Becton Dickinson: Ethics and Business Practices (A), Survey SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Global Business
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Becton Dickinson: Ethics and Business Practices (A), Survey
Supplements the (A) case.
Authors :: Lynn Sharp Paine
Topics :: Global Business
Tags :: Ethics, International business, Social responsibility, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis
Swot Analysis of "Becton Dickinson: Ethics and Business Practices (A), Survey" written by Lynn Sharp Paine includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Becton Dickinson facing as an external strategic factors. Some of the topics covered in Becton Dickinson: Ethics and Business Practices (A), Survey case study are - Strategic Management Strategies, Ethics, International business, Social responsibility and Global Business.
Some of the macro environment factors that can be used to understand the Becton Dickinson: Ethics and Business Practices (A), Survey casestudy better are - – supply chains are disrupted by pandemic , increasing transportation and logistics costs, geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy, challanges to central banks by blockchain based private currencies, there is increasing trade war between United States & China, digital marketing is dominated by two big players Facebook and Google,
wage bills are increasing, central banks are concerned over increasing inflation, etc
Introduction to SWOT Analysis of Becton Dickinson: Ethics and Business Practices (A), Survey
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Becton Dickinson: Ethics and Business Practices (A), Survey case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Becton Dickinson, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Becton Dickinson 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 Becton Dickinson: Ethics and Business Practices (A), Survey can be done for the following purposes –
1. Strategic planning using facts provided in Becton Dickinson: Ethics and Business Practices (A), Survey case study
2. Improving business portfolio management of Becton Dickinson
3. Assessing feasibility of the new initiative in Global Business field.
4. Making a Global Business topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Becton Dickinson
Strengths Becton Dickinson: Ethics and Business Practices (A), Survey | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Becton Dickinson in Becton Dickinson: Ethics and Business Practices (A), Survey Harvard Business Review case study are -
Sustainable margins compare to other players in Global Business industry
– Becton Dickinson: Ethics and Business Practices (A), Survey firm has clearly differentiated products in the market place. This has enabled Becton Dickinson to fetch slight price premium compare to the competitors in the Global Business industry. The sustainable margins have also helped Becton Dickinson to invest into research and development (R&D) and innovation.
Analytics focus
– Becton Dickinson 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 Lynn Sharp Paine 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.
High switching costs
– The high switching costs that Becton Dickinson 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.
Low bargaining power of suppliers
– Suppliers of Becton Dickinson in the sector have low bargaining power. Becton Dickinson: Ethics and Business Practices (A), Survey has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Becton Dickinson to manage not only supply disruptions but also source products at highly competitive prices.
Ability to lead change in Global Business field
– Becton Dickinson 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 Becton Dickinson in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High brand equity
– Becton Dickinson has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Becton Dickinson to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Organizational Resilience of Becton Dickinson
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Becton Dickinson does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Learning organization
- Becton Dickinson 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 Becton Dickinson is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Becton Dickinson: Ethics and Business Practices (A), Survey Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Ability to recruit top talent
– Becton Dickinson is one of the leading recruiters in the industry. Managers in the Becton Dickinson: Ethics and Business Practices (A), Survey are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– Becton Dickinson has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Becton Dickinson 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.
Strong track record of project management
– Becton Dickinson is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Cross disciplinary teams
– Horizontal connected teams at the Becton Dickinson 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 Becton Dickinson: Ethics and Business Practices (A), Survey | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Becton Dickinson: Ethics and Business Practices (A), Survey are -
Aligning sales with marketing
– It come across in the case study Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson: Ethics and Business Practices (A), Survey can leverage the sales team experience to cultivate customer relationships as Becton Dickinson is planning to shift buying processes online.
High cash cycle compare to competitors
Becton Dickinson 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.
High operating costs
– Compare to the competitors, firm in the HBR case study Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson 's lucrative customers.
Interest costs
– Compare to the competition, Becton Dickinson 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.
Products dominated business model
– Even though Becton Dickinson 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 - Becton Dickinson: Ethics and Business Practices (A), Survey should strive to include more intangible value offerings along with its core products and services.
No frontier risks strategy
– After analyzing the HBR case study Becton Dickinson: Ethics and Business Practices (A), Survey, it seems that company is thinking about the frontier risks that can impact Global Business strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Workers concerns about automation
– As automation is fast increasing in the segment, Becton Dickinson 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Becton Dickinson is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Becton Dickinson: Ethics and Business Practices (A), Survey can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Slow to strategic competitive environment developments
– As Becton Dickinson: Ethics and Business Practices (A), Survey HBR case study mentions - Becton Dickinson takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Becton Dickinson: Ethics and Business Practices (A), Survey, is just above the industry average. Becton Dickinson 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 Becton Dickinson products
– To increase the profitability and margins on the products, Becton Dickinson needs to provide more differentiated products than what it is currently offering in the marketplace.
Opportunities Becton Dickinson: Ethics and Business Practices (A), Survey | 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 Becton Dickinson: Ethics and Business Practices (A), Survey are -
Leveraging digital technologies
– Becton Dickinson 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Global Business industry, but it has also influenced the consumer preferences. Becton Dickinson can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Manufacturing automation
– Becton Dickinson can use the latest technology developments to improve its manufacturing and designing process in Global Business 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Becton Dickinson 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, Becton Dickinson: Ethics and Business Practices (A), Survey, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Building a culture of innovation
– managers at Becton Dickinson 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 Global Business segment.
Low interest rates
– Even though inflation is raising its head in most developed economies, Becton Dickinson 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Becton Dickinson can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Developing new processes and practices
– Becton Dickinson can develop new processes and procedures in Global Business 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Becton Dickinson can use these opportunities to build new business models that can help the communities that Becton Dickinson operates in. Secondly it can use opportunities from government spending in Global Business sector.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Becton Dickinson is facing challenges because of the dominance of functional experts in the organization. Becton Dickinson: Ethics and Business Practices (A), Survey 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.
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 Becton Dickinson in the consumer business. Now Becton Dickinson can target international markets with far fewer capital restrictions requirements than the existing system.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Becton Dickinson in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Global Business segment, and it will provide faster access to the consumers.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Becton Dickinson 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 Becton Dickinson to hire the very best people irrespective of their geographical location.
Threats Becton Dickinson: Ethics and Business Practices (A), Survey External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Becton Dickinson: Ethics and Business Practices (A), Survey are -
Stagnating economy with rate increase
– Becton Dickinson 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.
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 Becton Dickinson business can come under increasing regulations regarding data privacy, data security, etc.
Shortening product life cycle
– it is one of the major threat that Becton Dickinson is facing in Global Business sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
High dependence on third party suppliers
– Becton Dickinson 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Becton Dickinson in the Global Business industry. The Global Business 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.
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 wage structure of Becton Dickinson
– 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 Becton Dickinson.
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 Becton Dickinson.
Regulatory challenges
– Becton Dickinson 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 Global Business industry regulations.
Consumer confidence and its impact on Becton Dickinson 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.
Environmental challenges
– Becton Dickinson 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. Becton Dickinson can take advantage of this fund but it will also bring new competitors in the Global Business industry.
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. Becton Dickinson needs to understand the core reasons impacting the Global Business industry. This will help it in building a better workplace.
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. Becton Dickinson 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.
Weighted SWOT Analysis of Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson: Ethics and Business Practices (A), Survey 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 Becton Dickinson needs to make to build a sustainable competitive advantage.