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Both the H and IT departments must work together to resolve the issues together. By reviewing the problems revealed in the quality audit it was discovered that technology and training can improve the prescription order processing system. The SMAT tool also uncovered how H can raise the level of customer satisfaction by providing better trained employees. This will diminish the number of problems due to slow response time. The IT department is looking at how to track customer complaints and put a tracking system in place to follow up on errors and complaints that are cataloged by the system. Creating a measurable tracking system that reports on when and how each complaint is resolved. In effect this improves both the H and the IT department operational objectives of increasing the performance levels of employee service while lowering the number of complaints in order processing (Bednarz, 2006).
Also the TQM process…… [Read More]
Business Strategy - CVS Pharmacy Strategy.
CVS ebranding Strategy
CVS took out tobacco from its stores' shelves one month earlier than was planned originally. This move plus the alteration of the company's corporate name is targeted at helping the company rebrand as a health care company. With a name such as CVS health, the company believes that not being part of the tobacco distribution system is good for the company in the long-term and is aligned with the company's new focus on health. CVS health had also announced that it was to launch a campaign against smoking. Observers were surprised by CVS Caremark Corporation (NYSE: CVS) when it made the announcement concerning its stance on Tobacco. The announcement was accompanied by a big banner proclaiming the new logo and name of the company across the NYSE (Sheets, 2014).
The company's rebranding, they said, is aimed at assisting people be of…… [Read More]
Identifying new markets and opportunities with range of products and services that are offered has helped the company grow. Online and 24-hour operations have also encouraged and drawn more customers. The cost and barriers to entry for the company are relatively lower when compared to other smaller chains. eing a large organization, CVS has better bargaining and negotiating power with its suppliers. uying to satisfy economies to scale can help the company better manage its inventory. etter distribution and warehousing techniques can help increase the inventory turnover in the stores. Having a recognizable brand name can help the company manage the hurdles of entering new markets more effectively. Offering customers CVS cards and special offer discounts on the card has helped bring back many customers. Regular shoppers can also avail special discounts through use of this CVS card. CVS is also introducing electronic transaction terminals that can transmit consumer account…… [Read More]
Service encounter analysis CVS Pharmacy
Service encounter analysis-1 CVS Pharmacy
Service encounter analysis-2
Service encounter analysis-3
Service encounter analysis-4
Service encounter analysis-5
Service journal entryform-1
Appendix A Encounter 1 CVS Pharmacy
Service journal entry form-2
Service journal entry form-3
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Service journal entry form-5
Service marketing relates to a customer's behaviors in relation to a market strategy. Over the past few months the opportunity to observe several encounters with different vendors has resulted in exploration of marketing concepts and theories learned in the classroom. The integration between course learning and practical application from not another's perspective but the intrinsic view of each student is unique. Following are the results of this exercise in five encounters as a consumer in the market place.
The first an encounter at CVS Pharmacy involves the 7 Ps relating to Price, Product, Place, and Promotion. When a business is very…… [Read More]
CVS H Management
The business of CVS is to provide products and health services with a vision that "strives to improve the quality of human life" (CVScaremark, 2011). Taking a look at two of the organization's strategic goals of the Human esource business areas Training, ecruiting, Selection, and Technology it is easy to see how CVS is an industry leader.
CVS recognizes the importance of establishing a culture that will have an affect on its people and their performance. The organizational development functional management at CVS realized that sharing a common vision would assist each individual in understanding what the company stands for, commit to the same vision, and then work toward supporting the mission each and every day.
The target market are communities with consumers in major urban cities across America. In these communities is a pool of employable workers as well as many cities have government programs to…… [Read More]
CVS Case Study
Analyze the firm's performance relative to each item in the "Cycle of Capablity." Identify appropriate areas for improvement.
"Well, we can't have 67 solutions for the 67 problems indentified."
CVS has a difficult environment in which it must operate -- literally people's lives may be on the line. Some drug-to-drug interactions can have serious consequences for their consumers. Furthermore, customers typically do not like to wait long for their prescriptions to be filled. Therefore, CVS's fulfillment must be flawless and efficient. The company was losing customers because they were having significant services problems. For example, during an eight hour shift, 40% of customers voiced a complaint and approximately 16% of customers had some problem with their pickup. One of the biggest challenges was to conduct the insurance check and data entry that slowed the fulfillment process.
Utilizing the service issues identified in Exhibit #2, please construct a…… [Read More]
Discuss the CVS Extra Care loyalty program and whether the program is a source of shopper insights that can be leveraged in multiple ways to be successful.
