Business

Discussion Board 3

Tyler Cotton

BMT-1010-DL04 September 9th 2021

Globalization is when businesses develop and operate goods, cultures, ideas, services, beliefs and resources internationally. My fortune 500 company is CVS and after researching I realized that they have multiple stores all over the United States but no stores internationally. CVS doesn’t only sell products that are their brand, but also multiple named brands products that you can find over seas. So even thought they don’t have any stores over seas, they do have products that go and come from over seas. While working at CVS I also realized that the pharmacy is the biggest part of the company and what it’s known for. Most countries have their own personal pharmacies that might not be as big as CVS. One of the bigger brands CVS sell is Olay. Olay is a skincare brand that is sold all over the world and within different stores. Olay is sold in 80 different countries including, the UK, China, Australia, Spain, Germany and France. CVS does plan on buying the 8th biggest pharmacy in Brazil called Onofre which would their first and biggest international deal knowing that CVS is an American based company. This doesn’t mean that CVS stores will open up in another country, they’ll just be owning another company that’s located over seas. Maybe in the future CVS will buy more companies overseas or maybe open a small store in one of these countries to get a feel for international affairs. This is a good start to something bigger, or that can continue to keep it an American based company and just own smaller ones internationally. To conclude CVS doesn’t have any international store but they sell several products that are internationally made or sold, and even own an international company.

Sources: https://www.reuters.com/article/cvscaremark-results-brazil/update-4-cvs-buys-brazils-onofre-in- first-international-deal-idUKL1N0B63ZB20130207

https://www.theguardian.com/fashion/fashion-blog/2012/mar/12/brief-history-of-olay