The paper "Strategic Analysis of Fisher and Paykel" is a good example of a Management case study. Fisher and Paykel started involving itself in health care in the late 1960s. The company is listed in the New Zealand stock exchange and Nasdaq. Subsequently, the company is listed in the Australian stock exchange. The company boasts of an excellent consistent growth strategy. Fisher and Paykel projects expanding a wide range of innovative medical devices to improve care to patients. The strategy aims at improving the outcome for patients and subsequently increase returns to shareholders.
Further, Fisher and Paykel intend to invest in research and development in medical technology to assist clinicians in providing first care to patients. The strategic goal of investing in research and development will help the company to acquire new and improved medical equipment (Guttma and Hawkes 2004). The equipment will contribute to the company’ s array of technologies which are paramount in providing excellent services to its patients. 1.1 The business strategy for Fisher and Paykel 1.1.1Strategic management and strategic competitiveness Fisher and Paykel have faced a wide array of risks problems and issues.
The risks, issues, and problems are financial, operational, competitive, and strategic in nature. Fisher and Paykel have responded to competition through planning in order to anticipate unforeseen changes in the health sector. The company bases its plan on strategic planning to enhance its performance and serve patients well. Fisher and Paykel’ s strategy is a game plan for research and development. The company’ s strategic interests are to meet stringent standards in order to ensure market acceptance. The strategic issue is that the company attains quality and controls in its services.
The company operates a quality management system that provides standards that are in accordance with the international standards for offering healthcare. The standards apply to both the manufacturing facilities and the sales network (Hanson, 2008). Fisher and Paykel have strategically put in place mechanisms to aid its growth internationally. The company hired qualified staff to market its wide range of products. The employees work hard to ensure that their products are supported. The move further aims to ensure that the companies' products and applications get the attention of health professionals. This strategy has ensured the company generates approximately 99% of its sales revenue outside New Zealand (Fisher & Paykel 2012).
The company ensures that its product is manufactured and assembled in a controlled working environment. The products are certified by the standards of certification. At the heart of Fisher and Paykel’ s strategic management in the strategic planning system (Hoffman 2007). In this system, Fisher and Paykel ensure that strategic management is incorporated into the strategic planning of its activities. The strategic management process at Fisher and Paykel ensures that a full set of commitments decisions and actions are putting the place for Fisher and Paykel to achieve competitiveness and achieve good profit margins. 1.3 Internal and external environment A firm’ s strategic management process is looked at from its analysis of the internal and external environment (Katsioloudes 2006).
The company has put up strategies to ensure that patients are adequately taken care of and that they have a positive outcome with the company.
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