1.4 Capstone Case Project- Getting Started
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CAPSTONE CASE PROJECT TEMPLATE
Capstone Case Project Template Overview This document serves as a template for ECPI University students to complete their capstone case project for the BSBA program. The primary purpose of this template is to help students develop a quality and consistent capstone project. Students should follow the instructions included in each section of the template. The document is prepared using the American Psychological Association (APA) 7
th
edition style. If students identify elements that are not in APA style, they should make any necessary adjustments.
1 Capstone Template E-MAGINE Biomedical
Bianca Mervin
1/28/2023
2 Capstone Template Executive Summary The executive summary is always the first section after the table of contents and title page. It is a brief, yet comprehensive, summary of your proposal. Typically, the executive summary will be no more than one page in length and will include such items as a summary description of the proposal and findings. Mission and Vision E-MAGINE Biomedical mission is to produce and continually develop high-end quality healthcare products at a while fostering a climate where adaptive and advanced technologies can thrive. We will always strive to service our customer with the utmost integrity. E-MAGINE Biomedical vision to be the premier healthcare product manufacturer. We dedicate ourselves to be the supplier of choice. The only thing that I would add to the end
of the vision is “nationally and internationally”. I believe that this will stress the importance of the company’s vision to reach different areas of the world. Industry and Landscape
Included in this industry is manufacturing hospital beds and other specialized hospital furniture, researching and developing, and marketing. Industry revenue has grown at a CAGR of 4.4% over the past five years, to reach an estimated $2.8bn in 2023. This is when revenue will expand an estimated 2.6%. Industry demand is steadily rising due to factors such as population growth, aging demographics, advancements in medical technology and the expansion of healthcare infrastructure. Industry products encompass a wide range of specialized beds and related equipment designed to meet the diverse needs of healthcare facilities. The location of establishments in the Southeast and West regions is largely influenced by the size of the population and the age distribution of the population.
The industry exhibits a high level of competition. The hospital bed manufacturing
industry is a vital component of the healthcare sector. Many hospital bed manufactures have invested in product development. Over the next five years, the market size is projected to increase. The industry is poised for enhanced revenue growth in the future, primarily driven by increased hospital bed capacity.
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3 Capstone Template Products and Services The products that E-Magine offers include h
ospital beds, Long-Term Care Beds, Electric Wheelchairs, and Clinical Workflow Solutions. The services offered by E-Magine include: Beds which include remote customer services and maintenance 24/7, white glove installation, and customized consulting services, Health Care & IT Professionals Electric Wheelchairs which include customization of patient needs, remote customer service and maintenance 24/7, white glove delivery and orientation to chair Health, and care professional for long term use, Clinical Workflow Solutions which include customized consulting services, and Health Care & IT Professionals which includes remote customer services and maintenance 24/7 and employee and staff training.
Market Analysis and Plan
Start with the excel spreadsheet and fill out the SWOT, Competitive Profile Matrix, and Marketing tabs. This section outlines the target market, ability to capture the projected share of the market, as well as ability to handle the competition. Specific areas that require discussion include target customers; geographic targets; specific ability to reach and appeal to
the targeted customers; potential initial sales projections; etc. You can add charts, graphs, etc.
here as well. The proposed new bed’s marketing plan is critical. Each category from your Marketing tab should be covered here. Look at what others are doing in the industry and use that to create your own approach. Operations Plan Identify how the new beds will be manufactured and shipped. Is there a proposed
manufacturing facility? What size footprint is necessary to accommodate the volume planned
for production? Remember the Mexico location and its limitations. Will the labor force work
4 Capstone Template a single shift or is there a plan to work multiple shifts or schedule weekend teams, as well?
Inventory controls to manage minimum on-hand inventory levels should be considered. Will
you use any of the refurbished parts? Will the workforce manufacture the entire product, if
not what part is manufactured outside the facility and therefore NOT under direct control? Do
you want to have the beds put together in Brazil? Just-in-time operations must be described to
ensure the products manufactured outside the facility arrive in time to be used in the
development of the product. Too much inventory and there is a risk of tying up operating
capital. Too little inventory and the ability to deliver the proper number of beds for the order
may be delayed which translates into lost sales. Either occurrence can expose the business to
undue monetary pressure. Critical Risks, Problems, and Assumptions Be thorough in the review of all the risks, problems, and obstacles perceived to be in the path of the new venture. Identify each risk and its potential impact on the business. Will it affect personnel, product delivery, product development, and product market appeal? Address potential “show-stoppers”; why they may be considered such, and how they could be
managed. Be thorough in the review and consider some, if not all the following: o
Potential price cutting by competitors o
Unfavorable industry trends (COVID and supply chain issues/shortages) o
Design or manufacturing costs exceeding original estimates
5 Capstone Template o
Material lead-time longer than anticipated Weigh these risks placing higher weights on the most critical down to the least critical to demonstrate a stronger sense of impact. Do not take this section lightly. Be certain to do demonstrate deep critical thinking in this area. Sustainability and Impact All plans must address sustainability and impact. Every business developed has had
some impact on the economy, society, or the environment, and the CEO wants to know up-
front how the proposed venture can/will impact all these areas. Is this a one-time order or is
this a sustainable venture where E-MAGINE could start being a supplier in South America?
In addition, there is an environmental impact of possibly manufacturing overseas? E-
MAGINE has a strong reputation for being sustainable. The plant in Memphis, TN is LEED-
certified. If the venture has a favorable impact on any of the above, the chance of sustainability
is greatly increased. In keeping with this theme, think about the type of potential waste that
may be generated by the business. Will the business adequately and compliantly recycle, or
dispose of the waste it creates? Right now, the Mexico plant handles refurbished beds, how
will these be handled? Remember the language difference. Could the wheels on the bed or
other parts be used in another product that E-MAGINE offers? Often the way a company addresses these issues can create separation from its
competitors. All things being equal, if the production environment of the proposed business
proves to be a greener, more planet-friendly alternative, it could create separation from
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6 Capstone Template competitors on this element alone. Forward think on this issue and try to project future
impact on the company and product line growth. Financial Plan In this section, the proverbial “rubber meets the road”. Accurate presentation of the estimates results in increased validity of the venture. The venture viability and timetable will be on display in this section. The use of financial exhibits will be expected, and you can use your 2
nd
template to cut and paste sections right into the document. Any profit or loss forecasts would help as well, along with the income statements and balance sheets. Reference
the case study to get the 2020 numbers to put into the 2
nd
template. If you are going to retool the plant in Mexico remember to account for that! To complete the forecasting, you might have to make some assumptions. Be certain to review/discuss the assumptions made. It is imperative that a discussion be provided on the worst case, most likely, and best-case scenarios
. Recommendation
This section is your recommendation to the CEO on what E-MAGINE should do. You should summarize the pros and cons of your recommendations and what the next steps should be. It is acceptable to have some duplication here with the executive summary.
7 Capstone Template References Industry market Research, reports, and statistics
. https://www.ibisworld.com/us/bed/total-
health-expenditure/4074/.
8 Capstone Template Appendix NOTE: Appendices should be included that support the discussion within the E-MAGINE Biomedical proposal and referenced above such as financial statements, charts, diagrams, org
charts, etc.
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