Strategic Plan, Part 3: Strategic Evaluation

Introduction

Business
strategies have the potential to affect business in any organization. However,
there are several strategic steps that can help in making a business
successful. This paper aims at evaluating the potential business-level strategy
of Abiomed.  Finally, it recommends a
strategy or a combination of several strategies that Abiomed should implement
to include a rationale for the recommendation.

Evaluation of the Abiomed’s Potential Business Level
Strategy

Abiomed’s
competitor  business level strategy is
based several varying factors within the organization. Abiomed’s business
strategy can be said that the organization aims at offering high-quality
medical implant devices at an affordable price. Abiomed focuses on product
differentiation in functionality and design. Its product are of high
performance and qualit. This makes the company be the most preferred for
cardiac service equipment. Abiomed also develops cardiac equipment that is
unique and superior to the other competitors’ products. Compared to competing
companies, Abiomed shows a lot of innovation which makes it possible to produce
unique heart pump gadgets such as the Impella heart pump. There is no other
company that manufactures and sells Impella heart pump. Ambiomed products are
branded with the company’s name thus making it hard for them to be copied or
duplicated in whole or in part. Its brand is well known by cardiologists who have
used the devices for many years. New cardiologists also prefer Abiomed devices.

Assess Potential Corporate-Level Strategies for Abiomed

Abiomed
should adopt the top planning pyramid which is the main purpose of the business
(Campbell, Goold & Alexander, 2014). Abiomed’s corporate level strategy is
recovering hearts and saving lives.
Abiomed started out as attempting to help individuals with a heart
problem to acquire gadgets that would help their heart. The first Abiomeds
gadget was AbioCor artificial heart which did well in the market. It was
welcomed by many cardiologists. The organization was interested in coming up
with better products and eliminate the competitors which were not doing very
well in the market. Over the years, Abiomed has been coming up with different
and improved devices due to changes in technology. Besides, Abiomed may also
start manufacturing medical devises such as those related to the treatment of
Chronic Kidney diseases, diabetes, and cancer. Today millions of people are suffering
from these chronic diseases. As such, Abiomed is likely to make more sales and
profit by manufacturing medical tech devices for other diseases.

Assess Potential Global Strategies for Abiomed

An
organization should aim at covering other parts of the world where its products
are not available (Lasserre, 2017). Abiomed Inc. potential global strategies
are that impella is a one size product that fits all people. As such, this
allows the Abiomed Inc. to launch its products in most parts of the world. Abiomed
top target markets include Japan, Germany and the U.S. On the other hand,
Japan, Germany, and the U.S., are the most influential markets targeted by
other Medtech companies making thus making Abiomed to position Impella as a
standard of care (Nishida, 2017).

Abiomed
should consider opening stores in Africa since not many companies have entered
this market. This move will make the company be the first of its type to offer
Impella products. However, challenges may arise due to limited facilities and skills
that can see the product sell as most of the people seeking such services opt
to go to India or China.  Abiomed should
focus on its global strategy to manufacture products at low cost and which will
increase their profit margins.

Recommend a Strategy

Abiomed Inc. can use several
strategies for its strategic plan. Broad differentiation is the best strategy
that can help the company to remain competitive among other companies producing
similar products (Abratt & Mingione, 2017). Markets in developing countries
such as those of Africa and the Middle East are not well penetrated, as such,
Abiomed should consider penetrating these markets since other companies that
not been able to penetrate. However, before penetrating these markets, Abiome
Inc. should first do some research to see how well their products are to sell
in these markets. Factor such as availability