Five Forces Analysis for Medical Tourism Businesses Helps to Assess Attractiveness and Competitive Advantage
A 4-hour workshop available to add to any event or conference as a pre-or post conference workshop
The Five Forces Analysis, by Michael E. Porter of Harvard University is a model which measures competitive analysis on five factors. A medical tourism business can use this model to develop strategies to enhance the attractiveness in their specialty and at their destination. Moreover, they can use this analysis to assess opportunities and risks of expanding to other destinations and source markets. That’s what Maria Todd covers in this thought provoking workshop designed to propel new medical tourism businesses towards successful launch and competitive advantage of their offers.
The model is based on the idea that there are five external forces which influence the attractiveness of every medical tourism business. These reflect the companies at the center of competitive rivalry, new provider or facilitator entrants, the negotiating tactics of customers and suppliers, and the risk of new destinations and suppliers and replacement products. By analyzing all the factors, it is possible for the medical tourism business to reach a deeper understanding of the structural features of their specific industry.
Maria explains to the audience how the undertaking of Five Forces Analysis includes the use of a checklist designed to evaluate different interest groups. She shares the checklist with the workshop participants and facilitates hands-on learning as workshop participants work through the decision-making process in five forces analysis. Participants will work hands-on during the workshop and then take home the templates used in class to meet with their team, evaluate and discuss the market’s external factors (competitive rivalry, threats by new company entrants and of replacement products, and bargaining power of suppliers and of customers) in detail such as with expertise, cost savings, customer number, order volume, supplier number and size, power exchange, cost amendments, etc. She will help participants to recognize both risks and opportunities relating to the development of their medical tourism product and learn to assess the company’s future profitability in the current industry.
Workshop participants learn:
- What are the Five Forces and how to examine them in the context of a medical tourism startup
- How to use tools and checklists supplied in class to be more productive back at the office.
Take home tools include:
- Worksheets designed to help participants work through the Five Forces Analysis based on the unique business model they’ve chosen
Program ID: D1791-PL
How to offer this workshop at your next medical tourism conference:
Contact Maria Todd for details, schedule availability and pricing. +1.303.823.4662
*This workshop is also for private hands-on learning at your facility.