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CVS Health Ariel Smith South University BUS3001: Ethics in Organizations Professor Dr. Ted Sun 3/2/2023

This paper discusses CVS Health as a family-oriented business focusing on its responsibility to put its customers’ health first. CVS’ mission statement is known to provide healthcare for everyone no matter their life situation. Therefore, what they’re stating is that they are here for everyone, no matter where they are in life. Their mission statement touches on areas on how they serve their communities, and how they reach out to their customers, with diverse solutions for every cause and concern. With CVS Health's mission to provide and help customers on a path to better health, a set of values and principles must be established for all employees to understand and abide by. CVS has values and principles for its employees. Those values include integrity, accountability, innovation, diversity, and respect. The company wants to lead its employees to do the right thing, even when no one is watching. They want everyone to take responsibility for their actions and behaviors by being aware and accepting ownership. Diversity is an asset in the work community. “Individuals with diverse backgrounds can contribute in ways with their skills and experiences. Everyone in the company will have the same opportunities regardless of their knowledge and be encouraged to contribute. All employees must keep calm and be respectful in all interactions with customers and co-workers to give out a positive shopping and working experience” ("Implementation of The Code of Ethics," 2021). With these principles they want everyone to be responsible for their actions and behaviors. CVS was founded in Lowell, MA on May 8 th , 1963, by three men of the names of Stanley Goldstein, Ralph Hoagland, and Sidney Goldstein. "The CVS enterprise supports fulfilling its corporate mission and vision statements through its strategic position as one of the dominant competitors in the healthcare and retail pharmacy markets in the United States"(Williams. 2019). CVS Health aims to build an entire world of health care around everyone they serve, no matter where they are on their journey. CVS makes a point to listen and shows empathy, giving

solutions that benefit people's unique needs to earn their loyalty. Where they’re located within the neighborhoods is The services provided are prescription drug coverage, health insurance, access to their One of CVS’ partners is Aetna, who they work with to provide affordable plan for healthcare. Working together, they try to provide the best benefits for their employees to provide the best benefits and lower costs. Because CVS is located in many locations Their pharmacy is set to make health care affordable for more people. With CVS providing this care, they are able to help Americans get the Walgreens, Rite Aid, and Walmart Pharmacy are the top competitors of CVS that was noted in 2022. Walgreens is noted to have divisions in forty-seven states, and over 13,000 stores worldwide, operating in more than eleven countries. Rite Aide gets fifteen percent of their revenue from prescriptions and sells healthcare products. Making them a reliable source for people who need healthcare. Last but not least, CVS is similar to other companies where they all focus on Walmart Pharmacy is the home of many products, including the most prominent names like CVS, Walgreens, and Rite Aide. Walmart has to pay massive amounts of cash for its pharmacy services as it has been losing money for some time now. In addition, Walmart is the only big box store offering a generic prescription program, while other pharmacies offering the same program may charge significantly more than $4 ("11 Biggest CVS Competitors", 2022). Forbes reported, “CVS Health's had a high revenue of about 81 million with healthcare, pharmacy and retail sales going up ("What's Next for CVS Health Stock," 2022). There are seven essential guidelines for ethical behavior to follow. First, protected health information and personally identifiable information are necessary to ensure that all information collected is kept confidential and private. Certain CVS employees are required to have a certification to provide their services. Employees are responsible for keeping their credzentials

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active. If employees allow their badges to expire, then that’s going against federal regulations, and will resort to CVS receiving fines. Employees must also notify management of ethical issues if they have a problem that happens outside of work that could jeopardize the status of certifications. Lastly, suppose the employee is aware that their license does not comply with CVS, state, and federal regulations. In that case, management must be notified ("Implementation of The Code of Ethics," 2021). What I admire about CVS and the way that they applied their mission statement is that they banned tobacco sales to help improve their customers health. I would recommend is extending their customers' lives by not being a part of the smoking problem. Once they stopped the sale of tobacco products to help improve the health of their customers, it was a step in the right direction. CVS Health extends outside of the business by slowing down pollution in our atmosphere. I used to be a cigarette smoker myself, and if Walgreens had done the same, I probably would have been able to quit a lot sooner. I also appreciate that they have such great deals on prescriptions. I'm one of many who have been trying to fix my depression once COVID hit and knowing that they are there to help me fill my prescriptions lets me breathe much easier. What drew me to the reason of why I decided to write on CVS Health was when my friend living in another state would explain to me how they’ve helped her. She always had high reviews recommending them for my personal needs.

References Williams, M., (2019) CVS’s corporate mission & vision statements. CVS’s Corporate Mission & Vision Statements - Rancord Society Reuter, D., (2022) Meet the typical CVS shopper: a white gen x college-educated city dweller earning a high income. A typical “11 Biggest CVS Competitors (your Complete List)”, (2022) 11 biggest CVS competitors. 11 Biggest Cvs Competitors (your Complete List) - Talk Radio News “What’s Next For CVS Health Stock After A Solid Q3?” (2022) What’s next for CVS health stock after a solid Q3? What’s Next For CVS Health Stock After A Solid Q3? (forbes.com)

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