International Business Strategy and Markets Essay

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1. Analysis of the current situation of Creo Company OverviewCreo Medical operates in the highly competitive medical devices industry. Here the company primarily utilized electrosurgical products that are provide a distinct competitive advantage for the company. Here, the company leverages electrosurgical products to help save time and costs while also improving patient outcomes. Here, the company has patented its CROMA Advanced Energy Platform. This platform is used to deliver radiofrequency energy through a single access point with the body. This innovation allows medical professionals to delivery a much more precise surgical option for patients. This energy allows patients to cut, coagulate and ablate for a range of electrosurgical devices more precisely. This is unique within the industry as the technology is patented and is proprietary. In addition, the team is comprised heavily of innovative individuals who can properly leverage future medical advances to further innovate the overall product portfolio.The company is currently undergoing rapid growth within its industry. This growth is due in part to numerous tailwinds which are impacting the industry overall. For one, countries continue to spend a larger portion of their overall GDP on medical and healthcare costs. In the United States for example, nearly 18% of the country’s GDP is spent on healthcare expenditures. These expenditures are expected to rise to 20% by the year 2030. The higher expenditures themselves are a result of an aging population worldwide and higher input costs. Again, within the United States, inflation has increased by nearly 7%. This rise in costs will inevitably be transferred to consumers in through higher product costs. In these instances, the Creo company can benefit by transferring all these increased costs to consumers through its product offerings.The company also has a very scalable business model which can be deployed through international markets. Here, many developed markets including Europe, Japan, Australia, and Korea can each benefit from the Creo company product portfolio. Not only does each region have an aging population, but each region is heavily engaged within the healthcare sector to improve overall healthcare outcomes. This provides a large and growth target market for each product with the Creo company portfolio. As the industry for the companies’ electrosurgical products is young, there is a very large growth trajectory for the company’s products.1.1 The company's current international market positionThe current international market position of the company is relatively small. In 2020, the company did acquire an international competitor to boost its overall product offerings within the Asian market. However, as a very young company founded in 2003, the firm has a very small market share position worldwide.

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The industry overall however is very fragmented with no competitor commanding a disproportionate market share as compared to others.1.2 Analysis of the company's internal environment (SWOT)Strengths· Highly innovative culture· Highly motivated and well-trained workforce· Large industry potential· Products that are “sticky” with few substitutes in the marketplace· Entrepreneurial and experienced leadership teamWeaknesses· Small company with less access to capital in the marketplace· Unproven product portfolio for certain innovations in the marketplace· Inability…

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…States are much more accommodative in their global expansion scope and allow capital to freely flow across borders.1.5 Analysis of target customersThe target customers for the products are healthcare organizations and professions who require precision tools and devices. This target, as noted above, is very large and applies to many medical organizations around the world. These organizations rely heavily on precision parts to improve healthcare outcomes for patients. In addition, governments are looking to lower healthcare costs overall. Both circumstances bode well for the company and its products. In addition, the target market should ideally have a very strong financial position, with an ability to purchase innovative products on a continual basis. Finally, the target customers must have a wiliness to adopt new technologies and integrate them into their overall healthcare systems and processes.1.6 Product Situation AnalysisAs it relates to the product situational analysis, the company does not currently have a diversified suite of products. It relies heavily on a few select products that are protected by patents. However, these patents could eventually expire, thereby creating an opportunity for competitors to enter the market. In addition, from a company perspective, its competitive advantage is heavily based on these patents and its ability to continually innovate it product portfolio. As it relates to its ability to distribute its products, the company will need to look to raise both debt and equity capital to quickly expand overseas where competition may be limited. In addition, with a strong balance sheet and cash flow position, the company….....

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