CVS Research

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CVS Research
Contents TOC \o "1-3" \h \z \u Excutive Summary PAGEREF _Toc25274010 \h 3Case Statement: PAGEREF _Toc25274011 \h 3Vision and Mission Evaluatin: PAGEREF _Toc25274012 \h 3Milestones: PAGEREF _Toc25274013 \h 3Organization Background PAGEREF _Toc25274014 \h 4Reccommendations PAGEREF _Toc25274015 \h 7References8
Executive Summary
Case Statement:
CVS Pharmacy is a national company that has been in high competition with companies in the same industry and has a great challenge of keeping up with the consumer expectations that keep changing.
Vision and Mission Evaluation:
The mission and vision of CVS pharmacy can add some parts so as to be stronger. This is including self-concept, customers, philosophy, products and services the public image concern and the issues and concern of its employees. Notably, for the vision and mission of the company to be a bit more effective and get to meet a strong statement of the mission criteria for the company, it should add the number of markets and its concern for growth, survival and profitability.
Milestones:
The first CVS store that was selling beauty and health products was founded in Lowell Massachusetts by two brothers Sidney and Stanley Goldstein and a partner by the name Hoagland in 1963.In the year 1967, CVS begun the operation of its first stores with pharmaceutical departments where it also opened locations in Rhode island, Cumberland and Warwick and in 1991 it launched refills for online prescription.
Generic drugs demand increase and the aging population are the two most important noted factors when it comes to the external factors. Basically, the population of the aging will be needing more prescribed medications. This will make customers in large numbers to come to the CVS locations and use their pharmacies so as to get the prescribed medicines. Additionally, the demand of generic drugs will attract more customers because CVS has its own brand in some of its medicine and also have a lot of medicines from other brands that the customers can buy with no need to go to the doctors for them.
Organization Background
CVS pharmacy first opened their store in 1963 and since then they have had a steady market performance that is strong in the clinic health industry. They have achieved this through focusing more in their commitment in creation of a better future and customer service in health care. The CVS pharmacy offers three services to its customers which include, minute clinics, retail pharmacy and PBM pharmacy Benefit Management. The dominate success of CVS in the industry has changed the company into one of the greatest health care providers in the U.S.A.
In 1969, the company was sold to Melville corporation. Five years down, CVS had achieved greater sales totaling to $1million annually. In 1978, CVS made a choice of having to be differentiated from competition where it opened small beauty and health store in malls that were enclosed. Notably, in 1996, the CVS corporation had become a company that was trading publicly in the NYSE under the ticker of CVS and Stanley Goldstein as its first chairman. The first online pharmacy website of CVS was launched in the United States as CVS.com. In 2...