Unemployment Drives More People to Start Businesses - Essay Sample

Introduction

According to Kvedaraite, the increasing rate of unemployment across the world accounts for the main reason behind numerous people seeking to start their businesses (2). The number of people unemployed in 2018 was approximately 172 million across the world (ILO 2). ILO expects the current worldwide unemployment rate of 5 percent to remain substantially constant over the next five to 10 years (2). However, unemployment is not the only reason for initiating a business venture. These worrying statistics make it critical for many people to start businesses to create employment and resolve the associated challenges. People start businesses for multiple reasons, including the overall need to make money, resolve major community issues such as chronic diseases, and gaining essential skills in life (Kvedaraite 4). As a result, Malcolm Diabetes Company (MDC) is a new business venture seeking to help in the effective prevention, management, and eradication of diabetes across the world. This paper discusses the reasons for the choice MDC, its mission statement, the target market, and how to reach the target markets.

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Organizational Overview

MDC is a global profit health organization dedicated to achieving effective prevention, management, and elimination of diabetes in contemporary society. The company will operate as a partnership formed by multiple health professionals across the world (Stetson, Minges, & Richardson 128). The business will, therefore, feature health practitioners such as physicians, doctors, nurses, pharmacists, and physiotherapists. MDC will bear its headquarters in Cupertino, California, in the United States. The company targets both the United States and the global market. As a result, the organization will operate regional centers and offices across the seven continents. The firm's operations will begin from the United States. However, MDC's management plans to expand its operations into other foreign countries after having an unbeaten run in the United States (Shen & Shen 1). The organization will, therefore, run a wide range of highly integrated services to ensure effective prevention, management, and elimination of diabetes in the targeted populations.

First, the company will run health promotion health services about the diabetes menace. Promotion services will include raising awareness regarding healthy behaviors required in the prevention of diabetes through effective communication (Mirza 1; Asif 1). Health promotion will also entail the provision of high-quality screening services to help in the effective diagnosis of people suffering from different types of the disease. Secondly, MDC intends to hire an experienced team of physicians to further the achievement of its goal of preventing diabetes. These professionals will partner with community volunteers to empower behavior change as well as actions among targeted audiences. Thirdly, these physicians will be crucial in ensuring that the company provides high-quality diabetes treatment and management services. Physicians will also help the company in carrying out continuous research to determine and address some of the trends and challenges associated with diabetes (Asif 1). Lastly, MDC will provide high-quality rehabilitative services to speed up the recovery of different conditions resulting from diabetes such as amputations. MDC's physiotherapists will partner with other specialists to ensure that its diabetic patients recover from such circumstances.

Reasons for Choosing Malcolm Diabetes Company (MDC)

There is a myriad of reasons behind the choice of launching MDC. First, MDC seeks to address the global menace of diabetes mellitus. The company's primary goal is to help in the effective prevention, management, and elimination of diabetes across the world. According to ADA, diabetes remains the seventh condition that accounts for the current rise in mortality cases in the United States since 2015 (1). Diabetes accounted for a total of 252,806 deaths in the same year (ADA 1). The prevalence of diabetes among the U.S citizens is also high when compared to other diseases such as cancer. In 2015, a total of 30.3 million Americans, representing 9.4% of the total population, had the condition (ADA 1). However, the primary form of diabetes is more prevalent secondary one. An approximated number of 1.25 million children and their adult counterparts had type-1 diabetes in the United States (ADA 1). The global statistics and trends about diabetes are also worrying to the extent of making it crucial to launching MDC.

According to WHO, the total number of people with diabetes across the world rose from 108 million to approximately 422 million in 1980 and 2014, respectively (1). Diabetes' prevalence continues to rise as a result of multiple reasons, including a sedentary lifestyle. However, the World Health Organization's (WHO) 2019 report shows that this increase is more rapid in middle-and low-income countries. Diabetes remains a major cause of multiple complications globally. The disease results in blindness, heart attacks, failure of the kidney, stroke, and amputation of the lower limbs (Kvedaraite 5). However, most of the cases associated with diabetes go unreported. Findings from comparative studies indicate that authorized bodies such as ADA and WHO account for only about 35 to 40 percent of deaths resulting from diabetes (WHO 1). The second reason for the choice of MDC is to create more job opportunities across the world. Diabetes is a sensitive health issue and attracts attention from numerous health practitioners across the world. Therefore, forming MDC will not only help in averting the current prevalence rates of diabetes but also provide employment opportunities.

