Walgreen is regarded to be the second largest pharmacy store chain in the U.S. Research was conducted and was used to build the following SWOT analysis table:
Based on the above SWOT analysis, the weakness selected is Walgreens overpricing allegations. The company was chosen because the Walgreen business chain model is based on accessibility and affordability (FDA News, 2018). Therefore, the act of overpricing some of its products will be a violation of the business model. To best evaluate this weakness and turn it into a strength, a team will be required instead of a group. A group is defined as an assembly of people with shared traits or situations. On the other hand, a team is a structured and organized assemblage of individuals selected based on their skills or expertise who work toward realizing a specific team goal. A team was selected because it entails applying special skills and knowledge possessed by each member to realize the common goal, which is to create a favorable pricing strategy for Walgreens. Moreover, it holds the advantage that interpersonal understanding between team members is higher than between group members; therefore, there will be fewer conflict occurrences. Conflict management in a team is also more robust than in a group.
The pricing team will constitute people understanding the pricing system embraced in greens and how it influences the realization of the required goals. Second, since pricing affects most departments within a company, especially the sales, marketing and finance, the team members selected should be skilled and experienced in these spheres. Members from sales will offer input on how actual discussions with prospects are proceeding, mostly in price quotations. Those from marketing will offer customer demographic data. Lastly, those from finance will offer insight into price changes based on the budget and a growth perspective. Nevertheless, the team leader should be from the product or marketing department. This is because most product and marketing directors have sufficient experience in customer development and often think objectively of the company as a whole.
Since the conflict between team members is inevitable, it must be dealt with appropriately as this might either work for the team or against it (Organizational behavior, 2017). If a conflict arises amongst the pricing team members, it will be necessary for the team to delineate the facts, assumptions, and beliefs associated with the conflicted parties’ viewpoints and reach a workable solution.
References
Organizational behavior [eBook edition]. (2017). University of Minnesota Libraries Publishing Edition. Web.
FDA News (2018). Court rules Walgreens must face most claims in generics overcharging class action. Web.