The purpose of the following report is to discuss about the different perspectives of the business strategies by the organizations. The organization that has been chosen for this report is Orion. The business strategies are very important for the organizations so they can gain the competitive advantage in the business environment. The countries in which the organizations operate are very much important for the organization (Wagner & Hollenbeck, 2014).The formulation of the business strategies would be crucial for all the business organizations.
It is because several situations come into play when the organizations go on to expand their business all over the country and in other countries as well. In this paper the formulation of the business would be discussed depending on the PESTLE analysis of the company. The PESTLE analysis is very much important to discuss in this situation since it is considered as one of the most crucial business tools. It is very much effective as well. The market analysis is also a very significant component in this scenario. The chosen company Orion would look to create their business strategies in a manner so that they could stay ahead of their competitors on the national basis. The aim for the company is to produce a strategy in which they could plan something new and innovative.
The chosen company for this paper is the Orion Health. The company is located at New Zealand. The headquarters of the company is located at Auckland in the country (Orionhealth.com, 2019). The company provides the recent technology in the healthcare systems of the country. The company was founded in the year 1993. There are several opportunities for the company to flourish in the healthcare industry. The company provides the most recent technological software to the healthcare industry all over the world. As the healthcare industry provides the proper technology for the population health and precision medicine to the customers, it will be very much effective for the organization to support the cause of entire health community (Wagner & Hollenbeck, 2014).
The company has around 25 offices across 15 countries. There are around 1200 people who work in this country (Orionhealth.com, 2019). They want to bring a revolution in the global health care system so all the individuals would be able to receive the perfect care from the employees. They seek the perfect information from their customers so they can provide the most effective care for them. According to the sources, the information technology solutions of the country have been implemented in more than 30 countries all over the world (Orionhealth.com, 2019). The launching of the Amadeus, the big data cloud based platform for the organization would be very much effective for the organization. Thus they would be able to gain more number of customers in their favor. They are able to provide the best personalized healthcare solutions to more than 100 million patients (Orionhealth.com, 2019). This new data cloud based platform named Amadeus would deliver the best possible healthcare systems across several countries. This new cloud based platform would be able to serve the customers with the precision medicine.
The company is very much popular within the community and they always look to develop their services. The vision of the company is To revolutionize global healthcare so every individual receives the perfect care for them (Orionhealth.com, 2019). They believe that in this world the easy connection between the caregivers and the clinicians is very much probable. In the midst of this situation the company would look to improve their care services so they can sustain in the long run. It is very crucial to monitor the thorough progress of the organization so the company can innovate new services and products. If the company wants to expand into a new country they will have to make some plans by which they could get the desired success in those countries as well (Camisón & Villar-López, 2014).
The business strategy is very important for the organization because the chosen company Orion Healthcare will look to increase their customer base so they can cater to needs of the customers (Urbancova, 2013). The PESTEL analysis would be a very important business strategy tool to measure the success of the organizations when they would expand into the foreign market. The several factors that would be discussed in the paper are political, economic, social, technological, environmental and legal. All of these factors regards to Orion Healthcare would be discussed in the following section (Simon, 2013).
The political factors are very important in this regard for the expansion of the company in different countries. The rapid expansion of the company will be based on how they can overcome the political risks in the new country. The political stability of the country along with the condition of the Healthcare Equipment and Services sector within the country would have to be proper in the new country as well (Urbancova, 2013). The legal frameworks for the contract enforcement should be considered by Orion Healthcare on how they can proceed with this expansion. The impact of the bureaucracy of the government is also one of the biggest issues because the government of the host country can interfere in the organization’s day to day activities at anytime. The trading partners of the company should acknowledge the opportunities and risks of the expansion. The industrial regulations of the Healthcare Equipment Services Sector and Services should be noted by the organization in the best manner. The employee benefits in the host country should be discussed as per the laws of the host country. The company performance should enhance by these strategies (Ferroni & Mojon, 2014).
If the company expands to the Asian market like China and Japan they will have to keep in their minds that these countries do have a good and well-balanced economic growth rate at their exposure. This would surely impact on the growth and success of the company (West, Ford & Ibrahim, 2015). As China is a free market the intervention of the government would not be that much. This is why the organization would surely be able to flourish in these markets. However, the global recession and inflation rates might have a negative impact on the success rates of the company. Apart from that the rates of unemployment might create a problem for the growth of the company (Jurevicius, 2013). The company should look to develop their performance through the improving the infrastructure and maintenance of their products and services. The labor costs of the Asian countries are cheaper than the other regions of the world. This is why they can utilize this opportunity and gain maximum profits by the provisions of cheap labor Wilson, R. M., & (Gilligan, 2012). The interest rates fixed by the government will have some impact on the selling of their products.
