Developing Corporate Strategy

Synergy occurs when the combined benefits of a firm's activities in two or more arenas are more than the simple sum of those benefits alone. CVS Caremark achieves synergy by integrating its' pharmacy and Minute Clinic. This strategy allows consumers to receive treatment as well as have their prescriptions filled all in one convenient stop. Most large and publicly traded firms offer multiple products and services through a process called diversification. CVS Caremark builds its' diversification by offering products in retail and services in pharmaceuticals and healthcare.