Date of this Version
Carter, J. (Spring 2018). A Strategic Audit of Medtronic PLC. University of Nebraska-Lincoln DigitalCommons.
Humans will always have a need for healthcare, and as the world continues to innovate in the tech space, consumers will demand advances in medicine and medical devices. Medtronic is at the forefront of this innovation but faces intense competition in the medical technologies industry. This poses the question: what can Medtronic do to continue its growth and stay competitive in this space? This paper offers an analysis of Medtronic as a medical device company by offering insight to its competitive advantage, financials, business mix, and value chain. It also analyzes the forces that affect Medtronic using SWOT, PEST, and Porter’s 5 Forces analyses. Insights from these will be used to determine strategic goals, develop a recommendation, and propose an implementation plan that Medtronic may use to continue its growth and address its major issues: reliance on U.S. markets, inability to grow sales in emerging markets, and stagnant growth in its Diabetes Group operating segment.