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Essay / Research Paper Abstract
This 8 page paper looks at the laboratory services company Quest Diagnostics and discusses the changes it had to make due to changes in the environment and increased competition. The paper examines the acquisition strategy that the company has followed since 2006. The bibliography cites 7 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEquestdiag.rtf
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Unformatted sample text from the term paper:
commercial buyers placing pressures on suppliers to reduce costs. Quest Diagnostics has suffered due to this increased competition, specifically with the loss of the UNH contract which accounted for 7%
of revenues. The potential threat was much greater than the single contract due to the ongoing pressures. The strategic response has been to
invest in related diversification, mostly horizontal in nature. This is expanding the business as well as increasing the potential for economies in scope and scale and reduce seeing the power
of any single customer. The acquisitions have been successful and integration has demonstrated a high level of commitment to the growth strategy. The benefits are beginning to be realised and
are shown in the second quarterly results for 2007, which despite losing contracts shows an increase in both revenues and profit. The acquisition strategy may be seen as brave, it
has taken a great deal of capital and the lead period is long, but this ongoing strategy appears to be yielding results. Text Quest Diagnostics is a company
providing clinical laboratory services. This international company, which also has operations in Mexico and England, is based in the United States. In the US Quest Diagnostics is a leading provider
of diagnostic testing services and information serving in excess of hundred and 140 million patients every year. Employing about 39,000 staff and operating 33 laboratories most of which are in
the United States this is a company that has high overheads and a large customer base. It is also a company that is working in a highly competitive and dynamic
commercial environment; there are many pressures for change, the development of new technology, the financial pressures from customers altering supplier relationships and increased levels of competition due to structure and
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