How Managers Can Lower Mental Illness Costs by Reducing Stigma SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of How Managers Can Lower Mental Illness Costs by Reducing Stigma
The stigma associated with mental illness is not usually an issue that managers include in their portfolio of everyday concerns. However, published data from multiple sources makes it clear that the costs of doing business for any organization are increased when the very common conditions characterized as mental illnesses are stigmatized. Denial, fear of discovery, and insurance inadequacy among an organization's employees often delay treatment, harming organizational productivity and raising health care costs related to both the mental illness itself and associated medical conditions. Additional costs to businesses range from the possibility of increased liability to higher taxes. To counter stigma among employees, the authors recommend personal communication with co-workers diagnosed with a mental illness, or with members of their families, to create new associations for these illnesses, which is a more effective approach than either education or anti-stigma messages. They also recommend communication to constituencies beyond one's own organization, joining with other companies to demonstrate actions aimed at community-wide stigma reduction, and to offer consulting services to organizations promoting mental health.
Swot Analysis of "How Managers Can Lower Mental Illness Costs by Reducing Stigma" written by Betsy Gelb, Patrick W. Corrigan includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Stigma Mental facing as an external strategic factors. Some of the topics covered in How Managers Can Lower Mental Illness Costs by Reducing Stigma case study are - Strategic Management Strategies, Health, Personnel policies and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the How Managers Can Lower Mental Illness Costs by Reducing Stigma casestudy better are - – customer relationship management is fast transforming because of increasing concerns over data privacy, increasing household debt because of falling income levels, technology disruption, banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, there is backlash against globalization, increasing energy prices,
digital marketing is dominated by two big players Facebook and Google, there is increasing trade war between United States & China, etc
Introduction to SWOT Analysis of How Managers Can Lower Mental Illness Costs by Reducing Stigma
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in How Managers Can Lower Mental Illness Costs by Reducing Stigma case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Stigma Mental, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Stigma Mental 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma can be done for the following purposes –
1. Strategic planning using facts provided in How Managers Can Lower Mental Illness Costs by Reducing Stigma case study
2. Improving business portfolio management of Stigma Mental
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 Stigma Mental
Strengths How Managers Can Lower Mental Illness Costs by Reducing Stigma | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Stigma Mental in How Managers Can Lower Mental Illness Costs by Reducing Stigma Harvard Business Review case study are -
Sustainable margins compare to other players in Leadership & Managing People industry
– How Managers Can Lower Mental Illness Costs by Reducing Stigma firm has clearly differentiated products in the market place. This has enabled Stigma Mental to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Stigma Mental to invest into research and development (R&D) and innovation.
Effective Research and Development (R&D)
– Stigma Mental 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Training and development
– Stigma Mental has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in How Managers Can Lower Mental Illness Costs by Reducing Stigma 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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Stigma Mental digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Stigma Mental has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Highly skilled collaborators
– Stigma Mental 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High brand equity
– Stigma Mental has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Stigma Mental to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Learning organization
- Stigma Mental 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 Stigma Mental is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in How Managers Can Lower Mental Illness Costs by Reducing Stigma Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
High switching costs
– The high switching costs that Stigma Mental 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.
Strong track record of project management
– Stigma Mental is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Superior customer experience
– The customer experience strategy of Stigma Mental in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Operational resilience
– The operational resilience strategy in the How Managers Can Lower Mental Illness Costs by Reducing Stigma 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.
Innovation driven organization
– Stigma Mental is one of the most innovative firm in sector. Manager in How Managers Can Lower Mental Illness Costs by Reducing Stigma Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Weaknesses How Managers Can Lower Mental Illness Costs by Reducing Stigma | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of How Managers Can Lower Mental Illness Costs by Reducing Stigma are -
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study How Managers Can Lower Mental Illness Costs by Reducing Stigma, it seems that the employees of Stigma Mental 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.
Skills based hiring
– The stress on hiring functional specialists at Stigma Mental 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.
Capital Spending Reduction
– Even during the low interest decade, Stigma Mental 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.
Products dominated business model
– Even though Stigma Mental 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 - How Managers Can Lower Mental Illness Costs by Reducing Stigma should strive to include more intangible value offerings along with its core products and services.
Need for greater diversity
– Stigma Mental has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
High cash cycle compare to competitors
Stigma Mental 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study How Managers Can Lower Mental Illness Costs by Reducing Stigma, is just above the industry average. Stigma Mental needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Lack of clear differentiation of Stigma Mental products
– To increase the profitability and margins on the products, Stigma Mental needs to provide more differentiated products than what it is currently offering in the marketplace.
Increasing silos among functional specialists
– The organizational structure of Stigma Mental is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Stigma Mental needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Stigma Mental to focus more on services rather than just following the product oriented approach.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 Stigma Mental has relatively successful track record of launching new products.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study How Managers Can Lower Mental Illness Costs by Reducing Stigma, in the dynamic environment Stigma Mental has struggled to respond to the nimble upstart competition. Stigma Mental has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Opportunities How Managers Can Lower Mental Illness Costs by Reducing Stigma | 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma are -
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 Stigma Mental in the consumer business. Now Stigma Mental can target international markets with far fewer capital restrictions requirements than the existing system.
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 Stigma Mental 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Stigma Mental is facing challenges because of the dominance of functional experts in the organization. How Managers Can Lower Mental Illness Costs by Reducing Stigma 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.
Buying journey improvements
– Stigma Mental can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. How Managers Can Lower Mental Illness Costs by Reducing Stigma suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Loyalty marketing
– Stigma Mental 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.
Better consumer reach
– The expansion of the 5G network will help Stigma Mental to increase its market reach. Stigma Mental 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Stigma Mental can use these opportunities to build new business models that can help the communities that Stigma Mental operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
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. Stigma Mental 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. Stigma Mental 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Stigma Mental can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Stigma Mental 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 Stigma Mental to hire the very best people irrespective of their geographical location.
Building a culture of innovation
– managers at Stigma Mental 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.
Developing new processes and practices
– Stigma Mental 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.
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. Stigma Mental can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Threats How Managers Can Lower Mental Illness Costs by Reducing Stigma External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 Stigma Mental.
High dependence on third party suppliers
– Stigma Mental 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.
Consumer confidence and its impact on Stigma Mental 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.
Easy access to finance
– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Stigma Mental can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing wage structure of Stigma Mental
– 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 Stigma Mental.
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. Stigma Mental 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.
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. Stigma Mental needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
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 Stigma Mental in the Leadership & Managing People sector and impact the bottomline of the organization.
Stagnating economy with rate increase
– Stigma Mental 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
– Stigma Mental 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.
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 Stigma Mental business can come under increasing regulations regarding data privacy, data security, etc.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Stigma Mental 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.
Weighted SWOT Analysis of How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 How Managers Can Lower Mental Illness Costs by Reducing Stigma 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 Stigma Mental needs to make to build a sustainable competitive advantage.