...I n c .
Retail Pharmacy GrowthStrategy
CVS has managed to successfully grow its company ov
er the past few decades both organically and throug
h the acquisitions of
beneficial companies. It has a proven track
record of successfully integrating these companies
into its operations and creating
synergies to drive higher margins and greater econo
mies of scope. According to CVS’s top management it
expects in 2008 to
earn around $700 million dollars in cost saving sy
offering customers the simplest solutions to health
care related problems. It sees growth in a number o
f different aspects of
Store Development –
CVS’s long term grow
market share in the retail pharmacy industry. One w
ay to accomplish this is by
opening up more stores in top drugstore markets. CV
S plans to continue their
strategy of increasing the number of pharmacy store
s across th
shows the current locations of CVS pharmacy stores
and provides the
reader with a visual representation of CVS’s presen
ce in the U.S. Another strategy
to increase profitability has been the move to free
standing locations for
This is designed to improve convenience for custome
provides them with more square-
footage per store to add new services such as its M
inuteClinic and drive thru
accommodations. As of October 2008 Management has g
otten a sol
to continue this...
A Venture’s Typical Life Cycle
Profit, Productivity, Revenues
Managing Entrepreneurial Growth
NewNew-Venture Development Start-up StartActivities Venture Growth Business Stabilization Innovation or Decline
Venture Development Stages
The Entrepreneurial Mindset
Future Goals Status Quo Change Perceived Capability Possible
The Entrepreneurial Company in the Twenty-First Century
Building the Adaptive Firm
• • • • Share the Entrepreneur’s Vision Increase the Perception of Opportunity Institutionalize Change as the Venture’s Goal Instill the Desire to Be Innovative
– A reward system – An environment that allows for failure – Flexible operations – The development of venture teams
The Transition from an Entrepreneurial Style to a Managerial Approach
• Balancing the Focus (Entrepreneur and Manager)
The Entrepreneurial Culture Versus the Administrative Culture
The Entrepreneurial Culture Versus the Administrative Culture
Strategic Orientation Commitment to Seize Opportunities Commitment of Resources
Driven by perception of opportunity Revolutionary, with short duration Many stages, with minimal exposure at each stage
...their skills within the strategic objectives of the organization. Bratton and Gold
HRP is the process through which, based on the analysis of changing external and internal conditions, management defines the desired future state of human resources.
A systems perspective of the HRP process: strategy formation-HR planning-implementation of HR action plans
A processual perspective of the HRP process-strategy formation-hr planning-HR actions in a two way relationship
Key features of SHRP:
-directed at meeting current and future needs
-progresses through phases from forecasting to developing plans
-monitoring and evaluating outcomes and feeding back the results
-should be driven by strategic objectives and its purpose to achieve its fulfilment
Limitations of HRP definitions:
-provides no insight as to what it considers right people or right time
-what is meant by term process
-the strategic linkage failed to prove a two way relationship
-planning refers to the outcomes of the forecasting process
Turner, key elements of HRP:
-strategic planning (strategy formation, environmental scanning, key business issues)
-demand forecasting (what are hr implications on strategy, forecasting for future HR requirements to meet bis. Objectives)
-auditing current HR capabilities (analyzing current labor resources, auditing internal labor supply)
-supply forecasting (forecasting internal and external labor...
...At present, the most important goal for Wal-Mart is to maintain their current net sales growth of approximately 12 percent per year. As the world’s largest company, Wal-mart’s own vast size serves as the main impediment to achieving this goal.Furthermore, Wal-mart may have saturated the market in the United States thereby limiting its ability to expand domestically. The best solution for achieving the above goal is to expand into international markets that have large population centers.
Increasing net sales at 12 percent per year is the most important goal because it offers Wal-Mart and its shareholders the highest probability of maintaining or increasing their return on equity. Alternatively, return on equity could possibly be improved by increasing the overall efficiency of the organization by reducing operating costs or cost of goods sold. However, by demanding concessions from suppliers and requiring them to use Retail Link Wal-Mart is already an industry leader in reducing cost of goods sold. In the area of human capital, Wal-Mart has no unions, pays low wages, and relies heavily on part-time and temporary help.
Again, Wal-Mart being the largest company in the world is the key impediment to maintaining 12 percent annual sales growth because they are already in almost every market in the United States and many international markets. There is little market share left to capture domestically because firms like Ames, Woolworth’s, and...
