...Management and Leadership Topic: Research Paper 3 on CVS CAREMARK CVS Caremark is a company which considers helping mankind on their way to have better health. Their leaders have undertaken such operations which are environmental friendly, carbon reducing goals, engaging colleagues, customers and other stakeholders. Their leaders have been able to strategies in such a manner that they have been able to create a combination of health care services that provide great solutions from planning a pharmacy design to vital delivery of products and services to their customers. As they have a very good leader (CEO) Merlo Paints they have developed such capabilities that includes industry which are leaders in clinical and health managing programs, speciality in pharmacy expertise, excellent customer services and leaders in retail clinics. Leader’s behaviour is influenced by the internal and external constraints which interact with each other and with the leader’s personality and skills. Sometimes severe situations also arise when the leaders are only a figurehead who is unable to implement any strategy or policies to make changes. Internal constraints are those in which CEO’s discretion is influenced by the factors which are internal to the organizations, whereas external constraints are those which includes the organizations primary product and services and the type of market in which the firm operates. The CEO of CVS Caremark takes initiatives in the political processes which...
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... the executive team of CVS includes one President and twelve Vice Presidents. This team reports to the Board, which including nine directors. , CVS has established a management structure that is aligned to support the company's goal of providing quality services and quality products. Five Vice Presidents are in charge of products and services relevant functions and six are supervising supporting functions, such as accounting and human resource. Compared with the organizational structure in 2011, CVS has nominated its new CEO and changed six Vice Presidents. (The changes are highlighted in red in Figure 1.) The former CEO Thomas M. Ryan was also Chairman of Board. However, in 2013, CVS separated the CEO from Chairman of Board. Also, Helena Foulkes, who has been with CVS for over 15 years, has started a new position in Chief Health Care Strategy since 2011. This shows CVS’s attempt to intensify its ability of dealing with the ever-changing health care market demand and policies as well as its ambitious to keep leading the market. Customers and Services CVS’s business is comprised of Pharmacy Services segment, Retail pharmacy segment, and corporate segment. The Pharmacy Service provides a full range of pharmacy benefit management (“PBM”) services including mail order pharmacy services, specialty pharmacy services, plan design and administration, formulary management and claims processing. In order to stay competitive in the retail drug industry, CVS has been investing considerable...
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...Introduction Walgreen Co. and CVS/Caremark are two of the largest retail drugstore chains in the United States, offering consumers a variety of basic consumer goods including household products, convenience foods, personal care, beauty care, photofinishing, and seasonal items, as well as over-the-counter and prescription medication. In addition to their well-known retail pharmacies, both companies also operate a health services health and wellness division. Within the retail pharmacy industry CVS/Caremark and Walgreens continually battle for the retail position. This document will offer an overview and basic competitive analysis of the two companies. Background Location & Type of presence (brick and mortar, or internet) According to the CVS/Caremark 2011Annaul Report, page 23; as of December 31, 2011, the CVS/Caremark Retail Pharmacy segment operated 7,327 retail drugstores with 7,271of these retail stores operating a full service pharmacy. Their stores are located in 41 states and the District of Columbia and Puerto Rico. Additionally, within these retail stores operate 657 health care clinics conducting business under the Minute Clinic name. The retail pharmacy stores operate primarily under the CVS/pharmacy or Longs Drugs names. In addition, the Pharmacy Services segment operates under the names CVS Caremark Pharmacy Services, Caremark, CVS Caremark, Care Plus CVS/pharmacy, Care Plus, and Rx America to providing pharmacy benefit management services to employers, insurance...
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...Yes, CVS does have policies and guidelines that are in place for the facility that I am in however, they don’t wait long enough to see if the changes or policies will work to start a new policy up. It’s important for managers to align a company’s vision and strategies with its organizational culture, but by doing that, they must have a clear defined vison and mission of the organization, managers can set strategic objectives they can be aligned with the company’s long-term goals. In addition, short term is also an important goal as well to observe and watch as well. The development of vison and mission statements are a crucial part of the strategic management process. To be successful managers must define and communicate a clear strategy if...
