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Guidelines for the Final Project The final project involves the strategic analysis of two competing companies (Stryker Corporation Vs. Hill-Rom Holdings Inc.), using theories, concepts, and techniques. The maximum length permitted is 20 double-spaced pages.Pick two companies that are broadly comparable and are competing against each other in some specific market. The two companies I select are both medical technology companies.Begin your paper with an executive summary: a short section introducing your two companies and highlighting the key dimensions of strategic difference between the two firms that you wish to cover in the full report. Pick key dimensions that you think are most relevant and interesting to these two companies. Be brief and focused; the point here is to give your readers the “big picture” and encourage them to read the entire document.Include an analysis of the environment within which your companies are operating if it is relevant to your key dimensions of strategic differences. If so, try to use Porter’s Five Forces model, PEST analysis, SWOT analysis, Value Chain analysis and conclude this industry analysis with a reasoned statement about the overall attractiveness of the industry within which your companies are operating. Please note that you should only analyze the environment to the extent that it is relevant to your key issues. Do not mindlessly go through all components of environmental analysis when they are not relevant.The main analysis should be geared through addressing the key dimensions of strategic differences you identified upfront. These dimensions can be in the form of business-level strategy, involving such issues as competitive advantage, strategic positioning, and competitive dynamics. They can also be in the form of corporate-level strategy, involving assessments of each company’s strategy with regard to vertical, horizontal, and geographical expansion. Again, be selective in your discussion and focus on the key dimensions which you think are interesting and relevant. Do not include superficial discussions of every aspect of internal analysis or strategy. Compare and contrast the strategies and performance of the two competitors (Stryker Corporation Vs. Hill-Rom Holdings Inc.), along key strategic dimensions. Evaluate the extent of differences or similarities in the two strategies. What factors account for the differences in strategies given that the firms are operating in similar environments?Finally, develop TWO brief scenarios (say, for the period 2-5 years out, depending on the pace of change in the industry) about likely states of the world relevant to the environment in which the companies compete. The scenarios can be hypothetical (use your imaginations!). Consider naming the scenarios. Based on your earlier analysis, assess how each of the competitors is likely to perform under each scenario, given their current strategy and organization (or the directions in which these are headed).Be sure to clearly reference your data sources, using footnotes or end-notes. Cite web addresses in full where web-based information has been used. In case of verbatim quotes of a sentence or more, it is usually necessary to use quotation marks and to cite page numbers. You may choose your preferred citation styles, but please be consistent throughout the report. Stryker Corporation, SYK (NYSE) – is an American multinational medical technologies corporation based in Kalamazoo, Michigan. Hill-Rom Holdings Inc., HRC (NYSE) – operates as a medical technology company worldwide. The company operates through Patient Support Systems, Front Line Care, and Surgical Solutions segments. Porter’s five forces and the structural determinants: Potential Entrants (Threat of New Entrants), Suppliers (Bargaining Power of Suppliers), Industry Competitors (Rivalry Among Existing Firms), Substitutes (Threat of Substitutes), Buyers (Bargaining Power of Buyers). PEST analysis (political, economic, social, and technological) of factors that impact a firm. SWOT analysis and its significance in strategic planning. Give examples of Strengths and Weaknesses (Internal Environment). Opportunities and Threats (External Environment). Value Chain analysis – Step #1 Component supply activities, Step #2 Research and development, Step #3 production operations, Step #4 sales and distribution and Step #5 service and support Avoid casual language in the written report. File Format: MS Word (doc or docx) documents with the latest version of MS Word. APA Style: APA 6th edition (American Psychological Association) Writing Style in all its courses which require a paper or an essay. Several useful links to this writing format are provided below. It is a requirement of this course that all papers are written using APA Style. The APA website (Links to an external site.)Links to an external site. and the Purdue Online Writing Lab (Links to an external site.)Links to an external site. are excellent references for formatting your paper. Strategic Analysis Stryker and Hillrom, the two giants in the healthcare sector, are continuously striving for dominance in a rapidly growing and evolving market landscape. When stepping into a hospital, the unmistakable competition between Stryker and Hillrom is palpable, reflecting their significant influence in the medical equipment sector. Both processing substantial market shares and facing challenges from sociocultural shifts. A STEP analysis indicates that a notably rising aging population demands more healthcare solutions and savings for the organizations they service. Technologically, the rapid pace of medical advancements requires substantial investment in research and design (R&D) from both companies to remain highly competitive in the market. Economic downturns, while posing risks might not significantly dent the essential nature of their products. However, political changes, especially in public healthcare systems, can be very impactful and play a significant role. A SWOT analysis reveals Stryker’s strengths in a diverse product range and robust R&D, while on the other hand, Hillrom holds a reputation that has a keen focus on patient care. Despite their differences, both grapple with similar challenges- such as regional economic risks and slow pace of technological adoption. Using Porter’s Five Forces, it is evident that the industry, while demanding high capital, is open to innovations from new entrants. The significant bargaining capabilities of these industry leaders curtail supplier power, while the merging trends in the healthcare sector enhance the leverage of buyers. Technological advancements also imply that product obsolescence is a looming threat, but it’s the rivalry between Stryker and Hillrom that is the most defining. Their intertwined futures in the healthcare market are governed as much by external influences as internal strategic decisions. As they advance innovation and adaptability will be their pivotal anchors.