If the chosen company Orion Healthcare chooses to expand to the Asian countries they must go through a proper research and analysis of the local demographics to capture the market (Yüksel, 2012). The skill level and capacity of the local people is very essential for the organization Orion Healthcare. This skill level will have a direct impact on the productivity and quality of services by the company. The power structure of the society is also a very essential fact on how they will deal with the issues with their customers. The culture of the society would be important for the company to assess (West, Ford & Ibrahim, 2015). The gender roles and the social conventions within the society of the Asian countries is somewhat different from that of United States and Europe. The people in this society believe more in the collectivism than that of individualism in Europe, Australia and United States. So, the organization should have to deal with them in a cautious manner without hurting their feelings (McDaniel & Gates, 2013).
The company Orion Healthcare would be highly motivated and effective if they expand into the Asian countries in this competitive business environment. As the functions of the company are based mainly on the providing the software support to the healthcare industry based in technology Orion Healthcare would be largely benefitted after expanding to the Asian countries. The performance of the company would increase a lot as well since the Asian countries like China and Japan have developed in technology faster than most other nations in the world. The impact of the technology on the product offering of the company will be positive in case of Orion Healthcare. The expansion of the company might be helpful to gain the profits if the logistics and value chain structure is controlled by technology. The cost structure of the products will have to be redesigned according to the acceptability of the customers. The selected company is very swift in the use of technology so they will remain much ahead of their competitorsv (Mcdonald, 2016).
If the company uses the technology on a regular basis they might also cause damage to the environment in several ways (Meissner, 2012). This is why the laws regarding the environmental pollution of the host country will have to be maintained by the Orion Healthcare. The recycling of the wastes should be managed by the organization so the environment can be secured. The company provides the healthcare equipments to the patients so they have to be much conscious about the green or ecology friendly products. This would surely improve the performance of the company in several ways and maintain the good reputation of the company as well. They should adopt the renewable energy sources for the keeping the environment safe (Czinkota & Ronkainen, 2013).
When expanding into the Asian market the management of the company should always think about the legal perspectives of the company. Several laws and regulations should be maintained by the company like the data protection and health and safety laws. This would ensure that the company is operating smoothly in the host country without any legal issues. The employment laws of the host country should be followed as well since they would recruit the people from the local areas as well (Meissner, 2012). They should care about the regulations related to the protection of the consumers and discrimination against the people from different backgrounds.
In this section some recommendations would have to be given in this section on how to improve their business strategies by finding about their strengths and weaknesses. The ways they can improve their business are as follows:-
Conclusion
At the end of the paper, it can be said that the strategic management of the New Zealand based company Orion healthcare should be very much strong in this criteria since their first preference is to provide the patient care to all their customers. In order to expand to the other countries especially in Asia they would have to analyze the business community and external forces of the country. The legal, economic and technological factors would be the most important facts in this regard. The organization should always look into the cross cultural issues in this matter while dealing with the employees of the host countries. The organization can only succeed strategically after they analyze their strengths and weaknesses. Thus they can build a proper business in the different country.
References
Camisón, C., & Villar-López, A. (2014). Organizational innovation as an enabler of technological innovation capabilities and firm performance. Journal of business research, 67(1), 2891-2902.
Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. Cengage Learning.
Ferroni, F., & Mojon, B. (2014). Domestic and global inflation. mimeo.
Jurevicius, O. (2013). Pest & pestel analysis. Strategic Management Insight, 13, 2013.
McDaniel, C., & Gates, R. (2013). Marketing research. Singapore.
McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.
Meissner, H. G. (2012). Strategic international marketing. Springer Science & Business Media.
Orionhealth.com. (2019). Orion Health | From Integration to Precision Medicine. Retrieved from https://orionhealth.com/us/
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Proctor, T. (2014). Strategic marketing: an introduction. Routledge.
Simon, B. M. (2013). The Implications of Technological Advancement for Obviousness. Michigan Telecommunications and Technology Law Review, 19, 331.
Urbancova, H. (2013). Competitive advantage achievement through innovation and knowledge. Journal of Competitiveness, 5(1).
Wagner III, J. A., & Hollenbeck, J. R. (2014). Organizational behavior: Securing competitive advantage. Routledge.
West, D. C., Ford, J., & Ibrahim, E. (2015). Strategic marketing: creating competitive advantage. Oxford University Press, USA.
Wilson, R. M., & Gilligan, C. (2012). Strategic marketing management. Routledge.
Yüksel, I. (2012). Developing a multi-criteria decision making model for PESTEL analysis. International Journal of Business and Management, 7(24), 52.
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