Business Plan to Establish for a New Venture in the Field of Medical
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Establishing a business is inevitably not a piece of cake, which can be done with immense tranquility. However, it required a strong commitment, ad hoc strategy and brutal steps. The occurrence of financial strong and week peoples in a country is a common thing but the inclinations towards the study is rarely though. Albeit, a number of peoples have the propensity to learn and study but due to the scarcity of enough funds, they thinks that we are unable to accomplish our task. It is observed that the peoples, who received all the adequate facilities like enough, finance to compensate the studies and congenial environment are not fond of studies, and factually speaking not all the peoples have the same sort of merciful destiny. The main mantra of this study is the same, to establish a business pertains to medical in Europe. In this study, we will cover the strategies and management pertains to operations, marketing and finance, let’s start the same to educate our readers in an impeccable manner (Harroch. R.D, 1998).
We are planning to establish a business to help those people who are suffering from INFERTILITY AND CUPPLE. I have also studied GYNEACOLOGY and want to serve the Women who are suffering from this fatal problem. I want to work with the Nigerian Govt. As you all aware with the fact that, Nigeria is among the development countries and due to unavailability of resources and adequate funds, the idea of establishing a business of this caliber is quite difficult.
The company long term sketch is a part of the due to assiduousness package. However, it should be noted, that the company first operational year will burn cash until it started on recognizing the revenue. High investments are needed initially to handle an expense initially in this phase of business.
The fruits of our business strategy & commitment of team is illustrated below in the form of chart. It highlights the results of our business strategy over the first 3 years. I am certain that the government of Nigeria will contemplates on this issue and will help me to in this noble cause.
MAIN PROSPECTIVE OF OUR BUSINESS:
For more than three decades, RESOLVE: the National Infertility Association and the National
Women’s Law Center has worked to guard a woman’s right to make reproductive options, together with the right to use reproductive technologies that facilitate her to have children. Our organizations are now associating to shield and enlarge right of entry to infertility treatment, as well as to recognize and put off medical practices that donate to barrenness. As you may know, some health care providers, both individuals and institutions1, have a religiously-based opposition to provided that convinced services, recommendations, or even in sequence. These contributors may item to some or all forms of give a hand reproduction, even those that help extravagance the ailment of childlessness within a marriage. Their religiously based objections are all the more enthusiastic around issues of surrogacy, egg and sperm contribution and gay and lesbian parenting. An objection to assisted reproduction may mean that an institution or character will refuse to make a recommendation for treatment, or take a rain check to inform patients of the option to safeguard the sperms or eggs before having fertility-impairing medical measures, such as emission. In a number of cases, religiously-based unfriendliness has disallowed the passageway of state laws that would have obligatory insurance treatment for what are often prohibitively luxurious infertility treatments. The current economic environment played an outrageous role to put hundreds of thousands of people below the poverty, which not plummeted the overall health conditions of the countries but also made the life aggravated especially for the women. By considering these problems, I am intending to set up my own clinic as a Chinese Medicine Doctor treating women suffering from the problem of fertility. The cure of this peril is quite complex and expensive but we are planning to provide these services in a lower rate. In the next section we will define our overall business strategy including the services and technology we will use to combat with such problems comprehensively.
OPERATION BUSINESS STRATEGY:
Our business strategy is to provide low cost, efficient and safer medical treatment service to low income people, although the treatment is available for every individual but we have expertise in the field of INFERTILITY AND CUPPLE & Gynecology. Our services will call attention to safety and affordability as our first priority. We will strive hard to do our job in a professional manner and also on time. We will serve our valuable clientele in a friendly, courteous and make them feel special in our own way. Our prime objectives to succeed rigorously are:
We offer quality services with safety as our first priority.
We will provide the services on time, control costs and managed our marketing budget. We try to retain the lure of our services in the market by keeping the standardized service for our valuable customers at economical rates.
We obtain approvals required from the government.
We achieve our desired market share at even amidst expected competition. We market aggressively through advertisement and promotional campaigns.
We hire experienced and refine professionals to be a part of our team.
We are planning to expand our operations in the second year. We plan to increase the professional staff and other medical apparatus in the first year operations. We will schedule our business in a manner that the people especially the poor people get maximum advantage from our ad hoc medical treatment services and to gain a competitive advantage by working with the Nigerian Government (Hazelgren. B. & Covello, 1994). Our business strategy includes following areas to be focused keenly:
Our service approach includes “no frills” and our prime focus is on safety and courteous handling of our patients. We will provide low cost; discount to the patients pertains to Dublin. We precisely focus on the level of service the customer demanded nowadays.
All equipments and systems we utilize have been diligently and carefully evaluated. We are using the latest equipments and apparatus to operate in a more proficient manner. As compare to this our rates are cheap and more reliable with latest technology. It will give a safe and comfortable cure. Technology also mandates us to operate the women suffering from fragility in a more plausible manner. With the passage of time we will increase our human resources.
2. HUMAN RESOURCE STRATEGY:
Our company operational areas are classified in five areas:
Above mentioned professionals and availability of drugs will be enhanced with the passage of time.
To establish a business, flow of funds and resources are quite common, which is an essential ingredient in the formation of a business, mention below description depicting the same.
3. FINANCIAL STRATEGY:
It is learned that, a large population of the developing and under developing countries are lived below the poverty line, who lives their life from hand to mouth, so how they become able to finance the expenditure of their medical treatment and expensive medicines because the prices of such things are touching the moon. The rest worse is been done by the current liquidity crunch which urged an enormous amount of peoples to deprive the people from their happiness and put hundred of thousands of peoples to live below the poverty line.
To overwhelm the said problem, we are requesting to the government of Nigeria to assist us impeccably and take a brave initiative to provide financial aid to us to make us able to achieve our desired goal. The code of practice of both Nigeria and UK includes the same things, manifest that each member of the organization must be honest, hardworking, reliable, devoted and due diligent with his duties and work. He should be eager to cure the people from fatal ailments. The government can have an eye over our benchmark revenue graph to get an idea that what we are planning to do in near future. Obviously in the first year of the margin of profit must be low but with the passage of time it will mount substaintially.
Further more; we have to take out all operational costs, which is fixed overhead and medical apparatus leases. Our profit will improve with low percent sales in the first year to reticent percent of sales in proceeding years. It is expected that profit will be at peak in next three years and there after. Cash flows reflect positive signs from the initial combination of investment. As long as the sales targets are high and achieved, it produces cash constantly. In case of seasonal fluctuations borrowing may only be needed for expansion.