Pet Care Veterinary Services SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

Case Study SWOT Analysis Solution

Case Study Description of Pet Care Veterinary Services

The spring of 2002 had been grueling for the owner of Pet Care Veterinary Services, a small-animal veterinary practice with two clinics in Southwestern Ontario. Everything seemed to be going wrong at Pet Care's Avery, Ontario location. Profitability was disappointing, medication had disappeared, and the owner had serious concerns about her associate veterinarian's quality of animal care. The owner wondered what would be her best course of action. She could afford to keep the clinic open for another year and try to either fix the operational issues or leave things as they were and see if the problems resolved themselves. The owner wondered whether it would be best to sell and avoid future problems. What price would she ask for the clinic if she chose to sell? Whatever her choice, she knew she had to make a decision quickly, because the uncertainty and stress of running two clinics were beginning to take their toll.

Authors :: Elizabeth M.A. Grasby, Jason Stornelli

Topics :: Finance & Accounting

Tags :: Human resource management, Operations management, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

Swot Analysis of "Pet Care Veterinary Services" written by Elizabeth M.A. Grasby, Jason Stornelli includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Veterinary Pet facing as an external strategic factors. Some of the topics covered in Pet Care Veterinary Services case study are - Strategic Management Strategies, Human resource management, Operations management and Finance & Accounting.

Some of the macro environment factors that can be used to understand the Pet Care Veterinary Services casestudy better are - – increasing inequality as vast percentage of new income is going to the top 1%, wage bills are increasing, there is increasing trade war between United States & China, supply chains are disrupted by pandemic , increasing energy prices, talent flight as more people leaving formal jobs, increasing transportation and logistics costs, cloud computing is disrupting traditional business models, geopolitical disruptions, etc

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Introduction to SWOT Analysis of Pet Care Veterinary Services

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Pet Care Veterinary Services case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Veterinary Pet, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Veterinary Pet 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 Pet Care Veterinary Services can be done for the following purposes –
1. Strategic planning using facts provided in Pet Care Veterinary Services case study
2. Improving business portfolio management of Veterinary Pet
3. Assessing feasibility of the new initiative in Finance & Accounting field.
4. Making a Finance & Accounting topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Veterinary Pet

Strengths Pet Care Veterinary Services | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Veterinary Pet in Pet Care Veterinary Services Harvard Business Review case study are -

Superior customer experience

– The customer experience strategy of Veterinary Pet in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Training and development

– Veterinary Pet has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Pet Care Veterinary Services 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.

Digital Transformation in Finance & Accounting segment

- digital transformation varies from industry to industry. For Veterinary Pet digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Veterinary Pet 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.

High switching costs

– The high switching costs that Veterinary Pet 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.

Analytics focus

– Veterinary Pet 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 Elizabeth M.A. Grasby, Jason Stornelli 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.

Operational resilience

– The operational resilience strategy in the Pet Care Veterinary Services 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.

Highly skilled collaborators

– Veterinary Pet 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 Pet Care Veterinary Services HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.

Strong track record of project management

– Veterinary Pet 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

– Veterinary Pet has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Veterinary Pet to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Learning organization

- Veterinary Pet 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 Veterinary Pet is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Pet Care Veterinary Services Harvard Business Review case study emphasize – knowledge, initiative, and innovation.

Innovation driven organization

– Veterinary Pet is one of the most innovative firm in sector. Manager in Pet Care Veterinary Services Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.

Cross disciplinary teams

– Horizontal connected teams at the Veterinary Pet 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.

Weaknesses Pet Care Veterinary Services | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Pet Care Veterinary Services are -

High bargaining power of channel partners

– Because of the regulatory requirements, Elizabeth M.A. Grasby, Jason Stornelli suggests that, Veterinary Pet is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.

High dependence on star products

– The top 2 products and services of the firm as mentioned in the Pet Care Veterinary Services HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Veterinary Pet has relatively successful track record of launching new products.

Aligning sales with marketing

– It come across in the case study Pet Care Veterinary Services 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 Pet Care Veterinary Services can leverage the sales team experience to cultivate customer relationships as Veterinary Pet is planning to shift buying processes online.

Skills based hiring

– The stress on hiring functional specialists at Veterinary Pet 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, Veterinary Pet 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.

Need for greater diversity

– Veterinary Pet 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.

Capital Spending Reduction

– Even during the low interest decade, Veterinary Pet 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.

Lack of clear differentiation of Veterinary Pet products

– To increase the profitability and margins on the products, Veterinary Pet needs to provide more differentiated products than what it is currently offering in the marketplace.

Products dominated business model

– Even though Veterinary Pet 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 - Pet Care Veterinary Services 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 Pet Care Veterinary Services, is just above the industry average. Veterinary Pet 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.

High operating costs

– Compare to the competitors, firm in the HBR case study Pet Care Veterinary Services 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 Veterinary Pet 's lucrative customers.

Opportunities Pet Care Veterinary Services | 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 Pet Care Veterinary Services are -

Buying journey improvements

– Veterinary Pet can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Pet Care Veterinary Services 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.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Veterinary Pet 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, Pet Care Veterinary Services, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Changes in consumer behavior post Covid-19

– Consumer behavior has changed in the Finance & Accounting industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Veterinary Pet 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. Veterinary Pet 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.

Remote work and new talent hiring opportunities

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

Loyalty marketing

– Veterinary Pet 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.

Developing new processes and practices

– Veterinary Pet can develop new processes and procedures in Finance & Accounting 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.

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Finance & Accounting industry, but it has also influenced the consumer preferences. Veterinary Pet can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Increase in government spending

– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Veterinary Pet can use these opportunities to build new business models that can help the communities that Veterinary Pet operates in. Secondly it can use opportunities from government spending in Finance & Accounting sector.

Low interest rates

– Even though inflation is raising its head in most developed economies, Veterinary Pet 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.

Leveraging digital technologies

– Veterinary Pet 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.

Using analytics as competitive advantage

– Veterinary Pet 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 Pet Care Veterinary Services - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Veterinary Pet to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.

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 Veterinary Pet in the consumer business. Now Veterinary Pet can target international markets with far fewer capital restrictions requirements than the existing system.

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. Veterinary Pet can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Threats Pet Care Veterinary Services External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats mentioned in the HBR case study Pet Care Veterinary Services are -

Easy access to finance

– Easy access to finance in Finance & Accounting field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Veterinary Pet can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

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. Veterinary Pet needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.

Increasing wage structure of Veterinary Pet

– 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 Veterinary Pet.

Stagnating economy with rate increase

– Veterinary Pet 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.

Consumer confidence and its impact on Veterinary Pet 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.

Shortening product life cycle

– it is one of the major threat that Veterinary Pet is facing in Finance & Accounting 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. Veterinary Pet 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.

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.

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.

Barriers of entry lowering

– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Veterinary Pet with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.

Learning curve for new practices

– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Pet Care Veterinary Services, Veterinary Pet may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Finance & Accounting .

Environmental challenges

– Veterinary Pet 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. Veterinary Pet can take advantage of this fund but it will also bring new competitors in the Finance & Accounting industry.

High dependence on third party suppliers

– Veterinary Pet high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.

Weighted SWOT Analysis of Pet Care Veterinary Services 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 Pet Care Veterinary Services 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 Pet Care Veterinary Services 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 Pet Care Veterinary Services 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 Pet Care Veterinary Services 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 Veterinary Pet needs to make to build a sustainable competitive advantage.

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