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...Aside from all the usual (and hopefully obvious) advice, like ‘don’t make any spelling or grammar mistakes’, ‘no waffling’ and ‘tidy format’, there are a few other ways you can create a great stand-out CV. The Daily Business Post asked Stephen Quinn, CEO of Jobbio, an Irish-owned online hiring platform, for some tips on creating a CV that will stand out to any hiring manager. “In an employer’s mind it’s not just about the success you have had leading up to this point, it’s about applying those experiences to potential future roles,” Quinn said. 1. Be Inventive “The future of recruitment can’t be word documents and bullet points. People have too much more to show and say; whether it’s campaigns they’ve worked on, blogs they’ve written or even their Twitter feed,” Quinn added. Companies tend to get huge amounts of unsolicited CVs, but when they’re actually actively hiring, that number jumps significantly. Making yourself stand out in the crowd is vital. Given the number of CVs a hiring manager is going to be looking at in one sitting, you won’t have very long to make yourself stand out — probably only about 20 seconds, Quinn said. 2. Be Positive Irish people typically are terrible at talking themselves up. It’s time to change that, said Quinn. “A lot of people are too modest in what they have achieved and what they can do. Irish people are naturally self deprecating. We should really be taking a page out of the book of our uber-positive neighbours in America where everything...
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...CVS Health Summary of Industry Characteristics December 31, 2014 Summary The Food and Drug Store industry consists of stores that primarily focus on the sale of food, drugs (nonprescription and prescription), or a combination of both. Typically smaller than General Merchandisers, such as Wal-Mart, the companies in the Food and Drug Store industry provide grocery products such as cold and hot foods, pharmaceuticals, general pet care, and typical household products meant for everyday living. Stores that fall within the industry may specialize in one aspect over the other, such as CVS Health in pharmacy and health care. Even though the major products of the industry are food and drugs, there are several other minor products like health clinics and fuel centers that play an important role in the industry. Industry Sales The industry revenues can range from $139,367 Million to $14,194 Million and profits range from $4,644 Million to $113 Million, just within the companies within the Fortune 500. Their revenue is mostly derived from their sales of their inventory, no matter which side of the industry they sell from. Since most companies will use FIFO inventory methods, this helps decrease their product waste due to expiration dates and will increase their total sales and revenue. Their highest costs tend to be for plant, property, and equipment. Kroger, for example, owns a majority of the buildings where their retail stores are located and they are slowly disposing of their...
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...Convenient Care Clinic's as Your Doctor's Office: A Different Prescription Janet Meadows Northcentral University Convenient Care Clinic's as Your Doctor's Office: A Different Prescription Larry Merlo, pharmacist and CEO of CVS Health (formerly known as CVS Pharmacy) is on a mission to transform your local pharmacy into a “one stop shop” for your everyday healthcare needs (Hamilton, 2014). Merlo has visions of your local pharmacy (hopefully his pharmacy, namely CVS Health) as a replacement for trips to the physician’s office, urgent care clinics, as well as many unnecessary emergency room visits. If Merlo gets his way, convenient care clinics (CCC’s) such as Minute Clinic’s owned by CVS Health and other such clinics, will do just that (Gray, 2015). As ambitious as this dream is, is it feasible to replace doctor’s office visits with convenient care clinics as an equal source for your healthcare needs? Will CCC’s be able to provide the same quality of care as your local physician? Is it possible for one’s healthcare needs to be met in the same manner as with visits to the doctor’s office? Will there be greater compliance with healthcare needs by using CCC’s? What can be expected by using CCC’s for your healthcare needs instead of the traditional physician’s office visits in which the public is accustomed? There are currently 970 Minute Clinic locations throughout the United States used to diagnose and treat patients along with filling prescriptions and selling...
