Greatest Opportunity

The company's greatest opportunity is to leverage technology advancements to improve its clients' quality of services. Recently, CVS Corporation launched a medical alert system known as Symphony to help caregivers monitor their loved ones remotely. Such a move highlights CVS's potential in digitizing its processes. Therefore, due to its massive resources, the company has a chance to digitize many of its programs, hence reaching many people and increasing profitability.

Strengths and Weaknesses

The greatest strength for CVS is its ability to establish itself as the dominant health organization in the U.S. due to its large network of facilities. The company has one of the largest presence in the U.S. and can dominate the health sector. The organization has a presence in 49 states, with more than 9900 outlets in the country. It also has 1100-minute clinic locations, with over 54 million visits to these clinics (CVS Health, 2). Having an established infrastructure gives CVS Corporation an advantage due to its economies of scale. Therefore, unlike competitors and new entrants in the market, CVS's greatest ability is to continue its expansion programs and establish itself as a dominant player in the health sector. The company's weakness is that it lacks power over regulatory changes in the health sector. Regulatory changes such as a decrease in drug prices will be costly for the company.

Strategy or Tactic

CVS's greatest strength is its massive resources and its presence in over 49 states. That means it has more resources than many of the health organizations in the U.S. To take advantage of that strength, CVS should engage in mergers and acquisitions to reduce competition in the U.S. market (Hitt, Ireland & Hoskisson, 1). It should also establish firms globally. Reduced competition and larger presence will increase its profitability. Due to its lack of control on government regulation, the firm should enter into contracts with suppliers to buy supplies at fixed prices for several or months regardless of a change in government policy.

Resources, Capabilities, and Core Competencies

CVS's key resources are experienced personnel, while its capabilities are the availability of financial resources. Its core competencies are professionalism and quality healthcare. Its experienced personnel in over 9900 locations make it one of the most staffed institutions. Due to its large size, the company can expand further, hence increasing productivity (CVS Health, 2). Lastly, its experienced staff and quality services, which are its core competencies, grant it leverage against other small firms in the industry.

Sources

1. Hitt, Ireland, & Hoskisson. 2020. Strategic management: Concepts and Cases: Competitiveness and globalization (13th ed.). Mason, OH: South-Western Cengage Learning

References

References go on a new page and is formatted as the examples demonstrated below. Utilize the “page break” function.

References require hanging indentations which means the first line of each reference is at the left margin and the subsequent lines in each reference is indented 0.5 inches.

Format your reference page by clicking on the little arrow in the Paragraph group found on the Home tab. In the ‘Paragraph dialog box’ under Special: use the dropdown and click on Hanging and it will automatically format the indentation by 0.5 inches.

Then, go down to Line spacing: and choose ‘Double’ and at the bottom click OK. Be sure to not double/double-space between each reference. The references should be uniformly double spaced.

It is your responsibility to italicize, capitalize, parenthesize, and punctuate according to APA rules. Please refer to your APA 7th edition Manual and the APA Tutorial/Quick Guide.

After you have entered all the sources you have cited in your document, alphabetize the list of sources clicking the “Sort” button (the AZ on the top line of the “Paragraph” portion on your ribbon). You will sort Paragraphs by Text in Ascending order.

Remember to include at least one nursing, scholarly journal article and reference from one of the ANA Essential texts (Scope and Standards, Code of Ethics, or Social Policy). Additional sources should be professional nursing sources such as the course text or another journal article.

Please see pages 58 and 66 of the APA Manual (7th ed.). This is what your reference page should look like. Contact your faculty instructor if you have any questions about this Personal Philosophy Paper.

Your references need to be in alphabetical order. Please be sure to check your spelling!

Remove all red instructions. You can convert the two examples below to black font color and use them IF you paraphrased and cited information from them in your philosophy (a good idea!).

Black, B. P. (2020). Professional nursing: Concepts and challenges (9th ed.). Elsevier.

Fowler, M. D. M. (2015). Guide to the code of ethics for nurses with interpretive statements: Development, interpretation, and application (2nd ed.). American Nurses Association.

HOW TO USE THIS TEMPLATE

· Read the explanations provided in the template for each section of your paper.

· The explanations are in blue font below.

· You should have already read the assignment instructions in Blackboard.

· Type your response to each of the assignment requirements within the designated sections.

· Each assignment requirement is identified using a section Heading that is in black font

· DO NOT add extra spaces between sections.

· DO NOT change the margins.

· You are required to have a heading for each of the sections in your paper.

· The required headings have been provided for you.

· DO NOT delete, alter, or add anything to the section Headings.

· DO NOT type the assignment instructions into the sections.

· After typing your responses, change the font color to black and make sure it is not in bold.

· Be sure to change the font color on the title page to black after typing your name, professor’s name, and date.

· Everything in blue font below should be deleted and replaced with your responses.

· DELETE this entire page before you submit your assignment to avoid losing points.

REMINDERS

· The assignment is due in week 8. Late submissions negatively impact your grade.

· Use the same public corporation you used for assignments 1 and 2.

· Include at least 6 full and complete academically written pages that address the requirements. The title page, this instruction page, and the source page do not count.

· Use at least 3 quality sources, one of which MUST be the course textbook.

· Strayer uses SafeAssign – an automated plagiarism checker. It is advised that you do your own writing and use external resources to support what you have written in your own words.

