Whilemost types of industries have continued thriving various factors suchas economic situation, loyalty and globalization have continuallydetermined the success of the industry[ CITATION Por11 l 2057 ].While an industry may have a booming business but for a short while,others may enjoy the profitability for a bit longer while others maythrive for the longest time possible. This differentiates thecompanies that enjoy not much interrupted business over short term,medium term and long term[ CITATION Glu80 l 2057 ].The factor is dependent on the period of time that the industry’ sproducts or services are in demand, and the ease with which thecustomers can shift their allegiance to other products serving thesame purpose or even the same products or services being provided bya competitor.The effects of globalization may also determine the ease at which aconsumer can change the preference for the products or services. Aless globalized service serves as an added advantage due to the kindof restriction and limitation put in place in regards to the ease atwhich an alternative can be acquired.
Inthis regard, financial institutions tend to perform better in mediumand long term as compared to most of the other industries. First, thelevel at which globalization has affected the institution does nothave much effect on client loyalty, unlike in industries such astelecom and technology and consumer goods. Technology is highlydynamic and as such, it moves with peak times and when furtherinnovations are done, the loyalty shifts the new trend[ CITATION Tee10 l 2057 ].The same happens to consumer goods, and which has been adverselyaffected by globalization due to online shopping and other trends[ CITATION Tee86 l 2057 ].The industry’s pattern becomes quite unpredictable and as such, itsperformance may be very high but for a limited time.
Thefinancial sectors such as banks have not been affected as such byglobalization and the main factor has been that of quality ofservices and financial rates offered. The preference is thereforedetermined the ease of transaction, financial rates and theconfidence and image created by the specific institutions. As such,the performance is pegged on client loyalty. In this regard, theperformance is likely to be persistent rather than seasonal. In asmuch as the performance at short run may not be that admirable, itsmedium and long term performance is anticipated to be quite high ascompared to the rest of the industries. This explains why a freshfinancial institution is likely to take a little longer to achieveits peak as compared to other industries such as technology orconsumer goods. On the contrary, these industries may take a veryshort time to off-peak, but again go down the curve within a veryshort period of time.
Thetelecoms and technology sector is likely to experience the leastperformance at long-run. Despite the statistics showing thattechnology sector is one of the booming sectors, an individualcompany may not enjoy high performance at long run. The industry ismarked by rampant changes and innovations every other day. Thedynamic situation of the telecoms and technology sector calls for ahigh rate of innovativeness. Despite the innovations, the field istoo large and what may be the talk of the town today may becomehistory tomorrow and passed by the times[ CITATION Kha13 l 2057 ].This way, an innovation is on high demand at the exact time but aninnovation meant to supplement the same product or service may renderthe previous innovation less helpful and as such, the performance islikely to dive. This gives a clear explanation as to whytechnological institutions may thrive well for a short time andlater, new giants emerge in the sector and which are also overtakenby other emergingcompanies later on depending on the level of innovation and productor service positioning.
Nosingle sector can be referred to be inherently profitable as theprofitability of a firm is pegged on a number of factors, strategyand innovation being the major ones[CITATION Por801 l 2057 ].As such, a particular firm in a certain industry may be profitablewhile a different one in the same sector is on the verge of itscollapse. For instance, it is not guaranteed that inferior-productsretailers will have good sales during recession. A good example isSears, and which really suffered during the recent recessions whileothers were enjoying the season at a booming business[CITATION Mha l 2057 ].
Iwould recommend to my strategy team that we deal with the strategy ofthe health care sector. This is because it is one of the sectorswhose performance is pegged on how well the strategies are put inplace and their implementation[ CITATION Kay01 l 2057 ].
Evenamongst the sectors that are performing well, it is not obvious thata firm in the respective industry will perform. This is because theperformance is dependent on the strategies that were put into placeat the time the firm was established and how well it has continued todeal with the competition issues[ CITATION Dix91 l 2057 ].
Someof these factors include entry strategy, competition strategy andinnovation. With the employment of varying strategies, theperformance is expected to be different. This explains why a companywill fall while its competitors are thriving quite well in the samemarket. The strategy is instrumental in dictating the marketpositioning which consequently determines the success or failure ofthe venture.
Inmy recommendation, I would opt for any health care facility in theUnited States and which has not extended its services to othercountries. This way, it will be easier to plan for performancestrategies as well as expansion strategies[ CITATION Riz10 l 2057 ].
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