Porter’s 5 Forces in Medical Devices
Aloha and welcome to another Imua on TV episode. If this is your first time watching, this is a great resource for you if you’re developing a medical product or if you just have an idea for one and you haven’t started. You can also check out our website, it’s imua-services.com, that’s I-M-U-A services.com. There we have more resources for you, we have a podcast, you can find all the episodes of Imua on TV and I will see you over there. So let’s dive in to our video today. So you may remember from your upper level business classes or your MBA, those Porter’s five forces. So if you haven’t had that then I’ll just tell you what that is and if you had just think of it as a reminder. This is a framework designed by Michael Porter and he is a Harvard Business School Professor. His methods are use in practically ever under graduate and MBA program. So why are they important? Will they utilize all of the different forces around your product that can pull it in different ways? Today we’re gonna be using an example of medical device and looking how this apply. So ideally what I want you to do is look at these on how they apply to your idea, your product, and development or if you already have a product on the market, this is really good. Just dive into and look at occasionally. So for our example today, we’re gonna use a shoulder implant to show you how this applies in medical devices.
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