As a result, the company seeks to employ about 4,500 health practitioners across the world. These practitioners will include physiotherapists, doctors, physicians, nutritionists, nurses, and community health workers (Mirza 1; Asif 1). They will help in the treatment of diabetes cases and effective management of its associated conditions. Thirdly, MDC's formation came as a result of the need to sensitize and create awareness in the community with respect to the effective prevention of diabetes. For instance, the company provides the best option for advising people on how to prevent type-2 diabetes through regular physical exercises and maintenance of normal body weight. Additional strategies for preventing the disease include eating a healthy diet and avoiding alcohol, tobacco, and substance abuse. However, adhering to medications, regular screening, and timely treatment of complications can help in managing the diabetes menace. Lastly, the choice for this diabetes business came as a result of the need for further research in the management of the disease. Therefore, MDC will help in the continuous training and development of specialists interested in attaining effective prevention, management, and elimination of diabetes across the world (Stetson et al., 130). This training will be crucial in boosting the skills, knowledge, and experience of a health practitioner needed in handling cases of diabetes.

MDC's Mission Statement

According to Braun, Wesche, Frey, and Weisweiler, the mission statement of an organization is a crucial element that determines its success (430). A mission statement provides a comprehensive explanation for the existence of a company. The statement also plays a vital role in outlining the strategic goals of an organization alongside the services that it seeks to offer to the target market. However, the mission statements of some companies identify their target markets and customers. MDC's mission statement entails helping contemporary society to prevent diabetes and its associated complications through patient education, health promotion, professional training and development, and treatment and research. This mission statement aligns with the company's vision as well as goals (Shen & Shen 5; Braun et al. 433). MDC envisions serving both as a national and global resource center in the effective prevention, management, elimination of diabetes. The company also seeks to find a permanent cure for the two types of diabetes through basic and clinical research. MDC wishes to become specifically sensitive to the distinct needs of all diabetes individuals across the world. Therefore, the company will address diabetes among individuals, their families, and the global community as a whole. Lastly, the company's approach to diabetes prevention, management, and eradication will entail health as opposed to the provision of medicines (Stetson et al. 132). The plan will aim at creating positive outcomes across the world.

Target Markets

Schwarzl and Grabowska define a target market as a group of consumers that a given business identifies as the potential consumers of its products and services (187). Choosing a company's target market is crucial to its success. The target market enables the organization to direct its resources to clients with a high potential for sales. Selecting the right target market is also critical in ensuring that the organization sells its products to the right people. Such people have the capacity to increase the profits and revenues of the company in the long-run. As a result, MDC targets different markets in its approach to help in the prevention, management, and eradication of diabetes. The company's primary target market includes people already diagnosed with diabetes. This target market consists of two different groups of diabetes health service consumers. The first group consists of people who have type-1 diabetes. Conversely, the second group consists of patients who have type-2 diabetes (Shen & Shen 4). However, the second group also contains people already diagnosed with type-1 diabetes.

The second market targeted by MDC consists of people vulnerable to the diabetes condition. Such people have never screened for diabetes but are vulnerable to developing the condition. Examples of such people include pregnant women, overweight individuals, and people with a family history of the disease (Stetson et al. 134). Nonetheless, age is a critical risk factor for developing diabetes. Children are at risk of suffering from primary diabetes, while adults may suffer from type-2. Women suffering from the polycystic ovarian condition also tend to develop diabetes. Lastly, members of some races have a higher risk of developing secondary diabetes than their white counterparts. These groups include Hispanics, Asian, and Indian Americans, and the Black ethnicity (Shen & Shen 6; Schwarzl & Grabowska 188). Lastly, people living in middle-and low-income countries and predetermined regions in the United States will form MDC's third target market. Research indicates that the prevalence of diabetes is high in such areas, hence the need for the target.

How to Reach the Target Market

According to Kvedaraite, the success of a company in executing its strategic plan depends on how it effectively reaches its target market (10). MDC seeks to launch its operations in a highly disfranchised global health industry. Therefore, the company's management has a significant task to execute in developing appropriate strategies for reaching the target market. The first strategy will entail building the company's brand. MDC will use LinkedIn to develop a unique brand admired by a wide range of customers across its target markets. Currently, LinkedIn attracts more than 50 percent of Americans with undergraduate degrees in different professions. These professionals will play a crucial role in helping the company to reach its target market via word of mouth. LinkedIn can also help MDC to connect and engage with its potential customers and partners in future (Mirza 1; Braun et al. 444). The company will, therefore, use Linke...