If I were to transition a medical manufacturing company that focused on medical equipment for treatment of medical refractory epilepsy and treatment resistant depression such as Cyberonics to China what key economic indicators would either refute or support my argument for company expansion. I understand that we as a company would need to determine if there is a need for the products in the company and to date there is a need as "A recent epidemic survey done by the Ministry of Health shows that China has about nine million epileptics, 5-6 million of whom being active epilepsy sufferers. Every year, 400,000 new epilepsy cases emerge in China. The survey also shows that two-thirds of the epileptics in China's rural areas have not received sufficient medical treatment." http://www.chinanews.cn/news/2005/2006-06-26/24390.html So from what I have read on the country there is the need/desire for the product and market. But what key economic indicators should be researched? Possibly current sales of similar products that are selling in the country but am unsure if such products exist within this market and unsure what other indicators would be needed. Also do you see any economic, social, legal, political, technological or cultural factors that might have an impact on business operations as well as any product changes that might be required by cultural factors. What I see is that they have high values on family, respect and cultural values. This can either help or hurt the transition or expansion. As they value family members, their health system from what I have read however is inadequate, lacks modern equipment and is somewhat nonexistent in areas affected by extreme poverty. This can either increase the need for the product or hinder its ability to progress/prosper throughout the nation. Am looking for an overview on the Chinese market and what key economic indicators would either refute or support my argument for my company expansion.
Thus various factors including following will be studied in the matrix form as above:
Economic Factor: One has monitor the economic trends like GDP trends, Interest rates, Money supply, Inflation rates, Unemployment levels, Disposable income.
? Technological Forces: Impact of following factors:
Ø Efficiency of infrastructure, including roads, ports airports, rolling stock, hospitals, education, healthcare, communication, etc.
Ø industrial productivity
? Political Legal regulations: One should also be aware of foreign trade regulations, attitude towards foreign companies as Pfizer wants to aspire to be a multinational company. It has to consider following factors:
* Political climate - amount of government activity
* Political stability and risk
* Government debt
* Budget deficit or surplus
* Corporate and personal tax laws
* Other economic laws
? Societal Trends:
Demographic factors such as:
o population size and distribution
o age distribution
o education levels
o income levels
o ethnic origins
o religious affiliations
* Attitudes towards:
o materialism, capitalism, free enterprise
o individualism, role of family, role of government, collectivism
o role of church and religion
Overview of Business environment of China
China is becoming one of the most prestigious countries of the world. Industry is largely based on state and joint ownership, noticeable by growing technological advancements and productivity. Major industrial centers are located ...
Your tutorial gives you economic trends, social factors, political, legal and tecnological factors (in bullet format) to consider. Five references.