PEER EXAMPLE:
SMART Goals and Formal Outline
- Introduction-
- WeCare Medical Tourism Services is expanding to Switzerland. WeCare facilitates travel, accommodation, and medical appointments for patients seeking medical treatment abroad.
- State the specific target market for the venture.
- The target market is patients seeking high-quality medical treatments, cosmetic surgery, or wellness therapies.
- An analysis of the competitive advantage of your venture (Why will it be successful?)
- Access to high-quality care.
- Knowledgeable and compassionate staff.
- Customized attention through the planning process.
- PESTLE for Switzerland.
- Political: One of the safest countries. Economy: Inflation and interest rates are low. Social: Highly educated workforce. Technology: well-developed research and development sector and clinics offer outstanding infrastructures. Legal: effective data protection laws and labor laws that protect employees. Environmental: Natural disasters that can affect infrastructure and the loss of economy and human life. Loss of tourism.
- A 6- to 12-month timeline of your venture’s expansion.
- Months 1-3: Completing research on service exporting, the market, and partners such as clinics and hospitals.
- Months 4-6: Creating the service packages, prices, and developing the website.
- Months 7-9: Creating partnerships with travel agencies, accommodation, and transportation services.
- Months 10-12: Promotional activities and attending healthcare fairs.
- SMART Objectives
- WeCare will assist 100 patients with travel, accommodations, and appointments in the first year with a 90 to 100 percent satisfaction rate. We will track our bookings every 3 months and make necessary changes in marketing, scheduling or address any patient satisfaction issues.
- A summary of startup human resources and marketing concepts
- Human Resources: Begin recruiting medical and travel coordinators and customer support.
- Marketing: Develop a digital marketing plan and attend medical conferences and healthcare fairs
- A SWOT analysis of the venture that evaluates at least four challenges and advantages and/or opportunities and threats (e.g., cross-cultural, foreign currency, legal, etc.)
- Strengths: Five years of providing excellent support to patients in the U.S.
- Weaknesses: First international venture. Need for multilingual staff.
- Opportunities: Contribute to the economic growth of Switzerland.
- Threats: Natural disasters affecting staff and revenue.
- Suggest recommendations to overcome the challenges and threats from the SWOT you conducted.
- Perform research on service exports.
- Perform research on service export resources and assistance.
- Conclusion
- Summarize each point involved with the new service export venture.