A formal, in-depth analysis requires you to utilize the entire strategic managem

Question

A formal, in-depth analysis requires you to utilize the entire strategic management process. Assume you are a consultant asked by the CVS Health Corporation to analyze its external/internal environment and make strategic recommendations. Address the following:

(a) What are CVS Health Corporation's Existing mission statement, objectives, and strategies? (Note: Be sure to discuss each separately)

(b) Develop a new mission statement the below 9 components. (Note: Be sure to put a number by the component it is addressing)

1. Customers: Who are the firm’s customers?

2. Products or services: What are the firm’s major products or services?

3. Markets: Geographically, where does the firm compete?

4. Technology: Is the firm technologically current?

5. Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness?

6. Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

7. Self-concept: What is the firm’s distinctive competence or major competitive advantage?

8. Concern for public image: Is the firm responsive to social, community, and environmental concerns?

9. Concern for employees: Are employees a valuable asset of the firm?

Explanation / Answer

CVS health is an American pharmacy and health care company with a wide network base.

Mission- To improve the lives of patients by providing them innovative and high quality health and pharmacy services for better care of their health and all at an affordable price.

Objective- -tohelp people on their path to better health

-to provide quality health care

- service at low price

-innovatition in products and services

Strategy-

For reinventing pharmacy in helping people on their path to better health, they have fixed their strategy to cover

-retail pharmact

-Retail clinics

-Infusion services

-Long term care pharmacy

-Medical claim editing

-clinical programs

-Speciality pharmacy

-Rx Benefits management

New Missionn statement

the new mission is " CVS at Home" i.e. to make accessible the services at the door step of the client or patients

1.Customers- the customers will be those having busy professional as well as personal life

-do not have time for maintaining health

-Unaware of available services of CVS

Product & Services-

-will provide health check up at home as a part of Minute clinic for minor health care services

- providing medicine and medical equipments for maintaining health

Market-

- metro cities

-Populous markets

-Educated public those understand the value of services at door step

Technology-

Logistic arrangements reach the CVS services to customer's point

Concern for survival, growth and profitability-

its a lucrative proposal as customer has no time for health check up and we can charge more as provided at door step

philosophy- create psycological satisfaction in customers

self-concept- will develop

Concern for public image- Will create brand image in customers

Concern for employees- Employees will get more oppotunities to serve public, more package

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.