MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
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Case Study Description of MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research
Confidential Instructions for Pat Armstrong, MedDevice, Inc's Director of International Strategic Market Research for product #PON323.Two-party, four-issue negotiation between representatives of two companies with different national and corporate cultures regarding a possible joint venture. MedDevice, a U.S.-based Fortune 500 company that manufactures high technology medical equipment, and Lee Medical Supply, a small Thailand-based company that distributes medical equipment in Southeast Asia, seek to conclude a joint venture. The venture, to be named MedLee, Ltd., will take the form of a Bangkok sales office that distributes MedDevice brand medical equipment. The CEOs have met and signed a Memorandum of Understanding. They have now instructed their subordinates (Pat Armstrong, the Director of International Strategic Market Research at MedDevice, and T.S. Lee, the Vice President and son of the owner of Lee Medical Supply) to conduct preliminary negotiations on four issues they consider central to the joint venture: decision making, staffing, profit distribution, and a conflict resolution mechanism. MedDevice and Lee Medical Supply differ greatly in their corporate cultures. The respective negotiators must develop a way for companies with such divergent cultures to work together. This is a role play case.
Swot Analysis of "MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research" written by Candace Lun, Jeswald Salacuse includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Meddevice Lee facing as an external strategic factors. Some of the topics covered in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research case study are - Strategic Management Strategies, Conflict, Decision making, Negotiations and Strategy & Execution.
Some of the macro environment factors that can be used to understand the MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research casestudy better are - – competitive advantages are harder to sustain because of technology dispersion, there is backlash against globalization, geopolitical disruptions, increasing energy prices, supply chains are disrupted by pandemic , there is increasing trade war between United States & China, cloud computing is disrupting traditional business models,
increasing commodity prices, digital marketing is dominated by two big players Facebook and Google, etc
Introduction to SWOT Analysis of MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Meddevice Lee, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Meddevice Lee 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research can be done for the following purposes –
1. Strategic planning using facts provided in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research case study
2. Improving business portfolio management of Meddevice Lee
3. Assessing feasibility of the new initiative in Strategy & Execution field.
4. Making a Strategy & Execution topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Meddevice Lee
Strengths MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Meddevice Lee in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research Harvard Business Review case study are -
Learning organization
- Meddevice Lee 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 Meddevice Lee is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Analytics focus
– Meddevice Lee 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 Candace Lun, Jeswald Salacuse 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.
Organizational Resilience of Meddevice Lee
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Meddevice Lee does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Training and development
– Meddevice Lee has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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.
Strong track record of project management
– Meddevice Lee 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
– Meddevice Lee has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Meddevice Lee to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Low bargaining power of suppliers
– Suppliers of Meddevice Lee in the sector have low bargaining power. MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Meddevice Lee to manage not only supply disruptions but also source products at highly competitive prices.
Innovation driven organization
– Meddevice Lee is one of the most innovative firm in sector. Manager in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Diverse revenue streams
– Meddevice Lee is present in almost all the verticals within the industry. This has provided firm in MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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.
Cross disciplinary teams
– Horizontal connected teams at the Meddevice Lee 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.
Ability to lead change in Strategy & Execution field
– Meddevice Lee 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 Meddevice Lee 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
– Meddevice Lee is one of the leading recruiters in the industry. Managers in the MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Weaknesses MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research are -
Slow to strategic competitive environment developments
– As MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research HBR case study mentions - Meddevice Lee 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research, in the dynamic environment Meddevice Lee has struggled to respond to the nimble upstart competition. Meddevice Lee has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High operating costs
– Compare to the competitors, firm in the HBR case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 Meddevice Lee 's lucrative customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research, is just above the industry average. Meddevice Lee 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.
Aligning sales with marketing
– It come across in the case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research can leverage the sales team experience to cultivate customer relationships as Meddevice Lee is planning to shift buying processes online.
Workers concerns about automation
– As automation is fast increasing in the segment, Meddevice Lee 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.
Need for greater diversity
– Meddevice Lee 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.
Lack of clear differentiation of Meddevice Lee products
– To increase the profitability and margins on the products, Meddevice Lee needs to provide more differentiated products than what it is currently offering in the marketplace.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research, it seems that the employees of Meddevice Lee 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 Meddevice Lee has relatively successful track record of launching new products.
High cash cycle compare to competitors
Meddevice Lee 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.
Opportunities MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research | 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Meddevice Lee can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Meddevice Lee 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 Meddevice Lee to hire the very best people irrespective of their geographical location.
Creating value in data economy
– The success of analytics program of Meddevice Lee has opened avenues for new revenue streams for the organization in the industry. This can help Meddevice Lee to build a more holistic ecosystem as suggested in the MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research case study. Meddevice Lee can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Strategy & Execution industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Meddevice Lee 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. Meddevice Lee 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Meddevice Lee 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.
Loyalty marketing
– Meddevice Lee 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Meddevice Lee can use these opportunities to build new business models that can help the communities that Meddevice Lee operates in. Secondly it can use opportunities from government spending in Strategy & Execution sector.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Strategy & Execution industry, but it has also influenced the consumer preferences. Meddevice Lee can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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 Meddevice Lee in the consumer business. Now Meddevice Lee can target international markets with far fewer capital restrictions requirements than the existing system.
Manufacturing automation
– Meddevice Lee can use the latest technology developments to improve its manufacturing and designing process in Strategy & Execution 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Meddevice Lee in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Strategy & Execution segment, and it will provide faster access to the consumers.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Meddevice Lee is facing challenges because of the dominance of functional experts in the organization. MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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.
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. Meddevice Lee can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Threats MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 Meddevice Lee.
Stagnating economy with rate increase
– Meddevice Lee 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research, Meddevice Lee may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Strategy & Execution .
High dependence on third party suppliers
– Meddevice Lee 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 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.
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 Meddevice Lee in the Strategy & Execution sector and impact the bottomline of the organization.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Meddevice Lee in the Strategy & Execution industry. The Strategy & Execution 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.
Technology acceleration in Forth Industrial Revolution
– Meddevice Lee has witnessed rapid integration of technology during Covid-19 in the Strategy & Execution industry. As one of the leading players in the industry, Meddevice Lee needs to keep up with the evolution of technology in the Strategy & Execution 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.
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 Meddevice Lee business can come under increasing regulations regarding data privacy, data security, etc.
Consumer confidence and its impact on Meddevice Lee 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.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Meddevice Lee 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research .
Regulatory challenges
– Meddevice Lee 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 Strategy & Execution industry regulations.
Weighted SWOT Analysis of MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 MEDLEE: IN PURSUIT OF A HEALTHY JOINT VENTURE - Confidential Instructions for Pat Armstrong, MedDevice, Inc.'s Director of International Strategic Market Research 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 Meddevice Lee needs to make to build a sustainable competitive advantage.
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