Complete the Porter’s Five Forces Worksheet, based on the company you have been working with since Wk 1

MGT/576 v1

Porter’s Five Forces

MGT/576 v1

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Porter’s Five Forces

Complete the table below . For the company you’ve decided to assess in week 1, determine the strength of each of Porter’s Five Forces and of the complementors. 

Justify your determination with examples. 

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CVS Health

Student

Instructor

University affiliation

Class Name

Date

Company Name: CVS Health

Company Website URL: https://www.cvshealth.com/

Entrepreneurial strengths of the company

Innovation-driven culture: CVS Health cultivates an environment that fosters imaginative thinking and calculated risk-taking among employees. With this culture, the organization can rapidly capitalize on creative thoughts, merchandise, and services.

Strategic partnerships: This business has an impressive history of establishing mutually beneficial alliances with multiple healthcare entities, including insurance carriers and drug manufacturers. CVS Health leverages these alliances to amplify its impact and provide a wide-ranging selection of cohesive healthcare solutions.

Customer-centric approach: The company prioritises grasping customer wants and expectations. By using data insights and customer input, they personalize their products/services and enhance overall client satisfaction.

Major elements of the company’s approach to entrepreneurship and value creation.

CVS Health's enterprising spirit revolves around an agile and responsive business strategy. They emphasize unrelenting progress, spotting chances to generate worth for their stakeholders. Through its deliberate pursuit of strategic collaborations, the organization can maintain its edge in the healthcare market. Advancements in technology are essential to their continued prosperity. By uniting their main capabilities, CVS Health seeks to generate complementary effects. These effects will produce enhanced medical results and higher client contentment.

Action the company could take to increase entrepreneurial value creation

To maximize entrepreneurial value generation, CVS Health might create an inner innovation fund. The funding allocated for this initiative will support and develop original ideas proposed by employees. Through empowering their personnel to undertake entrepreneurial ventures within the company, CVS Health can access the collective brilliance of their staff. This approach would encourage intrapreneurship, fostering a culture where employees are incentivized to propose new solutions. These solutions can drive value and address emerging market needs. The fund's primary objective is to empower CVS Health to take the lead in the dynamic healthcare landscape by supplying the essential tools to turn imaginative notions into tangible realities. Ultimately, this would provide a formidable advantage for the organization in the fiercely competitive healthcare market.

References

Leading Health Solutions Company: CVS health (no date) Leading Health Solutions Company | CVS Health. Available at: https://www.cvshealth.com/ (Accessed: 02 August 2023).

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