Assignment on Placement in Industry
Added on - 21 Apr 2020
Running head: INDUSTRY PLACEMENT1Industry PlacementNameInstitutionDate
INDUSTRY PLACEMENT2The home care sector is a commercial industry that has since been growing over theyears. With people spending less time at home, they need care services for their family memberswho need extra care. The home care service sector provides assistance for people with disabilityand those who are old. It ensures that this populace has better living standards and gives supportto family members who take care of them. New product packages in the industry provide helpfor even those who prefer independent living conditions. As such, this industry placement paperwill focus on Australian Unity which offers home care services.Australian Unity is a home care provider that operates in approximately eighteencommunities all around Australia. The home care provider concentrates on providing care topeople in old age, those with disability and aboriginal home care services. It also focuses onproviding insurance scheme for people with disability. The home care service provides solutionsto better-living conditions. For the old people, the Australian Unity offers necessities andassistance. It also extends its care provision to young people who are recovering from anoperation. Additionally, Australian Unity is the largest provider of specialized and culturallyappropriate services for Aboriginal people in Australia. It provides services that are flexible forthe client ("Home Services | Australian Unity", 2017). Health care clients require high qualityservices 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 portfoliointo achieving financial sustainability. Its primary focus is providing medical and retirementinsurance 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 towardsdelivering better home care services. Effective capital management enhances financial stabilityto 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 forAustralian Unity, the company has the opportunities to diversify its portfolio to reduce businessrisks and increase its profitability ("Home Services | Australian Unity", 2017).Australian Unity operates in an industry that has high market entry barrier. The homecare service sector does not entirely provide financial sustainability. Also, most of the clientsprefer a home package. It is for this reason that Australian Unity draws a strength over itscompetitors. The sector has market entry barriers. Besides, Australian Unity enjoys governmentfunding. The home sector is part of the medical insurance and retirement programs provided bythe federal administration. Australian Unity has gained government backing over the years as itoffered quality home care services. Alternatively, Australian Unity has opportunities to diversifyits products to suit its clients. The industry shows potential in growth and people’s income levelsare 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 someweaknesses. 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 toincrease 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 highlypraised for its employee efficiency, Australian Unity faces a significant threat from employeeturnover. The company has replaced its staff regularly thus incurring costs in recruiting andtraining new employees. Besides, on the customer-base front, it needs to acquire a stable andbroad customer base to stabilize its profits and ensure financial sustainability (McMurray, 2017).