A Strategic Management Case Study on CVS Caremark Corporation By: Carter Vaillancourt‚ Megan Land‚ and Emily Michaud UMFK Company Overview •A brief history of CVS •Existing Mission and Vision •Existing Strategies •New Mission and Vision Overview External Assessment •Industry Analysis •Opportunities and Threats •EFE Matrix •CPM Matrix Internal Assessment •Organizational Structure •Strengths and Weaknesses •Financial Condition •IFE Matrix Strategy Formulation •SWOT Matrix •Space Matrix •Grand
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CVS: The Web Strategy History‚ Development‚ and Growth Established in 1963‚ Consumer Value Store (CVS) was founded by brothers Stanley and Sidney Goldstein and business partner Ralph Hoagland in Lowell‚ Massachusetts. CVS began the operation of its first stores with pharmacy departments in 1967‚ opening locations in Warwick and Cumberland‚ Rhode Island. In 1984‚ CVS/pharmacy became the 15th largest pharmacy chain in the U.S. with 408 stores and $414 million in sales. With growing success CVS
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pharmacy service‚ specialty pharmacy services‚ plan design and administration‚ formulary management and claims processing. CVS also possesses in store health clinics called MinuteClinics. In 2011‚ CVS employed approximately 211‚000 people in 44 states‚ the District of Columbia and Puerto Rico. They have 7‚025 retail stores‚ 569 MinuteClinic locations‚ 49 retail pharmacy stores‚ 18 mail order pharmacies‚ 6 mail service pharmacies‚ CVS.com and Caremark.com websites. Their vision is to improve the quality
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reinventing pharmacy and providing medical care‚ but that last‚ stand-alone sentence says it all…Health is Everything. Primary products/services - CVS Health is healthcare company with several main subsidiaries: CVS Pharmacy‚ Caremark‚ Specialty‚ and MinuteClinic. CVS Pharmacy is the retail pharmacy sector of CVS Health‚ with nearly 10‚000 stores and filling 1 out of every 5 prescriptions‚ it is one of the largest retail pharmacies in the United States. (CVS Health‚ 2016) The pharmacies loyalty program
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implemented a leadership team comprised of talented and diverse leaders who’s abilities makes the company a leader among retail and specialty pharmacies in the United States. CVS Caremark divides the company into a Business Unit that consists of MinuteClinic‚ Pharmacy Benefit Management and Retail Pharmacy. Leadership‚ defined as influencing individual and group activities toward goal achievement. Executive leadership is a key component to the success of CVS Caremark. CVS Caremark
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CVS Caremark: A Case Analysis Current Situation CVS Pharmacy is the retail division of CVS Caremark. It is also one of the largest Pharmacy Retail Chains in the country and operates more than 7‚400 stores domestically. Although the retail pharmaceutical division of this corporation accounts for a significant amount of this company’s success‚ CVS Caremark focuses more on its corporate strategy to compete with other industry rivals such as Walgreens and Rite Aid. Considering CVS Caremark is the
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and successful company. 2. Business Model definition: A successful business model has three components a. Customer value proposition - The model helps customers perform a specific job that alternative offerings don’t address. (Ex: MinuteClinics enable people to visit a doctor’s office without appointments by making nurse practitioners available to treat minor health issues.) b. Profit formula - The model generates value for your company through factors such as revenue model‚
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Living a life of a household of four could be challenging if the family’s social class is a lower middle class. However‚ it is a great place to live if the family is part of the higher middle class or upper. The price of housing is approximately $50‚000 more than Chicago and $100‚000 more than Illinois. Besides that‚ the cost of living is 19% higher than Chicago and 18% higher than national average. Therefore‚ Hyde Park is a pretty high class area! There are various child care around Hyde Park‚ which
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References: Commuity Health Systems‚ Inc. (2015). Making a Difference. Retrieved June 7‚ 2015‚ from www.chsica.org/aboutUs.htm CVS. (2015). Why Choose Us. Retrieved June 7‚ 2015‚ from http://www.cvs.com/minuteclinic/why-choose-us?WT.ac=MC-M-MCS-GENERIC_NP_SLIDE_-X-50415-X-OP United States Census Bureau. (2015‚ April 22). Moreno Valley (city) QuickFacts from the US Census Bureau. Retrieved June 7‚ 2015‚ from http://quickfacts.census.gov/qfd/states/06/0649270
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Rite Aid Corporation (Case 22) The following is a general environmental analysis of the Rite Aid the business sector of the retail pharmacy industry‚ with an analysis of Rite Aid. The first section of this report will cover an overview of the trends in technology demographics‚ economics‚ political/legal‚ and social/cultural-global. The second section of this report will cover porter’s five forces‚ Competitive analysis‚ internal analysis and alternative strategies. Technology: Smartphones
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