Thank You For Not Selling: Historian Nancy Koehn On CVS' Tobacco Bantags: Nancy Koehn, CVS, tobacco
Last week CVS Caremark, one of the largest retailers and pharmacies in the nation, announced that it would stop selling all cigarette and tobacco products by October, 2014. The rationale behind this has to do with some serious cognitive dissonance. As CVS CEO Larry Melo put it in a recent press release, "Tobacco products have no place in a setting where health care is delivered." Of course that statement immediately got the attention of numerous health enthusiasts and experts who are saying why stop at tobacco? Why not ban candy and soda too?
Harvard Business School historian Nancy Koehn joined Jim and Margery on BPR for her analysis of CVS' bold business maneuver. In short, she sees this as a supremely wise and forward thinking move. Not only is CVS positioning itself as a health and wellness center, it's also responding to the Affordable Care Act and society's need for efficient, affordable, and streamlined healthcare. Of course, you need to hear this in Koehn's own words. Who knew someone could make CVS (AKA Consumer Value Service) such good radio?
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