Swot Analysis of "Marcia Radosevich and Health Payment Review--1989 (C)" written by Amar V. Bhide, Brian Mohan includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Radosevich Marcia facing as an external strategic factors. Some of the topics covered in Marcia Radosevich and Health Payment Review--1989 (C) case study are - Strategic Management Strategies, Marketing, Pricing, Product development and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Marcia Radosevich and Health Payment Review--1989 (C) casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, cloud computing is disrupting traditional business models, increasing household debt because of falling income levels, increasing transportation and logistics costs, there is increasing trade war between United States & China, digital marketing is dominated by two big players Facebook and Google, increasing energy prices,
there is backlash against globalization, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of Marcia Radosevich and Health Payment Review--1989 (C)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Marcia Radosevich and Health Payment Review--1989 (C) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Radosevich Marcia, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Radosevich Marcia 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 Marcia Radosevich and Health Payment Review--1989 (C) can be done for the following purposes –
1. Strategic planning using facts provided in Marcia Radosevich and Health Payment Review--1989 (C) case study
2. Improving business portfolio management of Radosevich Marcia
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 Radosevich Marcia
Strengths Marcia Radosevich and Health Payment Review--1989 (C) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Radosevich Marcia in Marcia Radosevich and Health Payment Review--1989 (C) Harvard Business Review case study are -
High brand equity
– Radosevich Marcia has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Radosevich Marcia to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Successful track record of launching new products
– Radosevich Marcia has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Radosevich Marcia 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.
Ability to recruit top talent
– Radosevich Marcia is one of the leading recruiters in the industry. Managers in the Marcia Radosevich and Health Payment Review--1989 (C) are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Effective Research and Development (R&D)
– Radosevich Marcia has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study Marcia Radosevich and Health Payment Review--1989 (C) - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Diverse revenue streams
– Radosevich Marcia is present in almost all the verticals within the industry. This has provided firm in Marcia Radosevich and Health Payment Review--1989 (C) 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.
Training and development
– Radosevich Marcia has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Marcia Radosevich and Health Payment Review--1989 (C) 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.
Strong track record of project management
– Radosevich Marcia is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Low bargaining power of suppliers
– Suppliers of Radosevich Marcia in the sector have low bargaining power. Marcia Radosevich and Health Payment Review--1989 (C) has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Radosevich Marcia to manage not only supply disruptions but also source products at highly competitive prices.
Learning organization
- Radosevich Marcia 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 Radosevich Marcia is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Marcia Radosevich and Health Payment Review--1989 (C) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Organizational Resilience of Radosevich Marcia
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Radosevich Marcia does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Cross disciplinary teams
– Horizontal connected teams at the Radosevich Marcia 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.
Analytics focus
– Radosevich Marcia 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 Amar V. Bhide, Brian Mohan 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.
Weaknesses Marcia Radosevich and Health Payment Review--1989 (C) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Marcia Radosevich and Health Payment Review--1989 (C) are -
Lack of clear differentiation of Radosevich Marcia products
– To increase the profitability and margins on the products, Radosevich Marcia needs to provide more differentiated products than what it is currently offering in the marketplace.
Products dominated business model
– Even though Radosevich Marcia 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 - Marcia Radosevich and Health Payment Review--1989 (C) should strive to include more intangible value offerings along with its core products and services.
Slow decision making process
– As mentioned earlier in the report, Radosevich Marcia 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. Radosevich Marcia 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.
Increasing silos among functional specialists
– The organizational structure of Radosevich Marcia is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Radosevich Marcia needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Radosevich Marcia to focus more on services rather than just following the product oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Marcia Radosevich and Health Payment Review--1989 (C), in the dynamic environment Radosevich Marcia has struggled to respond to the nimble upstart competition. Radosevich Marcia has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Workers concerns about automation
– As automation is fast increasing in the segment, Radosevich Marcia 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, Radosevich Marcia is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) HBR case study mentions - Radosevich Marcia 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.
Need for greater diversity
– Radosevich Marcia 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.
Skills based hiring
– The stress on hiring functional specialists at Radosevich Marcia 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.
Aligning sales with marketing
– It come across in the case study Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) can leverage the sales team experience to cultivate customer relationships as Radosevich Marcia is planning to shift buying processes online.
Opportunities Marcia Radosevich and Health Payment Review--1989 (C) | 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 Marcia Radosevich and Health Payment Review--1989 (C) are -
Building a culture of innovation
– managers at Radosevich Marcia 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Innovation & Entrepreneurship industry, but it has also influenced the consumer preferences. Radosevich Marcia can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Developing new processes and practices
– Radosevich Marcia 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.
Using analytics as competitive advantage
– Radosevich Marcia 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 Marcia Radosevich and Health Payment Review--1989 (C) - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Radosevich Marcia to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Radosevich Marcia can use these opportunities to build new business models that can help the communities that Radosevich Marcia operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
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. Radosevich Marcia can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Radosevich Marcia 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 Radosevich Marcia to hire the very best people irrespective of their geographical location.
Learning at scale
– Online learning technologies has now opened space for Radosevich Marcia 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Radosevich Marcia 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
– Radosevich Marcia 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.
Manufacturing automation
– Radosevich Marcia 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.
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 Radosevich Marcia in the consumer business. Now Radosevich Marcia can target international markets with far fewer capital restrictions requirements than the existing system.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Radosevich Marcia can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats Marcia Radosevich and Health Payment Review--1989 (C) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Marcia Radosevich and Health Payment Review--1989 (C) are -
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Radosevich Marcia with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Radosevich Marcia 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.
Increasing wage structure of Radosevich Marcia
– 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 Radosevich Marcia.
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. Radosevich Marcia needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Marcia Radosevich and Health Payment Review--1989 (C), Radosevich Marcia 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 .
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 Radosevich Marcia.
Stagnating economy with rate increase
– Radosevich Marcia 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 Radosevich Marcia 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.
High dependence on third party suppliers
– Radosevich Marcia 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.
Environmental challenges
– Radosevich Marcia 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. Radosevich Marcia can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
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.
Shortening product life cycle
– it is one of the major threat that Radosevich Marcia is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Technology acceleration in Forth Industrial Revolution
– Radosevich Marcia has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Radosevich Marcia 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.
Weighted SWOT Analysis of Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) 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 Marcia Radosevich and Health Payment Review--1989 (C) 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 Radosevich Marcia needs to make to build a sustainable competitive advantage.
