Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Essay:
An obvious threat is represented by all other entities and organizations that offer similar healthcare services, with an added note with those that do so more efficiently: large organizations such as hospital that are better able to capitalize on both a larger volume of patients and economies of scale that can derive from this. Other small practices on the community are also a potential competitive threat: patients tend to have a high level of loyalty when it comes to the physician they use, which may mean that there is an increased reticence on their part to consider switching their physician. This limits the prospects of potentially gaining new
The external analysis will include two main categories:
Porter analysis, aimed at identifying potential issues such as the bargaining power of consumers and of suppliers, the threat from substitute products/services, the threat of new entrants on the market and the degree of competition;
An analysis of the external factors that can impact the business, such as the political, economic, legal, social or technological environment, as well as the demographic environment, which is of particular interest here, given the community nature of the practice.
1. Porter Analysis. The most important element in the Porter analysis is the bargaining power of consumers. Not enough information about the number of similar practices in the community exist, but it is likely that the bargaining power of consumers is not too- high. The explanation for this resides in the fact that, generally, a physician is not usually changed that easily by a patient; there is a significant lag time before this occurs. If the community is a small one and the number of alternative medical cabinets is limited, the bargaining power decreases. The same argumentation goes for the threat of substitute products or services: there are no real alternatives to the service provided here, which is obviously to the advantage of the practice. At the same time, following the same logical line, there is a low or no threat of new entrants on the market: entry on the market is difficult, because this is a small community, where people are generally reticent to switch their physician.
2. External factors. The demographic factor is one of the important external factors that can influence the success of this business. This refers mainly to the way the population in the community is likely to vary due to migration in and out of the respective location. The demographic factor is also linked with the socioeconomic factors: the degree to which the community is able to offer new job opportunities and economic prospects for potential future residents is also going to impact the way that the physician practice will evolve in the future, both in terms of the number of patients and its capacity to potentially expand in the future.
The political factors will include the legislative actions that Congress will undertake and that the administration will promote in terms of providing an extensive framework for healthcare reform, one that would provide more people with health insurance. One can expect that such an expansion of the current legislation would allow more people to access health and medical services, increasing the volume of visits and number of clients at the practice.
Expanding the business is definitely an option in this case, but the choice could go for an expansion that minimizes risk, given the difficult economic environment and potential problems that may arise from demographic migrations out of the community. From that perspective, the best option would most likely be a partnership either with one of the larger healthcare units in the area or with one of the similar practices in the community. Such a partnership would allow the small business to benefit from pooling resources and from a larger group of potential clients that can be obtained from larger healthcare organizations.
1. Porter, M.E. The Five Competitive Forces That Shape Strategy. Harvard Business Review. January 2008
2. Internal and External Analysis. May 2010. On the Internet at http://mystrategicplan.com/resources/internal-and-external-analysis/. Last retrieved on September 4, 2010
3. SWOT Analysis: Internal Analysis. 1998. On the Internet at http://erc.msh.org/quality/example/itintern.cfm. Last retrieved on September 4, 2010[continue]
"Environmental Analysis Business Report This" (2010, September 03) Retrieved December 5, 2016, from http://www.paperdue.com/essay/environmental-analysis-business-report-this-8669
"Environmental Analysis Business Report This" 03 September 2010. Web.5 December. 2016. <http://www.paperdue.com/essay/environmental-analysis-business-report-this-8669>
"Environmental Analysis Business Report This", 03 September 2010, Accessed.5 December. 2016, http://www.paperdue.com/essay/environmental-analysis-business-report-this-8669
Environmental Issues, Business Ethics Background history on business ethics The term "business ethics" has contexts in different ways making the history of business ethics vary according to how one perceives the subject. The history is likely to vary on the historians. How they also perceive the term, what facts they seek to find as first hand information, and the importance the historians see on those facts. This subject solely depends on the
Business Report As happened with many service businesses during a recession, Jazz Event Productions experienced a drop in revenues in 2010. For a company that has grown steadily throughout its 15-year history, it was an unwelcome first. The decrease in sales occurred primarily because companies faced with tough economic choices because of the recession either cut back or eliminated entirely their budgets for special events. Whereas many of our loyal customers
Environmental Analysis: Target Corporation The objective of this work is to complete an environmental scan and economic analysis on Target and to identify any major changes expected to affect the remote, industry, and operating environments. This work will refine the analysis of the forces and trends, utilize a macroeconomic forecast of economic indicators affecting Target in the future and analyze the noneconomic factors in the remote environment including: (1) social/cultural; (2)
This equation is more equipped to take into account changes in costs and cash flows on an annual basis, and with energy prices likely to increase this will yield a better view of the situation. Assuming a 10% annual increase in the price per kWh yields the following costs of 15,000 kWh of purchased electricity: Year 0: $3,000 Year 1: $3,300 Year 2: $3,630 Year 3: $3,993 Year 4: $4,392 At a 75% savings, cash
In addition, vanity is a widespread issue throughout the country and the media perpetuates certain notions about what is beautiful and acceptable and the image is usually of someone who is not overweight. For this reason the diet and fitness industry makes billions of dollars each year with nutrition and exercise programs designed to help people lose weight. Global Trends From a global perspective the world is becoming much smaller. Globalization
Bank Manager A business report on the forecasted analysis of EcoGenics, Inc. Company with two products EcoGenics, Inc. Authored by: A business report on the forecasted analysis of EcoGenics, Inc. Company with two products Company overview Product cost estimate Variable costs Fixed Costs Selling Price estimate Cost plus price Market Price Break even analysis per product Company Break-even five year financial projection operational budgets five year income statements investment appraisal net present value environmental impact reflective About Our Company EcoGenics is a United States of America-based company that specializes in the manufacture and
Individual Business Report You required select organisation choice. This organisation work, worked past organisation access information. Supply Chain Management In its most basic connotation, supply chain implies the movement of goods from the raw materials stage through to the customer. Entirely all organizations across the world have some level of supply chain processes within themselves that accounts for the delivery of goods and services to satisfy the customer demands. The length