Mission Statement, Vision, & Core Values (2024) of Walgreens Boots Alliance, Inc. (WBA).

An Overview of Walgreens Boots Alliance, Inc. (WBA)

General Summary of Walgreens Boots Alliance, Inc. (WBA)

Walgreens Boots Alliance, Inc. (WBA) has a rich history that dates back to 1901, when Walgreens was founded in Chicago. The company evolved through significant mergers and acquisitions, notably the merger with Alliance Boots in 2014, which expanded its global reach. As of 2024, WBA operates over 8,572 retail locations worldwide, offering a wide range of products and services including prescription drugs, health and wellness products, beauty items, and various consumer goods.

In fiscal 2024, WBA reported total sales of $147.7 billion, marking a 6.2% increase from the previous year. The company's diverse business segments include U.S. Retail Pharmacy, International, and U.S. Healthcare, with a significant focus on pharmacy services and health-related offerings.

Company's Financial Performance in the Latest Financial Reports

In its latest financial report for fiscal 2024, Walgreens Boots Alliance reported:

The increase in sales was primarily driven by pharmacy sales, which rose by 8.2% in fiscal 2024. However, the company faced a significant operating loss due to a $12.7 billion impairment of goodwill, reflecting challenges within its U.S. Healthcare segment and ongoing reimbursement pressure.

Introduction to Company as a Leader in the Industry

Walgreens Boots Alliance is recognized as one of the leading companies in the global pharmacy and retail healthcare sector. The company's extensive network of retail stores and healthcare services positions it as a key player in delivering health solutions to millions of customers. With a commitment to innovation and improving health outcomes, WBA continues to adapt to the evolving healthcare landscape, leveraging its scale and expertise to drive growth in both retail and healthcare segments.

As of 2024, WBA remains focused on enhancing its operational efficiency and expanding its market presence, ensuring that it meets the needs of its diverse customer base effectively. For more detailed insights into the company's strategies and performance, further exploration of its operational segments is recommended.

Mission Statement of Walgreens Boots Alliance, Inc. (WBA)

Mission Statement of Walgreens Boots Alliance, Inc. (WBA)

The mission statement of Walgreens Boots Alliance, Inc. (WBA) is to be the leading pharmacy-led health and wellbeing company, committed to providing high-quality, accessible healthcare services and products to customers around the globe. This mission is integral in guiding the company's strategic direction and operational focus, ensuring that all business decisions align with its core purpose of enhancing health and wellbeing.

Core Component 1: Quality Healthcare Services

Walgreens Boots Alliance prioritizes the provision of quality healthcare services as a cornerstone of its mission. In fiscal 2024, the company filled approximately 796 million prescriptions, which is equivalent to 1.2 billion adjusted 30-day equivalents. This volume underlines the company's significant role in the healthcare landscape, particularly within the U.S. retail pharmacy segment where pharmacy sales constituted 76.8% of total segment sales.

The company also emphasizes its commitment to public health through its participation in government programs. For instance, sales related to Medicare Part D and Medicaid contributed approximately 29% and 5% respectively to the fiscal 2024 pharmacy sales. This involvement not only broadens access to essential medications but also reinforces the company's mission to promote health equity.

Core Component 2: Accessibility of Products

Accessibility is a vital aspect of Walgreens Boots Alliance's mission. The company operates 8,572 locations as of August 31, 2024, providing widespread access to pharmacy and retail services. The myWalgreens loyalty program, which has attracted approximately 124 million members, further enhances customer engagement and access to tailored health solutions.

Moreover, WBA has been proactive in expanding its digital offerings, such as the Walgreens Find Care platform, enabling customers to connect with telehealth services conveniently. This strategic focus on digital transformation is crucial in meeting the evolving needs of customers, particularly in a post-pandemic environment where remote access to healthcare has become increasingly important.

Core Component 3: Commitment to Wellbeing

Walgreens Boots Alliance's mission encompasses a strong commitment to overall wellbeing. The company has integrated wellness into its business model, offering a wide range of health and wellness products alongside traditional pharmacy services. In fiscal 2024, the company reported sales of $147.7 billion, indicating a robust demand for both prescription and non-prescription health products.

Additionally, the company's strategic initiatives include the Transformational Cost Management Program, which was expanded to achieve annual cost savings of $4.5 billion by the end of fiscal 2024. This focus on operational efficiency not only supports the company's financial health but also enables reinvestment into customer-centric services and products that enhance the overall wellbeing of its customers.

In summary, Walgreens Boots Alliance's mission statement articulates a clear vision focused on quality healthcare services, accessibility, and a commitment to overall wellbeing. The company's strategic initiatives and operational metrics reflect its dedication to fulfilling this mission while navigating the evolving healthcare landscape.

