CLOSING CASE Advanced Biomedical Devices: Assessing Readiness to Export Dr. Richard Bentley, a well-known British surgeon who developed a success. Following a series of meetings, the team reached consensus medical device that helps the wound-healing process, was so com- on the following key elements of ABD's initial strategic direction mitted to the groundbreaking technology that he left his surgical practice to found Advanced Biomedical Devices, Inc. (ABD). ABD is Senior management will strongly commit to internationaliza- headquartered in the eastern United States. ABD plans to initiate tion, and ABD will pursue foreign markets aggressively. The exporting activities and just completed the process of assessing its firm will hire a vice president for international sales in the readiness, using CORE (COmpany Readiness to Export). coming year. ABD's product line indudes several innovative devices called ABD will invest up to 20 percent of company earnings in Speedheal that promote healing and reduce postsurgical pain by export opportunities. keeping the wound area from swelling. Speedheal oxygenates the ABD will begin building distributor relationships in a number of countries wound area by pulsing electrons through the bandage covering the wound. The devices are very small and portable Versions exist ABD will establish a marketing subsidiary in at least one foreign for different types of surgeries, hand surgery, face lifts, abdominal location within three to five years and hire salespeople who procedures, and so on. select and manage the distributors in their market area. Dr. Bentley launched ABD with a skillful management team Management will seek to ensure that all international ventures whose members have worked extensively in the European market, reach profitability within two years of their launch. the Pacific Rim, and Latin America. ABD's manufacturing director is Management will develop international marketing plans for from Germany, and another manager lived in France and Malaysia each target market, each with its own budget. for several years. Plans call for international sales to reach 35 percent of total Thanks to high demand, Speedheal sales increased rapidly, Sales within four years primarily through medical product distributors that sold to hospitals ABD will establish an annual budget of $220,000 to finance and clinics throughout the United States. Growth approached 20 international activities for each of the first three years. Of percent in some years, and the staff grew to 85 people. The firm's that, about $60,000 will be devoted to market research success stimulated the entry of competitors offering similar prod- to determine the best target markets and understand ucts, but rivals never achieved the degree of miniaturization in ABD'S competitors. products. Miniaturization thus remains one of Speedheal's competi- tive advantages. Management's projections for ABD's future growth Product Readiness for Export CLOSING CASE Advanced Biomedical Devices: Assessing Readiness to Export Dr. Richard Bentley, a well-known British surgeon who developed a success. Following a series of meetings, the team reached consensus medical device that helps the wound-healing process, was so com- on the following key elements of ABD's initial strategic direction mitted to the groundbreaking technology that he left his surgical practice to found Advanced Biomedical Devices, Inc. (ABD). ABD is Senior management will strongly commit to internationaliza- headquartered in the eastern United States. ABD plans to initiate tion, and ABD will pursue foreign markets aggressively. The exporting activities and just completed the process of assessing its firm will hire a vice president for international sales in the readiness, using CORE (COmpany Readiness to Export). coming year. ABD's product line indudes several innovative devices called ABD will invest up to 20 percent of company earnings in Speedheal that promote healing and reduce postsurgical pain by export opportunities. keeping the wound area from swelling. Speedheal oxygenates the ABD will begin building distributor relationships in a number of countries wound area by pulsing electrons through the bandage covering the wound. The devices are very small and portable Versions exist ABD will establish a marketing subsidiary in at least one foreign for different types of surgeries, hand surgery, face lifts, abdominal location within three to five years and hire salespeople who procedures, and so on. select and manage the distributors in their market area. Dr. Bentley launched ABD with a skillful management team Management will seek to ensure that all international ventures whose members have worked extensively in the European market, reach profitability within two years of their launch. the Pacific Rim, and Latin America. ABD's manufacturing director is Management will develop international marketing plans for from Germany, and another manager lived in France and Malaysia each target market, each with its own budget. for several years. Plans call for international sales to reach 35 percent of total Thanks to high demand, Speedheal sales increased rapidly, Sales within four years primarily through medical product distributors that sold to hospitals ABD will establish an annual budget of $220,000 to finance and clinics throughout the United States. Growth approached 20 international activities for each of the first three years. Of percent in some years, and the staff grew to 85 people. The firm's that, about $60,000 will be devoted to market research success stimulated the entry of competitors offering similar prod- to determine the best target markets and understand ucts, but rivals never achieved the degree of miniaturization in ABD'S competitors. products. Miniaturization thus remains one of Speedheal's competi- tive advantages. Management's projections for ABD's future growth Product Readiness for Export