Week 8 Assignment 3

Write your introduction to this 6-page paper here. Include one (1) paragraph (not more than 6 lines of text) that explains what your paper will discuss. Much of your introduction may be taken from the assignment instructions (in your own words). Read all assignment resources to understand what should be included in your paper. Be sure to review the assignment instructions in Blackboard, the grading rubric, and relevant course announcements to understand the requirements. Do not exceed 6 lines of text in this introduction. There should be no direct quotes in this section. After reading these instructions, replace this blue text with your introduction and change the font color to black.

Business-Level Strategies

Analyze the business-level strategies for the corporation you chose to determine the business-level strategy you think is most important to the long-term success of the firm. You will also need to determine whether or not you judge this to be a good choice (Note: in this step you need to choose and write about only one (1) business-level strategy from the text book (not Google). Hint: See Figure 4.1 in the textbook. Include a thorough justification for your choice that is backed by facts and sound judgement. For background, be sure to research and explain the industry in which your selected corporation operates. You could also briefly (1 – 2 sentences) define the business-level strategy (cite your sources) you are writing about using the textbook/Learn, as an introduction to your analysis. Read Chapter 4 in the course textbook. Review the Week 4 Learn video/Lecture for supporting content. Your response here should demonstrate that you understand the key concepts regarding the selected business-level strategy and can apply them to a real-world corporation. Keep in mind that this is a 6-page paper and as such your analysis should thoroughly address the concepts discussed in the course. Avoid unsubstantiated statements, extended introductory commentary, direct quotes, and unrelated content. Strive for about 1 ½ - 2 pages of well-constructed, in-depth analysis in this section.

In this section, you could research and identify the core competencies your chosen firm uses to implement its business-level strategies and discuss their effectiveness. You could also demonstrate from your research how the firm uses its core competencies to create and sell its products in the marketplace. Consider the actions & choices your firm has made to compete in individual product markets. Review Chapters 4-9 for specifics on the business-level strategies. Your response should clearly identify the one business-level strategy from the textbook that you think is most important to the long-term success of the corporation. Your response must also include a clearly stated and justified judgement on whether that strategy is a good choice. Include enough content and depth to demonstrate a thorough analysis of your selected corporation’s business-level strategy. Remember that this is a 6-page paper and as such, you will need to dig deep. After reading these instructions, replace this blue text with your analysis and change the font color to black.

Corporate-Level Strategies

Analyze the corporate-level strategies for the corporation you chose to determine the corporate-level strategy you think is most important to the long-term success of the firm. You will also need to determine whether or not you judge this to be a good choice. (Note: in this step you need to choose and write about only one (1) corporate-level strategy from the text book (not Google). Hint: See chapter 6 in the textbook. Include a thorough justification for your choice that is backed by facts and sound judgement. You could also briefly (1 – 2 sentences) define the corporate-level strategy (cite your sources) you are writing about using the textbook/Learn, as an introduction to your analysis. Read Chapter 6 in the course textbook. Review the Week 6 Learn video/Lecture for supporting content. Your response here should demonstrate that you understand the key concepts regarding the selected corporate-level strategy and can apply them to a real-world corporation. Keep in mind that this is a 6-page paper and as such your analysis should thoroughly address the concepts discussed in the course. Avoid unsubstantiated statements, extended introductory commentary, direct quotes, and unrelated content. Strive for about 1 ½ - 2 pages of well-constructed, in-depth analysis in this section.

Your response should clearly identify the one corporate-level strategy from the textbook that you think is most important to the long-term success of the corporation. Your response must also include a clearly stated and justified judgement on whether that strategy is a good choice. Include enough content and depth to demonstrate a thorough analysis of your selected corporation’s corporate-level strategy. Remember that this is a 6-page paper and as such, you will need to dig deep. After reading these instructions, replace this blue text with your analysis and change the font color to black.

Competitive Environment

Analyze the competitive environment to determine the corporation's most significant competitor (this will require research outside of the course material). Compare their strategies at each level and evaluate which company you think is most likely to be successful in the long term. Justify your choice. Hint: read chapters 1 - 10 in the course textbook as they provide a solid background for this section. Review the Week 1 - 8 Learn video Lectures for supporting content. Remember that this is a 6-page paper and requires a thorough competitive analysis. Strive for about a 1 ½ - 2 pages of well-constructed, in-depth analysis in this section. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your analysis and change the font color to black.

Market Cycles

Determine whether your choice from Question 3 (Competitive Environment section above) would differ in slow-cycle and fast-cycle markets. It would be a good idea to briefly explain what the slow-cycle and fast-cycle markets are from the textbook (cite your sources) as a short introduction to your determination. Hint: read Chapter 5 in the course textbook. Remember that this is a 6-page paper and therefore each section requires a thorough response that demonstrates your understanding of key concepts covered in the course and your ability to apply them to a real-world corporation. Cite your sources and avoid the use of direct quotes. After reading these instructions, replace this blue text with your response and change the font color to black.

Sources

1. Hitt, Ireland, & Hoskisson. 2020. Strategic management: Concepts and cases: Competitiveness and globalization (13th ed.). Mason, OH: South-Western Cengage Learning

2. Author. Publication Date. Title. Page # (written as p. #). How to Find (e.g. web address)

3. Author. Publication Date. Title. Page # (written as p. #). How to Find (e.g. web address)