As the largest drugstore retailer in the country, CVS Caremark plans to quit selling tobacco products. It means that $2 billion dollars from selling cigarettes will be cut. To a company, it could be a big loss. However, in my opinion, CVS Caremark is showing its social responsibility by banning the sale of tobacco. It is true that a business should always maximize profit for its shareholders. According to Milton Friedman, this rule has an essential precondition which is to follow social customs. CVS Caremark realizes the damages caused by smoking and seeks for a positive change. I can say that, under this situation, CVS Caremark becomes a role model for all drugstores by devoting itself to stop selling tobacco products. However, CVS Caremark does not quit on profits for shareholders in regards of this product. It plans to offer health insurance plans and programs to change its orientation for a better future. CVS Caremark wants to provide a healthy lifestyle to its stakeholders instead of the benefits earned by selling tobacco products. This company embodies its business ethics, which is beneficial to all of its stakeholders.
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