Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

Case Study SWOT Analysis Solution

Case Study Description of Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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.

Authors :: R. Edward Freeman, Stacy Pierce

Topics :: Technology & Operations

Tags :: Health, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

Swot Analysis of "Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions casestudy better are - – 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, increasing government debt because of Covid-19 spendings, increasing household debt because of falling income levels, increasing energy prices, digital marketing is dominated by two big players Facebook and Google, there is increasing trade war between United States & China, geopolitical disruptions, increasing commodity prices, etc

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Introduction to SWOT Analysis of Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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.

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SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix

SWOT analysis of Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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

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Strengths Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions Harvard Business Review case study are -

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.

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 (B): How Test Accuracy Levels Can Alter Decisions HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.

Cross disciplinary teams

– Horizontal connected teams at the Testing Genetic 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.

Sustainable margins compare to other players in Technology & Operations industry

– Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions firm has clearly differentiated products in the market place. This has enabled Testing Genetic to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Testing Genetic to invest into research and development (R&D) and innovation.

Successful track record of launching new products

– Testing Genetic has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Testing Genetic 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.

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.

Ability to recruit top talent

– Testing Genetic is one of the leading recruiters in the industry. Managers in the Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.

Diverse revenue streams

– Testing Genetic is present in almost all the verticals within the industry. This has provided firm in Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions 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.

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.

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.

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.

Effective Research and Development (R&D)

– Testing Genetic 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 Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.

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Weaknesses Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions are -

Workers concerns about automation

– As automation is fast increasing in the segment, Testing Genetic 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 Testing Genetic 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 - Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions should strive to include more intangible value offerings along with its core products and services.

Compensation and incentives

– The revenue per employee as mentioned in the HBR case study Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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.

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.

Skills based hiring

– The stress on hiring functional specialists at Testing Genetic 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.

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.

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.

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 Testing Genetic supply chain. Even after few cautionary changes mentioned in the HBR case study - Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Testing Genetic vulnerable to further global disruptions in South East Asia.

Aligning sales with marketing

– It come across in the case study Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions can leverage the sales team experience to cultivate customer relationships as Testing Genetic is planning to shift buying processes online.

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.

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Testing Genetic is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.

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Opportunities Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions are -

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Testing Genetic 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, Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Manufacturing automation

– Testing Genetic 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.

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.

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. Testing Genetic can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

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.

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 Testing Genetic 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.

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.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Testing Genetic 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 Testing Genetic to hire the very best people irrespective of their geographical location.

Building a culture of innovation

– managers at Testing Genetic 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

– 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.

Redefining models of collaboration and team work

– As explained in the weaknesses section, Testing Genetic is facing challenges because of the dominance of functional experts in the organization. Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter Decisions 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.

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.

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.

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Threats Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter Decisions are -

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 (B): How Test Accuracy Levels Can Alter 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 .

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.

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.

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.

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. Testing Genetic 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. 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.

Shortening product life cycle

– it is one of the major threat that Testing Genetic is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.

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.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Testing Genetic 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.

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.

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.

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.

High dependence on third party suppliers

– Testing Genetic 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.

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Weighted SWOT Analysis of Genetic Testing and the Puzzles We Are Left To Solve (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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 (B): How Test Accuracy Levels Can Alter 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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