Medtronic Medical Device Company. Introduction: Medtronic medical device company is an Irish company and the headquartered in Dublin, Ireland. Which the operational headquarters is centered in Fridley, Minnesota, USA. Medtronic is the world's largest standalone medical technology development company. Medtronic was founded in 1949 in northeast Minneapolis by Earl Bakken and his brother-in-law Palmer Hermundslie as a medical equipment repair shop. The Mission was grounded in their personal integrity and passion for giving help to people. Earl, whose curiosity, vision, and problem-solving nature led optimism, determination, and sacrifice kept this company going, often with his own money through the toughest of times. The company expanded through the 1950s, mostly selling equipment built by other companies, but also developing some custom devices. Bakken built a small transistorized pacemaker that could be strapped to the body and powered by batteries. Work into this new field continued, producing an implantable pacemaker in 1960. It built a headquarters in the Minneapolis suburb of St. Anthony early 1960's and moved to Fridley in the 1970s. Medtronic is a global leader in medical technology, redefining how technology is used in the management of chronic disease. Their understanding of human physiology yields a range of therapies that are transforming the treatment of chronic conditions including heart and vascular diseases, diabetes, neurological disorders, and spinal conditions, for more than 7 million patients worldwide each year to the invention of a medical miracle in 1957. Palmer, whose Medtronic's best-known products include implantable pacemakers and cardioverter-defibrillators (ICDs), heart stents and valves, spinal discs, insulin pumps and continuous glucose monitoring systems, deep brain stimulation, neurostimulation for chronic pain, and remote monitoring and diagnostic products for chronic disease management. In the fiscal year 2010, Medtronic introduced a corporate organizational structure comprised of two operating groups. The first brings Cardiac Rhythm Disease Management (CRDM), CardioVascular and PhysioControl together as Cardiac and Vascular Group. The second groups Spinal and Biologics, Neuromodulation, Diabetes, and Surgical Technologies into Restorative Therapies Group. During the fiscal year 2010, Medtronic had strong market-leading performance. Revenue grew 8 percent over the fiscal year 2009 to $15.817 billion, and net earnings grew 50 percent to $3.099 billion. International revenue grew to $6.451 billion, up 15 percent over the prior fiscal year, and represented 41 percent of total company revenues. And Medtronic has to accelerate global growth and reach millions more patients around the world. For a detailed description of their financial performance. In June 2014, Medtronic announced its acquisition of COVIDIEN PLC of Ireland for $42.9 billion in cash and stock. This was the largest acquisition in its history. Following the acquisition, Medtronic ceased to be a Minnesota-based company, moving its headquarters to low-tax Ireland, allowing it to avoid taxation on more than $14 billion held overseas. In 2015, Medtronic's market cap was about $100 billion. Medtronic operates in more than 160 countries, and the company employs over 85,000 people around the world. Company's corporate culture- value corporate responsiblity. In Medtronic. The actions and decisions of employees at every level are deeply rooted in their quest to alleviate pain, restore health, and extend life for humans. In Medtronic their work changes lives. Each year, nearly 10 million people benefit from their therapies. The Medtronic mission is a powerful motivator, driving the company to continually pioneer new technologies, new therapies, and new ways to manage chronic diseases. The result is an innovative culture where passionate people are encouraged and flourish. If your job search ends at Medtronic, you will find yourself collaborating with some of the brightest minds in the healthcare industry in more than 120 countries where the company does business. Good benefits and good programs for onboarding and training. Their mission so indelibly linked to the welfare of people, the employees of Medtronic have always felt a deep sense of moral purpose and responsibility. Over the years, they have formalized that responsibility through policies and programs that help them hold each other accountable, and demonstrate their commitment to their many stakeholders. Medtronic, provide equal employment opportunity to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, gender, gender identity, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic provides reasonable accommodations for qualified individuals with disabilities. Strength of Medtronic Strong management can help Medtronic reach its potential by utilizing strengths and eliminating weaknesses in the international medical device industry. Economies of scale are the cost advantages that Medtronic obtains due to size. A strong brand name is a major strength of Medtronic. This gives Medtronic the ability to charge higher prices for their products