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Business in the International Market

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Hello Elizabeth;

Could you provide your feedback to these question below?

1. Is it possible the localization of a product or business strategy may be over looked by having such a broad view? Are there other risks?

2. The international market may not have matured to a level of maximum potential for the organization, there are infrastructure concerns, as well as social and economic considerations that much be done. How would you make preparations for a maturing market that is unable to facilitate your market demands for supplies, labor, and even transportation? The international market plays a key role in the mobility of funds and resources. What are the key areas to consider when this factor is realized, and how do you make it work for you?

3. Regional managers and country managers are very good support resources for getting ideas through the management chain including identifying what is needed from a CEO. They are generally much attuned to the needs of country or region and often effectively communicate the need to the next level of management.

You did mention the need for effective communication. One of the things I strongly suggest is the use of more pictures and less words whenever possible. Many people outside of the US are not necessarily fully fluent in the English language and the wrong words can doom a great idea. However, if the ideas lend itself to a graphic representation with minimal words the message can be understood no matter what language you speak or read.

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1. Is it possible the localization of a product or business strategy may be over looked by having a broad view? Are there other risks?

A broad view can cause a person to overlook the minute details, but it can also help a person to see the entire picture. When any kind of business strategy is put in place, a person is able to put specific steps into action by seeing the perspectives from both sides. However, this can pose some risks that can go with it. Management may end up focusing on the global and not think locally while trying to get to a target market overseas. By this occurring, they are less likely to think about the outcomes of their actions by not having enough preparation for various laws and regulations that are set forth by the United States government. Eventually, they get so far behind that they end up losing money and customers in the midst of their situation. The other side of the issue is going to another part of the globe, and failing to come prepared when only ...

Solution Summary

This solution discussed product and buisness strategy, international market and regional and country managers.

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Healthcare in Taiwan

Mert Atakan
Joey Brito
Damien Gonsavlez
Patricia Jimenez
Jeff Pucci

Our company will be a small niche medical company located in Taiwan. The company will employ about 60 people. These employees will consist of operations personnel and company staff such as Medical Doctors, Occupational Medical Director, Registered Nurses, Employee Health Safety staff, and Benefits Advisor. The building itself will have three floors with the main floor being for prescription drug storage, customer service, and offices, while bottom floor contains more offices is primarily for rehabilitation for the elderly and the upper floor will be used for laboratory research and development and diagnostics
The products that the company will hold are products that are affiliated with the ongoing health issues in Taiwan such as, heart disease, cancer, and rehabilitation. The product that will be held for heart disease will consist of Accupril, Inspra, and Norvasc. These medicines are the most prescribed brand name high blood pressure medicines worldwide. They help to treat high blood pressure, heart failure, and easy blood flow through arteries. Cancer products will consist of Aromasin, Camptosar, and Ellence. These medicines are used for the treatment of breast cancer, colon cancer, and the rid of any tumor cells in the body.
With the continuing health concerns in Taiwan the National Health Insurance program accounts for more than 60 percent of all health costs. Taiwan is also very advanced in technology and with that technology used for research and development our company seeks to make substantial profits.
The company will like to expand internationally for various reasons. Taiwan's economy is ranked among the 20 largest in the US. And at the same time, Taiwan also has an increasingly growing population which is spending a big amount of their income on healthcare. There is strong demand in Taiwan for numerous medial products and services. Some of which include those related to orthopedics, rehabilitation, cardiology, and diagnosis particularly pertaining to cancer. Additionally, due to increased male and female life expectancy in Taiwan, the demand for medial products for senior citizens continues to grow. In part, the United States has exported approximately USD 161 million in medial products to Taiwan in 2003 1. For this reason, a distributor in Taiwan can assist US exporters with the process.
Taiwan's market offers ample opportunities for US firms to profit from a strong and growing demand for advanced medical supplies. They have an aging population together combined with other factors such as high population density. In 2004, the average per capita expenditure on healthcare was US$847 of a total per capita GDP of $13,529 2.
Our company will profit from the sales of medial products for the elderly, more specifically for heart disease and cancer patients, two of the leading causes of death in Taiwan. In Taiwan, the overall medical device market is projected to grow at a rate of 3-5 percent per year while implantable devices grow at an annual rate of 6-10 percent2.
The Taiwan market for implantable devices has been growing rapidly as a result of their growing elderly population and patients increased awareness of new implant technologies. One of our company's major forces for improving the healthcare of Taiwan's population are the new innovations in medial devices. Cardiovascular and hear diseases are the two leading causes of death in Taiwan that have highly contributed for the demand of heart implants. The Taiwan market's demand for implantable medical devices was forecasted to reach approximately US$123.4 million in 2005. The market demand grew 29.5 percent from its previous years2. For years the US supplies 90% of Taiwan's vascular grafts, 80% of ACID and artificial heart valves and 70% of intraocular lenses2. Taiwan's economy continues to grow steadily and our company is looking forward to expanding internationally to Taiwan.
Taiwan is the seventh largest trading partner of the US with over US$50 billion in two-way trade . The region is an excellent market for many types of products and services and our company will take advantage of this opportunity. In conclusion, we will provide medical products that will improve the healthcare technologies sector.

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