You continue to provide promising global strategy advice for MediCorp, Inc. The company has been so pleased with your contributions to their strategic planning and development that they would like you to assist with a new endeavor.
You continue to provide promising global strategy advice for MediCorp, Inc. The company has been so pleased with your contributions to their strategic planning and development that they would like you to assist with a new endeavor. Leveraging their strength in manufacturing genetic testing devices, MediCorp now wants to diversify their offerings and expand within the field of medical diagnostic devices. This is a large field that extends to a myriad of products, such as thermometers and blood sugar monitors. Which are commonly used in the home, as well as MRI and X-ray machines, which are used in clinical settings. MediCorp has asked you to identify a medical diagnostics device that the company can use as a vehicle for expanding into China or Germany.
Subsequently, choose either China or Germany as a location for MediCorp’s expansion. Create an international business plan that guides the company’s operations in that country and grows MediCorp’s business within the selected device’s NAICS industry subsector. You will need to employ the lessons from your simulation to develop a strategy that examines MediCorp’s potential customers, business operations, financial projections, and implementation metrics. As this client’s business grows, Maryland Creative Solutions CEO, Jillian Best, emphasizes that it is critical for you to provide clear. Also, concise analysis in your reports to MediCorp. She remarks, “Success with these reports could mean big things for MCS as well as for each of you. Let’s finish strong.”
Building on your Capsim simulation and your analyses of MediCorp, Inc. in the global and local markets. Firstly, you will now craft an international business plan that calls on you to devise a marketing strategy, develop financial projections, and create a strategy implementation plan for the company to market a new product in China or Germany.
Secondly, you will estimate the investment required to relocate one or more activities from MediCorp’s value chain in the United States to your selected country, China or Germany.
Let us continue crafting an international business plan for China or Germany.
First, select either China or Germany as a new market for MediCorp to expand into, and decide on a medical diagnostic device that MediCorp can use to drive expansion. To help with your analysis of the industry, you will need to identify the NAICS code for the industry subsector to which your selected device belongs. Then, begin to develop a six- to seven-page marketing strategy for MediCorp.
As you begin your marketing strategy for MediCorp, first analyze the characteristics of the company’s potential customers in the new market. Then, address the international cultural differences.
Now that we know more about MediCorp’s potential customers. We need to examine some key attributes of the company to adequately prepare it for international expansion.
Include the following components in your marketing strategy:
selection of new product for MediCorp to introduce in the selected country.
MediCorp’s main competitors in the medical diagnostics devices industry in the selected country
market and segment growth over the next three years
Where does MediCorp add value as a way of gaining a competitive edge?
the legal business entity to market the products in the country (review Modes of Entry for help)
impact of the country’s legal, ethical, and cultural standards on MediCorp’s operations in the country. (review Governance and Accountability for more information)
As you continue to work on your international business plan prepare market share estimates for MediCorp’s product(s) in the selected country and revenue forecasts for the next three years.
This analysis will form a portion of your final international business plan. In the next step, you’ll examine another element of the business plan, strategy implementation.
The next step is to specify the major factors to be tracked for strategy implementation using the four perspectives of the balanced scorecard. The learning and growth perspective, business process perspective, customer perspective, and financial perspective.
Next, you will combine your marketing strategy and your financial, governance, and implementation analysis into a final report.
It’s been a pleasure working with you on this project. I’m looking forward to seeing the final deliverables.
Lastly, the international business plan should be 10–12 pages, excluding cover page, executive summary, reference list, and appendices. Additionally, any tables, graphs, and figures should be as appendices. Your plan should have one-inch margins and be double spaced in 12-point Times New Roman font. In-text citations and references should abide by APA format. Lastly, the plan should be organized using headings and subheadings to improve its readability.
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