Essay on Medtronic External and Internal Analysis

This is a case about Eric Peterson, who was recently hired as a product manager in charge of sales and marketing of Biometra’s catheter. This product from Biometra, a subsidiary of Scientific Materials (SciMat), was the first product ever launched by Biometra and so its success was critical for both Biometra and SciMat. From the case we see that even though Eric Peterson tries hard to meet the product target launch date, there are several issues that he and the organization are experiencing.

The aging population will likely impact the future demand for health services. Approximately 44 million people who live in

as one of the ten most outstanding engineering achievements in the world over the past 50 years,

Life expectancy has increased over the last century. With this greater survival rate, there needs to be an increase in the rate of spending for Medicare. Despite what one does to improve their health behavior, the need for medical care cultivates as one ages. This need will continue to increase significantly as medicine continues to modernize.

Baby boomer aging is one of the large causative factors of this increase in demand (Glicken & Miller, 2013, p.1883-1889). According to Glicken & Miller (2013), the elderly population will nearly double in the next fifteen years putting a strain on the healthcare workforce. Also, more than half of physicians have intentions on limiting care access with regards to Medicare patients. Many medical doctors are refusing to care for Medicaid patients. This is a result of the growing number of individuals now with the means to afford healthcare due to the

As this baby-boomer generation continues to age there will be profound effects on the way that money is spent on health care and insurance. With approximately 77 million people turning 65 over the next several years, the amount of government spending on Medicare will greatly increase (Gigante, 2012). Thus, the demand for medical care associated with the aging population will so

It is widely believed that the aging of the U.S. population is a major driver of the annual growth in the demand for health care and in national health spending

One technological change that may have the largest effect on our lives today is the rapid growth of medical technology development. Three main effects that medical technology has impacted our modern society are prolonging lifespan, improving quality of health care and promoting nation’s economic growth. The three stages of medical technology are review by regulatory agencies, technology assessments by insurance carriers, and review by purchasers, clinicians, and consumers. Review by regulatory agencies is the most recognized of the three stages and is administered by the Food and Drug Administration (FDA). The FDA is responsible for protecting and promoting public health by regulating pharmaceutical products and medical devices. Each product must go through a series of approvals, clinical trials, and post market surveillance protocols in order to ensure its safety and effectiveness. www.nap.edu

approvals such as diagnostic test, prescription medicines, clinical trials and however insurers are using to

Exporting has become a very important business strategy nowadays. In order for firms to expand to the international market, and also to maintain and grow their share of market in whatever industry they are in, depending on their goals and objectives, any company must at least explore this possibility. A few and important advantages might come into place, in that they can extend their sales potential of their existing products, increasing margins through a larger customer base. Also, these small to large businesses can consolidate by gaining global share of market, they can reduce their dependence on their existing markets,

The market size we are dealing with is currently large, and only growing. According to J. Davis: “The elderly population is the fastest growing niche market in the world- and its only getting bigger! By year 2030, the US elderly population will have doubled, reaching in excess of 70 million!”

The process of globalization has numerous significant effects on countries, organizations, and individuals. These effects can be observed in the quality of products, in their prices, but also in their availability. Because of globalization, numerous companies prefer to expand their business on international level. Some of them outsource some of their processes and activities to cheaper destinations that allow them to reduce their investments.

This can be seen from Fig 3 that the export and import during 2005 and 2006 have significantly increased and it is foreseen that the future global trend would be increasing. Also, in order to lower the production costs, lots of international companies will transfer part of work in some countries with lower labor and material costs. This kind of out-sourcing activity enhances the global cooperation as well.

3. The challenges involved in exporting are the same of any other international operation; there are commercial risks, political risks, cultural risks and currency risks. In order to be prepared to face these risks the company would indeed need to invest and create an export team, hiring and training employees in international operations. The team will require skills in areas such as product development, logistics, finance, currency management, foreign languages and cross-cultural skills.

Although there is evidence from many studies that disability rate is declining in the U.S.2, the rapid expansion of the oldest-old age group will continue to pose health care challenges for future generations. Disability prevalence rates are very high in the oldest-old3 and even reached 97% in