Open Always
Email: support@globalcompose.com Call Now! +1-315 515-4588
Open Always
Email: support@globalcompose.com Call Now! +1-315 515-4588

Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

This sample paper on (Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation)was uploaded by one our contributors and does not necessarily reflect how our professionals write our papers. If you would like this paper removed from our website, please contact us our Contact Us Page.

A Database of over Million Scholarly Resources. Start your Search Now

Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

The running of an organization involves making critical decisions to ensure maximum productivity under every market condition. The strategic managers are bestowed with this critical role of balancing various contrasting factors and propose overall direction of the organization. As a result, top management strategists apply a three- staged analytical framework to assess and establish the most viable strategy to be adopted.  Each of the three stages, namely the formulation, matching, and decision stage- is composed of different tools and mechanisms.  Although either of the tools may be used by any organization, certain organization factors may make it suitable for particular tools than others. This essay evaluates a possible analytical framework for Samsung Group Company. However, the essay’s focus is restricted to two strategic tools that can be used at the matching stage of the decision-making framework.

The matching stage involves the process of establishing a match between the organization’s key internal and external factors.  This stage aims at applying the organization’s resources and skills to exploit external opportunities while tackling the accompanying challenges.  Matching stage utilizes various matrices including the SWOT (Strength, Weakness, Opportunities, and Threats), the SPACE, the BCG, the IE, and the Grand Strategy Matrices (Isoherranen, 2012). However, this essay finds that the SWOT and SPACE techniques are more appropriate for the Caremark Company. Any data and company’s information included this analysis was obtained from the company’s official website (caremark.com).

 

 

 

The SWOT Matrix for CVS Caremark

The SWOT procedure is an extensive analysis of an organization’s internal weakness versus the external opportunities and threats (Ayub et al., 2012).  The following table summarizes the SWOT analysis scheme for the CVS Caremark

                                     

            Internal Factors

 

 

External Factors

Internal Strengths:

·         Leading provider of prescriptions and pharmacy

·         Customer loyalty

·         Easy of access-Website and Mobile applications

·         Economies of scale

·         CVS/Advice Nurse Program

 

Internal Weaknesses

·         Government involvement and control

·         Company policies instability

·         Poor demographic presence

·         Controversy on product quality

·         Easy target for robberies

External Opportunities:

·         Unexplored beauty industry

·         Acquisition and merger

·         Demographic spread

·         Effective use of technology

Using Strengths to exploit Opportunities:

ü  Take advantage of customer’s loyalty in pharmacy services to market  its beauty product

ü  Take advantage of its economies of scale to acquire

Exploiting opportunities to Overcome weaknesses

ü  Enhance the technological means of data storage and analysis to keep track the companies policies

ü  Install technological security measures

External Threats:

·         Customer’s incompetency

·         Lack of highly experienced staffs

·         Growing competition

 

 

 

 

 

Using strengths to handle threats:

ü  Economies of scale enable the organization to produce at low cost, hence can set competitive prices for its products

ü  Enhance  CVS nurse program to train and equip staffs with relevant skill

ü  Simplification of Website and apps portals to a more user friendly to counter customer’s  incompetency

Minimizing weaknesses to avoid threats:

ü  Increase demographic presence to neighborhood minimizes the risk of customer incompetency in electronic access

ü  Clear its product quality controversy to withstand competition

 

 

SPACE Matrix for CVS Caremark

The SPACE techniques involve the evaluation of the significance of different variables to the company and assigning each of the variables its score depending on its relevance. The SPACE matrix contains four different quadrants, namely the conservative, aggressive, defensive and competitive. The aim is to rank the organization into one of this quadrant to establish the most suitable strategy for it. The following is an analysis that aids in classifying CVS Caremark into its suitable category.

Internal Analysis

External Analysis

Financial Position:

Return on Investment                             3

Levarage                                                 6

Liquidity                                                 3

Working capital                                      6

Cashflow                                                6

Average=4.8

Industry Stability:

·         Growth Potential                            4

·         Financial potential                          6

·         Ease of market entry                      2

·         Resource Utilization                      3

·         Profit Potential                                4

Average= 3.8

Competitive Advantage

·         Market share                                -1

·         Product Quality                            -2

·         Customer Loyalty                        -3

·         Technical knowledge                   -4

·         Degree of vertical Integration    -2

Average= -2.4

Environmental Stability

·         Inflation                                         -1

·         Technological  changes                -5

·         Price Elasticity of Demand            -2

·         Competitive Pressure                   -4

·         Barriers in market entry               -2

Average= -3.6

 

Plotting the above in X-Y Cartesian

 
   

Possible Strategies

As shown above, CVS Caremark falls in the Aggressive quadrant. The possible strategies for this level include evaluating ways to penetrate the market. As shown in the SWOT analysis, one possible market is the beauty industry. Other possible strategies include developing the market and products as well as diversifying the existing market. These could be achieved through increasing demographic presence.