...Mcdonalds and Tesco growthstrategies
McDonald’s & GrowthStrategies
Market penetration is one of the strategies McDonald’s use for growth. McDonald’s sells existing products which are fast food to the market such as Burgers and fries. Both the consumer and products that are being sold which are fast food stay the same. The reason for this is because McDonald’s sell the regular food mostly to the regular customers. The risk is also less for the business to fail as McDonald’s know the market and the market knows the products which are fast food being sold by McDonald’s.
Market development is another strategy McDonald’s use for growth. They can sell existing products in a new market which are the specific fast foods they are required. For instance McDonald’s may decide to open up another store in a new destination such as Cardiff or Merthyr or even in another country or region. Market development is quite risky if you don’t research on your new market the reason for this is because you must understand the new market where you will be selling your existing products.
Product development is the third strategy which could be used to grow McDonald’s. McDonald’s could sell their new products to an existing market. But before they start planning to produce the new product it is vital that they carry out research and development in order to come up with a...
2014 - 2020 GROWTHSTRATEGY
Cracker Barrel has an issue that must be faced now. The average age of a Cracker Barrel customer is 58 years old. By 2020 our analysts have forecasted that to grow to closer to 65. With our bread and butter customers aging by the day and a lack of new lifetime customers, we need to create a new growthstrategy to develop younger lifetime customers.
New Demographics and Markets
Create Lifetime Customers
The plan will be to grow into new markets with younger populations and to develop new plans to drive customers into the stores. We have planned two primary solutions to align with our goals.
Community relationship and marketing through local churches
Cracker Barrels need to reach into these new markets, and become welcome to the community. Through outreach and relationship, we will bring in the families of the community and create the restaurant that the children will want to come back to and eventually bring their own family.
In 2012 Cracker Barrel opened three stores. In 2013 they have opened two, with one more planned1. If you look at the towns that they have opened the stores in, you find that they don’t tend to have a lot potential customers under 18. If we look at the three stores for 2013 we find this:
17.6% had children under the age of 18
...THE MCDONALD’S CASE: STRATEGIES FOR GROWTH
Lecturer, Hotel Management Program
Faculty of Economics Petra Christian University
Le Hoang Giang
Press officer in Canadian Consulate, entrepreneur, hospitality consultants in Ho Chi Minh City
Abstract: This paper presents a case study of international franchising, focusing on fast-food sector.
McDonald's is one of the world's premier entrepreneurial success stories. However, early in 2003,
McDonald’s has announced a re-structure plan including cutting jobs, closing many restaurants and slowing
down the expansion plan. What went wrong with McDonald’s and what can other international franchises
learn from these mistakes are investigated. Result shows business environments, corporate level strategies,
and operations are the key issues.
Keywords: McDonald’s, international franchising, fast food.
In a global scale, the fast-food industry is facing
some serious threats. First, the fast-food market has
reached the boiling point in most of the main market
such as United States, Germany, and United
Kingdom. The war price of fast-food giants is a clear
example of market saturation, for example, Wendy’s
chain has introduced a lowest ever price value meal:
99p. In terms of the product life cycle, quick service
restaurants have reached maturity stage. Figure one
illustrates the life cycle of quick...
...innovation and tax policies that promote growth and investment.
All because of the entrepreneurial spirit and vitality of a nation that cultivates diverse cultures... and people... and points of view. I believe it's the same formula -- the same antidote -- that will ultimately solve our current problems.
For the record, I should say I am an unabashed optimist. And I work for a company that is unabashedly optimistic. We learned this trait from America itself. For the last 124 years, Coca-Cola has grown up right beside America. We have reinvented and renewed ourselves countless times, just like this great nation.
Now, I realize that being an optimistic Baby Boomer is not exactly in vogue at the moment. In fact, USA Today published a report two weeks ago that cited that two-thirds of Baby Boomers were less optimistic about the future of the U.S. than they were when they turned 21.
I certainly understand the anxiety and frustration that exists out there today. The past two years of economic plight have been tough -- brutally tough. Families have suffered. Communities have suffered. Too many jobs have been lost and too much wealth has vanished.
I also believe, though, that our darkest days have passed. We're beginning to see the first rays of light through that long dark tunnel. If we muscle through, I believe we're not only going to see a return to pre-2008 economic conditions, but we're also going to witness potentially unprecedented levels of...