Mission, vision, goals, objectives, strategies and tactics
Discuss about the Augmented Reality in Education and Training.
Healthcare sector is a rapidly developing sector in Australia and integration of Augmented Reality (AR) along with Virtual Reality (VR) has led to further development (Lee, 2012). Federal Government in the country are making huge amounts of investment for improving quality of healthcare by providing benefits of AR and VR. The scope of this current study deals with establishing a healthcare firm in Sydney in Australia with enabled technology of VR and AR (Banerjee, 2007).
It has already been diagnosed that VR and AR have huge potential for driving efficient healthcare practices that can drive quality patient experience. The current business will be integrating AR and VR related technologies in patient diagnosis (Di Serio, 2013). There are multiple impacts that AR and VR related technologies that will be included in product features for the firm. This study includes short term strategies along with long-term strategies with cost benefit analysis included.
Several benefits of VR and AR technologies that benefit healthcare in Australia. The firm will develop strategies for its Minimal Viable Product MVP that matches with business model canvas (Alaraj, 2013). Short term strategies will aim at a product roadmap that will aim to launch MVP along with studying the product and establishing its validity while long term strategy will aim at developing further product features such as to generate a viable business model.
The newly established firm in the short term will aim at a MVP that is readily acceptable according to customer demands. Initial strategic fit for the firm will aim at diagnosis for patients, physical therapy and pain management treatment (Zhu, 2014). The healthcare center will aim to start-up its business by attracting it customers to only testing, therapy and pain management procedure. The firm with encompasses on customer demographic, psychographic and geographic trend have realized that there is a need for testing procedure in the area for AR and VR integrated instruments. Hence, marketing endeavors of the Company will aim at MVP of lab testing equipment with latest technology for validating their products (Kilmon, 2010).
Mission: The primary mission of the firm will be to cater to highest possible levels in testing procedures.
Vision: The vision of the firm will be focused on creating an unique interface to provide readily acceptable and fast paced delivery of medical reports.
Goals: Goals of the Company are focused on creation profitability, employee engagement and customer engagement.
Cost Benefit Analysis
Objectives: Primary objective for the firm includes VR and AR technologies application in various medical equipment.
Strategies: Strategies for the firm will be to attract customers towards quality healthcare by providing them fast paced affordable medical reports.
Tactics: Tactics that will be implemented by the Company will be to develop better digital impression for medical treatment.
The study will encompass Null Hypothesis (H0) and Alternate Hypothesis (H1) for establishing results of the study. Null Hypothesis (H0) in this case will include AR and VR applicability will not be able to render quality treatment to patient parties. Alternate Hypothesis (H1) will include
VR and AR applicability will affect lives of patients and improve their quality of healthcare (Yuen, 2011).
AR and VR techniques integrated into Cost Benefit Analysis for short term purposes for estimating a proper budget. Benefits with costs for shorter term endeavors are included in this analysis (Yudkowsky, 2013). A period of 1 year has been estimated as short term for this study and analysed monthly for assessing outcomes. All the months costs includes costs related development of MVP.
|
Month |
Cost |
Benefit |
|
January |
60,000 |
300,000 |
|
February |
70,000 |
110,000 |
|
March |
105,000 |
250,000 |
|
April |
90,000 |
450,000 |
|
May |
50,000 |
650,000 |
|
June |
40,000 |
700,000 |
|
July |
80,000 |
500,000 |
|
August |
110,000 |
750,000 |
|
September |
150,000 |
800,000 |
|
October |
40,000 |
360,000 |
|
November |
70,000 |
410,000 |
|
December |
140,000 |
900,000 |
Figure 2: Short-term Cost Benefit Analysis
Source: Author
Post establishing the business of the firm within 1 year with its strategic fit, the firm will develop long-term based strategy to iterate products. It will aim at developing additional product features with which it will be able to develop the business model extension and create viability for it (Willaert, 2012). Feasibility for the business model will be built by way of integrating more enhanced technological adaptation. Long-term strategy for the firm will be making use of VR and AR technologies to not only cater to patient are and therapy but also in integrating psychology related treatment. This new product extension will allow validating the product and encompassing more feasibility approach towards its products and the business (Billinghurst, 2012).