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...* The two health care companies I chose were Walgreens and CVS, both have a long history in the pharmaceutical department and are in direct competition with one another for customers. Walgreens is America’s largest drugstore chain and as of January 31, 2014, it now has 8,678 stores in all 50 states and most districts. Walgreens issued more than 800 million prescriptions annually, which is about 20 percent of the United States market. (Walgreen Vs. CVS) As for online business, it has almost 17 million visitors per month. Walgreens’s strategy has evolved throughout the century it has been in business. As CVS, it is the second largest pharmacy chain in the United States. It has more 7600 stores, and it is ranked the 13 largest company in the world by Fortune 500 in 2013. (Walgreen Vs. CVS) This paper would examine the positioning and differentiation strategies between Walgreens and CVS. * The creation of remedies for illnesses and ailments have been discovered by people since the beginning of existence. The first organized apothecary had been credited to the Babylon. Later followed by the Roman, who discovered a system of pathology and therapy which became the standards for medicine for more than a 1,000 years. While pharmacy was consider as a shadowy and sketchy business of a long time, practiced by witch doctors. As the renaissance era entered in, medicine and treatments became more structured with a scientific approach. “In 1240, German Emperor Frederick II issued a proclamation...
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...Does it makes sense to sell tobacco in a pharmacy that promotes a healthy lifestyle? Most people would say no. In 2014, CVS Pharmacy announced to stop the sales of any tobacco related products. Focusing more on getting people to quit rather than starting. CVS pharmacy one of the top leading pharmacies wants to set an example for other pharmacies. Would consumers want their child to picking up prescriptions and turn around to see the same pharmacy selling tobacco? Smoking is the leading cause of deaths in the US. “Cigarette smoking causes more than 480,000 deaths each year in the United States. This is about one in five deaths.” (CDC, 2014) Pharmacies around the United States should ban tobacco because of the negative side effects it can do one’s body, but also by banning tobacco at the local pharmacies will bring attention to why smoking is bad for the health. Health before wealth. It’s safe to say any company will do anything to raise sales, even sell tobacco while promoting a healthy lifestyle. CVS pharmacy raked in about $2 billion dollars annually from tobacco sales. In addition, the company revenue rose up to 9.7%. At least, this didn’t have a negative impact on the pharmacy sales. On the other hand, the front store did feel a little bit of change in the sales, but in overall the no tobacco in stores helped the company. With 900 walk-in clinics most CVS pharmacies offer quick easy clinics. “More than 70-90% of smokers who try to quit will relapse into regular tobacco use...
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...– 002 February 25, 2014 Essay 2 CVS Caremark Steven Graham 1834-5319 Background and Introduction of CVS Caremark Decision On February 5th CVS Caremark announced that they would cease the sale of cigarettes and other tobacco products in its stores. This measure is scheduled to begin by October 1, 2014. Once this action is taken, CVS Caremark will be the first national pharmacy chain to drop the sale of tobacco products. The President and CEO of CVS Caremark, Larry Merlo, stated the following, "Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right thing for us to do for our customers and our company to help people on their path to better health." Tobacco sales represent $2 billion in annual revenue for CVS Caremark. This is causing many to question if this is a good move for CVS Caremark. Analyzing this Decision with Respect to Key Stakeholders It seems crucial to analyze the aforementioned decision with respect to three key stakeholders. The stakeholders that will be analyzed are CVS Caremark employees, shareholders, and customers. This is not an exhaustive list of stakeholders, but it represents fundamental primary stakeholders. Employees of CVS Caremark have a significant stake in the company’s decision to drop the sale of tobacco products. Some employees may fear the significant profit loss that this decision represents. This fear would likely be compounded by the lack of details that CVS Caremark has provided on how they will...
