Case Study Description of In-Vitro Fertilization: Outcomes Measurement
As of 2007, there were very few examples of widespread measurement and reporting of health outcomes, a critical quality measure. In-vitro fertilization clinics have been required to report their patient's health outcomes since 1995. The protagonist of the case, Dr. James Goldfarb, faces a number of challenges. As the medical director of a nationally-renowned fertility program at the Cleveland Clinic, he must run an efficient and effective practice that draws patients from both the surrounding area and from around the world. As a leader of the Society for Assisted Reproductive Technology, he must contribute toward the continuing evolution of the practice of in-vitro fertilization and ensure that the outcome measurement system is creating proper incentives and delivering timely, accurate, and useful information to patients, physicians, and researchers.
Authors :: Michael E. Porter, Saquib Rahim, Benjamin Tsai
Swot Analysis of "In-Vitro Fertilization: Outcomes Measurement" written by Michael E. Porter, Saquib Rahim, Benjamin Tsai includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Fertilization Vitro facing as an external strategic factors. Some of the topics covered in In-Vitro Fertilization: Outcomes Measurement case study are - Strategic Management Strategies, IT, Operations management and Strategy & Execution.
Some of the macro environment factors that can be used to understand the In-Vitro Fertilization: Outcomes Measurement casestudy better are - – cloud computing is disrupting traditional business models, competitive advantages are harder to sustain because of technology dispersion, increasing household debt because of falling income levels, increasing commodity prices, geopolitical disruptions, central banks are concerned over increasing inflation, there is backlash against globalization,
challanges to central banks by blockchain based private currencies, banking and financial system is disrupted by Bitcoin and other crypto currencies, etc
Introduction to SWOT Analysis of In-Vitro Fertilization: Outcomes Measurement
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in In-Vitro Fertilization: Outcomes Measurement case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Fertilization Vitro, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Fertilization Vitro 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 In-Vitro Fertilization: Outcomes Measurement can be done for the following purposes –
1. Strategic planning using facts provided in In-Vitro Fertilization: Outcomes Measurement case study
2. Improving business portfolio management of Fertilization Vitro
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 Fertilization Vitro
Strengths In-Vitro Fertilization: Outcomes Measurement | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Fertilization Vitro in In-Vitro Fertilization: Outcomes Measurement Harvard Business Review case study are -
High brand equity
– Fertilization Vitro has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Fertilization Vitro to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
High switching costs
– The high switching costs that Fertilization Vitro 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.
Cross disciplinary teams
– Horizontal connected teams at the Fertilization Vitro 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.
Organizational Resilience of Fertilization Vitro
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Fertilization Vitro does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Digital Transformation in Strategy & Execution segment
- digital transformation varies from industry to industry. For Fertilization Vitro digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Fertilization Vitro 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.
Innovation driven organization
– Fertilization Vitro is one of the most innovative firm in sector. Manager in In-Vitro Fertilization: Outcomes Measurement Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Low bargaining power of suppliers
– Suppliers of Fertilization Vitro in the sector have low bargaining power. In-Vitro Fertilization: Outcomes Measurement has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Fertilization Vitro to manage not only supply disruptions but also source products at highly competitive prices.
Analytics focus
– Fertilization Vitro 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 Michael E. Porter, Saquib Rahim, Benjamin Tsai 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.
Training and development
– Fertilization Vitro has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in In-Vitro Fertilization: Outcomes Measurement 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.
Ability to lead change in Strategy & Execution field
– Fertilization Vitro 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 Fertilization Vitro in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Superior customer experience
– The customer experience strategy of Fertilization Vitro in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Learning organization
- Fertilization Vitro 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 Fertilization Vitro is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in In-Vitro Fertilization: Outcomes Measurement Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses In-Vitro Fertilization: Outcomes Measurement | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of In-Vitro Fertilization: Outcomes Measurement are -
High operating costs
– Compare to the competitors, firm in the HBR case study In-Vitro Fertilization: Outcomes Measurement 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 Fertilization Vitro 's lucrative customers.
