HA616_Executive Summary

.docx

School

University of Texas, El Paso *

*We aren’t endorsed by this school

Course

4304

Subject

Health Science

Date

Apr 3, 2024

Type

docx

Pages

Uploaded by bnmarquez89

Running head: EXECUTIVE SUMMARY 1 Executive Summary Bianca Huntsman HA616: Healthcare Strategic Management and Marketing Dr. Lee Bewley March 8, 2019

EXECUTIVE SUMMARY 2 Medtronic Background Medtronic is a global device manufacturer that develops pacemakers, defibrillators, orthopedics, diabetes management tools and many other medical devices (Mathews, 2018). Medtronic has a significant market share in the core heart devices industry. Medtronic offers supreme diabetic management around the clock. The Medtronic Diabetic Group is the world leader in advance diabetic management, operating three global business units to serve consumers worldwide to include: The Advanced Insulin Management (AIM) Business Unit, The Multiple Daily Injection Solutions (MDIS) Business Unit, and The Non-Intensive Diabetes Therapies (NDT) Business Unit (Medtronic MiniMed, 2019). The company’s primary stakeholder consists of a variety of internal, interface, and external patrons that affect the Medtronic Diabetic Group. Key Environmental and Organizational Findings Internal: The Medtronic internal stakeholders are the managers and employees who put in time and effort to produce and change consumer’s way of living. The assumption is that the estimated project influence and importance is moderate to high. Interface stakeholders are those who function both internally and externally (Ginter, Duncan, & Swayne, 2013). Interface: The Medtronic internal stakeholders are physicians, unions, and global community. The global community and internal stakeholder, aim to transform diabetes care by expanding access, integrating care and improving outcomes, so people living with diabetes can enjoy greater freedom and better health (Medtronic, 2016). These stakeholders are of high importance to the success of Medtronic. External: The Medtronic external stakeholders operate outside the organization and include such entities as suppliers, third-party payers, competitors, regulatory agencies, and the

EXECUTIVE SUMMARY 3 media (Ginter, Duncan, & Swayne, 2013). Medtronic external stakeholders consist of: Government, Facilities, Technology, Insurers, Patients and shareholders. This acquisition will enable Medtronic to accelerate its new therapies through an expanded R&D budget, extend them to more people in emerging markets, and expand its commitment to make the health care system more efficient (George, 2014). External factors are the organizational ecosystem influencing the network of Medtronic. The assumption is that Medtronic external stakeholders operate outside the organization and have moderate to high influence on the organizational ecosystem that affects its organization. Analytic Techniques Applied Medtronic can use this report of analytical techniques to develop a strategical approach towards business grow in the market. Porter's Five Forces is a simple but powerful tool for understanding the competitiveness of, Medtronic, business environment (Mindtools, 2018). The value chain as a strategic thinking map provides the health care strategist with a framework for assessing the internal environment of the organization (Ginter, Duncan, & Swayne, 2013). With a global market, Medtronic can use Porter’s Value Chain Analysis to analyze effect on the production, maintenance, sales and support of the products or services to be supplied. Enhancement strategies, can be directed toward innovative management processes, speeding up the delivery of the products/services to the customer, and adding flexibility to the design of the products or services (Ginter, Duncan, & Swayne, 2013). Medtronic value-adding service activities are critical to the success of the organization because they are the principal methods for creating value. Analytic Findings

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help