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 - – cloud computing is disrupting traditional business models, increasing energy prices, geopolitical disruptions, challanges to central banks by blockchain based private currencies, digital marketing is dominated by two big players Facebook and Google, banking and financial system is disrupted by Bitcoin and other crypto currencies, wage bills are increasing,
technology disruption, central banks are concerned over increasing inflation, 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 -
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.
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.
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.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Errors Care digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Errors Care 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.
High switching costs
– The high switching costs that Errors Care 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.
Diverse revenue streams
– Errors Care is present in almost all the verticals within the industry. This has provided firm in Medical Errors and Quality of Care: From Control to Commitment case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
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.
Analytics focus
– Errors Care 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 Naresh Khatri, Alok Baveja, Suzanne A. Boren, Abate Mammo 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.
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.
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.
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.
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 -
High operating costs
– Compare to the competitors, firm in the HBR case study Medical Errors and Quality of Care: From Control to Commitment 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 Errors Care 's lucrative customers.
Interest costs
– Compare to the competition, Errors Care 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.
Aligning sales with marketing
– It come across in the case study Medical Errors and Quality of Care: From Control to Commitment 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 Medical Errors and Quality of Care: From Control to Commitment can leverage the sales team experience to cultivate customer relationships as Errors Care is planning to shift buying processes online.
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.
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.
Workers concerns about automation
– As automation is fast increasing in the segment, Errors Care 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.
Low market penetration in new markets
– Outside its home market of Errors Care, firm in the HBR case study Medical Errors and Quality of Care: From Control to Commitment needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
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.
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.
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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Errors Care is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Medical Errors and Quality of Care: From Control to Commitment can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
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 -
Manufacturing automation
– Errors Care can use the latest technology developments to improve its manufacturing and designing process in Technology & Operations segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Errors Care can use these opportunities to build new business models that can help the communities that Errors Care operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
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.
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.
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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Technology & Operations industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Errors Care can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Errors Care can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Errors Care 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.
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.
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.
Better consumer reach
– The expansion of the 5G network will help Errors Care to increase its market reach. Errors Care 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.
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.
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.
Learning at scale
– Online learning technologies has now opened space for Errors Care 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.
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 -
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.
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.
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.
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.
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 Errors Care in the Technology & Operations sector and impact the bottomline of the organization.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Errors Care with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Increasing wage structure of Errors Care
– 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 Errors Care.
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.
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.
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.
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.
Technology acceleration in Forth Industrial Revolution
– Errors Care has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Errors Care 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.
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.