Written Assignment 5: Walgreens' Modes Of Entry Into An Inte

Written Assignment 5 Walgreensmodes Of Entry Into An International

Written Assignment #5: Walgreens modes of entry into an international market are the channels which organizations employ to gain entry to a new international market. Within our Thompson (2020) text, read Chapter 7 Assurance of Learning Exercise #2 related to Walgreens’ mode(s) international market entry and respond to the following questions: What was Walgreens’ entry strategy designed to achieve? Why would this make sense for a company like Walgreens? Provide two recommendations on what Walgreens might do differently going forward with their entry strategy? Make sure you support your recommendations? Incorporate our coursework (Thompson text and other material) from this week into your above responses. Need Plagiarism report.

Paper For Above instruction

Walgreens’ entry into international markets exemplifies a strategic approach aimed at expanding its brand presence and increasing revenue streams. According to Thompson (2020), Walgreens employed both acquisition and joint venture strategies to penetrate new markets, notably through its operations in markets such as the United Kingdom and Mexico. The primary objective of these strategies was to leverage existing market infrastructure and consumer reach to facilitate smoother entry and minimize risks associated with direct expansion. By doing so, Walgreens aimed to establish a foothold swiftly, gain competitive advantage, and avoid costly start-up processes.

Walgreens’ approach makes sound strategic sense for several reasons. First, the use of acquisitions allows for immediate access to established customer bases, distribution networks, and local market knowledge, which significantly accelerates growth. For example, its acquisition of Alliance Boots in Europe, which later rebranded as Walgreens Boots Alliance, provided a strong presence in multiple international markets with established supply chains and operational expertise (Walgreens Boots Alliance, 2020). Second, joint ventures enable Walgreens to collaborate with local firms that understand regulatory environments, cultural nuances, and consumer behaviors, reducing the uncertainty that often accompanies international expansion (Hill, 2019). Such alliances help mitigate risks related to unfamiliar legal systems and market dynamics, ultimately enhancing the likelihood of success.

However, looking ahead, Walgreens might consider several adjustments to enhance its international entry strategies. Firstly, the company could expand its focus on digital and e-commerce channels within international markets to complement brick-and-mortar strategies. As highlighted by KPMG (2021), digital healthcare and online retail are rapidly growing sectors, especially in regions with mobile penetration and internet connectivity. Integrating digital platforms would enable Walgreens to reach a broader audience and tailor offerings based on local preferences. Secondly, Walgreens should emphasize building strategic alliances with local health and wellness providers, beyond traditional retail partnerships. Collaborations with local pharmacies, healthcare clinics, or telemedicine providers could enhance service offerings, improve patient engagement, and foster brand loyalty in diverse markets (World Health Organization, 2020).

In conclusion, Walgreens’ international market entry via acquisitions and joint ventures was strategically designed to minimize risk while gaining rapid market access. This approach aligns with the company’s need for swift growth and local adaptation. Going forward, emphasizing digital integration and local healthcare collaborations could further strengthen Walgreens’ global footprint, ensuring sustainable growth in an increasingly competitive and digital-driven marketplace.

References

• Hill, C. W. L. (2019). International Business: Competing in the Global Marketplace. McGraw-Hill Education.
• KPMG. (2021). The future of retail: Digital transformation in healthcare and pharmacy. KPMG Insights.
• Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland, A. J. (2020). Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases. McGraw-Hill Education.
• Walgreens Boots Alliance. (2020). Annual Report. Walgreens Boots Alliance.
• World Health Organization. (2020). Global Strategic Directions for Universal Health Coverage 2021–2030. WHO Publications.