Question
This is a discussion board post, please reply: Complete The external environment of CVS Health regarding PESTLE is as follows. Political - Political implications from
This is a discussion board post, please reply:
Complete
The external environment of CVS Health regarding PESTLE is as follows.
Political - "Political implications from the opioid epidemic and avoiding public policies for improved customer outcomes."(PESTLE, 2020)
Economical- "Downsizing of the affordable care act and corporate tax reforms to change market dynamics."(PESTLE, 2020)
Social - "aging population in the US to boost spending on healthcare and growing demand for premium skincare products in emerging markets." (PESTLE, 2020)
Technological - "Merger with Aetna to create strong consumer health care technology platform."(PESTLE, 2020)
Legal - "Uncertainty in consolidation deals due to antitrust regulations."(PESTLE, 2020)
Environmental - "Enterprise-wide environmental strategy and compliance measures." (PESTLE, 2020)
I think that all of the items significantly impact the business. Because CVS operates a lot with health care, political factors matter a lot. Economic factors come into play for CVS Health because as the world around them changes, they need to reflect on what affects them directly so they can change accordingly. The things changing in question may be growth rates and inflation, changes in the opioid epidemic, and protection of their consumers.
Social factors come into play when interacting with consumers. CVS Health has exemplary employees who go above and beyond to keep their image well maintained. CVS can stay on top of the social factors by reacting to how their consumers feel after leaving their stores or health facilities. It will be necessary for CVS to meet the needs of the populations where they are located.
Another thing for CVS to stay after is the technological factor. Technology is always abruptly changing. Businesses must stay ahead of their competition with technology and at the leisure of their consumers because they do not want to overwhelm them.
Legal factors will also be important as they deal with health care. CVS makes sure all of their consumers' privacy is protected along with their own privacy.
And lastly, environmental factors. The environmental factors matter and are effective because populations often want to support businesses that care about the environment. CVS does have a track record of printing insanely long receipts. However, they do have an "enterprise-wide environmental strategy" (PESTLE, 2020) in place.
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