Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Advancements in medical technology
Advancements in medical technology
Advancements in medical technology
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Advancements in medical technology
Another recommendation for Boston Scientific is to pursue a differentiation strategy instead of a cost-based leadership strategy. The oligopolistic nature of the industry and opportunities for innovation create an ideal situation for differentiation. This strategy is also dependent upon Boston Scientific acquiring and maintaining a plethora of patents. By using these patents, Boston Scientific would be able to create a distinct, innovative product that consumers would be willing to pay a higher amount for. Consumers would be less price-sensitive if Boston Scientific’s products were unrivaled and unique. Additionally, creating a technologically superior device could lead to a sustainable competitive advantage for Boston Scientific. Due to the
Organizational transformation happens when leaders are able to impact the culture in a positive manner, and he or she can lead an organization through changes, all while remaining encouraging and ethical. Northouse (2013) defines leadership as a process whereby an individual influences a group of individuals to achieve a common goal. Leadership ethics is about who leaders are, their character, what they do, and their actions and behaviors (Ethical Leadership, 2016). This case study is about leaders at a Texas plant, and how their leadership style, communication, and ethics affected the organization.
The Boston Matrix is commonly used to try and help plan the future of a company as well as simply categorising products. Bu...
Research and development is a very important aspect of this industry and it is very draining on a company's funds. Great emphasis is also placed on product placement and marketing. Though these products are usually marketed towards industry professionals such as doctors and hospital management.
Michael Porter developed a concept known as the competitive strategies. It consists of 3 separate approaches to create the framework for your business. I have decided to focus on the Cost leadership approach.
...tly governing its scientific and technological company successfully to gain a competitive advantage. These recommendations will help U.S. businesses to rebuild the competitive advantage they once had.
Boston Scientific is currently working several strategies horizontal integration market penetration, market development, and product development based on their statements in their core values (About, 2015). While these strategies could be beneficial to the company, I do not think that the timing is right. Due to the poor economy and new changes, with effects unknown yet, choosing to grow could hurt them while the economy is not in the best stable condition. This is why I have suggested Boston Scientific to utilize the retrenching strategy in order to down size and rebuild.
Lead exploration of new opportunities to ensure the product line maintains a sustainable advantage over competition
Leadership is increasingly important in today's society. Many experts and scholars point out that the current leadership crisis concerns moral and character problems in many leaders (Ahn, Ettner, & Loupin, 2012; Callahan, 2004; Wright & Quick, 2011). The following interview report is intended primarily for exploration and comparison of the traits and characteristics of leadership. A leader of a clinical medicine centre was interviewed for this report. The purpose of this report is to explore the leadership characters and traits, and how they can be developed in this turbulent environment. First, I make a brief introduction regarding the background of the respondent and her working environment. The report also describes this leader's personal and subjective perceptions in relation to a literature review which investigates the traits and characteristics of leadership. The report concludes with a comparison and discussion of the results of the clinical condition on the basis of the interview and literature review. At the same time, the report aims to put forward feasible and effective advice and specific programs for present and future leaders and managers in the health care system.
E. I. du Pont de Nemours and company (known as DuPont) has grown to become a global industry leader in a variety of fields. It appears DuPont has done so by following the seven rules of innovation. This paper will discuss the seven rules and how DuPont implements and utilizes them.
...&D capability was not supported by their ability to efficiently produce and market the innovation. Since the R&D is separated from production and sales, it was not market-oriented enough. The limitation of sharing local market knowledge also leads Philips to its inability sell the excellent innovation that R&D has developed. Seeing this as opportunity, Japanese companies able to combine Philips invention with their mass-market production ability and successfully became the leader in the market.
2. What were the critical marketing decisions that helped Tesla stand out among other companies and become the lead innovator in its
According to McConell (2012), the difference in a leader and a follower determines the success of a person regarding leadership. This chapter helps explain the content of qualities and proficiency for healthcare managers to be effective. Once again, effective management skills or certain qualifications enhance a healthcare organization environment. Healthcare managers and supervisors must have the capacity to handle challenges while the organization objectives and regulations may change over a period of time. Effective healthcare management governs the success of a healthcare organization. There are many different skill sets and leadership styles to be effective as a manager. People are interested in knowing what strategies are effective in healthcare management.
As our text explains, "The action of competitors exerts pressure to put more money now into marketing, research, and product development" (Drafke, 2009. p. 143) it is truly a never ending competition. Therefore, there are many aspects that affect the resources a business has to work with from prices of product, operating costs, payroll, and many more. The business world uses all its resources to stay on top of the competition. . That is why any business must stay on the forefront of technology, as this is a huge asset in the world today for any business. It must use technology help in managing time, cost containment, and product in order to compete in this world of overabundance
Zogjani, A., Llaci, S., Elmazi, E., & M.P.A. (2014). THE ROLE OF POWER IN EFFECTIVE LEADERSHIP AND FOLLOWERSHIP: THE ALBANIAN CASE. Romanian Economic and Business Review, 9(1), 89-102. Retrieved from
Managers should take note of the value in inquiry, development, and forecasting future technological innovations in order to keep ahead of their competition.