Corporate Entrepreneurship
Choose 1 of the following Fortune 500 companies to study throughout this course:
• CVS Health
• Chevron
• Kroger
• Bank of America
• Home Depot
• Comcast
• Target
• United Parcel Service
• Procter & Gamble
• Caterpillar
Research the company and then answer the following questions:
• Which company did you choose?
• What is the company’s website address?
• What are 3-5 entrepreneurial strengths of the company?
• What are the major elements of the company’s approach to entrepreneurship and value creation?
• What is 1 action the company could take to increase its entrepreneurial value creation?
Include references for any sources cited.
Part 2: Adding Value to the Organization
Assess the external environment of the organization. Based on your assessment and the strengths and weaknesses you identified in Part 1, evaluate opportunities
for that organization to add economic, social, and environmental value.
Recommend an opportunity that meets the following criteria:
• Best capitalizes on the organization’s valuable, rare, and hard-to-imitate resources
Is least impacted by the organization’s weaknesses
• Takes the best advantage of the external environment
Create a 13- to 15-slide PowerPoint presentation to present your assessment, evaluation, and recommendation. Include the following:
• Cover slide
• Agenda slide
• Description of the organization (1 slide)
• Summary of the strengths and weaknesses of the organization (2 slides)
• Key aspects of your assessment of the external environment that present opportunities for adding value, such as trends, unmet needs, unsolved problems, underserved consumer groups, and so on (2-3 slides)
• Evaluation of opportunities to add economic value (1 slide)
• Evaluation of opportunities to add social value (1 slide)
• Evaluation of opportunities to add environmental value (1 slide). Note: Some opportunities may appear on more than 1 slide. For example, you may find an
opportunity that adds economic, social, and environmental value.
• Recommended opportunity to pursue first, with a rationale that shows how the opportunity capitalizes on the organization’s valuable, rare, and hard-to-imitate
resources; is not much impacted by the organization’s weaknesses; and takes advantage of the external environment (1-2 slides)
• Conclusion slide
• References slide
• Speaker notes to convey the details you would give if you were presenting
The slides should contain only essential information and as little text as possible. Do not design a slide presentation made up of long bullet points.
Sample Solution
I have chosen to research the company CVS Health. CVS Health is an American health care company offering both retail and pharmacy services, as well as managing health care benefit programs. Founded in 1963 and headquartered in Woonsocket, Rhode Island, CVS has grown to become one of the largest retailers in the United States with over 9,800 stores nationwide (CVS Health Corporation., n.d.)
The website address for the company is www.cvshealth.com which offers information on their products and services along with providing a comprehensive view of their approach towards healthcare innovation .
Some entrepreneurial strengths that stand out include:
1) Strong customer-centric focus – CVS has taken steps ensure customers receive personalized experience while shopping at their locations by leveraging technology such as digital tools ,personalized offers &real time communications .
2) Specialization in healthcare – The organization specializes in providing retail medical &pharmacy services including management of corporate benefit programs allowing them gain competitive edge other competitors operating within same industry sector .
3) Strategic partnerships – Through strategic alliances with companies like Apple ,McKesson &Healthgrades they’ve been able expand reach into new markets while also developing innovative products aimed meeting needs customers through better access quality healthcare treatments.
The major elements of CVS’s approach to entrepreneurship are focused on increasing value creation through leveraging technology , data analytics &strategic partnerships . Their innovation strategy involves utilizing Big Data analysis techniques develop customized patient plans reduce cost burden associated medical treatments while driving higher levels of customer engagement through loyalty programs or rewards systems.
One action that CVS could take increase its entrepreneurial value creation would be expanding into telemedicine which provides virtual visit options allowing patients connect physicians remotely using video/audio communication technologies (Mehta et al., 2017). This would not only improve access quality healthcare but also help reduce wait times usually experienced when visiting physical clinics thus offering more convenient solutions patients seeking immediate relief during critical times. In conclusion ,through careful evaluation current market conditions combined use appropriate technologies it appears that expansion into telemedicine can provide great opportunities further growth profit margin due increased demand such services modern day consumers look forward when searching accessible healthcare options best fitting needs requirements.