Specific recommended strategy and long-term objectives
There are two key components to Cantel Medicals current strategy that subject them to a
number of risks. Their strategies include the acquisition of new businesses and product lines as
well as establishing leadership in their international markets. Unfortunately there are many risk
factors involved. For the purpose of this report I will provide two examples. First, they have
limited operating experience and market recognition in new international markets, which may
limit their international expansion strategy and cause their international return on investments
and growth to suffer. Second, competition from lower cost manufacturing facilities such as those
located in China, Southeast Asia and certain locations within North America could result in a
reduction in our net sales of healthcare disposable products due to reduced average selling prices
or our customers no longer purchasing certain products from us.
A successful strategy moving forward should include ways to mitigate these issues if at
all possible but also it should focus on the factors that are required in order to for Cantel Medical
to be successful. These factors include identifying and acquiring appropriate products and
businesses, obtaining favorable or acceptable financing, integrating the acquired operations,
personnel, products, technologies and regulatory procedures into their organization effectively,
retaining and motivating key personnel and retaining the customers and suppliers of acquired
companies, realizing perceived synergies and successfully promoting and increasing sales and
profits of acquired product lines (Cantel, 2017).
The specific strategy that I propose to help carry Cantel Medical forward and help
combat these risk factors is to increase and improve their talent pool. Their success is dependent
to a significant degree upon the efforts of key members of their management and in large part on
their ability to attract and retain highly qualified scientific, technical, sales, marketing and other
personnel. They need someone who is familiar with international markets in order to protect their
acquisition investments. In addition, a talented marketer could help combat the competition
coming from China and Southeast Asia due to their lower priced yet inferior products. Ultimately
the long-term objectives are to hire highly qualified personnel and integrate them into the
organization. Create employee incentives that will greatly minimize attrition. The cost of this
plan is estimated to cost roughly $1.5 million. With just an increased expansion in foreign
markets and increased ability to compete with competitor products Cantel Medical should be
able to recoup the $1.5 million and realize a 200% return on investment in the next 5 years.
Appendix A
Cantel Medical Action Plan
GOAL 1
Hire Talented Personnel
Action Step
Responsible
Party
Start Date
Due Date
Resources
Required
Desired
Outcome
Notes
Define the
position and
target
candidate
Human
Resources
3/12/18
3/31/18
Input from
presidents
of each Unit
Create a clear
understandin
g of what we
are searching
for and the
job they will
fulfill
Post the job,
screen
resumes and
conduct
interviews
Human
Resources
4/1/18
9/30/18
Job
description
employee
criteria
Create a pool
of highly
qualified
candidates
Select
candidates,
Make offer,
Hire
Human
Resources
10/1/18
12/31/18
Budget,
Office space
Hire talented
personnel
GOAL 2
Integrate Employees Into The Organization
Action Step
Responsible
Party
Start Date
Due Date
Resources
Required
Desired
Outcome
Notes
Initial
orientation
Managers
and
supervisor
1/7/19
1/7/19
Corporate
literature
Educate
employee on
culture,
values and
expectations
Initial week
Managers
and
supervisor
1/7/19
1/11/19
Employee
time
Introduce
member to
leadership
team,
employees
and work
schedule.
Meetings etc.
Initial 90
days
Managers
and
Supervisor
1/7/19
4/10/19
Time
Brainstorm
the different
methods by
which the
employee’s
strengths can
step up
company
growth
GOAL 3
Create Incentives
Action Step
Responsible
Party
Start Date
Due Date
Resources
Required
Desired
Outcome
Notes
Develop
business
objectives
and metrics
Management
, Human
Resources,
Finance Staff
3/12/18
3/31/18
Staff
Determine
the metrics
by which
incentives
will be based
off of
Determine
appropriate
employee
benefits
Management
, Human
Resources
3/12/18
4/30/18
Surveys
Determine
which
benefits are
wanted and
appropriate.
Avoid costly
benefits
invaluable to
the employee
Implement
benefits and
incentives
Management
, Human
Resources,
Finance Staff
5/1/18
5/31/18
Time,
employees,
bulletin
boards,
email
Improve
retention,
increase
employee
loyalty and
motivation
Cantel Medical 2017 Annual Report. (2017). Retrieved March 5, 2018, from
https://static1.squarespace.com/static/57b218106a4963f7fac2b8ab/t/5a218401e4966b7825d85b5
5/1512145923660/Annual Report FY 2017.pdf.