The CVS loyalty program demonstrates the utility of such a system. In this program, rewards are offered to customers who demonstrate a tendancy to return to CVS for their retail products. According to their website, " every time you make a purchase, either online or in store you'll earn Extra Care customer rewards or Extra ucks." CVS will attain a competitive advantage if this program does the following to leverage success: the system must be designed to increase profit margin regardless of the verbage attached to the program. A good deal is relative and as long as the consumer feels as if something is offered for free, profit margins may be manipulated with different products to maximize gains and limit losses.…… [Read More]
Business Project Management
Effective project management necessitates continuous adjustment so that the business accommodates the most recent trends. Majority of company directors expect project updates to be accessible in real time and anticipate live data to be accessible. Careful modeling of projects towards organizational aims and strategy is essential for attaining these objectives. A cost-benefit analysis can be important in determining how effectively, or how inadequately, a project will deliver value to an organization. Matching the total commercial benefits to the project costs incurred in the end enables decision makers to determine whether to go ahead with a recommended project (Vanlandingham and Drake, 2012). The purpose of this paper is to analyze the different projects and their costs and benefits towards David's Discount Pharmacy.
In the analysis of the case of David's Discount Pharmacy, the best option for the replacement is re-designing the front end and back end. This is…… [Read More]
These four dimensions are the tools for developing the company's marketing strategy and deciding which product line to cultivate, preserve, yield, or get rid of. Strong products should be grown or maintained. eak or unprofitable lines should be sold or discontinued as soon as possible. "Four basic factors are critical in the decision to manage individual product lines.
Cost to produce
Total sales volume" (Berry, 2012).
Going through the process of developing a marketing plan will help CVS to figure out how they are going to draw people into their stores and sell them things beyond discounted generic drugs. A provides the market with a source of discounted drugs among other products. This market need is important today as many Americans are faced with the dilemma of using their limited income on food or meds. A pharmacy should seek to fulfill the following benefits that are…… [Read More]
Value of a BA Degree
The Value of BA Degrees
Would you say this statement is "True" or "False"? Too many people are going to college these days. Many experts in business say that the statement is true. People once thought that college degrees were the most important advantage that people could attain through their own efforts (uiz 2011). But the situation is changing. A look at employees and entrepreneurs in Silicon Valley underscores a more pessimistic and sobering view of college education (uiz 2011). People who work in technical jobs without the benefit of formal coursework in higher education can be free to follow their interests and creativity (uiz 2011). These new technology experts don't need to get locked into boring corporate jobs that pay well in order to pay off enormous student loan debt burdens (uiz 2011). The cost of higher education keeps rising and there are those…… [Read More]
" She initially came out of retirement to work three days a week, but now she only works one day per week. Mitre in fact offers workers a phased-in retirement, with fewer hours and fewer workdays; but they keep a core of "reserves at the ready" like Doreen. Now Doreen has a little extra income so she won't have to dip into her nest egg, and the company doesn't have to worry that "it could lose too much institutional knowledge as its workforce retired," Fetterman explains.
In the same article, Joyce Montgomery of Detroit retired from her job as a counselor at a children's home, after her husband also retired. But soon they "...got tired of sitting around...I wanted to come into the workplace to be around people." So she applied for a part time job at CVS pharmacy, planning on perhaps ten or fifteen hours a week, but now,…… [Read More]
The Head Pharmacist has worked as a pharmacist in the area for a long time, including at the small pharmacy in the medical clinic near the hospital where many doctors have their offices. As such, he is well positioned to make contacts with those doctors in order to build the reputation of our pharmacy.
The financial plan will begin with the income statement. There are two main revenue streams, being retail and pharmacy. A third revenue stream within Pharmacy will be the online ordering, whereby customers can order over the eb and have their drugs ready for pick-up, or for delivery via the courier of their choice. Such revenue will be attributed to Pharmacy, and retail products will not be included in these orders.
ith respect to costs, labor costs are expected to reflect the staffing levels. hile there will be as many as 20 staff members, there…… [Read More]
Forbes Magazine entitled, "In the Pill Box" discusses Walgreen's Drugstore and the challenge that it faces from Pharmacy Benefit Managers (PBM). The article begins by informing the reader of the astronomical growth of the Walgreen's company. The author explains that the company's stock has risen by 3,000% in the past 20 years and that the store plans to have over 7,000 stores by 2010. (Lambert) The article also asserts that the same-store sales increased by 9% in fiscal 2003. (Lambert)
The author contends that although the company is extremely success, there is a threat on the horizon. This threat comes in the form of Pharmacy Benefit Managers who show health organizations and employers how to make prescriptions drugs more cost effective. The article explains that PBM's often encourage these organizations to persuade patients to get long-term prescriptions through the mail instead of going to a pharmacy. Mail order pharmaceuticals are…… [Read More]
Communication & Price
The target market will be composed of major retailers like Walmart, Target, CVS, Walgreens, as well as, regional and national grocery chain pharmacies. Each of these retailers already contains a product mix for these products that is diverse and cost competitive. Thus the company will have to work to differentiate itself in every way possible. One strategy for differentiation could be the product packaging and the container.
The products should be packaged in a way that separates them from the rest of the crowd. One idea would be to offer a more portable bottle that would fit into someone's pants or purse much easier. Usually products in this niche are packaged in a child proof bottle or in an individually wrapped sheet in which you have to peel back some kind of plastic to be able to access a single dosage. There are many versions…… [Read More]
Ethical Business Behavior at CVS
CVS is a pharmaceutical health care company that engages in the provision of mail order pharmacy, specialty pharmacy, retail pharmacy and retail clinic care. The company has a wide range of network outlets and a customer base that requires strict adherence to the industry's laws and regulations. The company has a set of guidelines to facilitate ethical business practice in operation across all its branches.
