Business Research Applications Paper

Business Research Applications Paper

Name

Subject

January 24, 2011

Instructor

Introduction

The health care industry in today’s society is rapidly growing with the advancement of products and services navigating the way. Along with the numerous technological advances, the number of available facilities for individuals to choose between is vast. More often the reputation of the pharmacist on staff, and services available remain as the prominent deciding factors for individuals in choosing a health care institution. Because of recent changes in the area of reimbursement in regard to the Centers for Medicare and Medicaid, recompense is at present based on customer satisfaction scores rather than simply services rendered. A facility’s ability to focus on customer satisfaction will ultimately determine its future in the industry and success among its competitors. I currently work for CVS Caremark. The company fills or manages more than one billion prescriptions annually through its roughly 6,800 CVS retail pharmacy stores, specialty pharmacy division, PBM retail network pharmacies, mail order facilities, and online pharmacy. CVS Caremark is the country's largest specialty pharmacy, helping the needs of individuals who need multifaceted or continuing treatments. The main goal of the corporation is to provide positive experiences and guarantee satisfaction and the facility’s reporting systems and research methods serve as the instruments to measure success in those two areas.

Research Methods

“Business research is a systematic inquiry that provides information to guide managerial decisions” (Cooper & Schindler, 2006, p. 4). Research within an organization used in adherence to the process of exploring options for improvement and putting those opportunities to good cause. CVS’s corporate facilities have various reporting and researching tools simultaneously tracking the actions versus reactions within the facility and among its competitors....