Florida Power & Light's Quality Improvement Program, Spanish Version SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Florida Power & Light's Quality Improvement Program, Spanish Version
Describes a major electric utility's highly successful effort to institute a comprehensive quality improvement program throughout the organization. Designed to be used in a comparative analysis of the quality improvement effort described in Paul Revere Insurance Co. (A). Students learn that there is no one "right way" to build the concept of defect-prevention into an organization (as espoused by such quality experts as Deming, Juran, and Crosby). Rather, the design and implementation of a quality improvement strategy need to be tailored to such variables as the nature of demand for an organization's service, its service-delivery process, corporate culture, organizational climate, financial performance, industry structure and trends, and competing demands for organizational attention. Important topics dealt with are program implementation, problem-solving methodology/philosophical roots, rewards and recognition, measuring results, maintaining momentum, and limitations/problems.
Swot Analysis of "Florida Power & Light's Quality Improvement Program, Spanish Version" written by Christopher W.L. Hart, Joan Livingston includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Improvement Quality facing as an external strategic factors. Some of the topics covered in Florida Power & Light's Quality Improvement Program, Spanish Version case study are - Strategic Management Strategies, Product development, Productivity, Strategy execution and Technology & Operations.
Some of the macro environment factors that can be used to understand the Florida Power & Light's Quality Improvement Program, Spanish Version casestudy better are - – cloud computing is disrupting traditional business models, competitive advantages are harder to sustain because of technology dispersion, wage bills are increasing, customer relationship management is fast transforming because of increasing concerns over data privacy, central banks are concerned over increasing inflation, geopolitical disruptions, supply chains are disrupted by pandemic ,
increasing energy prices, increasing government debt because of Covid-19 spendings, etc
Introduction to SWOT Analysis of Florida Power & Light's Quality Improvement Program, Spanish Version
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Florida Power & Light's Quality Improvement Program, Spanish Version case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Improvement Quality, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Improvement Quality 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 Florida Power & Light's Quality Improvement Program, Spanish Version can be done for the following purposes –
1. Strategic planning using facts provided in Florida Power & Light's Quality Improvement Program, Spanish Version case study
2. Improving business portfolio management of Improvement Quality
3. Assessing feasibility of the new initiative in Technology & Operations field.
4. Making a Technology & Operations topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Improvement Quality
Strengths Florida Power & Light's Quality Improvement Program, Spanish Version | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Improvement Quality in Florida Power & Light's Quality Improvement Program, Spanish Version Harvard Business Review case study are -
Innovation driven organization
– Improvement Quality is one of the most innovative firm in sector. Manager in Florida Power & Light's Quality Improvement Program, Spanish Version Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Operational resilience
– The operational resilience strategy in the Florida Power & Light's Quality Improvement Program, Spanish Version Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Effective Research and Development (R&D)
– Improvement Quality 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 Florida Power & Light's Quality Improvement Program, Spanish Version - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High brand equity
– Improvement Quality has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Improvement Quality to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Highly skilled collaborators
– Improvement Quality has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Florida Power & Light's Quality Improvement Program, Spanish Version HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to lead change in Technology & Operations field
– Improvement Quality 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 Improvement Quality in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Sustainable margins compare to other players in Technology & Operations industry
– Florida Power & Light's Quality Improvement Program, Spanish Version firm has clearly differentiated products in the market place. This has enabled Improvement Quality to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Improvement Quality to invest into research and development (R&D) and innovation.
Analytics focus
– Improvement Quality 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 Christopher W.L. Hart, Joan Livingston 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.
Successful track record of launching new products
– Improvement Quality has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Improvement Quality 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.
Learning organization
- Improvement Quality 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 Improvement Quality is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Florida Power & Light's Quality Improvement Program, Spanish Version Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Strong track record of project management
– Improvement Quality is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Low bargaining power of suppliers
– Suppliers of Improvement Quality in the sector have low bargaining power. Florida Power & Light's Quality Improvement Program, Spanish Version has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Improvement Quality to manage not only supply disruptions but also source products at highly competitive prices.
