Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start
Two significant concerns in healthcare are spiraling costs and medical errors. These two concerns are correlated: eliminating medical errors leads to significant cost reductions. We provide an example, ThedaCare Inc., where both problems are improved by providing mechanisms that stop healthcare processes. While businesses often view having their processes stopped as a negative, increasing the stoppages, or creating process failures, is often a precursor to improved performance. A good rule of thumb is: if in doubt, stop. This concept of creating or engineering stoppages in the processes is linked to two "lean" concepts that come from the Toyota Production System: jidoka and poka-yoke. A spectrum of methods for stopping processes is discussed, ranging from warnings in the work environment to mechanical devices designed to stop processes and empower humans to stop the process. The preliminary results achieved at ThedaCare demonstrate the financial and medical improvements that may be obtainable from utilizing these methods.
Swot Analysis of "Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start" written by John R. Grout, John S. Toussaint includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Processes Stop facing as an external strategic factors. Some of the topics covered in Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start case study are - Strategic Management Strategies, Product development and Technology & Operations.
Some of the macro environment factors that can be used to understand the Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start casestudy better are - – increasing commodity prices, there is backlash against globalization, cloud computing is disrupting traditional business models, talent flight as more people leaving formal jobs, increasing household debt because of falling income levels, wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion,
increasing inequality as vast percentage of new income is going to the top 1%, banking and financial system is disrupted by Bitcoin and other crypto currencies, etc
Introduction to SWOT Analysis of Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Processes Stop, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Processes Stop 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start can be done for the following purposes –
1. Strategic planning using facts provided in Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start case study
2. Improving business portfolio management of Processes Stop
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 Processes Stop
Strengths Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Processes Stop in Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start Harvard Business Review case study are -
Strong track record of project management
– Processes Stop 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
– Processes Stop 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 Processes Stop in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Operational resilience
– The operational resilience strategy in the Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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.
Cross disciplinary teams
– Horizontal connected teams at the Processes Stop are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Analytics focus
– Processes Stop 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 John R. Grout, John S. Toussaint 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.
Effective Research and Development (R&D)
– Processes Stop 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Sustainable margins compare to other players in Technology & Operations industry
– Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start firm has clearly differentiated products in the market place. This has enabled Processes Stop to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Processes Stop to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Processes Stop 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Successful track record of launching new products
– Processes Stop has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Processes Stop 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.
Low bargaining power of suppliers
– Suppliers of Processes Stop in the sector have low bargaining power. Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Processes Stop to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Processes Stop 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.
Learning organization
- Processes Stop 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 Processes Stop is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start are -
No frontier risks strategy
– After analyzing the HBR case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start, it seems that company is thinking about the frontier risks that can impact Technology & Operations strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Interest costs
– Compare to the competition, Processes Stop 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start, in the dynamic environment Processes Stop has struggled to respond to the nimble upstart competition. Processes Stop has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Processes Stop is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High operating costs
– Compare to the competitors, firm in the HBR case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Processes Stop 's lucrative customers.
Aligning sales with marketing
– It come across in the case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start can leverage the sales team experience to cultivate customer relationships as Processes Stop is planning to shift buying processes online.
Skills based hiring
– The stress on hiring functional specialists at Processes Stop 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, Processes Stop 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.
Lack of clear differentiation of Processes Stop products
– To increase the profitability and margins on the products, Processes Stop needs to provide more differentiated products than what it is currently offering in the marketplace.
Need for greater diversity
– Processes Stop 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.
Increasing silos among functional specialists
– The organizational structure of Processes Stop is dominated by functional specialists. It is not different from other players in the Technology & Operations segment. Processes Stop needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Processes Stop to focus more on services rather than just following the product oriented approach.
Opportunities Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start | 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start are -
Using analytics as competitive advantage
– Processes Stop 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Processes Stop to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Processes Stop 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.
Learning at scale
– Online learning technologies has now opened space for Processes Stop 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.
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 Processes Stop in the consumer business. Now Processes Stop can target international markets with far fewer capital restrictions requirements than the existing system.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Processes Stop can use these opportunities to build new business models that can help the communities that Processes Stop operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
Manufacturing automation
– Processes Stop 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Processes Stop 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.
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. Processes Stop can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Better consumer reach
– The expansion of the 5G network will help Processes Stop to increase its market reach. Processes Stop 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.
Leveraging digital technologies
– Processes Stop 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.
Creating value in data economy
– The success of analytics program of Processes Stop has opened avenues for new revenue streams for the organization in the industry. This can help Processes Stop to build a more holistic ecosystem as suggested in the Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start case study. Processes Stop can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
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 Processes Stop 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
– Processes Stop can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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.
Threats Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Processes Stop 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.
Increasing wage structure of Processes Stop
– 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 Processes Stop.
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 Processes Stop.
Shortening product life cycle
– it is one of the major threat that Processes Stop is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Processes Stop 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.
Technology acceleration in Forth Industrial Revolution
– Processes Stop has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Processes Stop 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.
Environmental challenges
– Processes Stop 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. Processes Stop can take advantage of this fund but it will also bring new competitors in the Technology & Operations industry.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Processes Stop with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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 Processes Stop in the Technology & Operations sector and impact the bottomline of the organization.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start, Processes Stop 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 .
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Processes Stop 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start .
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. Processes Stop needs to understand the core reasons impacting the Technology & Operations industry. This will help it in building a better workplace.
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. Processes Stop can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Weighted SWOT Analysis of Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Mistake-Proofing Healthcare: Why Stopping Processes May be a Good Start 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 Processes Stop needs to make to build a sustainable competitive advantage.
