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SWOT Analysis Philips Healthcare
Transcript of SWOT Analysis Philips Healthcare
"Improving people's lives through meaningful innovation."
The Philips brand position is centered on their products.
"Sense and Simplicity"
"At Philips, we strive to make the world healthier and more sustainable through innovation. Our goal is to improve the lives of 3 billion people by year 2025. We will be the best place to work for people who share our passion. Together we will deliver superior value for our customers and shareholders"
Strong brand recognition
•Forerunners in medical technology – CT, MRI and ultrasound
•Expertise –recruitment, education and growth
•Financially stable – 14.3 billion dollars in sales in 2011.
•Innovation – 8% of sales goes back into research and development
•Location – Operations in 60 countries with sales in over 100 countries
•Staying current – sustainability in the environment and in healthcare
•Diverse products - Diagnostic Imaging Systems; Patient Care and Clinical Informatics; Customer Services; and Home Healthcare.
•Offering refurbished medical equipment to reduce financial strain on healthcare organizations.
•Commitment too many lines of product spread the company’s resources to thin and some products and service quality suffer.
History of Philips
1950s - 1980s
•Developing products for healthcare organizations that emphasize prevention through patient education
•Electronic Medical Record development
•Rising cost of healthcare makes organizations more hesitant to buy expensive equipment
•Government sees medical equipment and supplies as potential drivers for healthcare costs and places a cap on the prices of these items
•Healthcare Reform is so successful that future generations of healthy Americans rely less on healthcare and therefore Philips Healthcare products.
•Significant innovative competition from GE Healthcare and Siemens
Philips Healthcare Products
Emergency Care and Resuscitation
Outpatient Testing Facilities
Home Health Agencies
Changes in healthcare delivery
Rising cost of healthcare
Burden of Baby Boomers
Philips Healthcare responds
Offering refurbished equipment
Innovations to streamline quality diagnosis and treatment
Opportunity to expand prevention products and programs
Environmental & Market Factors
Similar products and market
Venture with Microsoft
Similar but fewer products
Mission, Vision and Brand theme - Innovations that improve people's lives.
Reinvestment in research and development (8%)
Recruitment and retention
Promotion of employee education and growth
$65,520 (refurbished Siemens)
Sample Cost Comparison for 3D ultrasound: