Free Samples
HI6006 Competitive Strategy For Aged Care Company
.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}
HI6006 Competitive Strategy For Aged Care Company
0 Download6 Pages / 1,370 Words
Course Code: HI6006
University: Holmes Institute
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Questions:
Write an essay explaining what the main strategy development tools are and how they are used in business.
Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, Five Forces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross Impact Analysis), Generic Strategies, Ansoff, Ghemawat, with reference to academic journals and practical examples from industry.
Answer:
Introduction
In this paper, the discussion will be made on development tools. The development tools that will be discussed in this paper are Porter five force analysis and Pestle analysis. It has been seen that these tools help the company to identify the environment so that it can be simple to accomplish goals and objectives in a proper manner. To achieve competitive advantage the company has to focus on the development tools so that the operations can take place in a smooth manner. It is essential for the company to consider these tools as it helps to complete the activities in the right direction. There are two companies which are selected for the paper first is Estia which is and second is Abbott which is a pharmaceutical company. The proper discussion will be made by considering these two companies for this paper.
It is important for the company to focus on these development tools as through this actual position of the company can be evaluated. By focusing on these development tools companies will be able to analyze the actual position which can help to compete with the other competitors prevailing in the market.
Estia (Aged Care Company)
Porter Five force Model
This is one of the development tools which are taken into consideration so that proper focus can be given to competitive forces so that growth and profits can be earned. This tool gives emphasis on the overall activities of the company.
Threats of new entrants
There are many new companies who are entering the market by offering the same services. It can be analyzed that when new companies enter into the market then the negative impact is seen on growth. The pressure which company has to face is related to low price strategy. The level of threat is high in this sector (Grant, 2016).
Bargaining power of buyers
Bargaining power of buyer is high in this sector as they get attracted towards the best and fewer prices offered by the company. It can be seen that if the company is giving effective services then it can be simple to attain a large market share and also through this goodwill can be maintained. The bargaining power of buyers can be managed if the proper customer base is maintained.
Bargaining power of suppliers
The companies who are in the healthcare sector can easily avail raw materials from their suppliers and also the suppliers who are powerful in this sector can focus on the power of negotiation. It is essential to create dedicated suppliers whose profits depend on the company. The example can be taken of Wal Mart and Nike who have less bargaining power.
Threat of substitutes
The substitution rate is high in this sector as there are companies who are offering the same type of services in the marker. The threat can be reduced by emphasizing on a service-oriented firm. The company emphasizes on the need of the customers rather than focusing on what the customer wants to purchase. The switching cost of consumers can assist in managing the threat of substitutes (Rothaermel, 2016).
Rivalry among the competitors
Rivalry in this sector is high so it is important for the company to reduce the prices of the products. It has been seen that a company can manage the competition level by creating sustainable differentiation and also by creating the scale that can be completed in a proper manner. Collaboration can also be the factor that can help to enhance the market share rather than giving competition in the small market. Through this activities can be conducted in a proper manner and by reducing the level of competition (Porter and Heppelmann, 2014).
Abbott (Pharmaceutical Company)
Pestle Analysis
Political factor
It has been analyzed that public expenditure on health is less if the comparison is made with other countries and also the pharmaceutical company is more dominant in the private sector. There are facilities of the government which help to attract foreign investors by focusing on policies of investor-friendly and tax incentives. The government focuses on offering the drugs by focusing on telemedicine in Australia. The emphasis of the government is also on boosting good partnerships with the private and public sector. The medical tourism is also promoted by the government (Ho, 2014).
Economic factor
The expenditure related to health care can be availed from the patient just due to high income. It has been seen that the merger of pharmaceutical companies has projected the stock value growth of 10.5% in the period 2003 to 2010. The spending behavior of the public in Abbott will enhance as there are many cases of rising and lowering the income (Moutinho and Phillips, 2018).
Social-cultural factor
The main focus of the company is on offering good services to people so that their health can be maintained. The rate of population in Australia is high so there is a high consumption of medicines. The increase in the overall literacy rate has brought improvisation in the healthcare sector.
Technological environment
The company is offering cost competitive medical treatment so that the satisfaction level of the people can be satisfied. It is important for the company to focus on speeding up the technology. If there is a slow speed of technology then it can take more time and of technology is fast then profits can be increased. In Abbott, the technological impact is analyzed on product offering and also on diffusion related to technology (Jarzabkowski and Kaplan, 2015).
Legal environment
The government focuses on employment law, data protection and also on safety law so that people can easily avail the services. It has been seen that these laws are legal and it is considered by the company so that growth can be achieved.
