Miracle Mind Hypnosis Centre - The London Practice SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Strategy & Execution
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Miracle Mind Hypnosis Centre - The London Practice
The proprietor of Miracle Mind Hypnosis Centre had decided to move her hypnosis practice from a smaller centre to London, Ontario, to be closer to family and to take advantage of a larger potential market for her business. She was unsure in which direction to take the business in its new location. Should she expand the business? Purchase office space in London or run the practice from home? Take on a partner? With the prospect of retirement imminent, perhaps she should sell the practice altogether.
Authors :: Julie Harvey Gosse, Elizabeth M.A. Grasby
Swot Analysis of "Miracle Mind Hypnosis Centre - The London Practice" written by Julie Harvey Gosse, Elizabeth M.A. Grasby includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Hypnosis Practice facing as an external strategic factors. Some of the topics covered in Miracle Mind Hypnosis Centre - The London Practice case study are - Strategic Management Strategies, Growth strategy and Strategy & Execution.
Some of the macro environment factors that can be used to understand the Miracle Mind Hypnosis Centre - The London Practice casestudy better are - – geopolitical disruptions, technology disruption, wage bills are increasing, increasing transportation and logistics costs, increasing household debt because of falling income levels, competitive advantages are harder to sustain because of technology dispersion, there is increasing trade war between United States & China,
banking and financial system is disrupted by Bitcoin and other crypto currencies, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of Miracle Mind Hypnosis Centre - The London Practice
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Miracle Mind Hypnosis Centre - The London Practice case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Hypnosis Practice, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Hypnosis Practice 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 Miracle Mind Hypnosis Centre - The London Practice can be done for the following purposes –
1. Strategic planning using facts provided in Miracle Mind Hypnosis Centre - The London Practice case study
2. Improving business portfolio management of Hypnosis Practice
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 Hypnosis Practice
Strengths Miracle Mind Hypnosis Centre - The London Practice | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Hypnosis Practice in Miracle Mind Hypnosis Centre - The London Practice Harvard Business Review case study are -
Sustainable margins compare to other players in Strategy & Execution industry
– Miracle Mind Hypnosis Centre - The London Practice firm has clearly differentiated products in the market place. This has enabled Hypnosis Practice to fetch slight price premium compare to the competitors in the Strategy & Execution industry. The sustainable margins have also helped Hypnosis Practice to invest into research and development (R&D) and innovation.
Cross disciplinary teams
– Horizontal connected teams at the Hypnosis Practice 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
– Hypnosis Practice 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 Hypnosis Practice in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Successful track record of launching new products
– Hypnosis Practice has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Hypnosis Practice 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
– Hypnosis Practice is one of the most innovative firm in sector. Manager in Miracle Mind Hypnosis Centre - The London Practice Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Learning organization
- Hypnosis Practice 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 Hypnosis Practice is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Miracle Mind Hypnosis Centre - The London Practice Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Low bargaining power of suppliers
– Suppliers of Hypnosis Practice in the sector have low bargaining power. Miracle Mind Hypnosis Centre - The London Practice has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Hypnosis Practice to manage not only supply disruptions but also source products at highly competitive prices.
High brand equity
– Hypnosis Practice has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Hypnosis Practice to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Superior customer experience
– The customer experience strategy of Hypnosis Practice in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Strong track record of project management
– Hypnosis Practice is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Ability to recruit top talent
– Hypnosis Practice is one of the leading recruiters in the industry. Managers in the Miracle Mind Hypnosis Centre - The London Practice are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Digital Transformation in Strategy & Execution segment
- digital transformation varies from industry to industry. For Hypnosis Practice digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Hypnosis Practice 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.
Weaknesses Miracle Mind Hypnosis Centre - The London Practice | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Miracle Mind Hypnosis Centre - The London Practice are -
Slow decision making process
– As mentioned earlier in the report, Hypnosis Practice 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. Hypnosis Practice 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Hypnosis Practice is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Miracle Mind Hypnosis Centre - The London Practice can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Interest costs
– Compare to the competition, Hypnosis Practice has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Lack of clear differentiation of Hypnosis Practice products
– To increase the profitability and margins on the products, Hypnosis Practice needs to provide more differentiated products than what it is currently offering in the marketplace.
