COMR2004 Industry Placement
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Industry Placement (COMR2004)
Added on 2020-04-21
COMR2004 Industry Placement
Industry Placement (COMR2004)
Added on 2020-04-21
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Running head: INDUSTRY PLACEMENT1Industry PlacementNameInstitutionDate
INDUSTRY PLACEMENT2The home care sector is a commercial industry that has since been growing over the years. With people spending less time at home, they need care services for their family members who need extra care. The home care service sector provides assistance for people with disability and those who are old. It ensures that this populace has better living standards and gives support to family members who take care of them. New product packages in the industry provide help for even those who prefer independent living conditions. As such, this industry placement paper will focus on Australian Unity which offers home care services. Australian Unity is a home care provider that operates in approximately eighteen communities all around Australia. The home care provider concentrates on providing care to people in old age, those with disability and aboriginal home care services. It also focuses on providing insurance scheme for people with disability. The home care service provides solutions to better-living conditions. For the old people, the Australian Unity offers necessities and assistance. It also extends its care provision to young people who are recovering from an operation. Additionally, Australian Unity is the largest provider of specialized and culturally appropriate services for Aboriginal people in Australia. It provides services that are flexible for the client ("Home Services | Australian Unity", 2017). Health care clients require high quality services at a 24/7 hour system; this kind of flexibility is required to enhance growth.Apart from providing home care services, Australian Unity has diversified its portfolio into achieving financial sustainability. Its primary focus is providing medical and retirement insurance services to a diverse target market("financial-advice", 2017). Besides, the organizationhas invested in various in real estate to provide financial capital that it channels towards delivering better home care services. Effective capital management enhances financial stability to the health care industry in the nation. Following an analysis of Australian Unity, the company
INDUSTRY PLACEMENT3has the potential for growth as the industry gets assistance from the government. Particularly for Australian Unity, the company has the opportunities to diversify its portfolio to reduce business risks and increase its profitability ("Home Services | Australian Unity", 2017).Australian Unity operates in an industry that has high market entry barrier. The home care service sector does not entirely provide financial sustainability. Also, most of the clients prefer a home package. It is for this reason that Australian Unity draws a strength over its competitors. The sector has market entry barriers. Besides, Australian Unity enjoys government funding. The home sector is part of the medical insurance and retirement programs provided by the federal administration. Australian Unity has gained government backing over the years as it offered quality home care services. Alternatively, Australian Unity has opportunities to diversify its products to suit its clients. The industry shows potential in growth and people’s income levels are gradually increasing ("Australian Unity - SWOT analysis. Strength, Weaknesses, Opportunities, Threats for over 40,000+ companies and industries", 2017). Conversely, due to the expansion of its products, Australian Unity has acquired some weaknesses. Its brand portfolio is diversified in a manner that does not minimize industrial risks. Besides, as technology advances, the company has to adopt various technology systems to increase its efficiencies. It high dependence on government funding provides a high business riskin case such funding is delayed or regulated. On the other hand, Australian Unity has to deal withbusiness threats that arise from its external environment and technology issues. Though highly praised for its employee efficiency, Australian Unity faces a significant threat from employee turnover. The company has replaced its staff regularly thus incurring costs in recruiting and training new employees. Besides, on the customer-base front, it needs to acquire a stable and broad customer base to stabilize its profits and ensure financial sustainability (McMurray, 2017).
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