Swot Analysis of "Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update" written by Michael Beer, Alistair D. Williamson includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that D1 Resource facing as an external strategic factors. Some of the topics covered in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update case study are - Strategic Management Strategies, Strategy and Organizational Development.
Some of the macro environment factors that can be used to understand the Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, challanges to central banks by blockchain based private currencies, geopolitical disruptions, technology disruption, there is backlash against globalization, supply chains are disrupted by pandemic , digital marketing is dominated by two big players Facebook and Google,
increasing inequality as vast percentage of new income is going to the top 1%, there is increasing trade war between United States & China, etc
Introduction to SWOT Analysis of Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the D1 Resource, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which D1 Resource 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update can be done for the following purposes –
1. Strategic planning using facts provided in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update case study
2. Improving business portfolio management of D1 Resource
3. Assessing feasibility of the new initiative in Organizational Development field.
4. Making a Organizational Development topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of D1 Resource
Strengths Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of D1 Resource in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update Harvard Business Review case study are -
Digital Transformation in Organizational Development segment
- digital transformation varies from industry to industry. For D1 Resource digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. D1 Resource has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Ability to recruit top talent
– D1 Resource is one of the leading recruiters in the industry. Managers in the Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Cross disciplinary teams
– Horizontal connected teams at the D1 Resource 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.
High switching costs
– The high switching costs that D1 Resource 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.
Diverse revenue streams
– D1 Resource is present in almost all the verticals within the industry. This has provided firm in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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.
Training and development
– D1 Resource has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Low bargaining power of suppliers
– Suppliers of D1 Resource in the sector have low bargaining power. Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps D1 Resource to manage not only supply disruptions but also source products at highly competitive prices.
Highly skilled collaborators
– D1 Resource 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Strong track record of project management
– D1 Resource is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High brand equity
– D1 Resource has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled D1 Resource to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Learning organization
- D1 Resource 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 D1 Resource is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Effective Research and Development (R&D)
– D1 Resource 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Weaknesses Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update are -
Increasing silos among functional specialists
– The organizational structure of D1 Resource is dominated by functional specialists. It is not different from other players in the Organizational Development segment. D1 Resource needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help D1 Resource to focus more on services rather than just following the product oriented approach.
High bargaining power of channel partners
– Because of the regulatory requirements, Michael Beer, Alistair D. Williamson suggests that, D1 Resource is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
Need for greater diversity
– D1 Resource has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Slow decision making process
– As mentioned earlier in the report, D1 Resource has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. D1 Resource even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update, in the dynamic environment D1 Resource has struggled to respond to the nimble upstart competition. D1 Resource has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
D1 Resource has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 D1 Resource has relatively successful track record of launching new products.
Products dominated business model
– Even though D1 Resource 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 - Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update should strive to include more intangible value offerings along with its core products and services.
High operating costs
– Compare to the competitors, firm in the HBR case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 D1 Resource 's lucrative customers.
Aligning sales with marketing
– It come across in the case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update can leverage the sales team experience to cultivate customer relationships as D1 Resource is planning to shift buying processes online.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update, is just above the industry average. D1 Resource 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.
Opportunities Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update | 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update are -
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help D1 Resource to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Building a culture of innovation
– managers at D1 Resource 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 Organizational Development segment.
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. D1 Resource can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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 D1 Resource in the consumer business. Now D1 Resource can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for D1 Resource to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Loyalty marketing
– D1 Resource has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects D1 Resource can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of D1 Resource has opened avenues for new revenue streams for the organization in the industry. This can help D1 Resource to build a more holistic ecosystem as suggested in the Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update case study. D1 Resource can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Leveraging digital technologies
– D1 Resource 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, D1 Resource 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, D1 Resource is facing challenges because of the dominance of functional experts in the organization. Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for D1 Resource in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Organizational Development segment, and it will provide faster access to the consumers.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for D1 Resource 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 D1 Resource to hire the very best people irrespective of their geographical location.
Threats Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update are -
Easy access to finance
– Easy access to finance in Organizational Development field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. D1 Resource can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update, D1 Resource may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Organizational Development .
Consumer confidence and its impact on D1 Resource 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.
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 D1 Resource in the Organizational Development sector and impact the bottomline of the organization.
High dependence on third party suppliers
– D1 Resource 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.
Technology acceleration in Forth Industrial Revolution
– D1 Resource has witnessed rapid integration of technology during Covid-19 in the Organizational Development industry. As one of the leading players in the industry, D1 Resource needs to keep up with the evolution of technology in the Organizational Development sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Regulatory challenges
– D1 Resource 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 Organizational Development industry regulations.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for D1 Resource in the Organizational Development industry. The Organizational Development industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, D1 Resource 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update .
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.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. D1 Resource will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Environmental challenges
– D1 Resource needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. D1 Resource can take advantage of this fund but it will also bring new competitors in the Organizational Development industry.
Weighted SWOT Analysis of Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 Becton Dickinson (D1): Strategic Human Resource Management Profiling, Update 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 D1 Resource needs to make to build a sustainable competitive advantage.