Threat of Substitutes. Threats of substitutes in the neuropathy treatment and diagnostics industry is relatively low considering the nature of the services provided. There are few providers who have the tools to diagnose and treat the symptoms of neuropathy; therefore the existence of substitutes that are close in nature is a weak competitive force. This is due to the specialized nature of the industry. The NTCA centers could charge high prices if they wanted, since the threat of competition is lower than some (Hill & Jones, 2010).
Intensity of Rivalry among Competitive Firms. Rivalry can become a large problem within organizations if matters are not handled correctly; and even if they are rivalry will still exist to some extent. Each certified NTCA center is its own entity; therefore rivalry can even exist between these centers. Each separate neuropathy treatment center wants to gain market share from the others. They can do this by using factors such as price, design, advertisement, and promotions among other factors (Hill & Jones, 2010).
Industry Life Cycle
The NTCA is currently in the growth phase of its life cycle. Within this phase, the organization is said to be taking off as customers enter the market (Hill & Jones, 2010). The NTCA has differentiated its name and at the current time has a stable market. The expansion of the services provided by the NTCA is ongoing due to new NTCA certified centers opening around North America (NeuroTCA, 2011).
Macro Environmental Forces
The dynamic and unpredictable nature of the healthcare industry creates the need for organizations to plan for sudden and unexpected changes that could affect the provider themselves or the consumer. The unpredictability and instability within the external environment could have detrimental effects on patients and healthcare providers alike. The NTCA will need to consider the fact that a changing environment will impact the future of the organization, which could inevitably weaken it (Hill & Jones, 2010).
Global Forces. Opportunities for the NTCA exist in the global market. Global expansion will allow the NTCA to take their cutting edge technologies abroad. Since the development of Dr. DiDuro’s methods in Europe, the United States and Canada have benefited, but the rest of the world is still suffering. Dr. DiDuro has the opportunity to corner the global market in regards to neuropathy diagnostics and treatment.
Technological Forces. Opportunities exist for the NTCA as technological advances are made. The NTCA uses technology to create their specialized diagnostic tools. As advancements are made in technology, the same will happen with the diagnostic technology used by the NTCA. The lasers used concurrently with treatment can be updated as technological advances are made as well (NeuroTCA, 2011). This will allow the NTCA to stay up to date with the most cutting edge technologies available. This will help them to be a valuable center, and not face the threat...