Swot Analysis of "Marcia Radosevich and Health Payment Review--1989 (G)" 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 (G) 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 (G) casestudy better are - – central banks are concerned over increasing inflation, wage bills are increasing, challanges to central banks by blockchain based private currencies, increasing transportation and logistics costs, supply chains are disrupted by pandemic , increasing household debt because of falling income levels, technology disruption,
increasing government debt because of Covid-19 spendings, banking and financial system is disrupted by Bitcoin and other crypto currencies, etc
Introduction to SWOT Analysis of Marcia Radosevich and Health Payment Review--1989 (G)
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 (G) 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 (G) can be done for the following purposes –
1. Strategic planning using facts provided in Marcia Radosevich and Health Payment Review--1989 (G) 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 (G) | 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 (G) 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.
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.
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.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Radosevich Marcia digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Radosevich Marcia 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.
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 (G) 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 (G) 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.
Operational resilience
– The operational resilience strategy in the Marcia Radosevich and Health Payment Review--1989 (G) 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.
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 (G) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Ability to lead change in Innovation & Entrepreneurship field
– Radosevich Marcia 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 Radosevich Marcia in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
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.
Innovation driven organization
– Radosevich Marcia is one of the most innovative firm in sector. Manager in Marcia Radosevich and Health Payment Review--1989 (G) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Low bargaining power of suppliers
– Suppliers of Radosevich Marcia in the sector have low bargaining power. Marcia Radosevich and Health Payment Review--1989 (G) 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.
Weaknesses Marcia Radosevich and Health Payment Review--1989 (G) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Marcia Radosevich and Health Payment Review--1989 (G) are -
Capital Spending Reduction
– Even during the low interest decade, Radosevich Marcia 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.
High operating costs
– Compare to the competitors, firm in the HBR case study Marcia Radosevich and Health Payment Review--1989 (G) 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 Radosevich Marcia 's lucrative customers.
Aligning sales with marketing
– It come across in the case study Marcia Radosevich and Health Payment Review--1989 (G) 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 (G) can leverage the sales team experience to cultivate customer relationships as Radosevich Marcia is planning to shift buying processes online.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Marcia Radosevich and Health Payment Review--1989 (G), it seems that the employees of Radosevich Marcia 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.
High cash cycle compare to competitors
Radosevich Marcia 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.
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.
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.
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 strategic competitive environment developments
– As Marcia Radosevich and Health Payment Review--1989 (G) 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Amar V. Bhide, Brian Mohan suggests that, Radosevich Marcia 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.
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 (G) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Opportunities Marcia Radosevich and Health Payment Review--1989 (G) | 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 (G) are -
Lowering marketing communication costs
– 5G expansion will open new opportunities for Radosevich Marcia in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Innovation & Entrepreneurship segment, and it will provide faster access to the consumers.
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.
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.
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.
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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Radosevich Marcia is facing challenges because of the dominance of functional experts in the organization. Marcia Radosevich and Health Payment Review--1989 (G) case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Developing new processes and practices
– 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.
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.
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.
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.
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.
Loyalty marketing
– Radosevich Marcia 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.
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.
Threats Marcia Radosevich and Health Payment Review--1989 (G) 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 (G) are -
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.
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.
Easy access to finance
– Easy access to finance in Innovation & Entrepreneurship field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Radosevich Marcia can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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.
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.
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 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.
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.
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. Radosevich Marcia 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.
Regulatory challenges
– Radosevich Marcia 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.
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 (G), 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 .
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Radosevich Marcia 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 Marcia Radosevich and Health Payment Review--1989 (G) .
Weighted SWOT Analysis of Marcia Radosevich and Health Payment Review--1989 (G) 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 (G) 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 (G) 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 (G) 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 (G) 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.
