Rite Aid Case Study

807 Words2 Pages

Introduction
In 1962 Rite Aid opened its first store called the Thrift D Discount Center which ended up growing rapidly and in 1968 changed its name to Rite Aid Corporation (David & David, 2015, pg. 400). Rite Aid Corporation is considered to be the third largest drugstore in the US amongst its competitors with over 4,000 drugstores. Walgreens, CVS Caremark, and Mail-Order Drugstores are Rite Aid’s competition. Just like any other organization, Rite Aid does have some internal and external issues. Those internal and external issues would need some improvement in order for the organization to stay competitive against its competitors in the future.
Internal and external issues
Rite Aid, like any other organization, has some internal and external issues. Rite Aid’s internal and …show more content…

One tool that can be used to measure business success is the balanced scorecard. The balanced scoreboard is a tool that is used to manage and evaluate strategies from four perspectives: financial performance, customer knowledge, internal business processes, and learning and growth (David & David, 2015, pg. 291). The balanced scorecard could help Rite Aid with identifying what areas of the organization that needs to be monitored more closely as well as what areas needs some improvement. For example, the customer perspective can be used to gain knowledge on what the customers’ needs and wants are. Another tool that Rite Aid could use is a SWOT analysis. A SWOT analysis is a tool that is used to match organization’s internal strengths and weaknesses with external opportunities and threats (David & David, 2015, pg.169). With a SWOT analysis, Rite Aid could pinpoint exactly what their strengths and weaknesses are. Rite Aid could then take advantage of their strengths that could lead to possible opportunities and work to improve their weaknesses so that the threats could be

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