Porter Five Force Analysis of HomeOsteo

Added on - 05 Jan 2021

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ContentsSECTION 1: INTRODUCTION..........................................................................................2Proposed Development..................................................................................................2SECTION 2: OPPORTUNITY FORMATION.....................................................................4Unique selling point (USP).............................................................................................5SECTION 3: OPPORTUNITY DEVELOPMENT...............................................................6Business Canvas Model.................................................................................................6Porter Five Force Analysis.............................................................................................7SWOT analysis...............................................................................................................9It is missing the following.............................................................................................10SECTION 4: CONCLUSION............................................................................................10
SECTION 1: INTRODUCTIONEntrepreneur is defined as an individual who intends to assume the risks andliabilities associated with setup of a venture with the sole motive of developing solutionsto the social or economic problem ascertained to be affecting the society. In thisrelation, after carrying out a research upon the population as well as market of Europe,it has been identified that a large quantum of people within the continent is sufferingfrom osteoporosis (Kurowska-Pysz, 2016). This is a systematic disease influenced bylow mass in bones and micro-architectural impairment of bone tissue whichconsequently leads to increased bone fragility and enhanced risk of fracture. Over 50years of age, every one in eight men and every one in three women are bound toexperience not less than one fragility fracture during their remaining life.This points out to the social problem that the population of Europe has beenfacing over years. In this regard, post the evaluation of consumer demographics, theentrepreneurial idea selected is to launch a new app which offers the option of bookingservices associated with the problem of osteopathy for home users. This mobileapplication will be launched under the name of organisation, namely, HomeOsteo. Theapp would be based on the business model of Uber eat and Deliveroo. This means thatthe organisation will render services close to the user. The purpose of launching thisapplication will be to create a high quality experience for those individuals who arestruck by osteoporosis at reasonable prices. This has been proposed by entrepreneur toensure that individuals belonging to every economic group have the access to receivemedical assistance. In today's modern era, a business idea which strives to fulfil thesocial (healthcare) needs of people possess a huge potential as well as scope forattaining stability and growth in market at a rapid pace.Provision of services related tohealthcare at convenience of people will render strategic and competitive edge to theapplication over rivals.Proposed DevelopmentBeing an application that caters to the medical needs of people suffering fromosteoporosis, this idea of expanding the operations of business by launching a newapplication and website in the name of company has vast scope for giving a boost to theexisting operations as well as stake of company (Sekliuckiene and Kisielius, 2015). This
project of launch of website and mobile app possess the potential to be marketed byway of effective channels and initiatives to create awareness about the uniqueness ofthis application. Also, the entrepreneur has the option to facilitate business growth andexpansion and increase the scale of this application by incorporating some new featureswithin it so that it can gain a wider and quick reach to a large quantum of population. Byincreasing the scale of operations through entry into digital world, this organisation hasa lucrative chance to retain large number of customers on a frequent basis by makingsure that the services provided by the practitioners booked through this application arefit to suit the medical needs of people having osteoporosis (Mohamed and et. al., 2012).Through this, the company will be able to gain popularity within marketplace throughword-of-mouth publicity when the people who are satisfied with the services provided bypractitioners booked through this app “HomeOsteo” and further want theiracquaintances, friends and family members to gain the same service experience asderived by them.By giving entire focus upon enhancing the medical assistance driven by peoplewho are suffering with issues related to joints as per their own convenience andupdating the features of this application on a regular interval, this entrepreneurialexpansion idea has a great opportunity to increase the revenues derived from the app.The money gained through this application will not wholly go in the basket of company.Here, 70% of the funds will go in hands of practitioners who visit the home users toprovide medical assistance and 30% funds derived out of it will be enjoyed byHomeOsteo company. The company aims to enhance the sales and position oforganisation within Europe at a fair quantum in a time period of next 1 year from theintroduction of the mobile application HomeOsteo and the website of organisation. Byincorporating services associated to a number of other medical conditions and issuesother than osteoporosis, this venture development stands a high chance to give astrong boost to the existing brand value as well as position of company and its serviceswithin market. It will be able to gain recognition within global marketplace by catering tothe medical needs and requirements of population of Europe as per their convenienceand accordance (Leonidou and et. al., 2018). Further, by devising a well-structuredmarketing strategy as well as strategic management plan, this organisation can easily
grab rapid growth as well as success by way of the services provided by practitionersthrough bookings on the application. It is being assumed by HomeOsteos that theplanning as well as the strategies devised by the management of this entity is capableof yielding the desirable outcomes within the stipulated time frame.SECTION 2: OPPORTUNITY FORMATIONThe entrepreneurial development idea associated with launch of a mobileapplication as well as website where the application will provide people havingosteoporosis or their acquaintances with the chance to do online bookings for themedical services of practitioners so that they can take the experience of these facilitiesat home. The idea of launching such an application has been proposed and decided bythis company after evaluating and analysing the key market trends as well as the trendsprevailing within consumers which helped them in gaining knowledge about varioustypes of needs of people (Kansiime and et. al., 2018). In this regard, a marketassessment was done by the company to gain knowledge of the needs of people havingosteoporosis that need to be accounted for at a rapid manner so as to gain rapidsuccess within marketplace. Such market analysis has been given as follows:-Political factorsThe population within Europe is largely struck by the diseases associated withbones and joints owing to which there are a large number of instances involvingfractures happening to people. In this regard, it has been noted that the government isnot taking any suitable steps to deal with this issues and to undertake measures whichaim at providing support and convenience to peoples struck with this medical issue(Khazaeli and et. al., 2018). Thus, the company took this issue into account andlaunched an app that aimed at satisfying the medical needs and requirements of peoplehaving joint issues. Further, the time within which the practitioners visit the homes ofsuch personnel, that is, the waiting time is going to be short so as to ensureconvenience to people.Social factorsWithin Europe, a large quantum of population is struck with issues associatedwith bones and joints such as osteoporosis. There is no active or coordinatedorganisation which is providing mobile services in relation to this. Taking this into
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