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Essay Available:
Pages:
2 pages/≈550 words
Sources:
1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 10.37
Topic:

Michael Porter's Five Models

Research Paper Instructions:

This article requires APA style, APA style needs to have a name page, an introduction page, and a reference page, so the article should have a total of 5 pages, namely the name page, the introduction page, the 2 page body and the 1 page reference page, the article Need to write according to the information provided by me, the system check rate cannot be higher than 10, the article has no opportunity to modify, so I hope the author can do it seriously. Please contact me if you have any questions. Thank you




 




 The Waterbury Hospital




Waterbury Hospital: Problem Statement




Waterbury Health has assigned a resource within the hospital to be an Emergency Medical Services Liaison. What they want to do and need to do is build customer relationships with the various ambulance services within this community to have Waterbury Hospital be “top of mind” when it comes to any ambulance transports that do not involve trauma, stroke or heart attacks, where the regulations clearly state that the ambulance must go to the geographically closer hospital. The ambulance drivers and EMTs have influence and Waterbury Health wants them thinking of them.




Waterbury Health has invested in significant process improvement in their Emergency Department to make it efficient (more efficient than their competition) as well.




For this project, you will analyze Waterbury Health’s competition and the ambulance service providers that bring patients to the Hospital. You will also want to study demographics within the community to see if there have been any changes that would affect the numbers of patients Waterbury receives. After studying the environment, you will develop a marketing plan so that Waterbury Health can maintain its level of ambulance calls and grow the number of discretionary ambulance volume.




Phase 1: Competitive Analysis




 




Write a 2-3- page assessment of the competition by answering the 6 questions below. Use Michael Porter’s 5 Forces Model as the guide to answering the questions. Please be sure to be clear and concise in your responses but to provide enough detail to demonstrate your knowledge. Make sure you carefully integrate the specific information needed for you to complete all aspects of Phase I of your project. Use references and citations throughout.  Please remember to enter the name of your selected client at the top of your research paper.  




 




Please consider and address the following questions when developing your Competitive Analysis: 





  1. 1. Who are the two major competitors for your client? Why did you select them?  

  2. 2. How competitive is this industry? Is the competition based on price or nonprice competition?  

  3. 3. Who are the suppliers in the industry and what type of power do they have?  

  4. 4. To whom does your client sell their product or service to? What bargaining power do these customers have?  

  5. 5. What is the likelihood that customers will switch to a different product or service? Why?  

  6. 6. What is the probability that new competition can emerge in the market and why?  



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Research Paper Sample Content Preview:

Waterbury Hospital
Name
Institution
Course
Instructor
Introduction
According to E. Dobbs (2014), Michael Porter’s five models is a tool that is used by businesses to analyze its competitiveness in the industry where it operates. The five forces model is based on the argument that there are five forces that determine the intensity of competition in the market (E. Dobbs, 2014). It is worth noting that strategic analysts in the organization normally apply the Porter five-model to find out whether new products or services that they intend to the market would be profitable (Rajasekar & Al Raee, 2013). These five forces include supplier power, customer power, and nature of competition, threat of substitution, and threat of new entry (Rajasekar & Al Raee, 2013). Therefore, the paper would be using Waterbury Hospital that transport to start ambulance transportation service to the residents to explain the concepts of Michael Porter’s Five Force Model. The paper will in nutshell address these concepts by answering the below questions.
Two Major Competitors of Waterbury Hospital
Waterbury Hospital is operating in the health care industry where there is stiff competition (D&B Hoovers, 2019). However, two main hospitals are direct competitors of Waterbury Hospital regarding the provision of health care, and ambulance transport services. These two main competitors include Griffin Health Services Corporation, and Hartford Healthcare Corporation (Greater Waterbury Health Network, 2016). The reason why those two hospitals have been chosen as the major competitors of this hospital is that they provide the same services, and they operate in the same geographical location; which is referred to as Connecticut (D&B Hoovers, 2019).
Level of Competition in the Industry, and Nature of Competition
In general, there is stiff competition in the hospital industry, and the competition is mostly based on the cost of providing services. There are numerous hospitals in the healthcare industry trying to outdo each in providing quality services, and at an affordable price (Olson, Soares& Kanade, 2011). This is because the government and insurance companies are trying to persuade the patients to seek medical services in hospitals that are less costly.
Suppliers in the Healthcare Industry where Waterbury Hospital Operate
The health care sector is made up of a huge network of suppliers for both products and services (Greater Waterbury Health Network, 2016). Some of the noticeable suppliers to the Waterbury Hospital include pharmaceutical and biotechnological companies, national health, ambulance manu...
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