I need someone to rewrite a paper I received from here. Please help
Lamontae2013
capstone_part_i.docRunning head: LEADERSHIP 1
LEADERSHIP 2
Company description
CVS Pharmacy is the second largest company in the United States. The first largest pharmacy company is Walgreens. CVS Pharmacy was established in the year 1963 in Lowell, Massachusetts; a moderate sized county with a population of over 100,000 people. CVS has more than 7600 stores nationwide. This company is the second largest pharmacy in United States based on the total prescription revenue (Russell, & Cohn, 2012). This pharmacy is the subsidiary of CVS Health Company. This means CVS Health is the parental company of CVS Pharmacy. CVS Pharmacy is the retail division of CVS Health.
In the year 2009, the net income of the CVS Pharmacy was $1.660 billion. They sell prescription drugs, over the counter drugs, beauty products and cosmetics. They are the leading retail pharmacy of United States of America. CVS Pharmacy has good revenues according to a survey conducted in 2009. They provide its products in retail stores and online through CVS.com. The company continues to grow through strategic acquisitions with companies like Navarro Discounts and Eckerd stores. The company is planning for launching a new beauty product (Blackwell, 2011).
The CVS Health is opening a new store in the city of United States for the beauty and cosmetic products. The Pharmacy is launching a new beauty product. This is based on the needs of the customers. This product is totally customer focused. The company is using an innovative mission statement for this product. The Pharmacy is using the product differentiation strategy that will be effective for the product. These beauty products are for eyes, face, skin and more. The products on this store are on the affordable price. The customers can take the products from the retail store and can order online from the website CVS.com.
Mission Statement
The mission statement of the company for this product is to improve the lives of those people we serve by making the innovative and high quality health and pharmacy services safe, affordable and easy to access. The company states that we will be the easiest pharmacy retailer for the customers to use. The main purpose of Pharmacy is to help the people on their path for better health (McKeever, 2012).
Vision
The vision of the CVS is that we strive for the improvement of the human life. CVS help the people for live longer, healthier and happier lives.
Values of CVS
The main values of the CVS are such as; innovation, collaboration, caring, integrity and accountability. The CVS has the respect for the individuals, integrity, and team work, openness for the new ideas and passion for the extraordinary customer’s service. The Pharmacy has divided the values in the many parts such as for the customers, colleagues and contributions. For the customers, they are passionate to the goal of the company to continuously improve and innovate the services to the customers, every day, every way and every customer. All the employees work as the team. All are committed and act with the integrity (Blackwell, 2011).
The company is producing the pharmacy products for the customers. The products are made according to the needs of the customers. The company is responding to the individual needs of the customers. There are so many needs of the customers. The CVS as the pharmacy innovation company is focused on creating new, personalized experiences that appeal to all the customers based on their personal preferences. The pharmacy has designed the research and development program for knowing the needs and requirements of the customers (Russell, & Cohn, 2012).
CVS is making the products with targeting the segments according to needs of the products. If the company will use the strategies such as reinventing strategy then the CVS will be success for taking the competitive advantage in the competitive environment. The company is using the customer segmentation. It is focusing on the customer’s values and customers’ needs. The Pharmacy is targeting the segments on the basis of various characteristics such as; psychographic, behavioral, benefit, geographic and occasion segmentation. The company is developing the effective marketing strategies for the product development. These all efforts which will be made by the pharmacy will contribute in making competitive advantage in the competitive environment (McKeever, 2012).
New Vision and Business Model
The new vision of the pharmacy is that the pharmacy is attempting the improvement of the human life and CVS wants to provide the happier, healthier and longer lives to the people. It wants to provide the best services to the customers. The company is using the reinventing pharmacy to have more active, supportive role in the unique health experiences of each person and in the greater health care environment (Russell, & Cohn, 2012). The Pharmacy wants to be the best pharmacy that understands and satisfies the product, service and self fulfillment of the needs of the women.
The CVS should focus in the new store for the promotion of the herbal beauty products for men and women. The objectives of the pharmacy for next three years are such as; exceeding the customers’ expectations with the affordable pricing, increasing the number of customers by more than 30% per year and developing the business that can survive off its own cash flow. The main objectives of the pharmacy are to fulfill the needs of the customers and to increase the revenues of the pharmacy (Blackwell, 2011).
The pharmacy should set up a new store for this. This will need the office equipments, front counters, computers terminals, start up inventory and rent, utilities and insurance. The pharmacy should have to forecast the sales and expenses for the next year. The company is providing a wide range of the products which are based on the needs of the customers. The pharmacy is selling the products on the affordable price. The company is suing effective pricing strategy.
It should target the customers on the basis of mail order customers and walk in customers. The company should use the reinventing strategy as the marketing strategy of the pharmacy (Russell, & Cohn, 2012). The milestones for this are office or business set up for the new division, establishment of the new strategic relationship and profitability. It should appoint the effective sales persons, phone representatives, pharmaceutical technicians, order fulfillment agents and counter person. The pharmacy should develop the effective budget and financial plan for the next three years of the set up of the new division.
The mission, vision and values of the new division align the mission and vision of the pharmacy effectively. The company was using the innovation, caring, collaboration and integrity. These will help the pharmacy to promote and to fulfill the objectives of the new products. The pharmacy has made the brand reputation because of its pharmaceutical and other products that will help this new division for achieving its objectives (Russell, & Cohn, 2012).
The mission, vision and values of the company will help the new division towards the positive strategic direction. The company has set the mission, vision and values of the pharmacy according to the needs of the customers and providing the customers healthy and happy life. The company has established the mission and vision according the strategy of the pharmacy so it will be helpful for the new division of pharmacy. The company wants to fulfill the requirements of the customers and wants to increase the revenues and sales of the products, so if the company will effectively work for the mission and vision of the pharmacy then it will guide the new division to the strategic direction (Russell, & Cohn, 2012).
The strategy of the company for the corporate social responsibility includes building the healthier communities, protecting the planet and creating the economic opportunities. The new division should follow the all the laws and highly ethical standards. In the organization, the responsibilities are shared to everyone. The company should maintain the code of conducts by providing the training and communication programs on their respective codes and ethics programs. There will be punishment for the employees if they are doing any wrong full act in the organization. The company will establish the cultural identity on the basis of the mission, vision and set of the values of the pharmacy (McKeever, 2012).
Thus the pharmacy will implement the effective business plan for the new division of the CVS for the new beauty and cosmetic products, and then there will be increase in the all over turnover of the CVS. Thus we can say, the mission, vision and values are very important for the development of the new division of the pharmacy in the other location of the United States. The company should develop the effective principles for the ethics, culture, codes of conduct and social responsibility in the company. The company should motivate the employees of the company to follow these principles.
References
