International Business Strategy of TeleMedicine †Free Samples

Question: Discuss about the International Business Strategy of TeleMedicine Australia. Answer: Introduction TeleMedicine Australia (TMA) provides an array of services through adoption of video-conferencing and other notable multimedia platform. It also makes it easier for a medical practitioner to dispense their services on 24/7 basis. The firm is currently based in the Australia. However, they do render their services internationally. The firm is anticipating to open more branches to other parts of the world and this particular time they are eyeing on the Indian market as a telehealth entrant firm. It is for this reason that the firm has to take clear analysis of the market in India in order to gauge their suitability and able to establish whether the environment would be suitable for their operations. TMA is currently utilizing the Electronic Medical Record which makes it simpler to use stethoscope and other important cameras in the room. Similarly, TMA does diagnosis using their online exam room site. One may also use their smart phone anywhere to access to the medical information of th eir children using the TMA online exam room. Feasibly, Telehealth is working tirelessly to see to it that it realizes incredible innovation that would make it easier for any medic using the platform to conduct their services under noble monitoring and utilizing of advanced technology. For instance, TMA is heightening its services to make it possible for patients from different parts regardless of their geographical location to access medical services at their places of convenience. Patients get better services using the apps on their smartphones. They do get the correct prescription when they log into the TMA telemedicine site where everything is online and immediate response is delivered to the patients at a particular point of their diagnosis using the telehealth. Therefore, it is ideal to indicate that there are various telehealth facilities rendering such services apart from TMA. However, for analytical purpose, it would be very prudent to only concentrate on the performance of TMA and its bid to expand its business to Indi a. The idea of moving from hospitals which are distant have been lessened through the operations of this telehealth centers which are making medical facilities reachable and accessible at any time of the day. One is not worried of any constraint at hand as everything is well taken care by the firm rendering such services. It has further been established that most patients enjoy this services and it is cost effective on their part rather than the traditional way that also used to consume a lot of somebodys precious time and very involving in terms of traveling every now and then. Economist model Using the economist model to judge the performance and suitability of this TMA, it is prudent to state that both Stochastic and non-stochastic model would be of great significance in analytical approach to come up with clear picture of the situation and assess its services at length. This virtually relies on variables that are observable over a long period. It is ideal to note that for one to know the services rendered by TMA, it would be very important to apply this model so as to ascertain its efficacy in its operations. In nutshell, the model squarely relies on statistics and majorly delves on descriptive type of statistics. This implies that there is the element of collection of data about TMA and using the statistical analysis such as use of SPSS to arrive at the position at hand at that length of time. Similarly, some relativism of comparison are made between the current and the past value performance to know the magnitude and performance of the entire firm for clear analysis. This model applies the use of social choice theory that majorly delves on qualitative and quantitave variables. The social choice theory encompasses combination of opinion, some preferences, and interests of particular organization so as to reach a common goal through integration of divergent views. This telehealth works in the approach that if the price of an item is increased definite ly the demand would go down. There is one on one correlation between the price and its constituent demand in any market. From the research that was conducted by the American Association for Retired people in 1996, the aged people prefer to get their medication and health services back in their respective homes. This is a clear attribution for the success of Telehealth as they render medical services at a patients point of preference or convenience. Therefore, approximately more than ninety percent of people who are above 65 years prefer to be treated at their homes and this makes it viable for telehealth to be of aid for this particular group. Primarily, with the introduction of the above medical scheme to different countries and most importantly in India, it would be of great benefit not only to the society but also nation at large. This provides an array of freedom and making the provision of services to be very flexible unlike the rigidity that used to be observed from the traditional way of dispensing same medical services. This kind of freedom is the one that makes most of the clients to fully fee l affiliated to the firm leading to its fastest growth in respect to other sectors. It has been further established that this way allows a patient takes the medicine duly and thereby improving on their adherence their adherence which plays a very instrumental role on their health. Ideally, one gets the care and other health services that are of primary value since the care has been closer to them and they can have one on one interaction with the medics as one can pose a question related to their health status to get clear and fast response on what is taking place. Therefore, telehealth has greatly reduced the cost and the bustles of regular visitation to the hospital. It is the best operations that ought to be fully embraced as it results to positive results and further provides a better avenue where one would be able to get the best services without incurring much. The Porter Diamond model This model squarely relies on the following elements namely; chance, factor conditions, firm strategy, government, and related supporting industries. TeleMedicine Australia (TMA) is anticipating to open its operations in India. There are innumerable factors that it has to be put in place to actualize this. First, it has to critically take look at the Indian environment in various aspect. Above all carrying out PESTLE analysis of the said country before initiating its business would be very prudent as TMA would know whether the political situation within India allows one to favorably invest and conduct their business well without any much hindrance. Factor conditions Looking at the political situation, the aforesaid firm ought to establish whether the above policies being formulate by the government of India is favorable for the foreign investors. This is the bottom line of everything as the firm squarely depends on the political situation and policies of a place to make rightful decision to its business before its commencement. Moreover, this allows a firm to make some analysis of the Foreign Direct