THERANOS ENTERPRISE: PIVOTING CONSUMER HEALTH CARE Harvard Case Solution & Analysis

The Ranos Enterprise Pivoting Consumer Health Care Case Study Solution

Introduction:
The ranos is a name of medical diagnostic startup company that was made with the purpose of serving the patients suffering from blood related problems. It was established by Elizabeth Holmes when she was 19 and was working on detecting the viruses and when she successfully done her job she was then supposed to invent the blood-testing device. It is designed with the purpose of helping the reduction of diseases that patients are suffering from. This enterprise was established in Palo Alto, California (USA). Blood-testing device named Edison was invented to offer various services to the patients and it was approved by food and drug administration. This device was established to detect the blood virus that causes harm to the people. This enterprise has shared the all valuable information regarding the technology, procedures, test and method with the Food and Drug Administration and received the approval of serving the people with the best means of providing them health care.

The ranos enterprise had a vast vision and they added core values in their vision statement which claims that it will provide devices that will not harm the patients when extracting blood, use the technology to avoid maximum number of errors that cannot be reduced through manual working, focused on working more efficiently and last but not the least company was intended to provide the services with every class.

Disruptive(Radical) Innovation:
The Theranos Enterprise considered to adopt radical innovation in providing the services through advanced machines and testing devices. The company was supposed to serve the harmed people through the easiest way. The radical innovation is the innovation that can explore the technological advancement and can help in completing work efficiently. It will help in generation of revenues and increase return on investment, this sort of technology also gives tough competition in market.

The ranos Enterprise took initiative to adopt the radical innovation in order to serve the maximum patients in minimum time, to face the challenging problem and to compete in the market. Increasing performance and reducing cost were also the reasons of adopting radical innovation.

The ranos enterprise adopted rare technology because of its number of motives that company had. They were addressing various medical problems that could not be solved through existing testing devices. For serving the greater number of patients, and adopting various currently held knowledge and resources the radical innovation was required to be accepted. This invention was quite dissimilar from previous blood testing devices. The ranos enterprise invented Nanotainer device that will extract the blood from patients’ finger very gently and this device was required to extract the little drop of blood that would be enough to test the blood of patient and find the problem.

THERANOS ENTERPRISE PIVOTING CONSUMER HEALTH CARE Harvard Case Solution & Analysis

They tried to focus on presenting a result that can be read and understand easily. They also tried to reduce the cost of testing the patients.

Relevance of Technology Adoption Life cycle of The ranos:

The ranos technology innovation has never been rejected or refused by food and drug administrator. The enterprise was very cautious about the health issue of patients, the problems they are facing and the diseases they are suffering from.

As we can see in diagram there are five segments in which technology adoption life cycle is divided the first one is innovators who tend to accept the innovative change very firstly,they are high risk takers. The ranos was trying to invent the devices that will help in making the work easy and will consume less time also they were analyzing about various devices in their laboratories to find the solution they were seeking to get the answer including Nanotainer performing a function of performing number of tests by extracting only a 1-2 drops of blood (Loria, 2015)................

This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.

Other Similar Case Solutions like

THERANOS ENTERPRISE: PIVOTING CONSUMER HEALTH CARE

Share This