Medicorp should keep csr in mind taking

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MediCorp should keep CSR in mind, taking responsibility of itself, its stakeholders, and the public. MediCorp should be conscious of the kind of impact they have on all aspects of society, including economic, social, and environmental. CSR can help MediCorp’s customer baseloyalty. Through CSR, consumers can look up to MediCorp, supporting the business even more. As MediCorp practices the principles of CSR, this helps the brand stand out. The measures that MediCorp takes towards CSR will not only help in high revenue, but also keep loyal customers.
Project 5 Report14The first plan of action to ensure that a company abides by the principles of CSR is to specify a target in the goals of the business. The next step is to make a plan and implement the plan to reach these targets and goals. Explicit social issues should be identified. What MediCorp could do to help those social issues should then be identified, and driven. As nebulizers are madeof plastic, MediCorp should focus on plastic waste and the impact it has on the earth. MediCorp could campaign a way to make their nebulizers more “earth friendly”, and promote recycling in order to reduce the amount of plastic waste that is harmful to the environment. For MediCorp to enter and prosper in this new business venture, MediCorp would benefitfrom finding a social problem that they could make an effort in to improve. Without a clear and shared consensus on questions such as what MediCorp’s corporate social responsibilities are, who the directors of MediCorp will be accountable to, why MediCorp exists, and how MediCorpwill make company policy and decisions, MediCorp will not be able to increase the effectivenessof the corporate governance function.
Project 5 Report15Financial ProjectionsSome of MediCorp’s top competitors of medical devices in the German market include Geratherm Medical AG, Itamar Medical Ltd, GlaxoSmithKline PLC, Cea Medical Manufacturing Inc, and Avita Medical Ltd. For the fiscal year 2018, the total revenue of each company is as follows: Geratherm Medical AG - $24,630,000.00; Itamar Medical Ltd. - $26,110,000.00; GlaxoSmithKline PLC - $41,140,000.00; Cea Medical Manufacturing Inc - $26,610,000.00; Avita Medical Ltd. - $25,330,000.00 (Geratherm Medical AG, 2020). (See Appendices E for “The Total Revenue of Each Company, 2018”). Currently, the total value of themedical device segment in the German market is at $4.3 Billion.The global nebulizer market is valued at $720 million USD in 2018, $926.1 million USD in 2019. It is projected to reach $972.45 million USD in 2020, and estimated to increase to $1.44 billion USD by the end of 2024, growing at a Compound Annual Growth Rate (CAGR) of 4.02%during 2019-2024. Although not reporting exclusively on nebulizers, Business Insight has reported that Germany’s respiratory device market was valued at around $1.1 billion USD in 2018 and is estimated to grow at a CAGR of 6.5% during the forecast period of 2019 to 2025.

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