Skills based hiring
– The stress on hiring functional specialists at Hypnosis Practice 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.
Products dominated business model
– Even though Hypnosis Practice 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 - Miracle Mind Hypnosis Centre - The London Practice should strive to include more intangible value offerings along with its core products and services.
High bargaining power of channel partners
– Because of the regulatory requirements, Julie Harvey Gosse, Elizabeth M.A. Grasby suggests that, Hypnosis Practice 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.
Slow to strategic competitive environment developments
– As Miracle Mind Hypnosis Centre - The London Practice HBR case study mentions - Hypnosis Practice 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.
No frontier risks strategy
– After analyzing the HBR case study Miracle Mind Hypnosis Centre - The London Practice, it seems that company is thinking about the frontier risks that can impact Strategy & Execution 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.
High operating costs
– Compare to the competitors, firm in the HBR case study Miracle Mind Hypnosis Centre - The London Practice 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 Hypnosis Practice 's lucrative customers.
Low market penetration in new markets
– Outside its home market of Hypnosis Practice, firm in the HBR case study Miracle Mind Hypnosis Centre - The London Practice needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities Miracle Mind Hypnosis Centre - The London Practice | 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 Miracle Mind Hypnosis Centre - The London Practice are -
Low interest rates
– Even though inflation is raising its head in most developed economies, Hypnosis Practice 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Hypnosis Practice 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 Hypnosis Practice to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Hypnosis Practice 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 Miracle Mind Hypnosis Centre - The London Practice - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Hypnosis Practice to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Hypnosis Practice 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 Hypnosis Practice to increase its market reach. Hypnosis Practice 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.
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 Hypnosis Practice 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Hypnosis Practice can use these opportunities to build new business models that can help the communities that Hypnosis Practice operates in. Secondly it can use opportunities from government spending in Strategy & Execution sector.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Hypnosis Practice 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, Miracle Mind Hypnosis Centre - The London Practice, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Hypnosis Practice is facing challenges because of the dominance of functional experts in the organization. Miracle Mind Hypnosis Centre - The London Practice 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.
Learning at scale
– Online learning technologies has now opened space for Hypnosis Practice 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.
Developing new processes and practices
– Hypnosis Practice can develop new processes and procedures in Strategy & Execution 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Hypnosis Practice 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.
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 Hypnosis Practice in the consumer business. Now Hypnosis Practice can target international markets with far fewer capital restrictions requirements than the existing system.
Threats Miracle Mind Hypnosis Centre - The London Practice External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Miracle Mind Hypnosis Centre - The London Practice are -
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Miracle Mind Hypnosis Centre - The London Practice, Hypnosis Practice 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 .
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Hypnosis Practice 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 Miracle Mind Hypnosis Centre - The London Practice .
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Hypnosis Practice with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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. Hypnosis Practice needs to understand the core reasons impacting the Strategy & Execution industry. This will help it in building a better workplace.
Increasing wage structure of Hypnosis Practice
– 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 Hypnosis Practice.
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 Hypnosis Practice in the Strategy & Execution sector and impact the bottomline of the organization.
High dependence on third party suppliers
– Hypnosis Practice 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.
Shortening product life cycle
– it is one of the major threat that Hypnosis Practice is facing in Strategy & Execution sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Hypnosis Practice 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.
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.
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 Hypnosis Practice business can come under increasing regulations regarding data privacy, data security, etc.
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 Hypnosis Practice.
Easy access to finance
– Easy access to finance in Strategy & Execution field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Hypnosis Practice can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Weighted SWOT Analysis of Miracle Mind Hypnosis Centre - The London Practice 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 Miracle Mind Hypnosis Centre - The London Practice 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 Miracle Mind Hypnosis Centre - The London Practice 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 Miracle Mind Hypnosis Centre - The London Practice 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 Miracle Mind Hypnosis Centre - The London Practice 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 Hypnosis Practice needs to make to build a sustainable competitive advantage.
