John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Organizational Development
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B)
Describes what happened after the apparent eruption and traumas within the task force described in the (A) case. The task force moved from being "the very worst committee" according to one member to becoming "the very best." Tries to explain how and why. Also describes some of the longer term outcomes.
Swot Analysis of "John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B)" written by Louis B. Barnes includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Force Task facing as an external strategic factors. Some of the topics covered in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) case study are - Strategic Management Strategies, Leading teams, Organizational culture, Strategy execution and Organizational Development.
Some of the macro environment factors that can be used to understand the John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) casestudy better are - – increasing household debt because of falling income levels, talent flight as more people leaving formal jobs, wage bills are increasing, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing commodity prices, geopolitical disruptions, competitive advantages are harder to sustain because of technology dispersion,
there is increasing trade war between United States & China, technology disruption, etc
Introduction to SWOT Analysis of John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Force Task, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Force Task 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) can be done for the following purposes –
1. Strategic planning using facts provided in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) case study
2. Improving business portfolio management of Force Task
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 Force Task
Strengths John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Force Task in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) Harvard Business Review case study are -
Learning organization
- Force Task 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 Force Task is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Ability to lead change in Organizational Development field
– Force Task is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Force Task in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Ability to recruit top talent
– Force Task is one of the leading recruiters in the industry. Managers in the John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
High brand equity
– Force Task has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Force Task to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Training and development
– Force Task has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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.
Superior customer experience
– The customer experience strategy of Force Task in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Cross disciplinary teams
– Horizontal connected teams at the Force Task 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.
Sustainable margins compare to other players in Organizational Development industry
– John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) firm has clearly differentiated products in the market place. This has enabled Force Task to fetch slight price premium compare to the competitors in the Organizational Development industry. The sustainable margins have also helped Force Task to invest into research and development (R&D) and innovation.
Digital Transformation in Organizational Development segment
- digital transformation varies from industry to industry. For Force Task digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Force Task 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.
Effective Research and Development (R&D)
– Force Task 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Successful track record of launching new products
– Force Task has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Force Task 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.
Innovation driven organization
– Force Task is one of the most innovative firm in sector. Manager in John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Weaknesses John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) are -
Skills based hiring
– The stress on hiring functional specialists at Force Task 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.
Capital Spending Reduction
– Even during the low interest decade, Force Task has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
High cash cycle compare to competitors
Force Task 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B), it seems that the employees of Force Task 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.
Slow decision making process
– As mentioned earlier in the report, Force Task 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. Force Task 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.
Products dominated business model
– Even though Force Task 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) should strive to include more intangible value offerings along with its core products and services.
Workers concerns about automation
– As automation is fast increasing in the segment, Force Task needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
High bargaining power of channel partners
– Because of the regulatory requirements, Louis B. Barnes suggests that, Force Task 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.
Lack of clear differentiation of Force Task products
– To increase the profitability and margins on the products, Force Task needs to provide more differentiated products than what it is currently offering in the marketplace.
Aligning sales with marketing
– It come across in the case study John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) can leverage the sales team experience to cultivate customer relationships as Force Task is planning to shift buying processes online.
High operating costs
– Compare to the competitors, firm in the HBR case study John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Force Task 's lucrative customers.
Opportunities John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) | 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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. Force Task can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Better consumer reach
– The expansion of the 5G network will help Force Task to increase its market reach. Force Task will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Force Task is facing challenges because of the dominance of functional experts in the organization. John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Organizational Development industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Force Task can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Force Task can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Force Task 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B), to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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 Force Task 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.
Buying journey improvements
– Force Task can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
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 Force Task in the consumer business. Now Force Task 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 Force Task 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Force Task can use these opportunities to build new business models that can help the communities that Force Task operates in. Secondly it can use opportunities from government spending in Organizational Development sector.
Developing new processes and practices
– Force Task can develop new processes and procedures in Organizational Development industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Organizational Development industry, but it has also influenced the consumer preferences. Force Task can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Leveraging digital technologies
– Force Task 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.
Threats John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) are -
High dependence on third party suppliers
– Force Task 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.
Consumer confidence and its impact on Force Task 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B), Force Task 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 .
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 Force Task.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Force Task 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.
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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Force Task with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Regulatory challenges
– Force Task 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.
Shortening product life cycle
– it is one of the major threat that Force Task is facing in Organizational Development sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Force Task needs to understand the core reasons impacting the Organizational Development industry. This will help it in building a better workplace.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Force Task 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) .
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.
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. Force Task 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.
Weighted SWOT Analysis of John Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Hancock Mutual Life Insurance Co.: The Inflation Strategy Task Force (B) 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 Force Task needs to make to build a sustainable competitive advantage.