Medical Errors and Quality of Care: From Control to Commitment SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Medical Errors and Quality of Care: From Control to Commitment
Ongoing efforts to reduce medical errors and enhance quality of patient care focus primarily on technological innovations. However, important management issues that underlie about two-thirds of adverse events have commanded insufficient attention. Examines two alternative management philosophies--control based and commitment based--premised on opposite sets of assumptions about human motivation, and develops a model linking the overall management philosophy with medical errors and quality of care. The current control-based culture and management systems in health care organizations are inherently inadequate in delivering high-quality patient care and safety. To bring further improvements in clinical outcomes, it is necessary to transform them. Implementing commitment-based management will foster collaboration, communication, coordination, and teamwork--the essential mechanisms for reducing medical errors and rendering high-quality health care.
Swot Analysis of "Medical Errors and Quality of Care: From Control to Commitment" written by Naresh Khatri, Alok Baveja, Suzanne A. Boren, Abate Mammo includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Errors Care facing as an external strategic factors. Some of the topics covered in Medical Errors and Quality of Care: From Control to Commitment case study are - Strategic Management Strategies, Corporate governance, Motivating people, Personnel policies, Risk management and Technology & Operations.
Some of the macro environment factors that can be used to understand the Medical Errors and Quality of Care: From Control to Commitment casestudy better are - – central banks are concerned over increasing inflation, increasing commodity prices, digital marketing is dominated by two big players Facebook and Google, increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization, talent flight as more people leaving formal jobs, increasing transportation and logistics costs,
increasing energy prices, wage bills are increasing, etc
Introduction to SWOT Analysis of Medical Errors and Quality of Care: From Control to Commitment
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Medical Errors and Quality of Care: From Control to Commitment case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Errors Care, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Errors Care 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 Medical Errors and Quality of Care: From Control to Commitment can be done for the following purposes –
1. Strategic planning using facts provided in Medical Errors and Quality of Care: From Control to Commitment case study
2. Improving business portfolio management of Errors Care
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 Errors Care
Strengths Medical Errors and Quality of Care: From Control to Commitment | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Errors Care in Medical Errors and Quality of Care: From Control to Commitment Harvard Business Review case study are -
Training and development
– Errors Care has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Medical Errors and Quality of Care: From Control to Commitment 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.
Operational resilience
– The operational resilience strategy in the Medical Errors and Quality of Care: From Control to Commitment 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.
Low bargaining power of suppliers
– Suppliers of Errors Care in the sector have low bargaining power. Medical Errors and Quality of Care: From Control to Commitment has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Errors Care to manage not only supply disruptions but also source products at highly competitive prices.
Organizational Resilience of Errors Care
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Errors Care does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Successful track record of launching new products
– Errors Care has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Errors Care 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
– Errors Care is one of the most innovative firm in sector. Manager in Medical Errors and Quality of Care: From Control to Commitment Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Highly skilled collaborators
– Errors Care 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 Medical Errors and Quality of Care: From Control to Commitment HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High brand equity
– Errors Care has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Errors Care to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Sustainable margins compare to other players in Technology & Operations industry
– Medical Errors and Quality of Care: From Control to Commitment firm has clearly differentiated products in the market place. This has enabled Errors Care to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Errors Care to invest into research and development (R&D) and innovation.
Effective Research and Development (R&D)
– Errors Care 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 Medical Errors and Quality of Care: From Control to Commitment - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Strong track record of project management
– Errors Care 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 lead change in Technology & Operations field
– Errors Care 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 Errors Care in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Weaknesses Medical Errors and Quality of Care: From Control to Commitment | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Medical Errors and Quality of Care: From Control to Commitment are -
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Medical Errors and Quality of Care: From Control to Commitment, it seems that the employees of Errors Care don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
Slow to strategic competitive environment developments
– As Medical Errors and Quality of Care: From Control to Commitment HBR case study mentions - Errors Care 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 Errors Care 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 - Medical Errors and Quality of Care: From Control to Commitment should strive to include more intangible value offerings along with its core products and services.
Increasing silos among functional specialists
– The organizational structure of Errors Care is dominated by functional specialists. It is not different from other players in the Technology & Operations segment. Errors Care needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Errors Care to focus more on services rather than just following the product oriented approach.
Skills based hiring
– The stress on hiring functional specialists at Errors Care 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Medical Errors and Quality of Care: From Control to Commitment, in the dynamic environment Errors Care has struggled to respond to the nimble upstart competition. Errors Care has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Lack of clear differentiation of Errors Care products
– To increase the profitability and margins on the products, Errors Care needs to provide more differentiated products than what it is currently offering in the marketplace.
High cash cycle compare to competitors
Errors Care 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 star products
– The top 2 products and services of the firm as mentioned in the Medical Errors and Quality of Care: From Control to Commitment 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 Errors Care 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 Errors Care supply chain. Even after few cautionary changes mentioned in the HBR case study - Medical Errors and Quality of Care: From Control to Commitment, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Errors Care vulnerable to further global disruptions in South East Asia.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Medical Errors and Quality of Care: From Control to Commitment, is just above the industry average. Errors Care 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.
Opportunities Medical Errors and Quality of Care: From Control to Commitment | 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 Medical Errors and Quality of Care: From Control to Commitment are -
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Errors Care 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 Errors Care to hire the very best people irrespective of their geographical location.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Errors Care 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, Medical Errors and Quality of Care: From Control to Commitment, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Using analytics as competitive advantage
– Errors Care 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 Medical Errors and Quality of Care: From Control to Commitment - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Errors Care to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Low interest rates
– Even though inflation is raising its head in most developed economies, Errors Care 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 Errors Care in the consumer business. Now Errors Care can target international markets with far fewer capital restrictions requirements than the existing system.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Technology & Operations industry, but it has also influenced the consumer preferences. Errors Care can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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 Errors Care to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Buying journey improvements
– Errors Care can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Medical Errors and Quality of Care: From Control to Commitment 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Errors Care is facing challenges because of the dominance of functional experts in the organization. Medical Errors and Quality of Care: From Control to Commitment 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Errors Care 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. Errors Care can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Creating value in data economy
– The success of analytics program of Errors Care has opened avenues for new revenue streams for the organization in the industry. This can help Errors Care to build a more holistic ecosystem as suggested in the Medical Errors and Quality of Care: From Control to Commitment case study. Errors Care can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Loyalty marketing
– Errors Care 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.
Threats Medical Errors and Quality of Care: From Control to Commitment External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Medical Errors and Quality of Care: From Control to Commitment are -
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.
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 Errors Care.
Regulatory challenges
– Errors Care 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.
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. Errors Care 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.
Easy access to finance
– Easy access to finance in Technology & Operations field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Errors Care can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Errors Care 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. Errors Care needs to understand the core reasons impacting the Technology & Operations industry. This will help it in building a better workplace.
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 Errors Care business can come under increasing regulations regarding data privacy, data security, etc.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Errors Care 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.
Environmental challenges
– Errors Care 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. Errors Care can take advantage of this fund but it will also bring new competitors in the Technology & Operations industry.
Stagnating economy with rate increase
– Errors Care 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.
High dependence on third party suppliers
– Errors Care 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 Errors Care is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of Medical Errors and Quality of Care: From Control to Commitment 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 Medical Errors and Quality of Care: From Control to Commitment 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 Medical Errors and Quality of Care: From Control to Commitment 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 Medical Errors and Quality of Care: From Control to Commitment 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 Medical Errors and Quality of Care: From Control to Commitment 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 Errors Care needs to make to build a sustainable competitive advantage.
