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 - – wage bills are increasing, increasing commodity prices, competitive advantages are harder to sustain because of technology dispersion, customer relationship management is fast transforming because of increasing concerns over data privacy, talent flight as more people leaving formal jobs, banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing household debt because of falling income levels,
geopolitical disruptions, increasing energy prices, 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 -
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.
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.
Ability to lead change in Leadership & Managing People field
– Caselet Predictive 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 Caselet Predictive in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
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.
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.
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.
High brand equity
– Caselet Predictive has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Caselet Predictive to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Strong track record of project management
– Caselet Predictive is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High switching costs
– The high switching costs that Caselet Predictive 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.
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.
Successful track record of launching new products
– Caselet Predictive has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Caselet Predictive 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
– 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.
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 -
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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Caselet Predictive has relatively successful track record of launching new products.
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 Caselet Predictive supply chain. Even after few cautionary changes mentioned in the HBR case study - Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Caselet Predictive vulnerable to further global disruptions in South East Asia.
Capital Spending Reduction
– Even during the low interest decade, Caselet Predictive 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.
Increasing silos among functional specialists
– The organizational structure of Caselet Predictive is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Caselet Predictive needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Caselet Predictive to focus more on services rather than just following the product oriented approach.
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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Caselet Predictive is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 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.
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.
High operating costs
– Compare to the competitors, firm in the HBR case study Fargo Health Group: Managing the Demand for Medical Examinations Using Predictive Analytics 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 Caselet Predictive 's lucrative customers.
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.
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 -
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.
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.
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.
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.
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.
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.
Building a culture of innovation
– managers at Caselet Predictive 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 Leadership & Managing People segment.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Leadership & Managing People industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Caselet Predictive can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Caselet Predictive can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
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.
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.
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.
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.
Better consumer reach
– The expansion of the 5G network will help Caselet Predictive to increase its market reach. Caselet Predictive 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.
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 -
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.
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. Caselet Predictive 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.
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.
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.
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.
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.
Environmental challenges
– Caselet Predictive 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. Caselet Predictive can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
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.
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. Caselet Predictive needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
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.
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.
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.
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.
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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