 

 

Executive Summary

CVS Caremark is one of the largest pharmacist suppliers in the United States. It is based in Woonsocket, Rode Island; however, its outlet is distributed in various parts of the country.  For instance, the group operates over 7000 pharmacies and drug stores across the region. CVS Caremark is a public company that is listed in the US foreign exchange.  As noted above, the Caremark group highly influenced by the government of the day. This influence has greatly contributed to the operation instability as every incoming government imposes peculiar policies to the company. Nonetheless, this analysis has highlighted some of the ways into which the company may utilize its resources to counter the market challenges.  For example, the company may advance its technological use to counter the externally-instigated instability. It has also pointed out some of the most viable strategies for the company depending on its present situation. For instance, the company should focus on penetrating new markets while developing the existing market and products.

 

 

 

 

 

 

 

References

Ayub, A., Razzaq, A., Aslam, M. S., & Iftekhar, H. (2013). A Conceptual Framework On Evaluating Swot Analysis As The Mediator In Strategic Marketing Planning Through Marketing Intelligence. European Journal of Business and Social Sciences, 2(1), 91-98. 

Caremark Website.  (2014). Retrieved Dec

Isoherranen, Ville. (2012). Strategy Analysis Frameworks For Strategy Orientation And Focus. Universitatis Ouluensis

 

 

 

Sharing is: CARING

Are you looking for homework writing help? Click on Order Now button below to Submit your assignment details.

Homework Writing Help
We Can Help you with this Assignment right now!
Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

Are you looking for homework writing help on (Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation)?Well you can either use the sample paper provided to write your paper or you could contact us today for an original paper. If you are looking for an assignment to submit, then click on ORDER NOW button or contact us today. Our Professional Writers will be glad to write your paper from scratch.

 

We ensure that assignment instructions are followed, the paper is written from scratch. If you are not satisfied by our service, you can either request for refund or unlimited revisions for your order at absolutely no extra pay. Once the writer has completed your paper, the editors check your paper for any grammar/formatting/plagiarism mistakes, then the final paper is sent to your email.

Writing Features

Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

Privacy| Confidentiality

Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

We do not share your personal information with any company or person. We have also ensured that the ordering process is secure; you can check the security feature in the browser. For confidentiality purposes, all papers are sent to your personal email. If you have any questions, contact us any time via email, live chat or our phone number.

Our Clients Testimonials

  • I appreciate help on the assignment. It was hard for me but am good to go now

    Impact of pollution on Environment
  • Am happy now having completed the very difficult assignment

    Creative Message Strategies
  • Your writer did a fine job on the revisions. The paper is now ok

    Ethics: Theory and Practice
  • The paper was so involving but am happy it is done. Will reach you with more assignments

    Title: Privatization in or of America
  • I expected perfection in terms of grammar and I am happy. Lecturer is always on our head but was pleased with my paper. Once again, thanks a lot

    Title: Bundaberg Inquiry
  • The paper looks perfect now, thank to the writer

    Health Care Systems
  • You helped me complete several other tasks as you handled paper. wonna thank you

    Critique Paper on Political Change
A Short List of our Services
Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

Related Articles

Sample Critical Thinking Paper on the Matching Stage of the Strategic Formulation Framework of CVS Caremark Incorporation

Analyze the Nursing Roles in providing Comprehensive care in a Variety of Community Health Settings

Community Settings This week’s graded topics relate to the following Course Outcomes (COs). CO3: Plan prevention and population-focused interventions for vulnerable populations using professional clinical judgment and evidence-based practice. (POs...
Read More

Case Study Assignment on Ethical Issues in Asia-Pacific business

Case study assignment on Ethical Issues in Asia-Pacific business For this assignment, students will write a case study report in 2,000 words based on a case identified with circumstance or...
Read More

Sample Report Paper on The proposed reward system and strategy for the big city university

A good reward system should motivate workers. It should also attract and retain the same workers. On the contrary, a bad reward system does not do either of these things....
Read More

Management of PCOS through Homoeopathy-A case report

Introduction PCOS is the acronym for Polycystic Ovarian Syndrome. It is the most common endocrine disorder of women in their reproductive period manifested by irregular menstrual cycles and polycystic ovaries,...
Read More

Get more from us…

Would you like this sample paper to be sent to your email or would you like to receive weekly articles on how to write your assignments? You can simply send us your request on how to write your paper and we will email you a free guide within 24-36 hours. Kindly subscribe below!

Email Address: support@globalcompose.com