Technology Commercialization at the Massachusetts General Hospital SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Technology Commercialization at the Massachusetts General Hospital
To maximize their effectiveness, color cases should be printed in color.The Department of Corporate Sponsored Research & Licensing (CSRL) at the Massachusetts General Hospital (MGH) serves as the primary interface between the hospital and the private sector. Examines the range of issues related to the commercialization of MGH's technologies. Discusses the debates surrounding the CSRL office mission and measures of its success as well as the impact of conflict of interest policies on technology development and commercialization.
Swot Analysis of "Technology Commercialization at the Massachusetts General Hospital" written by Jonathan West includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Csrl Commercialization facing as an external strategic factors. Some of the topics covered in Technology Commercialization at the Massachusetts General Hospital case study are - Strategic Management Strategies, Innovation, Intellectual property, Technology and Technology & Operations.
Some of the macro environment factors that can be used to understand the Technology Commercialization at the Massachusetts General Hospital casestudy better are - – challanges to central banks by blockchain based private currencies, increasing transportation and logistics costs, increasing government debt because of Covid-19 spendings, increasing inequality as vast percentage of new income is going to the top 1%, supply chains are disrupted by pandemic , banking and financial system is disrupted by Bitcoin and other crypto currencies, talent flight as more people leaving formal jobs,
increasing commodity prices, competitive advantages are harder to sustain because of technology dispersion, etc
Introduction to SWOT Analysis of Technology Commercialization at the Massachusetts General Hospital
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Technology Commercialization at the Massachusetts General Hospital case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Csrl Commercialization, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Csrl Commercialization 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 Technology Commercialization at the Massachusetts General Hospital can be done for the following purposes –
1. Strategic planning using facts provided in Technology Commercialization at the Massachusetts General Hospital case study
2. Improving business portfolio management of Csrl Commercialization
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 Csrl Commercialization
Strengths Technology Commercialization at the Massachusetts General Hospital | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Csrl Commercialization in Technology Commercialization at the Massachusetts General Hospital Harvard Business Review case study are -
Low bargaining power of suppliers
– Suppliers of Csrl Commercialization in the sector have low bargaining power. Technology Commercialization at the Massachusetts General Hospital has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Csrl Commercialization to manage not only supply disruptions but also source products at highly competitive prices.
Successful track record of launching new products
– Csrl Commercialization has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Csrl Commercialization 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.
High switching costs
– The high switching costs that Csrl Commercialization 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.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Csrl Commercialization digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Csrl Commercialization 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.
Training and development
– Csrl Commercialization has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Technology Commercialization at the Massachusetts General Hospital 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.
Sustainable margins compare to other players in Technology & Operations industry
– Technology Commercialization at the Massachusetts General Hospital firm has clearly differentiated products in the market place. This has enabled Csrl Commercialization to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Csrl Commercialization to invest into research and development (R&D) and innovation.
Learning organization
- Csrl Commercialization 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 Csrl Commercialization is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Technology Commercialization at the Massachusetts General Hospital Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
High brand equity
– Csrl Commercialization has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Csrl Commercialization to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Technology & Operations field
– Csrl Commercialization 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 Csrl Commercialization in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Organizational Resilience of Csrl Commercialization
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Csrl Commercialization does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Superior customer experience
– The customer experience strategy of Csrl Commercialization in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Strong track record of project management
– Csrl Commercialization is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses Technology Commercialization at the Massachusetts General Hospital | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Technology Commercialization at the Massachusetts General Hospital are -
Need for greater diversity
– Csrl Commercialization 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Jonathan West suggests that, Csrl Commercialization 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Technology Commercialization at the Massachusetts General Hospital, in the dynamic environment Csrl Commercialization has struggled to respond to the nimble upstart competition. Csrl Commercialization has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High operating costs
– Compare to the competitors, firm in the HBR case study Technology Commercialization at the Massachusetts General Hospital 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 Csrl Commercialization 's lucrative customers.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Csrl Commercialization is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Technology Commercialization at the Massachusetts General Hospital can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Capital Spending Reduction
– Even during the low interest decade, Csrl Commercialization 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Technology Commercialization at the Massachusetts General Hospital 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 Csrl Commercialization has relatively successful track record of launching new products.
Skills based hiring
– The stress on hiring functional specialists at Csrl Commercialization 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Csrl Commercialization 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.
Products dominated business model
– Even though Csrl Commercialization 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 - Technology Commercialization at the Massachusetts General Hospital should strive to include more intangible value offerings along with its core products and services.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Technology Commercialization at the Massachusetts General Hospital, it seems that the employees of Csrl Commercialization 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 Technology Commercialization at the Massachusetts General Hospital | 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 Technology Commercialization at the Massachusetts General Hospital are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Csrl Commercialization 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, Technology Commercialization at the Massachusetts General Hospital, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Csrl Commercialization can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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. Csrl Commercialization can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Creating value in data economy
– The success of analytics program of Csrl Commercialization has opened avenues for new revenue streams for the organization in the industry. This can help Csrl Commercialization to build a more holistic ecosystem as suggested in the Technology Commercialization at the Massachusetts General Hospital case study. Csrl Commercialization can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Manufacturing automation
– Csrl Commercialization 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.
Building a culture of innovation
– managers at Csrl Commercialization 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 Technology & Operations segment.
Leveraging digital technologies
– Csrl Commercialization 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Csrl Commercialization 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.
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. Csrl Commercialization can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Better consumer reach
– The expansion of the 5G network will help Csrl Commercialization to increase its market reach. Csrl Commercialization 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.
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. Csrl Commercialization 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. Csrl Commercialization 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.
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 Csrl Commercialization in the consumer business. Now Csrl Commercialization can target international markets with far fewer capital restrictions requirements than the existing system.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Csrl Commercialization 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 Csrl Commercialization to hire the very best people irrespective of their geographical location.
Threats Technology Commercialization at the Massachusetts General Hospital External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Technology Commercialization at the Massachusetts General Hospital are -
Shortening product life cycle
– it is one of the major threat that Csrl Commercialization is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
Environmental challenges
– Csrl Commercialization 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. Csrl Commercialization can take advantage of this fund but it will also bring new competitors in the Technology & Operations industry.
Consumer confidence and its impact on Csrl Commercialization 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 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.
Stagnating economy with rate increase
– Csrl Commercialization 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.
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. Csrl Commercialization 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.
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 Csrl Commercialization.
Increasing wage structure of Csrl Commercialization
– 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 Csrl Commercialization.
Regulatory challenges
– Csrl Commercialization 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Csrl Commercialization 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 Technology Commercialization at the Massachusetts General Hospital .
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 Csrl Commercialization in the Technology & Operations sector and impact the bottomline of the organization.
High dependence on third party suppliers
– Csrl Commercialization 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.
Weighted SWOT Analysis of Technology Commercialization at the Massachusetts General Hospital 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 Technology Commercialization at the Massachusetts General Hospital 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 Technology Commercialization at the Massachusetts General Hospital 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 Technology Commercialization at the Massachusetts General Hospital 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 Technology Commercialization at the Massachusetts General Hospital 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 Csrl Commercialization needs to make to build a sustainable competitive advantage.
