Swot Analysis of "Name Your Price: Compensation Negotiation at Whole Health Management (C)" written by Brian J. Hall, Deepak Malhotra, Nicole Bennett includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Compensation Negotiation facing as an external strategic factors. Some of the topics covered in Name Your Price: Compensation Negotiation at Whole Health Management (C) case study are - Strategic Management Strategies, Compensation, Hiring, Human resource management, Motivating people, Negotiations and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Name Your Price: Compensation Negotiation at Whole Health Management (C) casestudy better are - – there is increasing trade war between United States & China, competitive advantages are harder to sustain because of technology dispersion, increasing government debt because of Covid-19 spendings, technology disruption, there is backlash against globalization, wage bills are increasing, central banks are concerned over increasing inflation,
increasing commodity prices, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of Name Your Price: Compensation Negotiation at Whole Health Management (C)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Name Your Price: Compensation Negotiation at Whole Health Management (C) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Compensation Negotiation, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Compensation Negotiation 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) can be done for the following purposes –
1. Strategic planning using facts provided in Name Your Price: Compensation Negotiation at Whole Health Management (C) case study
2. Improving business portfolio management of Compensation Negotiation
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 Compensation Negotiation
Strengths Name Your Price: Compensation Negotiation at Whole Health Management (C) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Compensation Negotiation in Name Your Price: Compensation Negotiation at Whole Health Management (C) Harvard Business Review case study are -
Ability to lead change in Leadership & Managing People field
– Compensation Negotiation 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 Compensation Negotiation in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Highly skilled collaborators
– Compensation Negotiation 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Training and development
– Compensation Negotiation has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Name Your Price: Compensation Negotiation at Whole Health Management (C) 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.
High switching costs
– The high switching costs that Compensation Negotiation 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.
Effective Research and Development (R&D)
– Compensation Negotiation 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Learning organization
- Compensation Negotiation 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 Compensation Negotiation is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Name Your Price: Compensation Negotiation at Whole Health Management (C) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the Name Your Price: Compensation Negotiation at Whole Health Management (C) 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.
Sustainable margins compare to other players in Leadership & Managing People industry
– Name Your Price: Compensation Negotiation at Whole Health Management (C) firm has clearly differentiated products in the market place. This has enabled Compensation Negotiation to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Compensation Negotiation to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Compensation Negotiation in the sector have low bargaining power. Name Your Price: Compensation Negotiation at Whole Health Management (C) has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Compensation Negotiation to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Compensation Negotiation 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
– Compensation Negotiation has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Compensation Negotiation 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.
Strong track record of project management
– Compensation Negotiation is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses Name Your Price: Compensation Negotiation at Whole Health Management (C) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Name Your Price: Compensation Negotiation at Whole Health Management (C) are -
Aligning sales with marketing
– It come across in the case study Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) can leverage the sales team experience to cultivate customer relationships as Compensation Negotiation is planning to shift buying processes online.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Compensation Negotiation has relatively successful track record of launching new products.
Slow to strategic competitive environment developments
– As Name Your Price: Compensation Negotiation at Whole Health Management (C) HBR case study mentions - Compensation Negotiation 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Name Your Price: Compensation Negotiation at Whole Health Management (C), it seems that the employees of Compensation Negotiation 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.
Interest costs
– Compare to the competition, Compensation Negotiation 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, Compensation Negotiation is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Name Your Price: Compensation Negotiation at Whole Health Management (C) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High cash cycle compare to competitors
Compensation Negotiation 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.
Skills based hiring
– The stress on hiring functional specialists at Compensation Negotiation 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.
High operating costs
– Compare to the competitors, firm in the HBR case study Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Compensation Negotiation 's lucrative customers.
Lack of clear differentiation of Compensation Negotiation products
– To increase the profitability and margins on the products, Compensation Negotiation needs to provide more differentiated products than what it is currently offering in the marketplace.
Capital Spending Reduction
– Even during the low interest decade, Compensation Negotiation 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.
Opportunities Name Your Price: Compensation Negotiation at Whole Health Management (C) | 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) are -
Creating value in data economy
– The success of analytics program of Compensation Negotiation has opened avenues for new revenue streams for the organization in the industry. This can help Compensation Negotiation to build a more holistic ecosystem as suggested in the Name Your Price: Compensation Negotiation at Whole Health Management (C) case study. Compensation Negotiation can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Compensation Negotiation can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Building a culture of innovation
– managers at Compensation Negotiation 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. Compensation Negotiation 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. Compensation Negotiation 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Compensation Negotiation 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 Compensation Negotiation to hire the very best people irrespective of their geographical location.
Loyalty marketing
– Compensation Negotiation 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Compensation Negotiation 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, Compensation Negotiation can use these opportunities to build new business models that can help the communities that Compensation Negotiation operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
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 Compensation Negotiation 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Compensation Negotiation 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Compensation Negotiation 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, Name Your Price: Compensation Negotiation at Whole Health Management (C), to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Leveraging digital technologies
– Compensation Negotiation 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.
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 Compensation Negotiation in the consumer business. Now Compensation Negotiation can target international markets with far fewer capital restrictions requirements than the existing system.
Threats Name Your Price: Compensation Negotiation at Whole Health Management (C) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Name Your Price: Compensation Negotiation at Whole Health Management (C) are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Compensation Negotiation 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.
Consumer confidence and its impact on Compensation Negotiation 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.
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. Compensation Negotiation needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Compensation Negotiation with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
Stagnating economy with rate increase
– Compensation Negotiation 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Compensation Negotiation 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) .
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 Compensation Negotiation.
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 Compensation Negotiation in the Leadership & Managing People sector and impact the bottomline of the organization.
High dependence on third party suppliers
– Compensation Negotiation 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.
Regulatory challenges
– Compensation Negotiation 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.
Increasing wage structure of Compensation Negotiation
– 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 Compensation Negotiation.
Shortening product life cycle
– it is one of the major threat that Compensation Negotiation is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Name Your Price: Compensation Negotiation at Whole Health Management (C) 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 Compensation Negotiation needs to make to build a sustainable competitive advantage.