** Please see the attached file for the complete problem description **
Analyze the given case:
Given STM's situation, what recommendations would you make for STM to exploit its current advantage? What do you recommend for Jerry Budinoff personally?
Analyze only situation of industry when this case was issued, don't mention current situation in industry.
about 600 words
STM's success so far had been a result of developing good software and supporting it. The company was far away from people, marketing, distribution, etc. Due to the boom in the software industry, there was huge demand in the industry for application software; hence the company grew by just providing software, without any long-term plan. However, to take advantage of market conditions, the company needs to develop a long-term plan that would provide a clear vision to the company as to how it would grow in the next 5-6 years. There are many areas where STM can do better than it is currently doing. Following are some recommendations for the company:
1. Offer standardized products: STM does not lack the technical expertise; in fact the company offers better systems than many other players. By servicing the healthcare industry for a long period of time STM had build a large repository of interrelated family of products. Some of these products, like the Patient Database and the In-Patient Billing and Administrative system can be reconfigured to meet demands of other industries. The company can provide a standardized solution for keeping record, billing, administration, etc. This would save cost and time required by the company to ...
This solution includes a detailed analysis of the given case.