Multiasistencia: Redefining the Relationship with Its Service Professionals SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Finance & Accounting
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Multiasistencia: Redefining the Relationship with Its Service Professionals
Multiasistencia, a major Spanish BPO of insurance repairs, is changing the relational contract with its service professionals from a referral model to a guaranteed workload one.
Authors :: F. Asis Martinez-Jerez, Maria Garcia Perez, Katherine Miller
Swot Analysis of "Multiasistencia: Redefining the Relationship with Its Service Professionals" written by F. Asis Martinez-Jerez, Maria Garcia Perez, Katherine Miller includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Multiasistencia Professionals facing as an external strategic factors. Some of the topics covered in Multiasistencia: Redefining the Relationship with Its Service Professionals case study are - Strategic Management Strategies, Financial markets, Motivating people, Negotiations, Operations management and Finance & Accounting.
Some of the macro environment factors that can be used to understand the Multiasistencia: Redefining the Relationship with Its Service Professionals casestudy better are - – challanges to central banks by blockchain based private currencies, increasing transportation and logistics costs, customer relationship management is fast transforming because of increasing concerns over data privacy, technology disruption, increasing commodity prices, increasing household debt because of falling income levels, banking and financial system is disrupted by Bitcoin and other crypto currencies,
talent flight as more people leaving formal jobs, geopolitical disruptions, etc
Introduction to SWOT Analysis of Multiasistencia: Redefining the Relationship with Its Service Professionals
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Multiasistencia: Redefining the Relationship with Its Service Professionals case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Multiasistencia Professionals, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Multiasistencia Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals can be done for the following purposes –
1. Strategic planning using facts provided in Multiasistencia: Redefining the Relationship with Its Service Professionals case study
2. Improving business portfolio management of Multiasistencia Professionals
3. Assessing feasibility of the new initiative in Finance & Accounting field.
4. Making a Finance & Accounting topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Multiasistencia Professionals
Strengths Multiasistencia: Redefining the Relationship with Its Service Professionals | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Multiasistencia Professionals in Multiasistencia: Redefining the Relationship with Its Service Professionals Harvard Business Review case study are -
High brand equity
– Multiasistencia Professionals has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Multiasistencia Professionals to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
High switching costs
– The high switching costs that Multiasistencia Professionals 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.
Digital Transformation in Finance & Accounting segment
- digital transformation varies from industry to industry. For Multiasistencia Professionals digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Multiasistencia Professionals 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.
Highly skilled collaborators
– Multiasistencia Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Superior customer experience
– The customer experience strategy of Multiasistencia Professionals in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Training and development
– Multiasistencia Professionals has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Multiasistencia: Redefining the Relationship with Its Service Professionals 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.
Cross disciplinary teams
– Horizontal connected teams at the Multiasistencia Professionals 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.
Ability to lead change in Finance & Accounting field
– Multiasistencia Professionals 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 Multiasistencia Professionals in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Operational resilience
– The operational resilience strategy in the Multiasistencia: Redefining the Relationship with Its Service Professionals 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.
Strong track record of project management
– Multiasistencia Professionals is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Effective Research and Development (R&D)
– Multiasistencia Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Ability to recruit top talent
– Multiasistencia Professionals is one of the leading recruiters in the industry. Managers in the Multiasistencia: Redefining the Relationship with Its Service Professionals are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Weaknesses Multiasistencia: Redefining the Relationship with Its Service Professionals | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Multiasistencia: Redefining the Relationship with Its Service Professionals are -
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Multiasistencia Professionals is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Multiasistencia: Redefining the Relationship with Its Service Professionals can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Aligning sales with marketing
– It come across in the case study Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals can leverage the sales team experience to cultivate customer relationships as Multiasistencia Professionals is planning to shift buying processes online.
Need for greater diversity
– Multiasistencia Professionals 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.
High cash cycle compare to competitors
Multiasistencia Professionals 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.