Environmental factor
To operate the activities in the market, the company focuses on various factors like weather, climate, and change. It is important to focus on proper rules so that operations can take place in the right direction. It has been analyzed that environmental factor has been an important aspect in the present scenario. The health issues are raised because of the air pollution and water pollution. So, the chance to earn a profit is more and also the focus is on managing the environment.
Conclusion
Therefore, by analyzing the paper it has been concluded that this development plays a great role in accomplishing the goals and objectives of the company. It is important for the company to focus on these tools so that accurate decision can be made. Without these development tools, the company does not forecast their future. Forecasting of the future can be done with the help of these tools. It is essential to emphasize proper growth so that the company can easily achieve high profits. Through these tools, it can be simple for the company to analyze the competition level in the market and also it will help to consider the strategies which will be beneficial for the growth of the company. These tools have an important role in identifying the weakness and strength present in the business environment. Without proper investigation, it is not simple for the company to focus on the right direction and consider proper operations for the company. By taking into consideration these tools it can be easy for the company to achieve positive results in an effective manner.
References
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Ho, J.K.K., 2014. Formulation of a systemic PEST analysis for strategic analysis. European academic research, 2(5), pp.6478-6492.
Jarzabkowski, P. and Kaplan, S., 2015. Strategy tools?in?use: A framework for understanding “technologies of rationality” in practice. Strategic Management Journal, 36(4), pp.537-558.
Moutinho, L. and Phillips, P., 2018. Strategic analysis. In Contemporary Issues in Strategic Management (pp. 46-79). Routledge.
Porter five force analysis., 2018. edrawsoft. [Online]. Available at: https://www.edrawsoft.com/five-forces-chart.php.[Accessed on 8 August, 2018].
Porter, M.E. and Heppelmann, J.E., 2014. How smart, connected products are transforming competition. Harvard Business Review, 92(11), pp.64-88.
Rothaermel, F.T., 2016. Competitive advantage in technology intensive industries. In Technological innovation: Generating economic results (pp. 233-256). Emerald Group Publishing Limited.
Free Membership to World’s Largest Sample Bank
To View this & another 50000+ free samples. Please put
your valid email id.
Yes, alert me for offers and important updates
Submit
Download Sample Now
Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.
UploadUnique Document
DocumentUnder Evaluation
Get Moneyinto Your Wallet
Total 6 pages
PAY 4 USD TO DOWNLOAD
*The content must not be available online or in our existing Database to qualify as
unique.
Cite This Work
To export a reference to this article please select a referencing stye below:
APA
MLA
Harvard
OSCOLA
Vancouver
My Assignment Help. (2021). Competitive Strategy For Aged Care Company. Retrieved from https://myassignmenthelp.com/free-samples/hi6006-competitive-strategy/effective-manner.html.
“Competitive Strategy For Aged Care Company.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/hi6006-competitive-strategy/effective-manner.html.
My Assignment Help (2021) Competitive Strategy For Aged Care Company [Online]. Available from: https://myassignmenthelp.com/free-samples/hi6006-competitive-strategy/effective-manner.html[Accessed 18 December 2021].
My Assignment Help. ‘Competitive Strategy For Aged Care Company’ (My Assignment Help, 2021)
My Assignment Help. Competitive Strategy For Aged Care Company [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/hi6006-competitive-strategy/effective-manner.html.
×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}
×
Thank you for your interest
The respective sample has been mail to your register email id
×
CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.
Account created successfully!
We have sent login details on your registered email.
User:
Password:
Frequency tables are applicable in almost every subject from economics to physics, mathematics etc. Thus, you need to have a strong foundation on the subject matter. However, if you find it to be challenging, then do not hesitate to avail our assistance at MyAssigmenthelp.com. We provide help with frequency distribution tables in mathematics to frequency tables in economics. Interestingly, we offer a wide array of writing services at an affordable price. Our math solvers play a huge role in assisting students who require statistics help. Furthermore, we offer proofreading to check for any inconsistencies in the answers.
Latest Management Samples
div#loaddata .card img {max-width: 100%;
}
MPM755 Building Success In Commerce
Download :
0 | Pages :
9
Course Code: MPM755
University: Deakin University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answers:
Introduction
The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…
Read
More
SNM660 Evidence Based Practice
Download :
0 | Pages :
8
Course Code: SNM660
University: The University Of Sheffield
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United Kingdom
Answers:
Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Read
More
Tags:
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration
BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :
20
Course Code: BSBHRM513
University: Tafe NSW
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answer:
Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…
Read
More
MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :
5
Course Code: MKT2031
University: University Of Northampton
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United Kingdom
Answer:
Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Read
More
Tags:
Turkey Istanbul Management University of Employee Masters in Business Administration
MN506 System Management
Download :
0 | Pages :
7
Course Code: MN506
University: Melbourne Institute Of Technology
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Answer:
Introduction
An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Read
More
Tags:
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology
Next