Page 10 - CIMA MCS Workbook February 2019 - Day 1 Suggested Solutions

CIMA FEBRUARY 2019 – MANAGEMENT CASE STUDY

OPPORTUNITIES

 Development of “big data” analysis
 Brand extension
 Diversification into new markets ‐ e.g. neighbouring towns/cities
 Development of existing markets
 New product development ‐ e.g. cosmetic dentistry
 Expansion options – geographic expansion
 Growth options e.g. acquisition of competitor(s)
 Exploit new technology – e.g. laser powered drills
 Improvements in performance measurement
 Improvements in risk management
 Improvements in change management
 Improvements in decision making techniques
 Improvements in cost control
 Improvements in budgeting

THREATS

 Highly competitive industry
 Environmental pressures
 Ethical issue – e.g. marketing new services (up selling)
 Political pressure re regulation
 Unpredictable future customer demand
 Supply chain e.g. dental laboratories
 Quality errors and effect on reputation and brand
 Increasing threat from future technological developments
 Economic risk – e.g. consumer disposable income
 Social risk – e.g. change in consumer tastes
 Health and safety risk – e.g. faulty sterilisation equipment/products
 Legal issues re inappropriate/incorrect treatment – e.g. litigation
 Cultural threat via expansion plans
 Local smaller dental clinics offering services at cheaper rates

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