Swot Analysis of "Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus" written by Richard G. Hamermesh, Robert F. Higgins includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Entrepreneurship Healthcare facing as an external strategic factors. Some of the topics covered in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus case study are - Strategic Management Strategies, and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus casestudy better are - – there is increasing trade war between United States & China, increasing inequality as vast percentage of new income is going to the top 1%, talent flight as more people leaving formal jobs, customer relationship management is fast transforming because of increasing concerns over data privacy, supply chains are disrupted by pandemic , there is backlash against globalization, central banks are concerned over increasing inflation,
wage bills are increasing, cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Entrepreneurship Healthcare, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Entrepreneurship Healthcare 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus can be done for the following purposes –
1. Strategic planning using facts provided in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus case study
2. Improving business portfolio management of Entrepreneurship Healthcare
3. Assessing feasibility of the new initiative in Innovation & Entrepreneurship field.
4. Making a Innovation & Entrepreneurship topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Entrepreneurship Healthcare
Strengths Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Entrepreneurship Healthcare in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus Harvard Business Review case study are -
Diverse revenue streams
– Entrepreneurship Healthcare is present in almost all the verticals within the industry. This has provided firm in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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.
Cross disciplinary teams
– Horizontal connected teams at the Entrepreneurship Healthcare 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.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Entrepreneurship Healthcare digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Entrepreneurship Healthcare 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.
Successful track record of launching new products
– Entrepreneurship Healthcare has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Entrepreneurship Healthcare 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.
Low bargaining power of suppliers
– Suppliers of Entrepreneurship Healthcare in the sector have low bargaining power. Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Entrepreneurship Healthcare to manage not only supply disruptions but also source products at highly competitive prices.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus firm has clearly differentiated products in the market place. This has enabled Entrepreneurship Healthcare to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Entrepreneurship Healthcare to invest into research and development (R&D) and innovation.
High switching costs
– The high switching costs that Entrepreneurship Healthcare has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Highly skilled collaborators
– Entrepreneurship Healthcare 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Analytics focus
– Entrepreneurship Healthcare 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 Richard G. Hamermesh, Robert F. Higgins 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.
Learning organization
- Entrepreneurship Healthcare 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 Entrepreneurship Healthcare is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship Healthcare
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Entrepreneurship Healthcare does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus are -
High bargaining power of channel partners
– Because of the regulatory requirements, Richard G. Hamermesh, Robert F. Higgins suggests that, Entrepreneurship Healthcare 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Entrepreneurship Healthcare 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 strategic competitive environment developments
– As Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus HBR case study mentions - Entrepreneurship Healthcare 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.
Increasing silos among functional specialists
– The organizational structure of Entrepreneurship Healthcare is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Entrepreneurship Healthcare needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Entrepreneurship Healthcare to focus more on services rather than just following the product oriented approach.
No frontier risks strategy
– After analyzing the HBR case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, it seems that company is thinking about the frontier risks that can impact Innovation & Entrepreneurship 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.
Low market penetration in new markets
– Outside its home market of Entrepreneurship Healthcare, firm in the HBR case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, is just above the industry average. Entrepreneurship Healthcare 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, in the dynamic environment Entrepreneurship Healthcare has struggled to respond to the nimble upstart competition. Entrepreneurship Healthcare has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Interest costs
– Compare to the competition, Entrepreneurship Healthcare 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, it seems that the employees of Entrepreneurship Healthcare 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 Entrepreneurship Healthcare 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 - Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus should strive to include more intangible value offerings along with its core products and services.
Opportunities Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus | 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus are -
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. Entrepreneurship Healthcare can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Developing new processes and practices
– Entrepreneurship Healthcare can develop new processes and procedures in Innovation & Entrepreneurship 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Entrepreneurship Healthcare 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, Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Leveraging digital technologies
– Entrepreneurship Healthcare 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.
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 Entrepreneurship Healthcare 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.
Manufacturing automation
– Entrepreneurship Healthcare can use the latest technology developments to improve its manufacturing and designing process in Innovation & Entrepreneurship 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 Entrepreneurship Healthcare has opened avenues for new revenue streams for the organization in the industry. This can help Entrepreneurship Healthcare to build a more holistic ecosystem as suggested in the Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus case study. Entrepreneurship Healthcare can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Building a culture of innovation
– managers at Entrepreneurship Healthcare 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 Innovation & Entrepreneurship segment.
Using analytics as competitive advantage
– Entrepreneurship Healthcare 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Entrepreneurship Healthcare to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Low interest rates
– Even though inflation is raising its head in most developed economies, Entrepreneurship Healthcare 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.
Buying journey improvements
– Entrepreneurship Healthcare can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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.
Better consumer reach
– The expansion of the 5G network will help Entrepreneurship Healthcare to increase its market reach. Entrepreneurship Healthcare 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Entrepreneurship Healthcare can use these opportunities to build new business models that can help the communities that Entrepreneurship Healthcare operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
Threats Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus are -
Stagnating economy with rate increase
– Entrepreneurship Healthcare 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.
Environmental challenges
– Entrepreneurship Healthcare 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. Entrepreneurship Healthcare can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Entrepreneurship Healthcare in the Innovation & Entrepreneurship industry. The Innovation & Entrepreneurship 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.
Regulatory challenges
– Entrepreneurship Healthcare 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 Innovation & Entrepreneurship industry regulations.
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 Entrepreneurship Healthcare business can come under increasing regulations regarding data privacy, data security, etc.
Consumer confidence and its impact on Entrepreneurship Healthcare 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.
Technology acceleration in Forth Industrial Revolution
– Entrepreneurship Healthcare has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Entrepreneurship Healthcare needs to keep up with the evolution of technology in the Innovation & Entrepreneurship 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus, Entrepreneurship Healthcare may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Innovation & Entrepreneurship .
Increasing wage structure of Entrepreneurship Healthcare
– 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 Entrepreneurship Healthcare.
High dependence on third party suppliers
– Entrepreneurship Healthcare 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.
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 Entrepreneurship Healthcare in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
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 Entrepreneurship Healthcare.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Entrepreneurship Healthcare 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus .
Weighted SWOT Analysis of Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship and Venture Capital in Healthcare Fall Term 2011: Course Outline and Syllabus 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 Entrepreneurship Healthcare needs to make to build a sustainable competitive advantage.
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