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...Reporting Project: CVS Health Corporation and Walgreens, Co. Financial Reporting Project: CVS Health Corporation and Walgreens, Co. Progress report two CHRISTOPHER ALLEN, SYED BOKHARI, GAELLE DENIZE, AND JONATHAN PLANTE Progress report two CHRISTOPHER ALLEN, SYED BOKHARI, GAELLE DENIZE, AND JONATHAN PLANTE 2015 2015 Table of Contents Module 4 Questions………………………………………………..pages 2-3 Module 6 Questions………………………………………………..page 3 Module 7 Questions………………………………………………..pages 4-5 Module 8 Questions………………………………………………..page 5-6 Accompanying Exhibits to Module 4……………………………...pages 7-9 Module 5 Questions (Exhibits six through eight)……………….....pages 9-11 Accompanying Exhibits to Module 6……………………………...pages 11-12 Accompanying Exhibits to Module 7……………………………...pages 12-14 Proxy Statement Questions………………………………………...page 15 Works Cited……………...………………………………………...pages 16-17 Return on Equity, Analysis, including the analysis of Operating and Non-operating Return (for a detailed analysis, please refer to Exhibit One, Two, and Three) In the fiscal years of 2012 and 2013, Walgreens Boots Alliance (WBA) had a higher return on equity (ROE) than did CVS; however, in 2014, CVS had a higher ROE than did WBA. (CVS and WBA 10-Ks) Both components of ROE (operating and non-operating) explain this above information. For the fiscal years of 2012 and 2013, WBA had a higher operating return, which is also called return on net operating assets (RNOA), than did CVS. This can...
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...Executive Officer (CEO).[2] The COO may also carry the title of President which makes him or her the clear number-two in command at the firm, especially if the highest ranking executive is the Chairman and CEO. Contents * 1 Responsibilities and similar titles * 1.1 Corporate president * 1.2 Current situation * 2 Roles and functions * 2.1 COO as successor * 3 Relationship with CEO * 4 Relationship with board of directors * 5 Failure in the COO role * 6 Experts and research * 7 List of notable COOs * 7.1 Current * 8 References * 9 Further reading | Responsibilities and similar titles Unlike other C-suite positions, which tend to be defined according to commonly designated responsibilities across most companies, the COO job tends to be defined in relation to the specific CEO with whom he/she works, given the close working relationship of these two individuals.[3] In many ways, the selection of a COO is similar to the selection of a Vice President of the United States: the role (including the power and responsibilities therein) can vary dramatically, depending on the style and needs of the President of the United States. Thus, the COO role is highly contingent and situational, as the role changes from company to company and even from CEO to successor CEO within the same company.[3] Corporate president In a similar vein to the COO, the title of corporate President as a separate position (as opposed to President and CEO, or President and...
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...CVS Caremark Organizational Analysis James P Miller Strayer University BUS 310 Professor Frevert Abstract CVS Caremark established 1963, has been expanding every year since their inception. With over 7,000 retail locations they face many human resources challenges. It essential for CVS to understand what HR challenges they face to make informed decisions; beneficial to the company stakeholders and employees. Hr decisions affect not only the employee’s but the company’s social opt squat. These resolutions include recruitment of highly skilled workers, company policies, labor relations, training and diversity, management of multiple locations, global business environments, employee compensation and benefits, and legal compliance. In addition, CVS human resources have to align optisquat with the mission and values of the company. CVS Caremark Organizational Analysis CVS Caremark is a pharmacy health care provider in the U.S. They provide pharmacy services, which includes mail order pharmacy services, specialty pharmacy services, plan design and administration, formulary management and claims processing; and Retail Pharmacy, which sells prescription drugs and a range of general merchandise, including over-the-counter drugs, beauty products and cosmetics, photo finishing, seasonal merchandise, greeting cards and convenience foods. As of Dec. 31, 2011, CVS has approximately 7,300 CVS/pharmacy retail stores. (CVS Care mark, 2011) CVS...
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...for the job. For example, if the job requires an employee to be behind the till dealing with customers then the person specification will probably state that the employee must have good communication skills in order to communicate successfully with customers. It will also require the applicants qualifications and personal skills E.g. Motivational skills, honest individual, team player , reliable individual ..These are all things that Apple believes could benefit the business. When an applicant is applying for a job at Apple they will need to submit a form of Curriculum Vitae alongside a job application. A ‘Curriculum Vitae’ is known as a brief account of someone’s education, qualifications and previous occupations (Oxford Dictionary). A CV (Curriculum Vitae) will include the applicants personal details (name, address, Email) , these personal details are generally used as contact...
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