The venture will be conducted in the economics of the UK where different types of people exist. However, the older people can afford the latest technologies it will help the Hosping Care to expand the area. The healthcare business in relation to the aging is a new idea of business, there is not a whole institute in the economy. The healthcare industry shares 11% out of the total industry. The healthcare industry has generated around 15.4 billion dollars as income so it is predicted that a new hospital for aging-related issues will provide extensive support to the business.
The new venture business might face several competitions from the market. However, identifying the weakness and strengths can help the proprietor and business to stand-up against the competition. The hospitals are enjoying the geographical advantage of the business. When it comes to strengths, the competitors are enjoying the following benefits.
When it comes to the weakness of the competitors, they lack capital and innovative ideas to execute the modern programs. Apart from that, there is little to no support for aging programs in hospitals. There are no external programs for the competitor in relation to different strategies. The competitors are not as wide as the new venture that is why it is facing issues while solving the aging-related issues. As the business is covered with specific competitors, the purpose of positioning strategy will enhance the customer service. When the Hosping Care is positioned well in the society, then it will face competition in the market.
In a competitive business world, the Hosping Care should include different strategies when it comes to selling its products and services. It will extend the business if the custom strategy fits in the market perfectly. As a result, the profit yield will be increased by rendering the same service with different techniques. In the case of aging issues, the nursing homes and hospital venture should adopt the modern skin techniques to rejuvenate the wrinkles and symptoms of diseases. The spirit coupled strategies will be very helpful when it comes to evaluating the aging-related services.