The first strategy I would implement to address Chapter 11 bankruptcy is to increase revenue and attract customers. To do this, I would first create a quantifiable goal for the year and track progress quarterly (Indeed, 2023). The second step would involve targeting repeat and former customers with a revamped membership benefits program. I would conduct an analysis reviewing what benefits customers used the most the past year, then implement more of those benefit types and cut the excess within one business quarter. The last step to increase revenue and attract customers would involve increasing the technology Rite Aid uses (Kim, 2023). During the next year, I would optimize the website to be user-friendly and include online ordering and prescription delivery. The second strategy to address Chapter 11 Bankruptcy is having a reorganization plan in place (Kennedy, 2020). I would first audit the organization to see where it currently stands. The second step to reorganization includes renegotiating debts, selling assets, and conducting operational changes (Intoo, 2023). The audit would take place immediately with the changes in operations and renegotiations following within the next six months. The last strategy to address Chapter 11 bankruptcy is building trust with stakeholders. Building trust with stakeholders will be accomplished by communicating clearly and openly starting on day 1.
The next key strategy to address is the reorganization of the company. The steps to address reorganization have already been laid out as the second strategy to address Chapter 11 bankruptcy.
Large amounts of debt are the next key strategy to address. The first strategy I would use to reduce debt is exploring options to reduce the debt burden. I would accomplish this by first renegotiating and restructuring loans with current lenders (Ough, 2020). I would set a goal to have this accomplished within two business quarters. The next strategy I would use to reduce the debt burden is to manage accounts receivable (Ough, 2020). Within one business quarter, I would address payments that are owed and seek shorter payment terms. The last strategy I would use to reduce the debt burden is looking at creative options with suppliers and vendors (Ough, 2020). I would see if there was a way to negotiate a deferred risk-sharing payment arrangement based on product sales. The second strategy I would use to address large amounts of debt is improving operational efficiency. To increase efficiency, I would first focus on store employees and make sure that appropriate training is in place. I would allocate one business quarter to evaluating and creating a new training process and one business quarter to implement the new training. The next step I would take to improve efficiency is to optimize deliveries (Relex, 2023). I would accomplish this by evaluating the supply chain and selecting low-traffic days for deliveries. The last step to improve efficiency is by optimizing space in stores (Relex, 2023). In the next two months, I would reorganize the aisles and shelves to better serve customers and alleviate stocking issues for employees. 
The opioid lawsuits are the next key strategy that Rite Aid needs to address. The first strategy I would use to address the lawsuits is seeking legal advice from experts. Immediately, I would seek help from lawyers who have experience in lawsuits that deal with the pharmaceutical industry, the Department of Justice, and large corporations. By seeking legal advice Rite Aid would have a better understanding of its legal obligations allowing the development of appropriate strategies. The next strategy to address the opioid lawsuit is to cooperate with authorities. Cooperating with authorities can be done by collaborating with relevant law enforcement agencies, regulatory bodies, and others involved in the legal proceedings (Rogers, 2023). This will allow Rite Aid to promote transparency, build trust, and work towards a resolution. The last strategy I would implement to address the opioid lawsuits is to prioritize compliance with relative laws and regulations. By showing immediate adherence to laws and regulations, Rite Aid can show its commitment to practicing responsibly and patient safety. Implementing internal controls, conducting regular audits, and providing training to employees within one business quarter are all ways I would prioritize compliance. 
The next key strategy issue to address is the high competition from competitors. The first strategy I would use to address competition is to differentiate through unique product offerings (Kennedy, 2020). To accomplish this, I would conduct market research to identify customers' needs and develop new products to fulfill those needs. I would give the firm six months to conduct the market research and another six months to create the new product offering. The next strategy I would use to address competition is to prioritize customer experience (Kennedy, 2020). I would focus on offering employee training and development programs to deliver exceptional customer service. This would be developed and implemented within one calendar year. The next strategy I would use to address competition is leveraging technology to improve convenience and efficiency (Kim, 2023). Within the next calendar year, I would optimize ordering systems, improve mobile applications, and offer home delivery services. These additions can help to attract and maintain customers.
Slumping sales is the next key issue Rite Aid is facing. The first strategy I would use to combat this is to evaluate customer feedback (Kennedy, 2020). I would create an incentive printed on receipts for customers to take a survey and receive a coupon. This survey would gather key information on what changes need to take place. I would give the company 2 months to create the survey and start the receipt printing incentive. The next strategy I would use to address slumping sales is investing in employee training (Kennedy, 2020). As mentioned in addressing high competition, I would implement employee training and development programs within one calendar year. Offering exceptional customer service can attract and retain customers creating an increase in sales. The last strategy I would use to address slumping sales is revamping marketing strategies (Kennedy, 2020). I would do this by once again conducting marketing research to create ways to better reach the target audience, increase brand visibility, and attract more customers. Developing targeted advertising campaigns will be accomplished within six months.
A damaged reputation is the next key issue that Rite Aid needs to address. The first strategy I would implement would be to rebuild trust and credibility with stakeholders (Van Zyl, 2023). I would accomplish this by initiating clear communication starting on day 1. I would make sure to publicly offer communication with customers, employees, investors, and the public by way of the Rite Aid website and emails. I would give quarterly updates to make sure everyone is in the know of Rite Aids operations. The second strategy I would use to address a damaged reputation is engaging with the community (Van Zyl, 2023). Within one month I would create a public forum where stakeholders can post questions that can be addressed within one business day. The last strategy I would use to address a damaged reputation is leveraging positive public relations opportunities (Van Zyl, 2023). Highlighting Rite Aids’ charitable giving and hands-on service will remind communities of Rite Aids’ positive attributes. The Rite Aid Foundation, KidsCents program, and annual campaign for Children’s Miracle Network Hospitals will be publicized locally whenever events occur (Rite Aid, n.d.).
The last key issue that Rite Aid needs to address is keeping up employee morale during this transitive time. The first strategy I would use to increase employee morale is prioritizing employee engagement and communication during the reorganization (Van Zyl, 2023). Within one month I would create a survey for employees to fill out to determine their input and address their concerns about the reorganization. I would also make a section of the stakeholder portal available to address employee concerns and questions. The next strategy I would use to lift employee morale is offering recognition and rewards (Kennedy, 2020). Within the next three months, a new employee recognition program would be rolled out. This recognition program would include performance-based incentives, regular feedback, and praise for above and beyond work. Having these incentives in place will lead to happier, more engaged, and motivated workers. The last strategy I would use to improve employee morale would once again be training and professional development opportunities (Kennedy, 2020). Having a valued staff that knows what is expected of them will increase employee morale.