The CVS Health Firm’s Weaknesses and Problems Essay

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CVS Health is one of the largest medical companies in the United States that provides a wide range of services. The network of this company also includes pharmacies, pharmaceutical laboratories and medical clinics. Despite the long sustainable development, this company is faced with many problems that can be identified due to the creation of Switch of analysis. To resolve critical situations that can threaten the successful activities of the clinic, special teams will be created.

Table 1: SWOT Analysis

StrengthsWeaknessesOpportunitiesThreats
Positive brand reputation and credibilityLimited innovation in technology and digital servicesGrowing popularity and demand for medical servicesIncreasing competition in the provision of medical services
A large developed network of clinics and pharmaciesWeak development in the international sectorPotential expansion to other countriesFrequent reforms of laws concerning medicine
Diversification of cash flowsDependence on insurance companiesImprovement with new technical solutionsIncreased requirements for the care of clinic clients
Stable financial resultsProblems in calculating paybackIncreased focus on preventive health and carePatient identity theft risks

The weak point that should be corrected in the company was its weak technical equipment and lack of updates. A special team will be formed to influence the problem as efficiently as possible. The difference between a group and a team is that their members have different priorities. A group of people gathers to achieve specific goals, but they are not required to interact with each other (Organizational behavior, 2017). To solve the chosen problem, the cooperation of the participants is one of the critical aspects. Therefore, the choice of team formation is more rationally justified. Teamwork involves the interaction of its members to achieve goals more successfully.

As one of America’s largest healthcare providers, CVS Health must develop aspects of modern technology to secure a competitive edge. In addition, developing the technical aspects of service in the company will improve the level of customer service. It is essential to highlight the amount of work the team members have to solve (Semeijn et al., 2020). The team’s goal will be to identify the causes of the existing problem and develop a strategy that will include ways to solve them. It is necessary to identify the person with the required skills and knowledge. The team may include qualified medical staff who will generate valuable ideas and digital support staff who will be responsible for their implementation.

In case there are conflicts or contradictions in the team, it will be necessary to ensure in advance the possibility of unimpeded communication between all team members. In this way, it will help to prevent the risks of misunderstandings and conflicts. In addition, the team leader will need to establish clear corporate ethics within the unit (Association for Talent Development, 2018). Another important point for establishing the right relationships in the team is the hierarchy schedule. Thus, each employee will know what accountability is found, and no conflicts will be associated with confusion.

In conclusion, it is important to say that for the extensive medical corporation CVS Health, it is imperative to consider potential weaknesses in development. In this case, this aspect was the lack of technological development of the company. Therefore, it is extremely important to study such vulnerabilities and create teams of specialists to develop strategies to address them. To ensure the success of the innovations, the necessary goals were set. In addition, each group member must correspond to the duties assigned to them and be qualified. In this way, it will be possible to successfully carry out organizational changes to improve the competitiveness and quality of services.

References

Association for Talent Development. (2018). Step 7 – Leverage strategies to develop teams and deal with conflict: Stages of team development. 10 steps to successful facilitation, 2nd ed.

. (2017). University of Minnesota Libraries Publishing Edition. Web.

Semeijn, J. H., van der Heijden, B. I. J. M., & De Beuckelaer, A. (2020). . Applied Psychology, 69(2), 538-556. Web.

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