Question

Assignment: 1.What are some potential risks or drawbacks from changing or expanding the scope of your organization’s service line, in order to reach new markets? 2.Are there any benefits for doing so? 3.Does the “dog”; (organization) wag the “tail” (marketing), or is it the other way around? Reading List: Francer, J., Izquierdo, J. Z., Music, T., Narsai, K. Nikidis, C., Simmonds, H., & Woods, P. (2014). Ethical pharmaceutical promotion and communications worldwide: codes and regulations. Philosophy, ethics, and humanities in medicine, 9(1), p. 7. Available in the Trident Online Library. Geangu, I. P., Dumitru, I., & Gârdan, D. (2013). Ethical and legal aspects of marketing activiity in the field of dental healthcare services. Contemporary Readings in Law and Social Justice, 5(2), 904-918. Gitterman, A. (2013). Ethical issues and practical challenges raised by internal investigations in the life sciences industry. Defense Counsel Journal, 80(4), 372-394 Glied, S., & Oellerich, D. (2014). Two-generation programs and health. The Future of Children, 24(1). Hancher-Rauch, H., Hicks, L., Mayol, M. H., & Casselman, K. (2013). SAVING YOUR WELLNESS PROGRAM. Journal of Physical Education, Recreation & Dance, 84(6), 29-34.

Answer

Marketing Services and Opportunities

Contents

Introduction. 2

Potential Risks Associated With Expanding or Changing Scope of an Organization. 2

Possible Benefits. 2

Does the Dog Wag Its Tail?. 3

References. 4

Introduction

Potential Risks Associated With Expanding or Changing Scope of an Organization

Expanding or changing business scope exposes an organization to external risks. External risks come from external events that an organization has no control over. Business risks likely to arise are financial strain and loss, ever-changing technology, extensive competition among others (Geangu, Dumitru&Gardan, 2013). The reason why most risks happen is overconfidence in risk assessments and the accuracy of forecasts. Additionally, risk managers may possess a narrow scope of risks that may occur as well as the unknown variables like economic fluctuations and consumer preferences in the future towards the services provided by health organizations.

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Possible Benefits

On the other hand, there are several benefits that can arise from the same. A healthcare organization will get to reach out to new patients through introducing new or supplementing the available services hence reaching out to unexploited customer markets (Francer, Izquierdo, Music, Narsai, Nikidis, Simmonds & Woods, 2014). This means an increase in returns and profit margin for that organization. In addition, an organization obtains economies of scale. This is as a result of distributing expenses and risks over greater internal economies hence reducing the impact of a poor decision or risk harming the entire organization.

Does the Dog Wag Its Tail?

Marketing affects the strategy an organization adopts. Effective marketing strategy takes into account the health of an organization in order to develop visions and goals that are attainable (Hauncher-Rauch, Hicks, Mayol&Casselman, 2013). External factors such as economic trends, competitors, social trends and demographics also help develop marketing strategies. Additionally, code of conducts appropriated to healthcare providers should be considered(Geangu, Dumitru&Gardan, 2013).If the organization was let to control marketing, in most cases it would result to wasted opportunities and resources due to the pressures of simply getting something done. Hence, the more sustainable and effective approach is to let marketing determine the direction for an organization and not vice versa. In idiomatic terms, it is better to let the dog wag its tails instead of the other way round.

References

Francer, J., Izquierdo, J. Z., Music, T., Narsai, K. Nikidis, C., Simmonds, H., & Woods, P. (2014). Ethical Pharmaceutical Promotion and Communications Worldwide: Codes and Regulations. Philosophy, Ethics, and Humanities in Medicine, 9(1), 7.

Geangu, I. P., Dumitru, I., &Gârdan, D. (2013). Ethical and Legal Aspects of Marketing Activiityinthe Field of Dental Healthcare Services. Contemporary Readings in Law and Social Justice, 5(2), 904-918.

Hauncher-Rauch, H., Hicks, L., Mayol, M. H., &Casselman, K. (2013). Saving Your Wellness Program. Journal of Physical Education, Recreation & Dance, 84(6), 29-34.