ns’ sales are still larger than those of CVS, but not by much. Being that CVS is ranked the number two drugstore chain, it is hot on the heels of Walgreens. This source of competition is not to be taken lightly. CVS is positioned as a threat that could potentially steal the number one spot from Walgreen Company if they are not careful. Walgreen Company plans to overcome this threat by implementing their growth strategy. The number one drugstore chain is continually searching for new markets and opening new stores.As far as the other possible threats out there, Walgreens is not worried at the moment. The economy is booming and there are no signs of a recession in the near future. Consumers will always need pharmacies to fill their prescriptions, so as long as the company keeps up with the technology of the Internet and remains customer oriented, they should be fine. The management seems to have done a good job thus far finding and overcoming the threats of the drugstore industry. Summary of External Opportunities and ThreatsThe preceding paragraphs explained the opportunities and threats that Walgreen Company has encountered in the recent past and future. If not taken seriously the opportunities could be passed by and the threats could result in the loss of market position or market share. To reiterate:Opportunities The industry has a growing number of drugstores. Walgreen Company plans to use a growth strategy to increase the number of stores. The new on-line pharmacy. Walgreens is keeping up with the technology and plans to provide services on-line for convenience. The promotion of beauty products. This diversity in products has become very important to the sales revenue of Walgreen Company. Walgreen is taking advantage of that by remodeling the beauty department in all of the stores. The merging of the eleven companies to form the WorldWide Retail Exchange. This merger will not onl...