Investment in India to ascertain whether they are engaging in profit making business in a foreign country. It has been found out that some countries put some stringent measures on foreign firms thereby limiting them to fully invest in such countries due to those measures which seem to be hard for a foreign investor. The magnitude of technological move matters a lot in a given country. This in essence means that in well advanced country, technological improvement is key. This makes the competition to be very stiff as there is much advancement in terms of technology. The notable thing about India is that the level of corruption is very low and thereby the economy has not been significantly affected. According to the research that was carried out in 2005 by National Health InformationManagement Advisory Council (NHIMAC), it was established that India is 79th place worldwide in terms of corruption. This is not badly off as compared to some countries in the world. Additionally, there is political stability and thereby a firm would not assume high volatility rate as compared to when a firm inve sts in a very hostile environment that is very unpredictable. Demand conditions Most of the targeted group live in urban centers where they can aces the electricity and able to be online on 24/7 basis increasing the demands for personnel who would anticipate to get services from the earlier mentioned telehealth. Moreover, it is ideal to note that 95% of Indian population speak English and thereby this Similarly, it has been found out that most of the Indian population are educated and therefore accessing any pertinent information from the above mentioned telehealth would not be very hectic for them. Moreover, the government encourages the initiation of Fixed Direct Investment within their sphere which makes it possible for any foreign investor to invest in India with ease as there are no very stringent measures to block new entrant to the market. Government policy The second element which is of primary importance is the environment. This implies the business performance and acceptability of a new firm in the region. It is important for TMA to determine if the foreign firm are accorded favorable environment to perform their business well. Social aspect basically implies how the firm is ready to integrate the Indian population to their platform. This has to go along way with sensitizing of the targeted group on the primacy of getting their services using their application and site as clearly demonstrated. On the same breathe, the Indian government has not imposed quota system, and thereby allowing the trading activities to be conducted with limited hurdles in place. It is also imperative to state that the country has food security. This means that its citizens are well taken care of in terms of food or rather there is no element of food shortage experienced in the country. Chances There is viable market in India considering the fact that it is among the growing nations in terms of economy. This therefore suggests that it is an economic hub where most of the investors are eyeing there so as to initiate their firm. Another notable factor that boosts this is the fact that the environment is friendly and allows FDI which makes it friendly for this particular group from foreign firm to initiate their project there. Related and supporting industries There is significant support from other related firm making the business to be very competitive and ideal due to the great support that is accorded. Nonetheless, there is some level of competitiveness which is being posed by the international organizations that are rendering the same services to India. This thereby makes a firm to make a critical move especially at that particular time it is making its choice in order to have an ideal strategy for it to compete in the market effectively without losing track of competition. Essentially, there is large market in India and therefore for TMA to invest there it would have a big deal due to the large population of the Indians. Firm, strategy and structure and Rivalry There is duly process for the ward of certification to operate the business in India. However, as it had been stated earlier that the government encourages FDI and thereby does not have a lot of paper work procedure. This allows this new entrant to the market taking very less hectic procedure for admissibility in to the business in the said country. According to NHIMAC one may access medical services at their places of conveniences. That has been made possible through the realization of telehealth. Since most of the people have not fully embraced tis platform, it would be the initiative of TMA to see to it that they enlighten most of its potential customer on the primacy of registering on the site and being a register member to make any form of request easy especially when it is done on the site. This is meant to make the patients feel affiliated to the company and can make any request at any time of the day. It is this kind of freedom that ought to be further emphasized so as to reach more members to join and thereby expand their marketability within the territorial influence of India. As such, the client is brought to realization that they need to be in contact with their medicinal value more than being with the medic as this platform and firm called telehealth offers that. Pant and Deepika, (2015) assert that patients feel at peace if they have less one on one contact with their doctors for treatment. There are some of the medication that only needs guidance through logging into the site and looking for the service that one requires and every detail of a client is kept confidential as the site which is well encrypted. In the past it has been noted that at times the information regarding particular patients usually leak to other parties who are not supposed to be partisan of the entire information. In order to curb this issue from recurring, telehealth has really solved a great deal of this problem thereby allowing a lot of things to take place without much worry and susceptibility on people confidential message or record. Virtually, the aforesaid firm has its own telenursing that takes care of the patients. Using this platform the welfare and the care of the patients is put into considerations as the patients get the requisite healthcare they require through the above mentioned site. Agarwal and Willem (2015) accentuate that multifaceted of activities can also be conducted through the Apps of TMA healthcare in India. It is important to define telenursing as the ability to offer or administer services to the patients through software application by giving out duly instructions that are of primary value to the patients. This devices they have fully been developed in such a manner to give alerts to patients and to determine the magnitude of their problem at a given point of their conditions. The nobility and primacy of TMA is that it allows caretaker to remain in one major point so that they can be easily found when need arises. Therefore, it is too aided by human personnel to solve some of the technical situation that requires one on one contact and direct interventions. Bibliography Acheampong, Faustina, and Vivian Vimarlund. 2016. 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