Scan

• Adopting green business principles• Rite Aid Foundation and annual campaign for

Children's Miracle Network donations• Ensure employees use good practices when

distributing drugs • Concentrate on Energy efficiency on the newly

remodeled stores • Continue to properly dispose of protected

health information and harmful waste.

Strategies

Rite Aid is in a downward slope and in need of a turnaround.

A new customer base through advertisement and the new wellness membership that provide discounts/coupons

New wellness program in all stores creating centers and a caring organization for the customers

Provide customers with care preventing them visiting doctors for small seasonal visits for getting Flu shots

Implementation Plan

Short Term ObjectivesRe-gain customer satisfactionTraining for associates on customer serviceHiring of personnel managerial and associates with some experienceStore exposure through advertising, marketing and sales promotionsCut unprofitable storesExposure by visiting/volunteering at shelter, soup kitchen, etc.

• Long Range ObjectivesRemodeling of stores for spaceContinue Start-up of Wellness Plenti plus Programs in all storesSurvive on its own cash flowEstablish more long-term customer relationshipsIncrease customer base by 20% every year for the next 5 yearsIncorporate the steps/plans to handle items related to the Affordable Care ActIntegrate technological devices to comply with HIPPA laws

Functional Tactics & Action Items• Human Resources will administer a hiring action for new and

knowledgeable employees

• Training Department mandatory training, refresher or initial better customer service

• Marketing need advertisement/sales/get exposure to Rite Aid and monitor competitors, keep abreast of what customers want

MilestonesRite Aid milestones are crucial for it’s survival in the future

May 2015 - to remain out of the red and remain profitableMay 2015 - Increase customer base by 20% each yearMay 2015 - complete transformation of all stores into wellness plenti plus centers

Risk Management & Contingency

• Ensure customers are respected and continue to provide the service they expect

• Provide information and train all entities associated of responsibilities of proper disposal of harmful drugs and chemical disposed from our stores

Conclusion

Rite Aid will continue to bring its organization back as one of the leading pharmacy and health product distributors. After analyzing the current state of the organization, this business plan will serve as a guide to improve and put Rite Aid back as a competitor in the pharmacy business

References

• Rite Aid Pharmacy. (2015, May). Annual Report and Proxy Statements. Retrieved from http://www.riteaid.com