An Analysis of the vision Statement of Walgreens
Walgreens is among the largest drugstores chains in the US with more than 8,000 of its stores operational across the 50 states. In 2014, it realized its strategic combination with the alliance boots to form the Walgreens Boots alliance. This has brought together two big brands that have a global footprint and a large array of iconic brands. The two companies have more than a century’s experience in patient care and customer care. Today, it is a part of the Walgreen Boots Alliance’s retail pharmacy division. The combination of the two brands is focused on continuing a rich heritage of dedication and service. It has adopted a three pronged strategy to achieve this purpose and to prove its commitment.
The first is to offer ultimate convenience, second earn customer loyalty and the third is to deliver extraordinary customer and patient care. The overall strategy of Walgreens Boots Alliance can be understood through its three key statements that are its vision, purpose and values. Several companies have separate mission and vision statements and several of them have the same for mission and vision both. Walgreens also has a vision statement. Here is its analysis:
- Be the first choice for pharmacy, wellbeing and beauty – caring for people and communities around the world.
The vision/ mission statement of Walgreens is a simple on-liner whose central focus are its customers. However, it is more like a branding statement. It explains how the brand is trying to position itself as the best healthcare brand dedicated at patient care. There are three important elements in this statement. They are the product, the customers and CSR. The mission/vision statement first highlights the products/services sold by Walgreens Boots Alliance. Walgreens Boots alliance deals in three things – pharmacy services, healthcare and beauty. The next focus of the mission statement is the people or the customer and then CSR or the community responsibility. However, a very important thing about the mission and vision statements is that they must have specificity.
A mission statement explains what a company stands for or what it exists to achieve. A vision statement on the other hand explains the future of the brand and the position it is trying to achieve for itself in the industry. Mission is about the business and vision about its future. They also serve a critical function in guiding business strategy and decision making inside an organization. Managers must focus on whether their actions and decisions are aligned with the organizational mission and vision. Therefore they need to be specific. However, Walgreens’ Mission statement serves only a very small part of the story. It just gives a vague description of the brand’s business, its customer focus and its CSR. Apart from them, it does not provide any description of its market, competition or financial strength. Any and every brand loves to be popular, remain at the top and be called the best. However, this is a vague description for a future position for any brand and can be elaborated further. Apart from being made more specific the brand’s vision statement also needs to elaborate on the missing points.
Apart from the vision statement, there are the purpose and values of the brand that you must review to better understand the strategic focus of the brand. Below is a discussion of Walgreens’ values and purpose.
Purpose statement:
- We help people across the world lead healthier and happier lives.
The purpose statement of Walgreens is all about its customer focus. Health is happiness and that is the central focus of the brand. Its focus is to help people leave more healthy and happy lives.
Our values :
The core values are an important part of the business strategy at Walgreens that guide everyday business, strategy and decisions at Walgreens.
Walgreens Boots Alliance takes seriously its aim of inspiring a healthier and happier world, as reflected in our core values:
Trust: Trust is an important value guiding Walgreens’ business. Actions and decisions at Walgreens Boot Alliance are guided by respect, integrity and candor.
Care: A commitment to and passion for care are equally important beliefs at Walgreens.
Innovation: Another important value guiding action and decision at Walgreens. The staff adopts an open and entrepreneurial mindset. New ideas are welcomed and a culture of innovation is nurtured at Walgreens.
Partnership: Collaboration is also an important value at Walgreens and striking a long term partnership is a central focus.
Dedication: Dedication is important to deliver results. They work with rigor, simplicity and agility to deliver exceptional results.
Sources:
https://www.walgreensbootsalliance.com/about/vision-purpose-values/
Abhijeet Pratap is a passionate blogger with seven years of experience in the field. Specializing in business management and digital marketing, he has developed a keen understanding of the intricacies of these domains. Through his insightful articles, Abhijeet shares his knowledge, helping readers navigate the complexities of modern business landscapes and digital strategies.