The corporation has in place a program on compliance and integrity owing to the vastness of its operations. The integrity and compliance program seek to ensure that the company's operations are responsive to the dynamics of the environment. The integrity and compliance program provide a code of conduct, procedures, policies and training regarding ethical behaviors. The company requires all its employees and branches to cooperate with investigations relating to compliance and regulations. The integrity and compliance program also provide incentives…… [Read More]
algreens Stores Analysis Approach to Quality Management
Preface: Organizational Profile (Organizational Description & Challenges)
algreens deserves the fame and public recognition throughout America, after working on serving the community with health care products and information. Charles R. algreen, Sr. established the company in Gallesburg, Illinois, in 1901. The company was merely a small building, which then developed into the largest chain of drugstores.
algreen's unique strategy from the very beginning of its working process was giving the customers personal attention and reliability of order delivery. Since algreen Sr. started the store, he had invented the "two-minute drill," a famous strategy where algreen would take the order and engage the customers in friendly conversation while their orders were fulfilled. The orders were delivered to their door immediately, in minutes after they called.
The strategy gives the strong point on innovation, service or customer orientation and business reliability. algreen seems to know…… [Read More]
McKesson Corporation (Mckesson) is an American pharmaceutical distributor with operations mainly in the U.S. The firm has been in operation since 1833, and boasts extensive market share, robust financial strength, and strong market power. The firm has built strong relationships with its key stakeholders, which adds to its strengths. Nonetheless, limited diversification and market focus as well as the threats of competition, unfavourable regulatory changes, and counterfeits present significant concerns for the company. To enhance its competitive advantage in the rigorously competitive pharmaceutical landscape, it is imperative for the firm to take advantage of consolidation, strategic partnerships, increased healthcare expenditure, and emerging markets.
McKesson Corporation (Mckesson) is an American health care company involved in the distribution of pharmaceutical productions as well as provision of health information technologies and care management tools majorly in the U.S. With a history that stretches back to close to two centuries, the organisation has…… [Read More]
Since 2010 the organization has demonstrated a decline in revenue of 11.08%. However, one would expect some decline as a result of the divestments took place in 2011.
The gross profit for the year ending 2012 was $8,019, which equates to a gross profit margin of 22.21%. However, the operating profit demonstrated a loss of $519, hindered by high ongoing Goodwin and intangible asset charges. However, was a lower operating loss compared to the operating loss in 2011 when it was $976.
The income statement shows the net earnings. In financial ***** earnings may be presented either before or after tax. As Supervalu are struggling and benefited from a negative tax payment in 2011, this report will use the definition of net earnings being earnings after tax. Calculated after provisions for income tax, showed a loss of $1,040, equating to -2.88%. However, it is notable that this is an improvement…… [Read More]
Target vs. Walmart Financial Analysis
Synopsis of the Companies
Wal-Mart Store Inc. became originally established in the year 1945 and is in the present day undertaking its operations in retail stores in over twenty-seven countries. The company is split into three key segments. These are Walmart International, Walmart United States and Sam's Club. The business undertaken by Walmart as a company encompasses restaurants, superstores, retail stores and also warehouse clubs. The company also undertakes e-commerce through its website Walmart.com. In terms of retail products, the merchandises being sold in Walmart's retail stores include baby products, healthcare products, household goods, electronics, books, automotive products, clothing, furnishings and decor, alcohol, grocery, paper products and so much more. The leadership and control of the company is held by the Walton family, which owns about forty-eight percent of the shares of the company. Walmart was established by Sam Walton and therefore shows why the…… [Read More]
This has lead to a greater corporate awareness of their impact in the multitude of regions they work and sell in. It has lead the concept of Corporate Social esponsibility to become a highlighted feature in the nature of global business today.
There are numerous examples of successful implementations of Corporate Social esponsibility in today's marketplace. Take one for example, the Caremark Corporation which is typically known to Americans as the owners of the CVS chain pharmacy and drug stores. This corporation has expanded rapidly over the past few years and has now become a global powerhouse. Yet, within its store locations, even in nations many corporations might exploit, they sill over excellent employee health packages that are equitable with the ones they offer their American employees in the United States. This seemingly small token shows corporate responsibility for their employees. However, not all seemingly wholesome American companies end up…… [Read More]
The basic explanation for this is that they rely on always offering the lowest prices, which makes them cut back on other costs. However, the future might bring about more pretentious and harder to satisfy customers and strategies will then have to be developed.
3. Internet etailing
The best selling strategy is that of combining multiple channels. This is similar to the financial sector, where the investor is advised to diversify his portfolio in order to reduce risks and maximize its chances of income. In the retailing business therefore, the company should use multiple channels to get their product to the end consumer. A basic explanation as to why numerous internet only purchase stores have failed where multi-channel companies have succeeded could reside in that the multiple-channel companies offer the audience the chance to directly see the product before buying it. In other words, an interested potential buyer can go…… [Read More]