Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
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Case Study Description of Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals
Manipal Hospitals, which was started in 1953, had the advantage of being the "oldest" healthcare group in India. In six decades, the group could establish the reputation for being ethical and patient friendly. In 2017, Manipal Hospitals catered to around 2 million customers from India and overseas every year through their tertiary and secondary care facilities. In 2017, MHE managed an aggregate of 5,200 plus beds among 16 hospitals, over 13 locations across 6 states in India and one hospital in Klang, Malaysia. The Group's acute care flagship quaternary care facility located in the heart of Bangalore, India's IT capital was set up in 1991. The 680-bed Manipal Hospital at HAL Airport Road provided care in over 60 specialties under one roof. Ajay Bakshi, MD and CEO of Manipal Hospitals strongly believed that the word-of-mouth (WOM) is much stronger than any other type of promotion and thus it is important for MHE to keep customers informed about the improvements. With the improved system for feedback collection, he was confident of moving towards a more tangible outcome from feedback collection. Collecting Net Promoters Score (NPS) and tracking the trend of NPS was an integral part of patient care at MHE. He also believed that closing the loop is a central theme of the Net Promoter Score and thus NPS should be pivotal to understanding the deficiencies in the system and improving it. Ajay believed that NPS score itself is just the tip of the iceberg. The real value was provided by understanding what leads to the NPS score, especially the causes of detractors and promoters and asking follow-up questions on the reason for the score. It provided a gold mine of information which can be used to improve patient care.
Swot Analysis of "Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals" written by Rahul Kumar, Sandhya Shenoy, Unnikrishnan Dinesh Kumar includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Nps Manipal facing as an external strategic factors. Some of the topics covered in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals case study are - Strategic Management Strategies, Customers and Sales & Marketing.
Some of the macro environment factors that can be used to understand the Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals casestudy better are - – digital marketing is dominated by two big players Facebook and Google, challanges to central banks by blockchain based private currencies, there is backlash against globalization, increasing household debt because of falling income levels, increasing inequality as vast percentage of new income is going to the top 1%, increasing transportation and logistics costs, banking and financial system is disrupted by Bitcoin and other crypto currencies,
competitive advantages are harder to sustain because of technology dispersion, increasing energy prices, etc
Introduction to SWOT Analysis of Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Nps Manipal, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Nps Manipal 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals can be done for the following purposes –
1. Strategic planning using facts provided in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals case study
2. Improving business portfolio management of Nps Manipal
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Nps Manipal
Strengths Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Nps Manipal in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals Harvard Business Review case study are -
Operational resilience
– The operational resilience strategy in the Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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.
Organizational Resilience of Nps Manipal
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Nps Manipal does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Training and development
– Nps Manipal has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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.
Innovation driven organization
– Nps Manipal is one of the most innovative firm in sector. Manager in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Successful track record of launching new products
– Nps Manipal has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Nps Manipal 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.
Cross disciplinary teams
– Horizontal connected teams at the Nps Manipal 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.
Ability to recruit top talent
– Nps Manipal is one of the leading recruiters in the industry. Managers in the Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
High brand equity
– Nps Manipal has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Nps Manipal to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Superior customer experience
– The customer experience strategy of Nps Manipal in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Ability to lead change in Sales & Marketing field
– Nps Manipal 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 Nps Manipal in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High switching costs
– The high switching costs that Nps Manipal has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Diverse revenue streams
– Nps Manipal is present in almost all the verticals within the industry. This has provided firm in Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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.
Weaknesses Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals are -
Need for greater diversity
– Nps Manipal 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals, in the dynamic environment Nps Manipal has struggled to respond to the nimble upstart competition. Nps Manipal has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Skills based hiring
– The stress on hiring functional specialists at Nps Manipal 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 operating costs
– Compare to the competitors, firm in the HBR case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Nps Manipal 's lucrative customers.
Slow decision making process
– As mentioned earlier in the report, Nps Manipal 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. Nps Manipal 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals, is just above the industry average. Nps Manipal 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.
Lack of clear differentiation of Nps Manipal products
– To increase the profitability and margins on the products, Nps Manipal needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Nps Manipal is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals, it seems that the employees of Nps Manipal 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.
Products dominated business model
– Even though Nps Manipal 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 - Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals should strive to include more intangible value offerings along with its core products and services.
Aligning sales with marketing
– It come across in the case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals can leverage the sales team experience to cultivate customer relationships as Nps Manipal is planning to shift buying processes online.
Opportunities Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals | 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals are -
Learning at scale
– Online learning technologies has now opened space for Nps Manipal 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.
Manufacturing automation
– Nps Manipal can use the latest technology developments to improve its manufacturing and designing process in Sales & Marketing 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.
Creating value in data economy
– The success of analytics program of Nps Manipal has opened avenues for new revenue streams for the organization in the industry. This can help Nps Manipal to build a more holistic ecosystem as suggested in the Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals case study. Nps Manipal can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. Nps Manipal can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Low interest rates
– Even though inflation is raising its head in most developed economies, Nps Manipal 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.
Better consumer reach
– The expansion of the 5G network will help Nps Manipal to increase its market reach. Nps Manipal 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Nps Manipal 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, Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Nps Manipal 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 Nps Manipal to hire the very best people irrespective of their geographical location.
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 Nps Manipal 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Nps Manipal is facing challenges because of the dominance of functional experts in the organization. Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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.
Developing new processes and practices
– Nps Manipal can develop new processes and procedures in Sales & Marketing industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing 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 Nps Manipal in the consumer business. Now Nps Manipal can target international markets with far fewer capital restrictions requirements than the existing system.
Building a culture of innovation
– managers at Nps Manipal 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 Sales & Marketing segment.
Threats Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals are -
Shortening product life cycle
– it is one of the major threat that Nps Manipal is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals, Nps Manipal may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
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 Nps Manipal business can come under increasing regulations regarding data privacy, data security, 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Nps Manipal in the Sales & Marketing industry. The Sales & Marketing 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 international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Nps Manipal 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals .
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. Nps Manipal needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Technology acceleration in Forth Industrial Revolution
– Nps Manipal has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Nps Manipal needs to keep up with the evolution of technology in the Sales & Marketing 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.
Increasing wage structure of Nps Manipal
– 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 Nps Manipal.
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 Nps Manipal.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Nps Manipal with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Easy access to finance
– Easy access to finance in Sales & Marketing field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Nps Manipal can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Regulatory challenges
– Nps Manipal 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 Sales & Marketing industry regulations.
Weighted SWOT Analysis of Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Predicting Net Promoter Score (NPS) to Improve Patient Experience at Manipal Hospitals 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 Nps Manipal needs to make to build a sustainable competitive advantage.
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