Globalization In Business An Overview Of Globalization In Business

919 words - 4 pages

Business GlobalizationVarian Medical Systems Incorporated designs and produces integrated systems of equipment and software for treating cancer with radiation as well as cost-effective x-ray tubes for original equipment manufacturers (OEMs) and replacement x-ray tubes and imaging subsystems. The Company's operations involve two primary segments: Oncology Systems and X-Ray Products. Oncology Systems designs, manufactures, sells and services hardware and software products for radiation treatment of cancer, while X-Ray Products is involved in the design and manufacture of subsystems for diagnostic radiology. The Ginzton Research Center, Varian's research facility, also manufactures and sells Varian's brachytherapy products and services. Varian Medical has recently signed a sole source agreement to supply many cancer centers with advanced radiotherapy systems for treating cancer. Recent agreements demonstrate Varian's success domestically, and most importantly, globally.Global DemandThe radiation therapy industry currently enjoys a growing global demand for quality health care and Varian emerges as the dominant player in the radiation oncology market providing for customers and patients alike. Medical products and supplies as a whole declined by 17.9% in 2003 compared to a 5.2% decline in 2002. The radiation therapy industry advanced on the average of 40%. Approximately 50% of the industry revenues are generated from overseas business transactions, and Varian Medical Systems provides no exception. Selected by many economic professionals to carry this success for at least the next 10 years, Varian's long term success will ultimately depend on a strong global policy .Before 2001, linear accelerator sales were brisk, but competitors slowly caused pricing to deteriorate, subsequently net profit numbers suffered. After the Medicare reimbursement changes in 2001 (a 300% increase in most cases), the high demand of these 1.5 million dollar particle accelerators caused sale prices to increase by almost 25%. Varian pricing schemes were completely renovated when the demand increased to the point of adding a third shift of manufacturing employees; Varian finally realized the importance, and high demand of this high tech equipment. Although domestic business is stable and lucrative, selling technology and equipment globally, requires many different skills than required in the domestic market.Even with the advent of high reimbursement levels and higher demand for Varian equipment, the international market began to slightly slump around 2000. Lucky for Varian, the domestic market was filling the slight void created by a slumping world economy. Along with the stagnant world economy in Europe and the Far East, international medical reimbursement rates would not change enough to make Varian's new technology worth the significant investment needed by hospitals and doctors. Varian has encountered many challenges in the developed countries around the world to market and...

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