Increasing silos among functional specialists
– The organizational structure of Fertilization Vitro is dominated by functional specialists. It is not different from other players in the Strategy & Execution segment. Fertilization Vitro needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Fertilization Vitro to focus more on services rather than just following the product oriented approach.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Fertilization Vitro is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study In-Vitro Fertilization: Outcomes Measurement can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Aligning sales with marketing
– It come across in the case study In-Vitro Fertilization: Outcomes Measurement 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 In-Vitro Fertilization: Outcomes Measurement can leverage the sales team experience to cultivate customer relationships as Fertilization Vitro is planning to shift buying processes online.
Lack of clear differentiation of Fertilization Vitro products
– To increase the profitability and margins on the products, Fertilization Vitro needs to provide more differentiated products than what it is currently offering in the marketplace.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the In-Vitro Fertilization: Outcomes Measurement 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 Fertilization Vitro has relatively successful track record of launching new products.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Fertilization Vitro supply chain. Even after few cautionary changes mentioned in the HBR case study - In-Vitro Fertilization: Outcomes Measurement, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Fertilization Vitro vulnerable to further global disruptions in South East Asia.
High cash cycle compare to competitors
Fertilization Vitro 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.
Skills based hiring
– The stress on hiring functional specialists at Fertilization Vitro has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Slow to strategic competitive environment developments
– As In-Vitro Fertilization: Outcomes Measurement HBR case study mentions - Fertilization Vitro 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study In-Vitro Fertilization: Outcomes Measurement, it seems that the employees of Fertilization Vitro 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.
Opportunities In-Vitro Fertilization: Outcomes Measurement | 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 In-Vitro Fertilization: Outcomes Measurement are -
Building a culture of innovation
– managers at Fertilization Vitro 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 Strategy & Execution segment.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Fertilization Vitro is facing challenges because of the dominance of functional experts in the organization. In-Vitro Fertilization: Outcomes Measurement 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Fertilization Vitro 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 Fertilization Vitro to hire the very best people irrespective of their geographical location.
Developing new processes and practices
– Fertilization Vitro 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.
Buying journey improvements
– Fertilization Vitro can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. In-Vitro Fertilization: Outcomes Measurement 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Fertilization Vitro can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Low interest rates
– Even though inflation is raising its head in most developed economies, Fertilization Vitro 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.
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 Fertilization Vitro in the consumer business. Now Fertilization Vitro can target international markets with far fewer capital restrictions requirements than the existing system.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Fertilization Vitro 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.
Better consumer reach
– The expansion of the 5G network will help Fertilization Vitro to increase its market reach. Fertilization Vitro 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.
Using analytics as competitive advantage
– Fertilization Vitro 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 In-Vitro Fertilization: Outcomes Measurement - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Fertilization Vitro to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Fertilization Vitro can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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. Fertilization Vitro can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Threats In-Vitro Fertilization: Outcomes Measurement External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study In-Vitro Fertilization: Outcomes Measurement are -
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.
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 Fertilization Vitro.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study In-Vitro Fertilization: Outcomes Measurement, Fertilization Vitro 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 .
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. Fertilization Vitro 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.
Consumer confidence and its impact on Fertilization Vitro 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.
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. Fertilization Vitro needs to understand the core reasons impacting the Strategy & Execution industry. This will help it in building a better workplace.
High dependence on third party suppliers
– Fertilization Vitro 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Fertilization Vitro 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.
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. Fertilization Vitro can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Technology acceleration in Forth Industrial Revolution
– Fertilization Vitro has witnessed rapid integration of technology during Covid-19 in the Strategy & Execution industry. As one of the leading players in the industry, Fertilization Vitro 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.
Environmental challenges
– Fertilization Vitro 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. Fertilization Vitro can take advantage of this fund but it will also bring new competitors in the Strategy & Execution industry.
Regulatory challenges
– Fertilization Vitro 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.
Stagnating economy with rate increase
– Fertilization Vitro 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.
Weighted SWOT Analysis of In-Vitro Fertilization: Outcomes Measurement 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 In-Vitro Fertilization: Outcomes Measurement 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 In-Vitro Fertilization: Outcomes Measurement 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 In-Vitro Fertilization: Outcomes Measurement 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 In-Vitro Fertilization: Outcomes Measurement 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 Fertilization Vitro needs to make to build a sustainable competitive advantage.
