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strategic plan for a pharmacy chain.

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Prepare a draft of a strategic plan for a pharmacy chain.

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Solution Summary

This first step in this process will be the complete evaluation of external and internal environment of the pharmacy chain. This can be done by conducting a Porter's five forces analysis or SWOT analysis.

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Draft strategic plan for a pharmacy chain:

We will proceed on this assignment by taking the kep elements of strategic management process.

1) Environmental scanning: This first step in this process will be the complete evaluation of external and internal environment of the pharmacy chain. This can be done by conducting a Porter's five forces analysis or SWOT analysis. In the porter's analysis, you can mention about the competition from existing chains like CVO. Also, industry scenario in terms of growth rate in sales etc. can be mentioned. The trends in the healthcare industry can also be mentioned in this section. Basically, this analysis is conducted to know about the feasibility of the business. This analysis will prepare a background on deciding the specific positioning and core strategy of the pharmace chain. The background for answering questions such as whether it should be a upmarket chain or mass market chain, big store or small store etc. will be prepared in this section.

2) Strategy Formulation:
This section will focus on proposed mission and vision statement of the pharmacy chain, its core starategies in terms of positioning in the market and industry, ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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