Boston Scientific Case

Boston Scientific is dedicated to transforming lives through innovative medical solutions that improve the health of patients around the world. (6) To drive this mission Boston Scientific plans on strengthening their execution to grow shares in the core markets and drive global expansion through international markets that have high growth adjacencies. Boston Scientific is going to fuel that journey through continuous improvement in their practices and develop key capabilities and programs that will shift the global healthcare marketplace to have Boston scientific lead the way. (6) With CEO Michael F. Mahoney leading the way with his committed mindset of pursuing the kind of strong, sustainable company that Boston Scientific’s mission statement proposes; along with having the information needed to improve that company as a whole in financial and customers mindsets.

Opportunities and threats will present themselves along the way of any company to either help or prevent them from getting to complete their mission statement; including Boston Scientific. Opportunities are more welcoming than threats but threats can help a company improve on a lot of problems because if they don’t then they will end up bankrupt and destroying the entire company and employee’s lives. With the population aging and longer life expectancy increasing every year, the medical device industry is going to be increasing in demand more and more. Boston Scientific has a huge opportunity to increase revenue through increased market share of this trend. Along those same lines is the advancement in technology in the past few years to continue to grow and change the industry causing hospitals and customers to demand these new technologies or products. Boston Scientific can reach out and grab that increase in demand for newer and better technology which has a huge opportunity to increase revenues with just research and development standing in its way. Threats are more difficult to pick out but the biggest one is the consolidated industry of medical devices that a price war can break out at any time to pull customers toward one company or another. Overseas competition is only getting stronger as well with Australia becoming a big power in the medical device industry and can infiltrate the US market with some of its products and take away customers from Boston Scientific. The final major threat to the industry and Boston Scientific is the power of suppliers and how they affect how often and the price of the materials they send to Boston Scientific so that Boston Scientific can make their products as they were designed. Suppliers have the material that is needed and the limited number of suppliers for the medical device industry, any confrontation between Boston Scientific, or any other medical device industry company, will cause the price to go up on the raw materials and in turn raise prices for Boston Scientific and detour customers from purchasing the products that Boston