Stryker Corporation is one of the largest medical technology firms in the world. The headquarter office of Stryker Corporation is located in Kalamazoo, Michigan. Stryker Corporation is ranked among the Fortune 500 companies. The company produces a wide range of products in the field of medical technology. In the US, most ofits products are marketed via personalized marketing which targets various medical practitioners and healthcare facilities. The firm management has also done an excellent job in selling its products in the international market. Statistics show that Stryker Corporation sells its products in over 100 countries through its sales branches and subsidiaries. The firm also uses third-party distributors and dealers to expand its sales volume at the international platform.

Statistics indicate that the world orthopedic products market will be valued at over $45 billion before 2020 as indicated on the graph below.

Figure 1: Graph Showing Forecast in Orthopedic Market

One of the core segments of Stryker Corporation is its orthopedics having been introduced in 1914 by Dr. Stryker. At the end of 2000, the orthopedic segment was responsible for 55% of Stryker Corporation sales (Company overview, 2018). By 2002 the Stryker Corporation orthopedic segment sales volume had reached $3 billion, and over time it has been on the increase. Stryker Corporation spends over 6% of its sales revenue on research and development every year. The increase in sales has been facilitated by the fact that Stryker Corporation focuses on stakeholders’ needs for innovative services and products (Fayol, 2016). This focus has aided Stryker Corporation to continue growing its client base every year. Some of the company’s innovative products include artificial foot, ankle, spine, joints, and craniomaxillofacial among others.

The key clients of Stryker Corporation are hospitals and physicians. This fact has over time guided the company to make its marketing techniques more personal. Customers evaluate various brands with the aim of identifying ones that satisfy them better (Fayol, 2016). As such, customers develop a deep and long-term relationship with the product which they choose (Gilligan & Lowe, 2018). Stryker Corporation is a large organization with many stakeholders who include investors, employees, customers, and project manager among others. All stakeholders are actively involved in the success story of the company’s orthopedic segment. Having loyal clients has aided Stryker Corporation to grow its revenue for 37 years consistently. This has also led to consistent growth of shareholder value as shown on the graph below.

Figure 2: A Graph Showing the Increase of Shareholders Value

Employees of Stryker Corporation orthopedic segment play a critical role in the development of quality products for that firm and marketing them globally. Stryker Corporation employs over 33000 employees in various capacities globally. In 2017, Stryker Corporation was ranked as one of the best companies by Fortune Magazine (Company overview, 2018). Company records indicate that Stryker Corporation has 43 manufacturing and research locations which are located across the world. Each research and development unit has several project managers to oversee its smooth operations (Wang, Kung & Byrd, 2018). Over time, Stryker Corporation has undertaken a wide range of successful project in its orthopedic section. These projects have played a critical role in the growth portfolio of Stryker Corporation. Statistics indicate that the company had over 5000 patents in the world as per 2016 (Company overview, 2018).

Stryker Corporation has customers who hail from various parts of the world. These clients play a critical part in motivating the firm to keep on producing more products and services. It is worth noting that clients determine the sales volume of a firm, and, thus, as per 2016, Stryker Corporation recorded over $11 billion in revenuecollection (Company overview, 2018).

References

Company overview. (2018). Retrieved from https://www.stryker.com/content/dam/stryker/about/Stryker_Company_Overview_2.pdf/subassets/page1.pdf

Fayol, H. (2016). General and industrial management.Ravenio Books.

Gilligan, C., & Lowe, R. (2018). Marketing and Healthcare Organizations.CRC Press.

SYK – Stryker Corp Stock Charts – CNNMoney.com. (2018). Retrieved from https://money.cnn.com/quote/chart/chart.html?symb=SYK

Wang, Y., Kung, L., & Byrd, T. A. (2018). Big data analytics: Understanding its capabilities and potential benefits for healthcare organizations. Technological Forecasting and Social Change, 126, 3-13.

 
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