Weaknesses Florida Power & Light's Quality Improvement Program, Spanish Version | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Florida Power & Light's Quality Improvement Program, Spanish Version are -
High cash cycle compare to competitors
Improvement Quality has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
High dependence on 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 Improvement Quality supply chain. Even after few cautionary changes mentioned in the HBR case study - Florida Power & Light's Quality Improvement Program, Spanish Version, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Improvement Quality vulnerable to further global disruptions in South East Asia.
Aligning sales with marketing
– It come across in the case study Florida Power & Light's Quality Improvement Program, Spanish Version 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 Florida Power & Light's Quality Improvement Program, Spanish Version can leverage the sales team experience to cultivate customer relationships as Improvement Quality is planning to shift buying processes online.
Slow to strategic competitive environment developments
– As Florida Power & Light's Quality Improvement Program, Spanish Version HBR case study mentions - Improvement Quality 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.
Products dominated business model
– Even though Improvement Quality 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 - Florida Power & Light's Quality Improvement Program, Spanish Version should strive to include more intangible value offerings along with its core products and services.
Capital Spending Reduction
– Even during the low interest decade, Improvement Quality 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Florida Power & Light's Quality Improvement Program, Spanish Version, in the dynamic environment Improvement Quality has struggled to respond to the nimble upstart competition. Improvement Quality has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Workers concerns about automation
– As automation is fast increasing in the segment, Improvement Quality 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, Christopher W.L. Hart, Joan Livingston suggests that, Improvement Quality 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.
Interest costs
– Compare to the competition, Improvement Quality 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.
Need for greater diversity
– Improvement Quality 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.
Opportunities Florida Power & Light's Quality Improvement Program, Spanish Version | 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 Florida Power & Light's Quality Improvement Program, Spanish Version are -
Loyalty marketing
– Improvement Quality 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.
Using analytics as competitive advantage
– Improvement Quality 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 Florida Power & Light's Quality Improvement Program, Spanish Version - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Improvement Quality to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Improvement Quality can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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. Improvement Quality can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Buying journey improvements
– Improvement Quality can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Florida Power & Light's Quality Improvement Program, Spanish Version 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.
Leveraging digital technologies
– Improvement Quality 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.
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 Improvement Quality in the consumer business. Now Improvement Quality 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 Improvement Quality in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Technology & Operations segment, and it will provide faster access to the consumers.
Developing new processes and practices
– Improvement Quality can develop new processes and procedures in Technology & Operations 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.
Better consumer reach
– The expansion of the 5G network will help Improvement Quality to increase its market reach. Improvement Quality 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Improvement Quality 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Improvement Quality 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, Florida Power & Light's Quality Improvement Program, Spanish Version, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Creating value in data economy
– The success of analytics program of Improvement Quality has opened avenues for new revenue streams for the organization in the industry. This can help Improvement Quality to build a more holistic ecosystem as suggested in the Florida Power & Light's Quality Improvement Program, Spanish Version case study. Improvement Quality can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Threats Florida Power & Light's Quality Improvement Program, Spanish Version External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Florida Power & Light's Quality Improvement Program, Spanish Version 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 Improvement Quality.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Improvement Quality with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Shortening product life cycle
– it is one of the major threat that Improvement Quality is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Technology acceleration in Forth Industrial Revolution
– Improvement Quality has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Improvement Quality needs to keep up with the evolution of technology in the Technology & Operations 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.
Increasing wage structure of Improvement Quality
– 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 Improvement Quality.
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 Improvement Quality business can come under increasing regulations regarding data privacy, data security, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Improvement Quality 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 Florida Power & Light's Quality Improvement Program, Spanish Version .
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.
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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Improvement Quality in the Technology & Operations industry. The Technology & Operations 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.
Regulatory challenges
– Improvement Quality 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 Technology & Operations industry regulations.
High dependence on third party suppliers
– Improvement Quality 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Florida Power & Light's Quality Improvement Program, Spanish Version, Improvement Quality may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Technology & Operations .
Weighted SWOT Analysis of Florida Power & Light's Quality Improvement Program, Spanish Version 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 Florida Power & Light's Quality Improvement Program, Spanish Version 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 Florida Power & Light's Quality Improvement Program, Spanish Version 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 Florida Power & Light's Quality Improvement Program, Spanish Version 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 Florida Power & Light's Quality Improvement Program, Spanish Version 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 Improvement Quality needs to make to build a sustainable competitive advantage.