Mission: The firm will encompass mission of catering to wholesome patient care in the long term.
Vision: Vision of the firm will be oriented towards catering to innovative and technologically advanced healthcare facilities for patient diagnosis.
Goals: The firm will be focused on attaining high levels of complicated products for rendering to healthcare for patients.
Objectives: The firm’s objective will be focused on creating a sustainable brand name in the domain of healthcare. Objective for the firm will be to extend AR and VR related application in patient care.
Strategies: The firm will be adopting competitive led strategy for extending its core competency. Strategy for the firm will be to adapt latest medical treatment utilizing VR and AR techniques.
Longer Term Strategy to iterate the product with additional features and to develop a viable business model
Tactics: The firm will include various tactics in order to deliver medical diagnosis using AR and VR technology along with providing therapies.
The study will adopt Null Hypothesis (H0) and Alternate Hypothesis (H1). In the long term the Null Hypothesis will aim at establishing innovation trends impacting heath care cannot affect lives of patient care. Alternate Hypothesis will aim at creating greater impacts of innovative trends in health care for patient care (Kim, 2009).
In order to integrate innovate trends in the long term for product development using VR and AR technologies there will be costs associated. The costs against its associated benefits will be reflected in CBA analysis as depicted below for a five term period, which is considered long term for this purpose (Botella, 2010).
|
Month |
Cost |
Benefit |
|
Year 1 |
1,300,000 |
3,100,000 |
|
Year 2 |
500,000 |
2,500,000 |
|
Year 3 |
1,800,000 |
5,000,000 |
|
Year 4 |
600,000 |
1,500,000 |
|
Year 5 |
1,700,000 |
7,000,000 |
|
Year 6 |
800,000 |
5,000,000 |
|
Year 7 |
2,900,000 |
9,000,000 |
|
Year 8 |
400,000 |
1,900,000 |
|
Year 9 |
900,000 |
3,500,000 |
|
Year 10 |
1,100,000 |
4,200,000 |
Figure 3: Long-Term Cost Benefit Analysis
Source: Author
Product Roadmap is critical for success for any product. From starting point of launch of the product till its delivery process (Hernando, 2009). There are lot of traditional VR and AR integrated products available in the market, but the firm will aim to produce products that can render highest possible levels of medical treatment. In the first phase of the product, it will be designed by innovative product designers and then its market fit will be created. A product that fits customer demand will find greater success compared to those products that cannot find any market fit. Frequently the firm will aim at collecting customer related data and then process the same for higher levels of innovations (Noh, 2009).
|
Short Term Strategy |
Long Term Strategy |
|||||||||||
|
2018 |
Q1 |
Q2 |
Q3 |
Q4 |
||||||||
|
Jan |
Feb |
Mar |
Apr |
May |
June |
July |
August |
September |
October |
November |
December |
|
|
Product Development |
Idea Launch |
Product Development |
Integration with VR |
Integration with AR |
Product Delivery |
|||||||
|
Marketing |
Competitive Strategic Inputs |
Customer Analysis |
Marketing and Idea Building |
Advertising |
||||||||
|
Technology |
AR Integration |
VR Integration |
Technological Updation |
Figure 4: Product Road Map
Source: Author
In order to cater to greater benefits for patients a therapy product and later a product that can be used to treat psychological ailments will be established (Scott, 2009). AR and VR in the firm’s domain can create greater impact on the brand name of the firm and therapy related medical instruments will help attract broader spectrum of patients.
