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 - – cloud computing is disrupting traditional business models, there is backlash against globalization, increasing transportation and logistics costs, talent flight as more people leaving formal jobs, supply chains are disrupted by pandemic , increasing government debt because of Covid-19 spendings, increasing energy prices,
technology disruption, digital marketing is dominated by two big players Facebook and Google, 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 -
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.
Ability to recruit top talent
– Stigma Mental is one of the leading recruiters in the industry. Managers in the How Managers Can Lower Mental Illness Costs by Reducing Stigma are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Sustainable margins compare to other players in Leadership & Managing People industry
– 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.
Diverse revenue streams
– Stigma Mental is present in almost all the verticals within the industry. This has provided firm in How Managers Can Lower Mental Illness Costs by Reducing Stigma 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.
Successful track record of launching new products
– Stigma Mental has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Stigma Mental 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.
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.
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.
Organizational Resilience of Stigma Mental
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Stigma Mental does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Ability to lead change in Leadership & Managing People field
– Stigma Mental 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 Stigma Mental in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Stigma Mental 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 Betsy Gelb, Patrick W. Corrigan 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.
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.
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 -
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.
Slow to strategic competitive environment developments
– As How Managers Can Lower Mental Illness Costs by Reducing Stigma HBR case study mentions - Stigma Mental 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Betsy Gelb, Patrick W. Corrigan suggests that, Stigma Mental 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.
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.
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.
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.
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 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 Stigma Mental supply chain. Even after few cautionary changes mentioned in the HBR case study - How Managers Can Lower Mental Illness Costs by Reducing Stigma, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Stigma Mental vulnerable to further global disruptions in South East Asia.
Interest costs
– Compare to the competition, Stigma Mental 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.
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.
Workers concerns about automation
– As automation is fast increasing in the segment, Stigma Mental 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.
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 -
Lowering marketing communication costs
– 5G expansion will open new opportunities for Stigma Mental 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.
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.
Leveraging digital technologies
– Stigma Mental 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Stigma Mental 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, How Managers Can Lower Mental Illness Costs by Reducing Stigma, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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.
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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Stigma Mental can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Manufacturing automation
– Stigma Mental 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.
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. Stigma Mental can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
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.
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.
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 -
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.
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.
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.
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.
Shortening product life cycle
– it is one of the major threat that Stigma Mental is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study How Managers Can Lower Mental Illness Costs by Reducing Stigma, Stigma Mental 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
– Stigma Mental 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. Stigma Mental can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
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.
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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Stigma Mental with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
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.