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Tag: CVS Health

  • Adopting an “infinite mindset” needs courage

    An infinite mindset always thinks of the long run rather than focusing on “low hanging fruits” in the short term.

    Since this relates to a vision , of something currently non-existential , it comes with its own set of risks.

    History is witness to the fact that visionary leaders who have adopted an “infinite mindset” have created and envisioned things beyond the realm of the ordinary finite minded leaders.Examples include Apple , COSTCO , Barry Wehmiller , CVS etc.

    An example which is mention worthy in this context would be CVS Health.

    When CVS embarked on its journey of nurturing good health for one and all , the giant step that it decided to take was abandoning sale of cigarettes across all its stores.The decision to change its name from CVS Caremark to CVS Health was in line with this vision as well.Though met with a lot of resistance in the long run the “just cause” did serve the company very well and helped it stand out from its competitors namely Walgreens and Rite Aid where the “finite mindset” obsessed leaders could not make up their mind to follow suit.

    Simon Sinek’s “The infinite Game” makes a mention of the same.

  • What makes “CVS” an infinite minded player?

    CVS Caremark in Feb 2014 , declared that it would stop selling cigarettes in all its stores.This was in line with the broader health care commitment it had embarked on.

    For many Wall street pundits this seemed a suicidal move  that would cost it revenues to the tune of billions of dollars.

    But what transpired was magical.All those who predicted that cigarette sales from CVS would shift to other local stores were taken by surprise.

    The move by the infinite minded player CVS had a lasting impact on the population who started reducing cigarette consumption and hence instead of shift in revenue due to sale of cigarettes the cigarette consumption itself drastically reduced.

    After a initial setback due to fall in share prices , as a result of this move , the share prices of CVS recovered since this was taken in a very positive manner  by the employees and population in general.

    In line with its infinite minded vision CVS Caremark changed its named to CVS Health in Sep 2014.This proves beyond doubt that an infinite minded vision is always for the long run and the risk taken proves its worth in the long run.

    Simon Sinek mentions about the same in his book titled “The Infinite Game”