Virtual Reality and Augmented Reality are creating new possibilities in the domain of medical sciences. AR software that will be used by the firm will be mobile responsive will reduce service related calls in medical labs. Smart glasses that makes use of VR technologies can enable technicians in medical profession can bring tremendous benefits n patient care. There are various companies that are developing machines for providing physical therapy for benefit of patients (Bohil, 2011). Omnidirectional treadmill is one such instrument that has immense demand in the market combined with virtual reality headsets can bring about improving patient’s with Parkinson’s Disease. There are recent trends showing treadmills with VR games that involve individuals while working on treadmills. The firm will make provisions such that in-flight medical emergencies can be managed effectively. AR software are increasingly devised that allows ER doctor to connect by means of satellite to guide an individual wearing ODG R-7 smart glasses instruction aid. Pain management treatment is a relatively new idea in Australian healthcare and creates tremendous impact for burn victims. Through VR techniques the firm will aim at solving virtual meditative talk. Vibrating footpads along with virtual beach environment as if an individual is sitting next to an ocean. Testing visual aid devices will further enable more enhanced treatment to take tests using medical devices.
Conclusion
The firm will act in an aggressive manner and fashion to create market share to cater to better standards in patient healthcare. Recommendations for the future for the firm will enable more competitive building with capacities to extend core competencies such as to create future sustainable impact.
- The firm will need to design and manufacture it products at a comparatively lower rates, such that it is ultimately cost affordable in nature. Such cost effective products will attract greater number of customers.
- The company will need to adopt innovative practices such that it can constantly create and contribute new products to the market.
- The firm will need to patent all its projects and productions such that it is able to protect the newly developed technology. Providing patent related rights can let to a stream of financial benefits for the firm as well.
- The firm will need to adopt a constant quality improvisation technique as Six Sigma or lean process manufacturing such that it is able to cater to continuous process improvement.
- Products and features provided by the Company to its various patients’ needs to be rapid, to enhance quality of care. Employees needs to be trained in a continuous process such that they are able to operate the apparatus in an effective manner at a cost effective rates.
- The firm needs to incorporate employee engagement processes and procedure to motivate its employees. Such endeavors will allow the Company to cater to their patients in a better manner.
Reference Lists
Alaraj, A. C. 2013. Role of cranial and spinal virtual and augmented reality simulation using immersive touch modules in neurosurgical training. Neurosurgery, A115-A123.
Banerjee, P. P. 2007. Accuracy of ventriculostomy catheter placement using a head-and hand-tracked high-resolution virtual reality simulator with haptic feedback.
Billinghurst, M. &. 2012. Augmented reality in the classroom. Computer, 56-63.
Bohil, C. J. 2011. Virtual reality in neuroscience research and therapy. Nature Reviews. Neuroscience, 752.
Botella, C. B.-L.-P. 2010. Treating cockroach phobia with augmented reality. Behavior Therapy, 401-413.
Di Serio, Á. I. 2013. Impact of an augmented reality system on students’ motivation for a visual art course. Computers & Education, 586-596.
Hernando, E. S.-E.-I. 2009. A critical role for choline kinase-α in the aggressiveness of bladder carcinomas. Oncogene, 2425-2435.
Kilmon, C. A. 2010. Immersive virtual reality simulations in nursing education. Nursing education perspectives, 314-317.
Kim, J. H. 2009. Use of virtual reality to enhance balance and ambulation in chronic stroke: a double-blind, randomized controlled study. . American Journal of physical medicine & rehabilitation, 693-701.
Lee, K. 2012. Augmented reality in education and training. TechTrends, 13-21.
Noh, Z. S. 2009. A review on augmented reality for virtual heritage system. In International Conference on Technologies for E-Learning and Digital Entertainment (pp. 50-61). Springer, Berlin, Heidelberg, 50-61.
Scott, K. H. 2009. U.S. Patent Application No. 12/478. 526.
strategyand.pwc. (Retrieved on 3rd October 2017). Trends in Australia’s healthcare . https://www.strategyand.pwc.com/reports/australias-healthcare-system.
Willaert, W. I. 2012. Recent advancements in medical simulation: patient-specific virtual reality simulation. World journal of surgery, 1703-1712.
Yudkowsky, R. L. 2013. Practice on an augmented reality/haptic simulator and library of virtual brains improves residents’ ability to perform a ventriculostomy. Simulation in Healthcare, 25-31.
Yuen, S. C. 2011. Augmented reality: An overview and five directions for AR in education. Journal of Educational Technology Development and Exchange (JETDE), 11.
Zhu, E. H. 2014. Augmented reality in healthcare education: an integrative review. PeerJ, e469.
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