General Electric Medical Systems Essay Example | Topics and Well Written Essays - 2500 words

General Electric Medical Systems - Essay Example PEST Analysis Political UK offers stable political conditions and a favorable business environment. The laws, rules, and regulations are also favorable for any company to establish its business operations in the region. It is said to provide a very politically friendly environment for conducting businesses. This has made it one of the leading destinations of investments by companies expanding their global operations. The country also maintains consular relationships with other countries. This would provide a favorable place for the growth of the healthcare sector (Coleman, 2010, p.12). Economic The open economy of UK enhances the facilities if international trade and also provides opportunities for conducting overseas businesses. The gross domestic product or the GDP rate is as high as $2,345 billion. According to forecasts, it is expected to develop the â€Å"strongest business environment of all major European economies for the period 2007 to 2011† (Coleman, 2010, p.12). It is also blessed with a strong workforce which is a basic requirement for the establishment of any enterprise. This implies that the company would not confront with problems in finding manpower. Socio-Cultural The most favorable aspect is the absence of any adverse cultural or religious influences on ways in which businesses are conducted. Also, the general business hours start from 9 am and runs till 5.30, which demonstrates very flexible timings of work. The number of working hours in a week is 37.5 (Coleman, 2010, p.12). The media sector is also predominant and flourishing which would provide greater facilities of communication for business and the general public. Technological It has a number of development agencies which look into the promotion of the economic growth of their respective regions. One of the main sectors that come under the purview of these agencies is healthcare technologies. It tries to identify the business needs and prospects of the industry (Coleman, 2010, p. 17). The nation has been showing immense productivity growth and has been outperforming most other nations. This can be attributed to the technological innovation of the nation. Competitive Analysis The healthcare system in the UK is highly competitive. The government has been making extensive efforts in â€Å"extending choice and competition† in the healthcare sector to enhance productivity. This has also been done in favor of improving the healthcare services as per the needs of patients. The result has been improved healthcare services at low costs (Propper, 2010, p.6). â€Å"UK Healthcare† is one of the best providers of medical services in the nation. â€Å"The UK Albert B. Chandler Hospital† is considered to be one of the best hospitals in the nation. It is also said to be the best academic medical center. The nation has also witnessed the growth of a number of online medical facilities (UK Healthcare, 2007, p.1). There are numerous numbers of suppliers of medical services. Some of the well-known names are â€Å"Baxter Healthcare Limited†, â€Å"Bayer PLC†, â€Å"Beckman Coulter UK Limited† (Burton Hospitals, 2008, p.1), etc.