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CVS Corporate Mission & Vision Statement

What Is CVS’s Mission & Vision Statement?

CVS’s corporate vision and mission statement embody its business objective of contributing to the optimal health of its target customers.

As a result, the company’s strategic goal of dealing directly with its customers, particularly in operating its subsidiary MinuteClinic, has been supported by its strategic position as the dominant competitor in the healthcare and retail pharmacy market in the U.S.

The company was formerly known as CVS Corporation and CVS Caremark Corporation.

The acquisition of the business also supports the realization of the company’s mission and vision statements through its strategic position as a dominant competitor in the healthcare and retail pharmacy market in the United States.

CVS Pharmacy Mission & Vision Statement

The company has expanded its operations outside the U.S. through acquisitions, including a retail pharmacy business in the Brazilian market.

CVS Health’s organizational structure reflects such mergers and acquisitions in its administrative divisions to ensure industry—and market-specific strategic business operations.

However, even with such divisions, the company’s retail pharmacy is a significant revenue channel and the most popular and visible business, reflecting the strategic execution of its mission and vision statements.

CVS’s Mission Statement

CVS’s corporate mission is to “help people on the path to better health.” This mission statement is based on the company’s value proposition, which includes products used to improve or maintain the health of its target consumers (see CVS Health Corporation’s VRIO/VRIN analysis and value chain analysis).

The company uses different versions of its mission statement, sometimes writing “putting people on their paths to better health.”

Regardless of the performance of the corporate mission, CVS’s business purpose, business description, and value proposition remain the same in these statements and relate to the same competitive advantages appropriate to the retail pharmacy and healthcare industries.

A manifestation of CVS’s mission statement is its strategic goal to focus on products directly related to its customers’ healthcare needs.

For example, CVS Pharmacy discontinued the sale of cigarettes and concentrated exclusively on pharmaceuticals and personal care products. This strategic move also responds to criticism of selling tobacco by a retailer selling products for health issues related to tobacco consumption.

This emphasis on the mission statement is also reflected in CVS Health’s business model, generic strategy, and focused growth strategy. Along with the vision statement, the mission statement positions the company as a consumer health advocate and emphasizes a customer-centric approach.

CVS’s Vision Statement

CVS’s corporate vision is to “help people live longer, healthier, and happier lives.” This vision statement is synonymous with a retail pharmacy company’s mission statement.

Both of these corporate statements are directed toward CVS’s business operations, which are intended to support the health aspects of its target customers.

Based on this corporate vision, the company’s long-term strategic direction is intertwined with consumers’ long-term health concerns, healthcare trends and related factors in the marketplace.

The strategic implications of CVS’s vision statements are generally similar to those of the company’s corporate mission.

For example, these corporate statements place consumers and their health at the centre of the company’s value proposition.

In realizing its corporate vision, CVS Health Corporation must develop, or at least maintain, the competitive strengths described in the SWOT analysis of CVS Health Corporation to remain competitive against companies such as Walgreens.

Like the mission statement, CVS’s vision statement is customer-centric. It establishes long-term strategic plans and business goals that make the company a partner in the long-term health of its consumers.

Core Values

CVS Caremark’s core values are “Innovation, Collaboration, Caring, Integrity, Accountability.” The growth trend in this sector of CVS Health is undoubtedly driven by the general attitude of employees to prioritize innovation, call for togetherness, and do this right. The company’s employees are also the ones who are most responsible for the quality of the services they provide.

References

  • Cady, S. H., Wheeler, J. V., DeWolf, J., & Brodke, M. (2011). Mission, vision, and values: what do they say? Organization Development Journal, 29(1).
  • Bart, C. K. (2001). Exploring the application of mission statements on the World Wide Web. Internet Research, 11(4), 360-369.
  • Ingenhoff, D., & Fuhrer, T. (2010). Positioning and differentiation by using brand personality attributes: Do mission and vision statements contribute to building a unique corporate identity? Corporate Communications: An International Journal, 15(1), 83-101.
  • Jones, R. (2010). Corporate branding: the role of vision in implementing the corporate brand. Innovative Marketing, 6(1), 44-57.
  • Mullane, J. V. (2002). The mission statement is a strategic tool when used correctly. Management Decision, 40(5), 448-455.
  • Bart, C. K., Bontis, N., & Taggar, S. (2001). A model of the impact of mission statements on firm performance. Management decision, 39(1), 19-35.
  • CVS Caremark – Home.
  • David, F. R., & David, F. R. (2003). It’s time to redraft your mission statement. Journal of Business Strategy, 24(1), 11-14.

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