Article: Price Competitor To Value Competitor

2774 words - 11 pages

UNIVERSITY TECHNOLOGY MARAFACULTY OF BUSINESS MANAGEMENTMGT 790STRATEGIC MANAGEMENTINDIVIDUAL CASE ASSIGNMENTARTICLE: PRICE COMPETITOR TO VALUE COMPETITOR(RESOURCE BASED VIEW: COMPETITIVE ADVANTAGE)Prepared by:Nur Rasyidah Binti Shahiruddin (2012405366)EMBA: 7714BSubmitted to:Prof Dr Zaini AbdullahDate of submission10th May 2014OverviewMindray Medical International Limited is China's largest medical equipment manufacturer and was founded in 1991 with the goal of delivering high-quality, competitively priced medical devices to make healthcare more accessible and affordable around the world. In 2006, the company was listed on the New York Stock Exchange and are now a leading, worldwide developer, manufacturer and marketer of medical devices. The company is divided into three organizational units: Patient monitoring & life support, in-Vitro diagnostics and medical imaging systems.It was reported that Mindray was able to increase its revenue and its gross profit from 2009 to 2012 by approximately 65 percent. As a result, it received several prices including the "2011 Frost & Sullivan Excellence in Growth Award".Hence, in this paper, the main focus is to deliberate and relate the competitive advantage of Mindray through the capabilities of its Research and Development and Internationalization strategy in order to remain as the global key player in medical devices industry.Competitive Advantage of MindrayDifferentiation AdvantageAmong Mindray competitors are Siemens, GE and Philips. Though those companies have been in the medical devices manufacturing much earlier than Mindray, Mindray has its own unique strategies whereby Mindray looked for new ways to make its technology easier to use via highly mobilising its strong Research and Development (R&D).To be able to keep the leading position in the medical device industry, a modern and good working R&D sector is very important for Mindray. Over the last years, the company had consistently reinvesting around 10% of its total revenue per year in its R&D division.The strategic way that the Mindray's R&D team implementing their strategies are by listening, observing and learning from the user's experience. Most people thought this market was too stable and too price-sensitive for meaningful innovation. The medical devices are basically designed to cater something nurses would love and trust. Whereas, the challenge was to build in durability without giving up emotional appeal or cost. For instance, the team rethought every aspect of a roll stand by modifying the geometry of a conventional chair base for a larger toe envelope, better ergonomics and a more inviting look.In addition, Mindray has also established a global R&D network with research centres in Shenzhen, Beijing, Nanjing, Shanghai, Chengdu, Xi'an, Seattle, New Jersey, and Stockholm. The establishment of its newest R&D center in Miami, in 2012, shows that Mindray continues to enlarge its R&D network. As a result of...

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