Defining the Competitive FieldYour M1 practitioner applicati
Defining the Competitive FieldYour M1 practitioner application will require devoted inquiry, assimilation, reflection, and refinement in order to achieve the highest possible score. Specifically, you are to take the scenario listed below, address it in full, and submit your work in accordance with the instructions contained herein. Importantly, this is an independent assignment to be completed by you and you alone. Sharing work with fellow students, supplying advice to your student peers, gaining assistance from outside parties, and similar actions will constitute violations of the academic code of conduct and will carry significant penalties in accordance with University policy.The ChallengeM1 focuses significant attention on the extremely important topic of market structure, including environmental surveillance. Among other things, you were introduced to Porter’s Five Forces Model, via your readings, which serves as a useful reference for defining competition. Specifically, you are to place yourself in the role of Strategy Officer for a soon-to-be-established dermatology clinic based in the city of your choice (you must select an actual city, as this exercise requires an actual market investigation). This entity will be named Meadowbrook Dermatology and it will offer the usual and customary array of services provided by dermatology clinics.The owners, new in their role as healthcare entrepreneurs, wish to gain a better understanding of competition in the market and enlist you to prepare an associated assessment. Your task is to conduct the assessment using Porter’s Five Forces Model. In doing so, consult a variety of information sources (e.g., telephone directories, the Internet, industry databases), your own firsthand knowledge of the marketplace, and other relevant sources in an effort to populate Porter’s Five Forces framework.As this is a practical exercise which must deliver real-world value, you are required to explicitly identify the relevant forces in the market (e.g., existing competitors/rivals must be listed by their specific brand name, substitutes must be explicitly named, and so on). Merely describing the forces in general terms isn’t sufficient for this exercise, as the result delivers very little operational guidance from the perspective of the practicing executive. (Remember—–the owners desire to gain a better understanding of competition in the market. They likely already have a general understanding; it’s up to you to deliver the specifics!) Be sure to consult additional resources of which scores exist regarding Porter’s model to assist you in gaining a proper understanding as you go about the assessment.(If you are not familiar with dermatology clinics and their role in healthcare, you can benefit by exploring operating centers, such as Ark-La-Tex Dermatology – Part of the Willis-Knighton Physician Network and others. Be sure you have a thorough understanding of this modality of care BEFORE attempting this assignment.)The Submission RequirementYour submission in its entirety must be between 1500-1800 words. It is to be typed (or pasted) directly into the Moodle posting window, after which you will submit your work. Attachments of any kind are prohibited and will carry no points value. Given the length of the submission, it is advised that students prepare it in a word processing program, and when finalized, copy and paste the text into the Moodle posting window. Moodle can be very finicky and often will distort formatting, so care must be taken in preparing your submission. If problems persist, consider using Windows Notepad, as it is very effective for transferring distortion-free text into the Moodle posting window, after which you can add formatting directly in Moodle.Your submission must be supported by 4 (minimum) to 10 (maximum) references, with at least 3 being from scholarly academic journals. (If you cannot ascertain whether a journal does or does not qualify as scholarly academic, contact the Noel Library and request assistance.) References may be prepared using the style guide of your choice (e.g., APA, MLA); just be sure to consistently use the selected style.In presenting your work, identify the title, your name and student ID number, and submission date at the top of your submission and supply the following sections, exactly as they appear below, placing each heading in bold text:IntroductionPorter’s Five ForcesExisting CompetitorsPotential EntrantsSubstitutesSuppliersBuyersConclusionsReferencesAssessment CriteriaYour submission will be assessed based on the following:Compliance quality: The degree to which your submission complies with noted guidelines, including word count and reference specifications,Communication quality: The degree to which your work meets standards expected in business communications, including matters concerning the use of proper grammar and punctuation, andContent quality: The quality of the content presented in your work.The Five Forces Model Five Forces Model
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