Medication Management at Acme Medical Center SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Medication Management at Acme Medical Center
"This patient might have died from complications related to her TPN (total parenteral nutrition) infusion," said Dr. Isaac Johnson, Chief Medical Officer at Acme Medical Center (AMC). He was referring to problems that occurred during the treatment of a 16-year old colitis patient, Susan, who had recently been admitted to the hospital on a Friday afternoon with acute abdominal pain. At that time, Susan was taken to the Operating Room (OR) for placement of a Broviac catheter. The line was placed without incident and TPN was begun. Several hours later a nurse noticed a precipitate in the tubing and a tendency for the line to clog. Susan had to be returned to the operating room for removal of the clogged line and the insertion of a new one. She recovered uneventfully and tolerated her further TPN without incident. As required by the hospital, the incident was entered into the Adverse Incident Monitoring System and a root cause analysis performed. Dr. Johnson's review identified weaknesses in the hospital's medication management system, but also suggested that his team's efforts to get every employee engaged in quality improvement were inadequate. He wondered how to hardwire QI into the institution and make it part of the culture.
Swot Analysis of "Medication Management at Acme Medical Center" written by Lina Matta, Mark Bloomberg M.D. includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Tpn Incident facing as an external strategic factors. Some of the topics covered in Medication Management at Acme Medical Center case study are - Strategic Management Strategies, Product development, Risk management, Supply chain and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Medication Management at Acme Medical Center casestudy better are - – there is increasing trade war between United States & China, increasing transportation and logistics costs, supply chains are disrupted by pandemic , wage bills are increasing, increasing inequality as vast percentage of new income is going to the top 1%, increasing energy prices, central banks are concerned over increasing inflation,
increasing commodity prices, digital marketing is dominated by two big players Facebook and Google, etc
Introduction to SWOT Analysis of Medication Management at Acme Medical Center
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Medication Management at Acme Medical Center case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Tpn Incident, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Tpn Incident 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 Medication Management at Acme Medical Center can be done for the following purposes –
1. Strategic planning using facts provided in Medication Management at Acme Medical Center case study
2. Improving business portfolio management of Tpn Incident
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 Tpn Incident
Strengths Medication Management at Acme Medical Center | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Tpn Incident in Medication Management at Acme Medical Center Harvard Business Review case study are -
Learning organization
- Tpn Incident 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 Tpn Incident is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Medication Management at Acme Medical Center Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Successful track record of launching new products
– Tpn Incident has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Tpn Incident 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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Tpn Incident digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Tpn Incident 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.
Strong track record of project management
– Tpn Incident is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Ability to lead change in Leadership & Managing People field
– Tpn Incident 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 Tpn Incident in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Tpn Incident 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 Lina Matta, Mark Bloomberg M.D. 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.
Operational resilience
– The operational resilience strategy in the Medication Management at Acme Medical Center 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.
Highly skilled collaborators
– Tpn Incident 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 Medication Management at Acme Medical Center HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Organizational Resilience of Tpn Incident
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Tpn Incident does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Low bargaining power of suppliers
– Suppliers of Tpn Incident in the sector have low bargaining power. Medication Management at Acme Medical Center has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Tpn Incident to manage not only supply disruptions but also source products at highly competitive prices.
Innovation driven organization
– Tpn Incident is one of the most innovative firm in sector. Manager in Medication Management at Acme Medical Center Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Leadership & Managing People industry
– Medication Management at Acme Medical Center firm has clearly differentiated products in the market place. This has enabled Tpn Incident to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Tpn Incident to invest into research and development (R&D) and innovation.
Weaknesses Medication Management at Acme Medical Center | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Medication Management at Acme Medical Center are -
Interest costs
– Compare to the competition, Tpn Incident 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Tpn Incident 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Medication Management at Acme Medical Center 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 Tpn Incident has relatively successful track record of launching new products.
Products dominated business model
– Even though Tpn Incident 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 - Medication Management at Acme Medical Center should strive to include more intangible value offerings along with its core products and services.
Aligning sales with marketing
– It come across in the case study Medication Management at Acme Medical Center 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 Medication Management at Acme Medical Center can leverage the sales team experience to cultivate customer relationships as Tpn Incident is planning to shift buying processes online.
Capital Spending Reduction
– Even during the low interest decade, Tpn Incident 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 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 Tpn Incident supply chain. Even after few cautionary changes mentioned in the HBR case study - Medication Management at Acme Medical Center, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Tpn Incident vulnerable to further global disruptions in South East Asia.
High bargaining power of channel partners
– Because of the regulatory requirements, Lina Matta, Mark Bloomberg M.D. suggests that, Tpn Incident 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.
Skills based hiring
– The stress on hiring functional specialists at Tpn Incident 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.
Need for greater diversity
– Tpn Incident 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.
Increasing silos among functional specialists
– The organizational structure of Tpn Incident is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Tpn Incident needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Tpn Incident to focus more on services rather than just following the product oriented approach.
Opportunities Medication Management at Acme Medical Center | 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 Medication Management at Acme Medical Center are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Tpn Incident 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, Medication Management at Acme Medical Center, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Loyalty marketing
– Tpn Incident 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Tpn Incident can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of Tpn Incident has opened avenues for new revenue streams for the organization in the industry. This can help Tpn Incident to build a more holistic ecosystem as suggested in the Medication Management at Acme Medical Center case study. Tpn Incident can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Tpn Incident 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 Tpn Incident to hire the very best people irrespective of their geographical location.
Manufacturing automation
– Tpn Incident 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.
Developing new processes and practices
– Tpn Incident 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.
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. Tpn Incident 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. Tpn Incident 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.
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. Tpn Incident can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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 Tpn Incident in the consumer business. Now Tpn Incident can target international markets with far fewer capital restrictions requirements than the existing system.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Tpn Incident is facing challenges because of the dominance of functional experts in the organization. Medication Management at Acme Medical Center 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Tpn Incident can use these opportunities to build new business models that can help the communities that Tpn Incident operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Better consumer reach
– The expansion of the 5G network will help Tpn Incident to increase its market reach. Tpn Incident 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 Medication Management at Acme Medical Center External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Medication Management at Acme Medical Center are -
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. Tpn Incident 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Tpn Incident 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.
Increasing wage structure of Tpn Incident
– 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 Tpn Incident.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Tpn Incident with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Tpn Incident 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 Medication Management at Acme Medical Center .
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Medication Management at Acme Medical Center, Tpn Incident may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Leadership & Managing People .
Environmental challenges
– Tpn Incident 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. Tpn Incident can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
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 Tpn Incident business can come under increasing regulations regarding data privacy, data security, etc.
Technology acceleration in Forth Industrial Revolution
– Tpn Incident has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Tpn Incident 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.
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 Tpn Incident.
Shortening product life cycle
– it is one of the major threat that Tpn Incident is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Tpn Incident in the Leadership & Managing People sector and impact the bottomline of the organization.
Weighted SWOT Analysis of Medication Management at Acme Medical Center 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 Medication Management at Acme Medical Center 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 Medication Management at Acme Medical Center 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 Medication Management at Acme Medical Center 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 Medication Management at Acme Medical Center 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 Tpn Incident needs to make to build a sustainable competitive advantage.