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Essay on Walgreen Management
Traditionally, Walgreen has shunned that practice. It hasn't made a significant acquisition in 14 years. Instead, the company favors opening its own stores on prime street corners with lots of drive-by traffic. It would be impossible to tell the story of Walgreens drugstores without telling the story of Charles R. Walgreen, Sr. the man who started it all. Walgreen was born near Galesburg, Illinois, before his family relocated to Dixon, Illinois - a town 60 miles north of his birthplace - when his father, a farmer turned businessman, saw the great commercial potential of the Rock River Valley. It was here that Walgreen, at the age of 16, had his first experience working in a drugstore, though it was far from a positive one. Working at Horton's Drugstore (for $4 a week) was a job he took only because of an accident that left him unable to take part in sports.
While working in a local shoe factory, Walgreen accidentally cut off the top joint of his middle finger, ending his athletic competition. Were it not for the accident, Walgreen might never have become a pharmacist, business owner and phenomenally successful entrepreneur. Ironically, his initial experience working at Horton's was itself a failure. Walgreen left after just a year and a half on the job.
In 1993, Walgreen Co. told Joe Resendez it was closing the Walgreens drug store he managed in a Pasadena, Texas, strip mall and opening a bigger one at a better spot: across the street. Three years later, Walgreen closed that store and opened another one. It was on another corner of the same street, a couple of blocks away. Such obsession with store location has served Walgreen well. While competitors have been gobbling up other companies to expand and big retailers such as J.C. Penney Co....
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