Follow Us

(aravind hospital) Critically evaluate a specific entrepreneurial idea based on appropriate interpretation. and investigation of the competitive marketplace



Aravind is an eye care hospital that been founder by Dr. Govindappa Venkataswamy in the year of 1976. There is just a small hospital that only has 11 beds in India. At that time, it may be found that there is no entrepreneur who was focus on the cataract problem, this is also why Dr. V is choosing to create the Aravind eye hospital.


It can be seen that in the year of 1976, they are less competitor for the creation of the Aravind eye hospital in the ophthalmology business. When Aravind engages in the ophthalmology business, it has a low competitive market which also means that Aravind eye hospital at that time is still no popular and no position in the competitive marketplace. However, until today Aravind has starting to become a huge enterprise, and slowly come to people’s vision, the competitor also starts to value the Aravind.

 

Based on the information get on the internet, it can find that Aravind has a few of the top competitors, which were Narayana Health, Vasan eye care, Agarwal’s Hospital, and so on. For example, Narayana Health is a specialty eye care hospital that established in the year of 1982. It was located at Srirampuram, Bangalore. Compare with Aravind, Narayana's health and other competitor are more prefer and focus on paying users, but Aravind is a social entrepreneur so it will more focus on the poorer and free users.

 

Aravind is also having a better reputation among all levels of income of the people because of having the free-of-charge services. This is because Aravind eye hospital has a low cost of operation compared with other competitors and trained the own excellent good staff. However, Aravind eye care hospital is generating less profit which also causes that there is less salary payment for the worker compare with other eye care hospitals. Other than that, Aravind is failed to offer a better incentive plan for its worker.

 

Based on all the points, it can be found that Aravind is likely domination among lower and also the middle-income group, but it was not too famous for the high-income group. This is because Aravind is likely a charity social entrepreneur, with little profit, it makes the Aravind become hard to acquire advanced technology and equipment to engage in the high-income high-quality market.

 

As a conclusion, here is some of the suggestion is recommended to the Aravind eye hospital to improving. Firstly, Aravind eye hospital was a family business, most of the management-employee where family members, so it suggests that Aravind should accept more management talent from outsiders but not only the member inside the family. Second, Aravind needs to find a solution to improve the welfare of labor and hike up the labor salary. To make a business sustain, it was no matter with how success does a company do before, it was always about how an entrepreneur effort just like Aravind and other company, even there is very successful now, there are still finding the way to improve themselves as well as they can.



More Info:

Explain Aravind's key success factors as a Social enterprise.
https://spotthewrld.blogspot.com/2021/04/explain-aravind-key-success-factors-as.html

five (5) Logistics strategy is directly influenced by strategic decisions in functional areas
https://spotthewrld.blogspot.com/2021/04/logistic-question-answer-discuss-five-5.html

Explain the benefit and drawbacks of entrepreneurship
https://spotthewrld.blogspot.com/2021/04/explain-benefit-and-drawbacks-of.html

Briefly discuss the process flow of a good entrepreneur process
https://spotthewrld.blogspot.com/2021/04/briefly-discuss-process-flow-of-good.html

rationale and the market gap for a specific entrepreneurial idea using relevant tools and techniques to support your choice
https://spotthewrld.blogspot.com/2021/04/explain-rationale-and-market-gap-for.html

0 comments: