Business & Finance 7-2 Project Submission Assignment

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3-2 Milestone One Submission: Elevator Pitch

Cole Staats

Southern New Hampshire University

BUS-400 Driving Business Opportunities

Alan Marley

May 21, 2023

3-2 Milestone One Submission: Elevator Pitch

Introduction:

Greetings, esteemed members of the senior executive cohort. I am thrilled to introduce a novel initiative that will transform our pharmaceutical amenities at CVS Health Corporation. Our objective is to furnish superior, expedient amenities that enhance patient results and ultimately augment the well-being of our clientele. It is widely acknowledged that CVS Health currently holds a prominent position in the American pharmacy industry, boasting a market share of around 25% in terms of revenue generated from prescription drug sales (CVS Health, n.d). Nonetheless, we must not become complacent. We have discerned a prospective market prospect to augment our market portion and surmount competition by enhancing our pharmaceutical amenities.

How it Fits:

Our intended demographic comprises individuals belonging to the Generation X and Baby Boomer cohorts who possess substantial financial resources. These demographic cohorts are comparatively more susceptible to diverse health concerns and necessitate increased medical attention (Minemyer, 2023). By augmenting our pharmaceutical offerings, we can cater to the distinct healthcare requirements of elderly individuals and tackle their health-associated issues. Let us now engage in a discussion about numerical values (IBISWorld, 2023). By enhancing our pharmaceutical offerings, we can anticipate a significant augmentation in our earnings and liquidity. Enhancements in service provision are poised to mitigate inaccuracies, augment patron contentment, and ultimately stimulate greater revenue generation. A cash inflow is imperative for enduring expansion and upholding the corporation's welfare (CVS Health, n.d). Augmenting our revenue will also result in amplified earnings, fortifying our fiscal stance.

Justification:

According to our research and analysis, the proposed product or service is well within the purview of CVS Health. We have recognized appropriate technological resources, such as mechanized dispensing apparatus and pharmaceutical care oversight, that can be assessed and implemented within a feasible duration (Minemyer, 2023). Furthermore, communication mechanisms can be employed to maintain our patients' involvement and link, amplifying their comprehensive encounters. We conform to the enterprise's tactical blueprint and objective by incorporating these technological resources and amenities (IBISWorld, 2023). Our dedication to furnishing easily available and superior healthcare to our clientele is unwavering, and this undertaking fortifies that pledge. CVS Health Corporation's improved pharmacy services initiative will be lucrative. Automated dispensing cabinets/units and pharmaceutical treatment management enhance operational efficiency and eliminate mistakes, saving money.

Enhancing the Mission:

Customer satisfaction and engagement via messaging technologies will boost prescription fulfillment and sales. These elements boost project income (IBISWorld, 2023). We may also target high-income Gen Xers and Baby Boomers who require healthcare services. The revenue increase is possible due to the aging population's health difficulties. Improved pharmaceutical services may increase market share and client base, boosting profitability. Increased revenue and customer satisfaction will boost CVS Health Corporation's cash flow and financial situation. The firm needs a solid cash flow to invest in new projects, R&D, and expansion for continuous success (CVS Health, n.d). CVS Health can compete in the pharmacy market and provide value to shareholders and investors with a sound financial basis and predicted profitability (Minemyer, 2023). The statement above posits that the project's profitability can be ascertained by augmenting our market dominance, fostering revenue expansion, and providing better patient results.

Conclusively, the suggested initiative to enhance our pharmaceutical provisions at CVS Health Corporation is a tactical maneuver that conforms to our objective and possesses a robust economic rationale. We are presented with the prospect of fulfilling the healthcare requirements of elderly individuals, augmenting client contentment, and establishing our dominance as a pioneer in the pharmaceutical sector. In my estimation, this undertaking can yield substantial financial returns and a persuasive return on investment that warrants the allocation of resources for stakeholders and upper-level executives.

References

CVS Health (n.d.). Our purpose - Bringing our heart to every moment of your health. CVS Health. Retrieved May 17, 2023, from https://www.cvshealth.com/about/our-people/our-purpose.html#:~:text=We%20unite%20around%20our%20goal,customers%2C%20colleagues%20and%20the%20company.

IBISWorld. (2023). Cvs Health Corporation - Company Profile. IBIS World. Retrieved May 17, 2023, from https://www.ibisworld.com/us/company/cvs-health-corporation/9191/

Minemyer, P. (2023, February 8). CVS reports double-digit revenue growth in 2022, $4.1B in profit. Fierce Healthcare. Retrieved May 18, 2023, from https://www.fiercehealthcare.com/payers/cvs-reports-double-digit-revenue-growth-2022-41b-profit#:~:text=CVS%20Health's%20revenue%20topped%20%24300,company's%20earnings%20report%20released%20Wednesday.