because consumers place additional value in the brand. Size advantages lower Medtronic's risks. The larger Medtronic gets, the more resources they have to pursue new markets and defend themselves against rivals. A strong supply chain helps Medtronic obtain the right resources from suppliers and deliver the right product to customers in a timely manner. The weakness of Medtronic. Competition In Drugs and medical device supply has a significant impact, so the company should put more weight into it. Weak research and development can slow Medtronic's growth as competitors out to innovate Medtronic. A weak supply chain can delay the arrival of products to Medtronic's customers. Unnecessary delays can hurt Medtronic over the long run because customers will cancel orders. A product recall often can tarnish brand image. Opportunities of Medtronic. Their new services help them to better meet their customer's needs. These services can expand Medtronic's business and diversify their customer base. New technology helps Medtronic to better meet their customer's needs with new and improved products and services. Technology also builds competitive barriers against rivals. Greater innovation helps Medtronic to produce unique products and services that meet customer's needs. Emerging markets are fast growing regions of the world that enable Medtronic to quickly expand. The international markets also offer Medtronic new opportunities to expand the business and increase sales worldwide. Treat of Medtronic. Strained currencies make Medtronic's investments difficult because costs and revenues can change so rapidly. An intense completion can lower Medtronic's profits because competitors can entice consumers away with superior products. Markets are competitive. In order for Medtronic to grow in a mature market, it has to increase market share, which is always difficult and expensive. The availability of substitute products can hurt Medtronic's ability to raise prices because customers can easily switch to another product or service. I also believe that politics can increase Medtronic's risk factors because governments can quickly change business rules that can negatively affect Medtronic's business. Medtronic company organizational structure. Medtronic has an efficient and strong organizational structure. Medtronic appears to operate under a combination of a functional and divisional organizational structure. I say a combination of these two structures because it is obvious that there is a clear separation between Medtronic's their marketing departments and their research and development departments. At the same time, I find it highly likely that Medtronic operates under a divisional structure because Medtronic has a wide variety of products that they offer in different markets around the world. For example, Medtronic has different teams around the world that provide specific product needs for different geographical areas. I think if I had to choose one specific organizational structure I would have to say divisional simply because different products have to be marketed and managed in precise ways. I like to believe that Medtronic allows their engineers and developers to decide how certain products should be handled. How the employee is motivated in Medtronic. They employees care a great deal about their job and take a great deal of pride in what they do. Medtronic's stated goal to help to restore their users to full life, which is a goal that motivates their employees better than anything else. Medtronic also offers a financial program with employee matching funds and a stock purchase program, which allows the workers to buy Medtronic stock at a 15% discount. There is also a profit-sharing plan which contributes somewhere between 2.5 to 4 percent of their income per year depending on company performance. For outstanding performers, awards, and bonuses are also given. Medtronic offers 100% tuition repayment of amount spent to encourage continuing education. I think Medtronic is a very good place to work, not only because of the positive environment but primarily because of the end result: patients who have been restored to a fuller life. Moreover, there is a strong emphasis on meeting with customers and understanding their desires and needs in life after full recovery. In Conclusion. I will say Medtronic, offer people second chance to life in regards of their health medical devices that contribute to human's health, Medtronic can become one of the richest medical company in the history of mankind and with this in mind I recommend that Medtronic is a solid company in the healthcare service sector and against the likes of his industry peer. There are also uncertainties that the company continues to increase revenues and grow through either its own research and development or through an acquisition of others. In bent to the company, Medtronic establishment and has a track record of steady success. And the company, values, mission, and experience made the company a good place to work. References: https://www.linkedin.com/company/medtronic. Arthur D. 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