Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics
This caselet can be utilized to enhance students' understanding and appreciation of data analytics for forecasting incoming medical examination volume by healthcare organizations. It requires a predictive analytic solution in the form of a time series model. The nature of the assignment necessitates effective teamwork on data cleaning, preparation and modeling/analysis of time series, as well as presentation of key findings. The caselet should be moderated as a small-scale consulting engagement, with the instructor assuming the role of the "client," meeting with the engagement team for regular status updates, and attending to questions the team may have. Ideally, the caselet should run anywhere from one week to a month, depending on how meticulously the instructor will plan to implement the assignment. The caselet comes with an accompanying dataset.
Swot Analysis of "Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics" written by Davit Khachatryan includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Caselet Predictive facing as an external strategic factors. Some of the topics covered in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics case study are - Strategic Management Strategies, and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics casestudy better are - – supply chains are disrupted by pandemic , customer relationship management is fast transforming because of increasing concerns over data privacy, there is backlash against globalization, increasing household debt because of falling income levels, geopolitical disruptions, wage bills are increasing, central banks are concerned over increasing inflation,
competitive advantages are harder to sustain because of technology dispersion, increasing inequality as vast percentage of new income is going to the top 1%, etc
Introduction to SWOT Analysis of Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Caselet Predictive, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Caselet Predictive 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics can be done for the following purposes –
1. Strategic planning using facts provided in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics case study
2. Improving business portfolio management of Caselet Predictive
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Caselet Predictive
Strengths Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Caselet Predictive in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics Harvard Business Review case study are -
Training and development
– Caselet Predictive has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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.
Superior customer experience
– The customer experience strategy of Caselet Predictive in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Analytics focus
– Caselet Predictive 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 Davit Khachatryan 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
- Caselet Predictive 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 Caselet Predictive is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Diverse revenue streams
– Caselet Predictive is present in almost all the verticals within the industry. This has provided firm in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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.
Innovation driven organization
– Caselet Predictive is one of the most innovative firm in sector. Manager in Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Cross disciplinary teams
– Horizontal connected teams at the Caselet Predictive 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 Caselet Predictive
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Caselet Predictive does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Operational resilience
– The operational resilience strategy in the Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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.
Effective Research and Development (R&D)
– Caselet Predictive 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics - 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
– Caselet Predictive is one of the leading recruiters in the industry. Managers in the Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Sustainable margins compare to other players in Leadership & Managing People industry
– Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics firm has clearly differentiated products in the market place. This has enabled Caselet Predictive to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Caselet Predictive to invest into research and development (R&D) and innovation.
Weaknesses Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics are -
Interest costs
– Compare to the competition, Caselet Predictive 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics, it seems that the employees of Caselet Predictive 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 Caselet Predictive 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 - Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics should strive to include more intangible value offerings along with its core products and services.
Skills based hiring
– The stress on hiring functional specialists at Caselet Predictive 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.
Slow to strategic competitive environment developments
– As Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics HBR case study mentions - Caselet Predictive 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.
No frontier risks strategy
– After analyzing the HBR case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics, it seems that company is thinking about the frontier risks that can impact Leadership & Managing People 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Davit Khachatryan suggests that, Caselet Predictive 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics, in the dynamic environment Caselet Predictive has struggled to respond to the nimble upstart competition. Caselet Predictive has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Lack of clear differentiation of Caselet Predictive products
– To increase the profitability and margins on the products, Caselet Predictive needs to provide more differentiated products than what it is currently offering in the marketplace.
Workers concerns about automation
– As automation is fast increasing in the segment, Caselet Predictive 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.
Aligning sales with marketing
– It come across in the case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics can leverage the sales team experience to cultivate customer relationships as Caselet Predictive is planning to shift buying processes online.
Opportunities Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics | 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics are -
Learning at scale
– Online learning technologies has now opened space for Caselet Predictive 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.
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 Caselet Predictive 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Caselet Predictive 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, Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Developing new processes and practices
– Caselet Predictive can develop new processes and procedures in Leadership & Managing People 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.
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 Caselet Predictive in the consumer business. Now Caselet Predictive can target international markets with far fewer capital restrictions requirements than the existing system.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Caselet Predictive can use these opportunities to build new business models that can help the communities that Caselet Predictive operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Manufacturing automation
– Caselet Predictive can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Caselet Predictive in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.
Creating value in data economy
– The success of analytics program of Caselet Predictive has opened avenues for new revenue streams for the organization in the industry. This can help Caselet Predictive to build a more holistic ecosystem as suggested in the Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics case study. Caselet Predictive 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. Caselet Predictive can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Loyalty marketing
– Caselet Predictive 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.
Using analytics as competitive advantage
– Caselet Predictive 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Caselet Predictive to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Caselet Predictive can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics are -
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 Caselet Predictive.
Technology acceleration in Forth Industrial Revolution
– Caselet Predictive has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Caselet Predictive needs to keep up with the evolution of technology in the Leadership & Managing People 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.
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.
Stagnating economy with rate increase
– Caselet Predictive 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.
Regulatory challenges
– Caselet Predictive 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 Leadership & Managing People industry regulations.
Shortening product life cycle
– it is one of the major threat that Caselet Predictive is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Consumer confidence and its impact on Caselet Predictive 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Caselet Predictive in the Leadership & Managing People industry. The Leadership & Managing People 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.
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 Caselet Predictive in the Leadership & Managing People sector and impact the bottomline of the organization.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Increasing wage structure of Caselet Predictive
– 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 Caselet Predictive.
High dependence on third party suppliers
– Caselet Predictive 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.
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 Caselet Predictive business can come under increasing regulations regarding data privacy, data security, etc.
Weighted SWOT Analysis of Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Caselet Predictive needs to make to build a sustainable competitive advantage.
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