Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions
This set of cases (labeled A through M [UV1898 through UV1911]) presents various vignettes, each with a specific dilemma about genetic testing and the ethical issues and difficult decisions that this testing presents to patients, doctors, employers and employees. "A Note on the Human Genome Project" (UV1911) is about genetic testing which provides background and information on the issues.
Swot Analysis of "Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions" written by R. Edward Freeman, Stacy Pierce includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Testing Genetic facing as an external strategic factors. Some of the topics covered in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions case study are - Strategic Management Strategies, Health and Technology & Operations.
Some of the macro environment factors that can be used to understand the Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions casestudy better are - – digital marketing is dominated by two big players Facebook and Google, challanges to central banks by blockchain based private currencies, geopolitical disruptions, there is increasing trade war between United States & China, talent flight as more people leaving formal jobs, customer relationship management is fast transforming because of increasing concerns over data privacy, technology disruption,
there is backlash against globalization, competitive advantages are harder to sustain because of technology dispersion, etc
Introduction to SWOT Analysis of Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Testing Genetic, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions can be done for the following purposes –
1. Strategic planning using facts provided in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions case study
2. Improving business portfolio management of Testing Genetic
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 Testing Genetic
Strengths Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Testing Genetic in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions Harvard Business Review case study are -
Training and development
– Testing Genetic has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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.
Analytics focus
– Testing Genetic 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 R. Edward Freeman, Stacy Pierce 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.
Superior customer experience
– The customer experience strategy of Testing Genetic in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Testing Genetic digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Testing Genetic 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.
Innovation driven organization
– Testing Genetic is one of the most innovative firm in sector. Manager in Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
High switching costs
– The high switching costs that Testing Genetic 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.
Highly skilled collaborators
– Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Strong track record of project management
– Testing Genetic is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Organizational Resilience of Testing Genetic
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Testing Genetic does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Ability to lead change in Technology & Operations field
– Testing Genetic 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 Testing Genetic in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High brand equity
– Testing Genetic has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Testing Genetic to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Weaknesses Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions are -
Aligning sales with marketing
– It come across in the case study Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions can leverage the sales team experience to cultivate customer relationships as Testing Genetic is planning to shift buying processes online.
Need for greater diversity
– Testing Genetic 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 operating costs
– Compare to the competitors, firm in the HBR case study Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Testing Genetic 's lucrative customers.
Lack of clear differentiation of Testing Genetic products
– To increase the profitability and margins on the products, Testing Genetic needs to provide more differentiated products than what it is currently offering in the marketplace.
Interest costs
– Compare to the competition, Testing Genetic 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.
Slow decision making process
– As mentioned earlier in the report, Testing Genetic has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Testing Genetic even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Increasing silos among functional specialists
– The organizational structure of Testing Genetic is dominated by functional specialists. It is not different from other players in the Technology & Operations segment. Testing Genetic needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Testing Genetic to focus more on services rather than just following the product oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions, in the dynamic environment Testing Genetic has struggled to respond to the nimble upstart competition. Testing Genetic has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
Testing Genetic 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.
Capital Spending Reduction
– Even during the low interest decade, Testing Genetic 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions, is just above the industry average. Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions | 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions are -
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Testing Genetic can use these opportunities to build new business models that can help the communities that Testing Genetic operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
Better consumer reach
– The expansion of the 5G network will help Testing Genetic to increase its market reach. Testing Genetic 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.
Buying journey improvements
– Testing Genetic can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Testing Genetic 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.
Leveraging digital technologies
– Testing Genetic can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Testing Genetic in the consumer business. Now Testing Genetic can target international markets with far fewer capital restrictions requirements than the existing system.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Testing Genetic 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. Testing Genetic can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Learning at scale
– Online learning technologies has now opened space for Testing Genetic 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.
Loyalty marketing
– Testing Genetic has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Using analytics as competitive advantage
– Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Testing Genetic 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, Testing Genetic 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.
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. Testing Genetic 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. Testing Genetic 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.
Threats Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions are -
Regulatory challenges
– Testing Genetic 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. Testing Genetic 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.
Stagnating economy with rate increase
– Testing Genetic 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.
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. Testing Genetic can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Technology acceleration in Forth Industrial Revolution
– Testing Genetic has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Testing Genetic 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.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions .
Consumer confidence and its impact on Testing Genetic 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.
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 Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions, Testing Genetic 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 .
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 Testing Genetic business can come under increasing regulations regarding data privacy, data security, etc.
Increasing wage structure of Testing Genetic
– 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 Testing Genetic.
Environmental challenges
– Testing Genetic 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. Testing Genetic can take advantage of this fund but it will also bring new competitors in the Technology & Operations industry.
Weighted SWOT Analysis of Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Genetic Testing and the Puzzles We Are Left To Solve (J): The Role of Insurance in Patient and Physician Decisions 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 Testing Genetic needs to make to build a sustainable competitive advantage.
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