Globalization is the process of advancing one’s business operations globally. E-MAGINE can achieve its mission by continually expanding its operations by pitching international markets with various healthcare needs. One of the products that can perform well outside the USA is the active care hospital beds. The reason why I chose the product is that it will help in correcting the shortages of beds in hospitals. Active care beds are also helpful to patients with difficulties getting out of bed because they activate mobility, independence, and safety through a one-touch button that rotates the bed into the desired position. The active care bed is also a better product because it has installed features that allow the patient to stay in touch with the nurses if the need arises.
It will expand its operations in Brazil to maximize its profits and minimize costs. The first reason Brazil is chosen is that it is the leading buyer of healthcare products due to its most prominent healthcare market in Latin America. It shows that the country’s demand for advanced healthcare products is high. Secondly, COVID-19 impacted the country negatively by making the country run out of hospital beds, especially in the intensive care unit. Due to this shortage, the company will find a ready market for supplying active care beds in all Brazilian hospitals (Berti, 2020). Brazil also recognizes US brands because they perceive them as high-quality products and will readily purchase active care hospital beds.
Brazil Evaluation
There is a need to evaluate the country based on several factors to ensure that the product will be successful. The first factor is demographics. It is one of the most populous and diverse countries in the World. Research indicates that it is the seventh most populous country in the World. It has raced, including the Amerindians, Europeans, Africans, and Asians. Even though the government has reduced birth, fertility, and infant mortality rates, there is an increment in life expectancy due to the several innovations done in the healthcare sector, making the population continue growing. Since most municipal hospitals are crowded and have few beds, the company will supply the beds to these hospitals to improve the patients’ experience and enhance the quality of healthcare in the country. Secondly,
As seen in appendix 1, Brazil is in Central Eastern South America. It shares a border with ten countries. One of the geographical challenges that the company might face is competition from other companies like Medline and Invacare. However, the company plans to position itself in the market by defining under-serviced niches. Most municipal hospitals experience bed shortages, and the company will concentrate more on these hospitals than large and private hospitals. Thirdly,
One must study the cultural environment for foreign products to perform well in host countries. One of the successful tips for conducting business in Brazil is having a proper understanding of its commercial culture (Reitermann, 2018). One of the cultures is having a solid relationship with the business partner built on trust. Portuguese is the most spoken language in Brazil; therefore, foreign business partners must have background knowledge of the language to succeed. The county’s current labor landscape indicates that employees can work up to 44 hours and have a maternity leave of four months fully paid, while new fathers are allowed five days of rest. It enables the business to calculate its work plans because it would require recruiting Brazilian employees to help pitch the best markets for the products. In addition to this,
The government/ political environment in Brazil also influences foreign companies. One of the factors is the complicated tax system (International Trade Administration, 2022). Several challenges, such as many cascading taxes and tax disputes, pose challenges to foreign companies that want to conduct business in Brazil. However, for the company’s product to be successful, there will be a proper investigation into how taxes influence the healthcare system. The country also has complicated regulatory approaches that can impact foreign businesses negatively. The company will have to re-test the product and re-certify it to meet the technical requirements in Brazil. Economic factors like unpredictable economic recovery are also a cause for concern. Since it is still determined whether the country will recover from the economic turbulence, the company should devise ways to minimize costs to enhance the product’s success.
Conclusion
Hospital beds are one of the essential healthcare needs in Brazil. Therefore, the product plan will be successful when the company correctly pitches its market entry into the country. Brazil is also one of the largest healthcare providers; numerous patients require proper care. Since the active beds can provide independence, they will reduce patients’ injury through falls and promote quick responses.
References
Berti, L. (2020, March 17). Is Brazil’s healthcare system prepared for the COVID-19 pandemic? The Brazilian Report. https://brazilian.report/society/2020/03/15/brazil-healthcare-system-prepared-covid-19-pandemic/
The International Trade Administration. (2022, January 22). Brazil – Market challenges. International Trade Administration | Trade.gov. https://www.trade.gov/country-commercial-guides/brazil-market-challenges
Reitermann, S. (2018, May 31). Cultural considerations when doing business in Brazil. TMF Group | Global compliance and governance experts. https://www.tmf-group.com/en/news-insights/articles/2018/may/cultural-considerations-when-doing-business-in-brazil/
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