Political and legal
Political and legal environmental elements that impact TriMed’s decisions making process and operations include the form of economic system, which includes, capitalist, socialist, or communist, or some form of a mixed economic system The local legal system has impact to TriMed’s operations and ability to compete based on the system of regulations relating to medical equipment and liability statutes. The stability and integrity of both the political and legal systems in a market need to be considerations factored into TriMed’s decision making process when analyzing new, foreign markets.
One issue in the legal environment which has great importance to TriMed is intellectual property protections. TriMed’s competitive advantage is based on its proprietary, patented programmable sensors that enable new functions to be added to diagnostic equipment through software updates. This enables the organization to create new functionality and adapt the functionality to local requirements. The organization should avoid any market that has weak intellectual property rights enforcement as well as maintaining manufacturing in house.
Sociocultural…show more content… Hofstede’s cultural dimensions relating to power distance may become a factor in some cultures. According to Siegal (2008) a culture scoring high in power distance will have less need to entice patients based on quality because they will question those in authority, such as doctors, less. In A culture with a lower power distance, patients may be more demanding of healthcare providers in that they will expect faster, higher quality results that can be provided by TriMed’s