Vision Statement of Walgreens Boots Alliance, Inc. (WBA)

Vision Statement Overview

The vision statement of Walgreens Boots Alliance, Inc. (WBA) as of 2024 focuses on becoming the world's leading pharmacy-led health and wellbeing enterprise. This vision emphasizes patient care, community health, and the integration of healthcare services.

Patient-Centric Care

WBA's vision includes a strong commitment to patient-centric care, aiming to enhance the health outcomes of the communities it serves. The company is focused on providing accessible healthcare services through its extensive network of pharmacies and clinics.

In fiscal 2024, WBA reported a total of 1.2 billion prescriptions filled, with 30-day equivalent prescriptions increasing by 2.0% compared to the previous year.

Innovative Healthcare Solutions

WBA is dedicated to integrating innovative healthcare solutions into its service offerings. This includes leveraging technology to improve patient experiences and streamline operations.

In the U.S. Healthcare segment, sales increased to $8.3 billion, up from $6.6 billion in 2023, driven by the acquisition of WP CityMD TopCo and growth in VillageMD.

Community Engagement and Accessibility

WBA aims to enhance community engagement and ensure that healthcare services are accessible to all. This is reflected in the expansion of its retail pharmacy and health services across various demographics.

Sales from the U.S. Retail Pharmacy segment reached $115.8 billion in fiscal 2024, with pharmacy sales accounting for 76.8% of the segment's sales.

Global Leadership in Health and Wellbeing

WBA is working towards establishing itself as a global leader in health and wellbeing, focusing on sustainable practices and health innovations.

The company reported a 6.1% increase in total sales for fiscal 2024, reaching $147.7 billion. This growth is indicative of WBA's strategic initiatives aimed at enhancing its market position.

Conclusion of Vision Statement

In summary, Walgreens Boots Alliance's vision for 2024 is centered around becoming a leader in pharmacy-led health and wellbeing, with a focus on patient care, innovative healthcare solutions, and community engagement. The company's financial performance and strategic initiatives reflect its commitment to achieving this vision.

Core Values of Walgreens Boots Alliance, Inc. (WBA)

Integrity

Integrity is a fundamental core value at Walgreens Boots Alliance, Inc. (WBA). It emphasizes the importance of honesty and transparency in all business practices.

In 2024, WBA demonstrated its commitment to integrity through various initiatives, including the establishment of a comprehensive compliance training program for employees. This program focuses on ethical decision-making and legal compliance, ensuring that all team members understand the importance of acting with integrity in their roles.

Moreover, WBA has made strides in improving its corporate governance framework, enhancing its reporting and accountability mechanisms. The company’s commitment to integrity is further reflected in its ongoing efforts to address and resolve opioid-related claims, investing over $7 billion in settlements as part of its strategy to foster trust with stakeholders.

Customer-Centricity

Customer-centricity is at the heart of WBA's operations, driving the company to prioritize customer needs and preferences in every aspect of its business.

In fiscal 2024, WBA launched a new digital health platform that integrates pharmacy services with healthcare management, allowing customers to access their prescriptions, schedule vaccinations, and receive health advice more conveniently. This platform has already seen a 15% increase in user engagement compared to the previous year.

Additionally, WBA has expanded its immunization services, administering over 20 million vaccinations in the past year alone, reflecting its dedication to enhancing customer health outcomes and accessibility.

Innovation

Innovation is a critical core value for WBA, fostering a culture that encourages creativity and the development of new solutions to meet evolving healthcare needs.

In 2024, WBA invested approximately $1.5 billion in technology and infrastructure enhancements aimed at streamlining pharmacy operations and improving patient care. This includes the implementation of AI-driven analytics to optimize inventory management and reduce wait times for customers.

The company also introduced several new health services, such as telehealth consultations through its Walgreens Health platform, which has gained traction with over 500,000 consultations conducted in the first half of 2024.

Respect

Respect underpins WBA's workplace culture, promoting diversity, equity, and inclusion across all levels of the organization.

In 2024, WBA launched its “Diversity and Inclusion Strategy,” aimed at increasing representation of underrepresented groups within its workforce. As a result, the company achieved a 12% increase in minority representation in leadership roles.

Moreover, WBA’s Employee Resource Groups (ERGs) have expanded, supporting various communities and fostering an inclusive environment. The company reported that over 30% of employees participated in ERGs in 2024, reflecting a strong commitment to respect and collaboration.

Accountability

Accountability is a core value that drives WBA to take ownership of its actions and their impact on stakeholders.

In 2024, WBA aimed to enhance its accountability measures by implementing a new performance management system that aligns employee objectives with company goals. This system ensures that all employees are accountable for their contributions to the company’s success.

The company also published its annual sustainability report, outlining progress on environmental and social initiatives, and setting clear targets for future performance. This transparency in reporting is a testament to WBA’s commitment to accountability.