ll ahy single question 1s t8 all four questions before committing to an answer a

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ll ahy single question 1s t8 all four questions before committing to an answer and justification ligly, you should read through and Medical Accessory Device Corporation Medical Accessory Device Corporation (MAD) produces a variety of health care products ranging from intravenous (IV) fluid dispensing s all of their product control the flow of liquids and/or gasses through tubes. MAD has been in the medical field for number of years and has established manufacturing facilities, R & D labs, and a sales department all focused on the design, production and distribution of their medical products. While MAD remains both innovative and profitable, it has seen both its growth rate and its profit margins decline over the last two years as new competitors, both foreign and domestic, have entered its industry with similar products that have lowered product prices and squeezed industry margins. While the overall market ystems to artificial heart valves and catheters. At the s is pro prietary knowledge regarding the design and manufacturing of valves that h more baby boomers hitting their later years and needing more medical attention, this 8 appears to be driving both new companies and companies in related industries to enter the health care products market. Recently, though, it was discovered that MAD's knowledge in the design and manufacturing of technology might be valuable in a number of products outside the medical field. They have been experimenting with the use of the valves in emergency inflating devices used in aviation and marine applications (e.g., life vests, life rafts, evacuation slides), with other products that inflate (e.g. some camping equipment, tires, etc.) and with certain electronic and other products that require pressure release valves. Management at MAD is interested in diversifying the business a variety of areas outside of medical products. They such diversification and whether their current functional structure could handle additional lines. and pursuing sales in are unsure, however, of how best to approach Based on the information given, I think that it is likely that general competitive approaches ht he viable in the health care products industry over the next few years

Explanation / Answer

1. (a)

Finding and getting a technology approved by the medical authorities is expensive and tough. There will always be technological advancements in the field of medicine which might provide some range of options but given the ease of imitation of such products pricing would be crucial. For a product where differentiation is little, a focus on cost is a must.

2. (c)

Industries have different dynamics and operate differently. MAD should understand the needs of the other industries and make a product which is fine tuned for its needs.

3. (a)

Given MAD's techical prowess and innovativeness, they should leverage it while pursuing opportunities in other industries by learning and incorporating the needs of the new industry in their design and produstion.

4. (d)

A matrix structure would suit such an organization where an employee would have a functional manager for the technology scheduling etc. and a product manager who'll manage time on different products(catering to different industries).

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