In today’s competitive market, there is a constant need to evolve. The moment a business stagnates, competitors outstrip. Hence, there is a strong requirement to focus on how to keep growing. A company has numerous areas to focus on to help cater to the client’s need. This is the time when an outlook directed towards the years to come is ignored. So, to have a promising future for Genco, we have a business proposal.
Genco is a large company that belongs to the health care domain. It started as a manufacturer of medical instruments and equipment. Later it bought its way through into the software sector by acquiring MedCom. At present it is solutions provider catering to hospitals in the back office functions.
At present it does not provide any other software solutions. Moreover, …show more content…
Identification, assessment and prioritising these risks gives the team an advantage to handle uncertain situations.
The probability depends upon the likelihood of the occurrence and impact is considered high if it affect the underlining criteria of success i.e cost, time, quality.
A risk register is maintained with risk source,scenario, risk trigger, probability, impact and mitigation strategy.
Risk management strategy helps:
Recognise the risk and all its possible triggers
Prioritise the risks to be wary of the severe risks that can obstruct the successful delivery
Prepare a mitigation strategy to limit the impact
POTENTIAL SOLUTIONS:
Revamping market strategy and dedicated teams.We propose the recommendations on the basis of analysis. Some suggestions based on the rigorous market research , market trends, minimum risk and cost may be changing current marketing strategy
Fragmenting into other softwares Fragmenting into sister software companies to provide compete solution to the hospitals. This calls for the need to target a new market or meeting the needs of the current
Genco is a large company that belongs to the health care domain. It started as a manufacturer of medical instruments and equipment. Later it bought its way through into the software sector by acquiring MedCom. At present it is solutions provider catering to hospitals in the back office functions.
At present it does not provide any other software solutions. Moreover, …show more content…
Identification, assessment and prioritising these risks gives the team an advantage to handle uncertain situations.
The probability depends upon the likelihood of the occurrence and impact is considered high if it affect the underlining criteria of success i.e cost, time, quality.
A risk register is maintained with risk source,scenario, risk trigger, probability, impact and mitigation strategy.
Risk management strategy helps:
Recognise the risk and all its possible triggers
Prioritise the risks to be wary of the severe risks that can obstruct the successful delivery
Prepare a mitigation strategy to limit the impact
POTENTIAL SOLUTIONS:
Revamping market strategy and dedicated teams.We propose the recommendations on the basis of analysis. Some suggestions based on the rigorous market research , market trends, minimum risk and cost may be changing current marketing strategy
Fragmenting into other softwares Fragmenting into sister software companies to provide compete solution to the hospitals. This calls for the need to target a new market or meeting the needs of the current