Swot Analysis of "John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video" written by Robert S. Kaplan includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Children's Measuring facing as an external strategic factors. Some of the topics covered in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video case study are - Strategic Management Strategies, Health, Time management and Finance & Accounting.
Some of the macro environment factors that can be used to understand the John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video casestudy better are - – increasing household debt because of falling income levels, geopolitical disruptions, supply chains are disrupted by pandemic , there is increasing trade war between United States & China, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing energy prices, increasing transportation and logistics costs,
talent flight as more people leaving formal jobs, digital marketing is dominated by two big players Facebook and Google, etc
Introduction to SWOT Analysis of John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Children's Measuring, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Children's Measuring operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video can be done for the following purposes –
1. Strategic planning using facts provided in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video case study
2. Improving business portfolio management of Children's Measuring
3. Assessing feasibility of the new initiative in Finance & Accounting field.
4. Making a Finance & Accounting topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Children's Measuring
Strengths John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Children's Measuring in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video Harvard Business Review case study are -
Effective Research and Development (R&D)
– Children's Measuring has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High brand equity
– Children's Measuring has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Children's Measuring to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
High switching costs
– The high switching costs that Children's Measuring has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Analytics focus
– Children's Measuring is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Robert S. Kaplan can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Superior customer experience
– The customer experience strategy of Children's Measuring in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Highly skilled collaborators
– Children's Measuring has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Sustainable margins compare to other players in Finance & Accounting industry
– John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video firm has clearly differentiated products in the market place. This has enabled Children's Measuring to fetch slight price premium compare to the competitors in the Finance & Accounting industry. The sustainable margins have also helped Children's Measuring to invest into research and development (R&D) and innovation.
Cross disciplinary teams
– Horizontal connected teams at the Children's Measuring are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Diverse revenue streams
– Children's Measuring is present in almost all the verticals within the industry. This has provided firm in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Learning organization
- Children's Measuring is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Children's Measuring is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Successful track record of launching new products
– Children's Measuring has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Children's Measuring has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Weaknesses John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video are -
High dependence on star products
– The top 2 products and services of the firm as mentioned in the John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Children's Measuring has relatively successful track record of launching new products.
High operating costs
– Compare to the competitors, firm in the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Children's Measuring 's lucrative customers.
Skills based hiring
– The stress on hiring functional specialists at Children's Measuring has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Slow to strategic competitive environment developments
– As John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video HBR case study mentions - Children's Measuring takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Products dominated business model
– Even though Children's Measuring has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video should strive to include more intangible value offerings along with its core products and services.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Children's Measuring supply chain. Even after few cautionary changes mentioned in the HBR case study - John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Children's Measuring vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Children's Measuring is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, it seems that the employees of Children's Measuring don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, in the dynamic environment Children's Measuring has struggled to respond to the nimble upstart competition. Children's Measuring has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, is just above the industry average. Children's Measuring needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
No frontier risks strategy
– After analyzing the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, it seems that company is thinking about the frontier risks that can impact Finance & Accounting strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Opportunities John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video are -
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Children's Measuring can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Using analytics as competitive advantage
– Children's Measuring has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Children's Measuring to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Low interest rates
– Even though inflation is raising its head in most developed economies, Children's Measuring can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Manufacturing automation
– Children's Measuring can use the latest technology developments to improve its manufacturing and designing process in Finance & Accounting segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Building a culture of innovation
– managers at Children's Measuring can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Finance & Accounting segment.
Leveraging digital technologies
– Children's Measuring can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Children's Measuring to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Children's Measuring to hire the very best people irrespective of their geographical location.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Finance & Accounting industry, but it has also influenced the consumer preferences. Children's Measuring can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Children's Measuring can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Children's Measuring in the consumer business. Now Children's Measuring can target international markets with far fewer capital restrictions requirements than the existing system.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Children's Measuring can use these opportunities to build new business models that can help the communities that Children's Measuring operates in. Secondly it can use opportunities from government spending in Finance & Accounting sector.
Creating value in data economy
– The success of analytics program of Children's Measuring has opened avenues for new revenue streams for the organization in the industry. This can help Children's Measuring to build a more holistic ecosystem as suggested in the John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video case study. Children's Measuring can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Children's Measuring in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Finance & Accounting segment, and it will provide faster access to the consumers.
Threats John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video are -
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Children's Measuring.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Shortening product life cycle
– it is one of the major threat that Children's Measuring is facing in Finance & Accounting sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Regulatory challenges
– Children's Measuring needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Finance & Accounting industry regulations.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Children's Measuring in the Finance & Accounting sector and impact the bottomline of the organization.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Children's Measuring can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video .
High dependence on third party suppliers
– Children's Measuring high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Children's Measuring with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Children's Measuring business can come under increasing regulations regarding data privacy, data security, etc.
Stagnating economy with rate increase
– Children's Measuring can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Consumer confidence and its impact on Children's Measuring demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Increasing wage structure of Children's Measuring
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Children's Measuring.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Children's Measuring needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.
Weighted SWOT Analysis of John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of John G. Meara, Boston Children's Hospital, Measuring Costs, TDABC, Video is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Children's Measuring needs to make to build a sustainable competitive advantage.