Cvs And Corporate Social Responsibility

Inside CVS Health, there are many stakeholders that come into play and are effected by the new change. The employees, customers and clients, suppliers and venders, investors, and local communities, are the stakeholders that are involved with and are close to CVS Health. CVS Health believes that staying close and involving their stakeholders to their CSR strategy, will help them be successful. Having employees that help contribute to the purpose that CVS Health stands for, helps the consumers get on a path to better health, and also contributes to the local communities outside of work. I am going to select ‘employees’ as the stakeholder for this analysis.

Accordingly, Target’s (2015) CSR Report emphasizes its sense of community, stewardship, and responsibility by focusing on such areas as wellness (of guests, team members, and communities), sustainability of its products and business operations, inclusiveness, and community investment (p 2). Furthermore, Target’s management states its “performance as a company is intrinsically linked to the health and vitality of the communities” where its team lives and works (p 1). For that reason, Target contributes 5% of its profits back to local communities and has done so for 70 years (p 1). In its 2015 CSR Report, Target reports on the progress towards achieving its 20 corporate social responsibility goals it set in 2010. Progress is presented in easy to read graphics spread over seven pages of the 45-page report with goals for the future under development and to be released (pp 4-10, 10). In addition, Target’s website has this information under the categories of environment, team-member wellness, education, and volunteerism.

The company will lose over 2 million dollars in sales from customers who buy cigarettes and other tobacco products. The overall sales were over 123 billion dollars in 2012 (NY Times, 2014). By October 1, 2014, over 7,6000 stores nationwide stopped selling these products. According to president and CEO Larry Merlo, this is the right decision for the company and customers because selling tobacco does not correlate with their purpose. Be removing the products, they will better serve patients, clients and health care providers (CVS Health, 2014).

CVS Health announced in 2014 that it wanted to stop selling all tobacco related products. This will affect every CVS location in the United States of America. The problem that arises in the U.S. is the usage of tobacco products. As a successful pharmacy chain and a lucrative company, CVS health wants to do its best to strengthen the health of American citizens. In order to solve the tobacco problem, the health professionals are taking it upon themselves to make a difference. If the distribution of tobacco products come to a halt at CVS pharmacies, consumers will either stop buying the products all together or looking for the products elsewhere.

However, it may have been easier to contend with when you take into the fact that CVS health care venture’s profit is tens of million dollars a year. CVS corporations felt its decision to stop marketing tobacco products made sense and was the right thing to do. The sale of tobacco conflicted with their value proposition, (promise of value to be delivered and acknowledgment on behalf of the customer, reciprocating that value was delivered and experienced) of saving lives and providing people with health care. Additionally, tobacco sales reflected the opposite effect of what was considered to be healthy. Their decision not only gave the company a good reputation, but also contributed to CVS listing as a preferred

One of the factors, which are also included in our CVS´s mission statement, is to make healthcare accessible and affordable. The market reach of CVS is expanding through a globalized environment. The second of these three pillars of CVS´s corporate social responsibility takes the environmental awareness into account. A reduction in the environmental impact resulting from operations will create an environmentally responsible behavior.

They believe the tobacco products have no place in a drugstore company that is trying to become more of a health-care provider. This reflects a major push and change by retail pharmacies away from simply dispensing drugs toward a more integrated role of providing basic health services to Americans. The drugstore chain estimates it will lose $2 billion in annual revenue from tobacco and other products as a result (Martin). But CVS is counting on this strategy to give them a competitive edge over other rival pharmacies. "Cigarettes have no place in an environment where health care is being delivered," said Mr. Merlo, a 58-year-old former pharmacist who became CEO of CVS Caremark in 2011. "This is the right decision at the right time as we evolve from a drugstore into a health-care company"

After conducting some buyer behavior research, CEO Larry J. Merlo reported, "We came to the decision that cigarettes and providing health care just don’t go together in the same setting." In September 2014, the company decided to stop selling them (forfeiting $1.5 Billion a year in revenue) in order to push into a healthier brand image. This decision came with a name change to CVS Health (formerly CVS Caremark Corporation). All stores will keep the ‘CVS Pharmacy’ name, although it has been updated online. Additional CVS Health Executives include: Andrew Sussman, MD (President of MinuteClinic and SVP/Associate Medical Officer of CVS Health), Johnathan Roberts (Executive Vice President of Pharmacy Benefit Management Business, CVS Caremark), and Helena B. Foulkes (Executive Vice President and President of CVS

communication upward, downward and laterally with its employees. CVS’ encouragement of open communication between employees, higher management and executives allows innovative ideas, problems and solutions to be heard in a timely manner. In terms of external communication, customer feedback is heard on a regular basis. Communication is integral in any organization…

Cigna Corporation is a global health service company dedicated to helping people improve their health, well-being and sense of security. Cigna Corporation is in over 30 countries and jurisdictions and has over 89 million members throughout the world. (CSR Profile of Cigna Corporation, 2015). This essay we will review Cigna Corporation social responsibility, to see if they contribute to society through good business practices, by providing good work environment, good citizenship and solving social issues. We will incorporate terms such as sustainability, strategic philanthropy, cause marketing, shared value, stakeholders, and global perspective. We will see if Cigna Corporation really following the corporation social responsibility of the

I think it is a good decision, CVS stops selling tobacco. Cigarettes are the main leading cause of preventable disease, disability and death. CVS is a health care provider, not a general store where shoppers can stop in to pick up some Pepsi, deodorant, and a pack of smokes. Dropping to sell tobacco will not be much of a financial sacrifice for the company either. Because, cigarettes are responsible for even less of its profits, but for a CVS company that makes most of its money by selling prescription drugs. More than half of CVS’s revenue comes from its "pharmacy services"

With respect to efficiency measures, we note that CVS’s asset turnover dropped slightly from 1.9 in 2012 to 1.8 in 2013. Walgreens asset turnover also declined from 2.1 to 2.0 YOY. CVS experienced a very minor increase in days sales in inventory from 39.7 to 39.9 YOY. (This is greatly improved from 2009-2011 when the number was consistently over 43). By contrast, Walgreens days sales in inventory improved from 51.2 to 50.2.

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Corporate Social Responsibility (CSR) is the intention of the companies to do the right things and act in certain ways that are good for the company, society and environment. CSR was accelerated in 1970 (Archie B, 2006) and took into account since there was a concern between the increased population and scarce resources. It was established in order to ensure that the global development is sustainable. There are three fundamental aspects of sustainability, economic progress, communities’ relationships and environmental protection. This essay will report the managerial skills, leadership style and management practises in leading and managing an organisation to promote better and greener environment. Considerable research has been undertaken on Toyota Motors Corporation.