Many Paths to Corporate Social Responsibility

Corporate social responsibility does not look the same for every company. CVS Health actually expanded its corporate social responsibility by reducing its product offerings. The company took a big step in 2014, when it removed all tobacco products from its shelves. It cost the company a great deal of money, but it was the right move in the context of CVS’s larger initiatives. CVS rebranded itself as a healthcare destination, not just a pharmacy and retail store.

Along with removing tobacco, CVS also replaced its tobacco offerings with products designed to help smokers quit. The decision contributes to the company’s image as a place where people can get help with medical problems. Minute Clinics inside the stores offer basic health screening tests. Trained nurse practitioners can diagnose minor illnesses and prescribe medications. People in need of sports or other physicals can get them at the clinics. The clinics offer flu shots and some vaccinations as well.

CVS Reinvents Itself

With its Minute Clinics and pharmacies, CVS has reinvented itself as a one stop shop for healthcare services. Since the healthcare system in the U.S. is difficult to navigate, CVS has stepped up to solve a social problem on a national scale. Even people without insurance can have their basic ailments treated at CVS Healthcare.

Focusing on Results

Creative social entrepreneurship companies can and do provide more than one service at a time. CVS continues to be a retail store, even while changing its mission to adapt to current healthcare needs. There are now 1100 MInuteClinic locations in the CVS family. They have served over 34 million patients, with a 95% approval rating. Throughout its lifetime, CVS has filled nearly 2 billion prescriptions. It is affiliated with over 60 outside health systems. These numbers attest to the reach and effectiveness of a well-planned, versatile social enterprise. With all the debate and uncertainty surrounding health insurance, CVS is wise to focus its corporate social responsibility efforts on this area.