Products dominated business model
– Even though Multiasistencia Professionals 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 - Multiasistencia: Redefining the Relationship with Its Service Professionals should strive to include more intangible value offerings along with its core products and services.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Multiasistencia Professionals supply chain. Even after few cautionary changes mentioned in the HBR case study - Multiasistencia: Redefining the Relationship with Its Service Professionals, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Multiasistencia Professionals vulnerable to further global disruptions in South East Asia.
Lack of clear differentiation of Multiasistencia Professionals products
– To increase the profitability and margins on the products, Multiasistencia Professionals needs to provide more differentiated products than what it is currently offering in the marketplace.
High operating costs
– Compare to the competitors, firm in the HBR case study Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia Professionals 's lucrative customers.
Skills based hiring
– The stress on hiring functional specialists at Multiasistencia Professionals 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.
No frontier risks strategy
– After analyzing the HBR case study Multiasistencia: Redefining the Relationship with Its Service Professionals, it seems that company is thinking about the frontier risks that can impact Finance & Accounting 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Multiasistencia: Redefining the Relationship with Its Service Professionals, is just above the industry average. Multiasistencia Professionals 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.
Opportunities Multiasistencia: Redefining the Relationship with Its Service Professionals | 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 Multiasistencia: Redefining the Relationship with Its Service Professionals are -
Loyalty marketing
– Multiasistencia Professionals 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.
Leveraging digital technologies
– Multiasistencia Professionals 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.
Better consumer reach
– The expansion of the 5G network will help Multiasistencia Professionals to increase its market reach. Multiasistencia Professionals 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.
Developing new processes and practices
– Multiasistencia Professionals can develop new processes and procedures in Finance & Accounting industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Multiasistencia Professionals 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, Multiasistencia: Redefining the Relationship with Its Service Professionals, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Creating value in data economy
– The success of analytics program of Multiasistencia Professionals has opened avenues for new revenue streams for the organization in the industry. This can help Multiasistencia Professionals to build a more holistic ecosystem as suggested in the Multiasistencia: Redefining the Relationship with Its Service Professionals case study. Multiasistencia Professionals can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
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. Multiasistencia Professionals can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Building a culture of innovation
– managers at Multiasistencia Professionals 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 Finance & Accounting segment.
Learning at scale
– Online learning technologies has now opened space for Multiasistencia Professionals 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.
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 Multiasistencia Professionals in the consumer business. Now Multiasistencia Professionals can target international markets with far fewer capital restrictions requirements than the existing system.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Multiasistencia Professionals 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 Multiasistencia Professionals to hire the very best people irrespective of their geographical location.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Finance & Accounting industry, but it has also influenced the consumer preferences. Multiasistencia Professionals can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Multiasistencia Professionals can use these opportunities to build new business models that can help the communities that Multiasistencia Professionals operates in. Secondly it can use opportunities from government spending in Finance & Accounting sector.
Threats Multiasistencia: Redefining the Relationship with Its Service Professionals External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Multiasistencia: Redefining the Relationship with Its Service Professionals are -
Consumer confidence and its impact on Multiasistencia Professionals 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.
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 Multiasistencia Professionals.
Shortening product life cycle
– it is one of the major threat that Multiasistencia Professionals is facing in Finance & Accounting sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Stagnating economy with rate increase
– Multiasistencia Professionals 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Multiasistencia Professionals with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Regulatory challenges
– Multiasistencia Professionals 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 Finance & Accounting industry regulations.
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. Multiasistencia Professionals needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.
Increasing wage structure of Multiasistencia Professionals
– 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 Multiasistencia Professionals.
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 Multiasistencia Professionals business can come under increasing regulations regarding data privacy, data security, etc.
High dependence on third party suppliers
– Multiasistencia Professionals 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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Multiasistencia: Redefining the Relationship with Its Service Professionals, Multiasistencia Professionals may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Finance & Accounting .
Environmental challenges
– Multiasistencia Professionals 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. Multiasistencia Professionals can take advantage of this fund but it will also bring new competitors in the Finance & Accounting industry.
Weighted SWOT Analysis of Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia: Redefining the Relationship with Its Service Professionals 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 Multiasistencia Professionals needs to make to build a sustainable competitive advantage.
