Home
>
Strategic Planning
>
Invalid Excuses for Poor Business Results - The Economy

Invalid Excuses for Poor Business Results - The Economy

Note to Rite Aid and CVS: It's not about the economy

When Bill Clinton successfully unset the first President Bush, he focused on a sign in his Little Rock office: "It's the Economy, Stupid". His point was to focus his campaign on economical issues. Although the president has an impact on the economy of the nation as a whole, blaming the economy for poor sales or lost profits is nothing more than unmerited whining.

In the state of Michigan, unemployment was the highest in the nation. At the same time, job growth was the lowest. This is not an economic scenario that normally leads one to invest heavily in a market.

CVS and Rite Aid decided to ride out Michigan's economic storm, setting aside little capital to revitalize or grow their Michigan stores. Although seemingly an intelligent viewpoint, it does not display a passion to compete and grow over the long haul.

Walgreen's Pharmacy saw Michigan through a different paradigm. They saw the opportunity to invest heavily in the state, taking advantage of the weak economy and depressed prices. Rochester Hills, Michigan, is an example of Walgreen's strategy. Only a few years ago, this city of 70,000 did not have one of their stores. By 2006, Walgreen's will complete a strategy to have four stores within city limits. The strategy was to locate stores using a parameter mentality, and a merchandise mix recognizing the local economy.

Both CVS and Rite Aid have experienced lost market share, greater than the increase in competition. Neither chain is growing in Rochester Hills, although CVS did move one store from the center of a strip shopping center to a new location in the parking lot.

According to high-ranking sources in Walgreen's Michigan region, there is a strong belief that by moving in now with the right merchandise mix and locations, the chain will be strongly positioned once the Michigan economy rebounds.

Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen's sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times, and position yourself to thrive once the economy rebounds, or your competition succumbs on their unsuccessful pathway of survival.

Many Michigan-based companies are finding ways to attract out-of-state customers. At Max Impact, a human potential development company has made two strategic moves to thrive despite local economic conditions. The company has aligned itself with Macomb Community College to offer online customized corporate training programs, carrying CEU credits for the participants. They have also increased marketing of executive and professional coaching, which is done via the telephone, outside of Michigan. While many of their competitors struggle, the Max Impact is seeing double digit sales and profit growth.

It's not about the economy. It is about seeing the total business environment and developing a strategy to position for the present and future.

Rick Weaver is President of Max Impact, a national leadership and organization development company based in Rochester Hills, Michigan. Rick is an accomplished business executive with experience in retail, market analysis, supply chain and project management, team building, and process improvement. He has worked with hundreds of companies to improve sales, processes, and bottom-line results. MaxImpact offers leadership and organizational development services along with employee assessments and background checks. Contact Rick at 248-802-6138 or via email, rick@getmaximpact.com. MaxImpact is on the web at rick@getmaximpact.com

Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’Hare

In The News:

Modeled after a traditional bell-shaped skirt worn by women in Kosovo, a theater's roof is draped entirely by solar panels to generate renewable energy on-site.

Kurt the CyberGuy explains how to protect yourself from malicious Chrome extensions that can steal sensitive information like password managers, crypto wallets and banking apps.

Stellantis' innovative STLA AutoDrive 1.0 system allows drivers to safely take their eyes off the road and their hands off the steering wheel.

Here are some travel hacks to save money on your next vacation including setting up price alerts, remaining flexible and checking for 24-hour price drops.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

One report claims at least 25 million people were targeted by infostealer malware between the beginning of 2023 and the end of 2024, capturing bank card details and passwords.

The LaserWeeder G2 uses lasers, artificial intelligence and advanced robotics to offer an alternative to chemicals traditionally used in farming.

Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.

Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.

Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.

Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.

Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.

WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds

Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.

A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.

A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.

Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.

Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.

Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.

Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.

New malware "FrigidStealer" targets Mac computers. Tech expert Kurt “CyberGuy" Knutsson offers four ways to stay safe from infostealer malware.

Invalid Excuses for Poor Business Results - The Economy

Strategic Planning