Business Essay Sample on Medical Zone Company

Published: 2022-04-07 05:37:37
Business Essay Sample on Medical Zone Company
Type of paper:  Case study
Categories: Business strategy
Pages: 4
Wordcount: 883 words
8 min read
143 views

Executive Summary

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Medical Zone, medical accessories in Saudi sells to the Saudi market, the goods that the business imports from the United Kingdom, United States of America, Spain and Hong Kong. The imports are shipped into the country using the Aramex Company and payment made via cash on delivery. Our vision is to be the leading medical tools retailers in the country which provides a top quality product.

Introduction

The Medical Zone is a new business entity based in Saudi which will be selling various medical appliances. The items in the initial budget of Medical Zone include life threads, even, stethoscopes, medical stationery and educational materials. The business will be receiving supplies from different countries such as the United Kingdom, United States of America, Spain, and Hong Kong. There will be some shipping charges on the imports which will have to reflect on the final selling price.

Medical Zone being a business based in Saudi, its primary market will be the country residents in its initial stages. But because of its website contents, there is a future possibility of investing in the international market. Because Medical Zone is new to the market, there will be the need for extensive research on the market trends, competition levels and the standard prices of the items from the already existing businesses in the market (Sadek, M.A.Z. and Jahan 2017).

For every business organization, there have to be some crucial driving goals before its formation. The primary goal of the Medical Zone is to be able to provide the most updated and quality medical tools to the Saudi market at the best prices (Hair and Lukas 2014).

Decision Criteria

Important decisions will be made regarding recruitments, purchases with sufficient budget allocations and market trends. For the Medical Zone, all the decisions come from the top management after analytical consultations from the employees from various departments. Each department will also have a leader to help in supervising and implementing the organization's policies (Yin 2017).

There are some assumptions that the owner made when deciding to start the business. For example, the decision to import materials from different countries means that slightly higher purchasing costs will be incurred. However, the owner assumed that the revenues earned from the sales would be sufficient to make profits. The second assumption was that there would be a reliable market for the products offered by the Medical Zone.

Data Analysis

The first excel document gives details of the budget used to get the products from four different countries, that is, United Kingdom, USA, Spain, and China. The items from the UK include emergency stationery, medical pockets such as clipboard, pocket sets and educational materials, badge blooms and other accessories which include ippoippo and prints. According to the initial order, a substantial profit was realized from every item from the UK after considering the actual price and shipping charges. Items from the USA include life threads, even and jannuu. One important aspect in budgeting for the items from the USA is the near 50% difference between the prices in the market and the actual prices in Saudi.

The methods of shipment used were collected on delivery and the Aramex shipment company. The Aramex Company was chosen for delivery because of its availability and relatively cheap service charges which enabled the Medical Zone to enjoy profits after the shipment bills are settled. It also allows for the cash on delivery payment mode (Alberti, Al-Htaybat and Hutaibat 2017).

Alternative methods

Apart from the cash on delivery payment mode, a bank transfer can be a more reliable method because of its secure nature. Even though cash on delivery is one of the most reliable payment modes, it is usually prone to security risks such as thuggery (Gafeeva, Hoelzl and Roschk 2017).

Justification

Because Medical Zone is a business which will be relying on goods imported from various countries, it will certainly do well in the market where the quality of goods and services sold is a great advantage in competition. The business has also started on such a large scale that will put it on the country's map straight away. The ability to get supplies from different countries also ensures that the shipping risks are spread in a way that any accident occurred does not lead to total loss of capital.

Conclusion

It is evident that Medical Zone as a new business organization has started positively and is making profits from the sales of the medical appliances that it gets from the UK, USA, Spain and Hong Kong. Shipment of these imports by the Aramex also allows the business to make good profits.

References

Alberti-Alhtaybat, L.V., Al-Htaybat, K. and Hutaibat, K., 2017. A knowledge management and sharing business model for dealing with disruption: The case of Aramex. Journal of Business Research.

Gafeeva, R., Hoelzl, E. and Roschk, H., 2017. What else can your payment card do? Multifunctionality of payment modes can reduce payment transparency. Marketing Letters, pp.1-12.

Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-Hill Education Australia.

Sadek, M.A.Z. and Jahan, S.M., 2017. Pharmaceutical Plastic Packaging Market in Bangladesh: A Study on Demand-Supply Scenario and Strategic Imperatives for Local Enterprises. International Journal of Business and Management, 12(3), p.232.

Yin, R.K., 2017. Case study research and applications: Design and methods. Sage publications.

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