(Solution) Analysis for Internal / External Consistency of Proximie’s business model
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Description
Question
Analysis for Internal / External Consistency (300 words)
Evaluate how well Proximie’s business model is aligned internally (between its activities, resources, and value propositions) and externally (with its environment, including market demand, competition, and technological trends). Use relevant frameworks to assess the strategic fit of Proximie’s business model and to identify any potential misalignments or gaps.
Solution
Analysis for Internal / External Consistency
Internal Consistency
The case study reveals that Proximie has a coherent business model where its resources and its activities are well-aligned with its value proposition (Stern & Thapar, 2022). Internally, Proximie’s use of an XR platform and its status as a data aggregator complements its mission to share surgical expertise worldwide. Its accessibility is fostered due to the device-neutral and bandwidth-adaptive nature of the platform facilitating its integration with a range of health care systems from high-income hospitals to relatively limited clinics.
External Consistency
Externally, we can identify that Proximie is consistent with market needs and trends by aiming to eliminate the gap in healthcare access and meeting the rapidly growing need for remote health care services. The company’s value proposition is timely, especially given the new trend, characterised by the COVID-19 pandemic, where remote collaborations from different health facilities became important (Moynihan et al., 2021). For instance, the collaboration with Teladoc Health shows that Proximie capitalises on telehealth tendencies by entering and fitting well-known virtual care structures. Such technological foundation of Proximie’s model also correlate with increasing trends in XR, AR and AI elements while healthcare institutions embrace data-driven, computerised approach to treatment.
Strategic Fit of Proximie’s Business Model
Using the SWOT framework on Proximie (See figure 2), the company’s strengths include its adaptable technology, its strong market partnerships, and its data driven strategy (Peterdy, 2023). But it is also threatened by competitors in the medtech and digital health industries, and companies like Johnson & Johnson and Medtronic could develop their own similar solutions to compete with it. In order to stay in a healthy strategic fit, Proximie should continue to develop its partnerships with hardware and telehealth providers and take the next step to invest in more proprietary technology and data analytical capabilities to gain sustainable competitive advantages (Stern & Thapar, 2022).
| STRENGTHS
• Adaptable technology • Strong market partnerships • Data-driven strategy |
WEAKNESSES
• Reliance on hardware compatibility • Potential integration issues with new OR technologies |
| OPPORTUNITIES
• Develop stronger partnerships with hardware and telehealth providers • Invest in proprietary technology and data analytical capabilities |
THREATS
• Competitors in medtech and digital health (e.g., Johnson & Johnson, Medtronic) • Risk of similar solutions developed by competitors |
Figure 1: SWOT Analysis for Proximie
Source: Peterdy (2023) (Peterdy, 2023)…..
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