Practical and Ethical Problems in Damage Evaluation and Claims SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Practical and Ethical Problems in Damage Evaluation and Claims
This technical note briefly discusses some fundamental issues related to damage evaluation and claim introducing some important practical and ethical problems associated with it. It is important to immediately highlight that this issue is becoming increasingly important for managers and decision makers around the world for at least three reasons. First, globalization and increased use of technological and operational complexity increases the exposure of companies to material and immaterial damages. Thus, managers often have to deal with the quantification of damages in the context of trials, arbitrations and out-of-court settlements. Second, the legislations of European and North American countries are progressively increasing the liability of top managers for the eventual damages caused by their decisions to the company and to critical stakeholders such as customers, suppliers and partners. Third, the spread of consumers' associations, and the even more frequent use of class actions, is increasing the number of legal proceedings against companies.
Swot Analysis of "Practical and Ethical Problems in Damage Evaluation and Claims" written by Antonino Vaccaro includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Damages Damage facing as an external strategic factors. Some of the topics covered in Practical and Ethical Problems in Damage Evaluation and Claims case study are - Strategic Management Strategies, and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Practical and Ethical Problems in Damage Evaluation and Claims casestudy better are - – technology disruption, banking and financial system is disrupted by Bitcoin and other crypto currencies, talent flight as more people leaving formal jobs, digital marketing is dominated by two big players Facebook and Google, increasing government debt because of Covid-19 spendings, competitive advantages are harder to sustain because of technology dispersion, geopolitical disruptions,
increasing commodity prices, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of Practical and Ethical Problems in Damage Evaluation and Claims
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Practical and Ethical Problems in Damage Evaluation and Claims case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Damages Damage, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Damages Damage 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 Practical and Ethical Problems in Damage Evaluation and Claims can be done for the following purposes –
1. Strategic planning using facts provided in Practical and Ethical Problems in Damage Evaluation and Claims case study
2. Improving business portfolio management of Damages Damage
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 Damages Damage
Strengths Practical and Ethical Problems in Damage Evaluation and Claims | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Damages Damage in Practical and Ethical Problems in Damage Evaluation and Claims Harvard Business Review case study are -
Operational resilience
– The operational resilience strategy in the Practical and Ethical Problems in Damage Evaluation and Claims 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.
Effective Research and Development (R&D)
– Damages Damage 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 Practical and Ethical Problems in Damage Evaluation and Claims - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Superior customer experience
– The customer experience strategy of Damages Damage in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
High brand equity
– Damages Damage has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Damages Damage to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Organizational Resilience of Damages Damage
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Damages Damage does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Cross disciplinary teams
– Horizontal connected teams at the Damages Damage are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Training and development
– Damages Damage has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Practical and Ethical Problems in Damage Evaluation and Claims 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.
Low bargaining power of suppliers
– Suppliers of Damages Damage in the sector have low bargaining power. Practical and Ethical Problems in Damage Evaluation and Claims has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Damages Damage to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Damages Damage 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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Damages Damage digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Damages Damage 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.
Successful track record of launching new products
– Damages Damage has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Damages Damage 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.
Diverse revenue streams
– Damages Damage is present in almost all the verticals within the industry. This has provided firm in Practical and Ethical Problems in Damage Evaluation and Claims 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.
Weaknesses Practical and Ethical Problems in Damage Evaluation and Claims | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Practical and Ethical Problems in Damage Evaluation and Claims are -
Lack of clear differentiation of Damages Damage products
– To increase the profitability and margins on the products, Damages Damage needs to provide more differentiated products than what it is currently offering in the marketplace.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Practical and Ethical Problems in Damage Evaluation and Claims, in the dynamic environment Damages Damage has struggled to respond to the nimble upstart competition. Damages Damage has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Increasing silos among functional specialists
– The organizational structure of Damages Damage is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Damages Damage needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Damages Damage to focus more on services rather than just following the product oriented approach.
High bargaining power of channel partners
– Because of the regulatory requirements, Antonino Vaccaro suggests that, Damages Damage 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.
No frontier risks strategy
– After analyzing the HBR case study Practical and Ethical Problems in Damage Evaluation and Claims, it seems that company is thinking about the frontier risks that can impact Leadership & Managing People strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Slow to strategic competitive environment developments
– As Practical and Ethical Problems in Damage Evaluation and Claims HBR case study mentions - Damages Damage 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.
Capital Spending Reduction
– Even during the low interest decade, Damages Damage 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Damages Damage 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 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 Damages Damage supply chain. Even after few cautionary changes mentioned in the HBR case study - Practical and Ethical Problems in Damage Evaluation and Claims, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Damages Damage vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Damages Damage is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Practical and Ethical Problems in Damage Evaluation and Claims can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Low market penetration in new markets
– Outside its home market of Damages Damage, firm in the HBR case study Practical and Ethical Problems in Damage Evaluation and Claims needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities Practical and Ethical Problems in Damage Evaluation and Claims | 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 Practical and Ethical Problems in Damage Evaluation and Claims are -
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Damages Damage can use these opportunities to build new business models that can help the communities that Damages Damage operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Developing new processes and practices
– Damages Damage 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.
Using analytics as competitive advantage
– Damages Damage has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Practical and Ethical Problems in Damage Evaluation and Claims - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Damages Damage to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Leveraging digital technologies
– Damages Damage 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.
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. Damages Damage 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. Damages Damage 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. Damages Damage can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Manufacturing automation
– Damages Damage 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.
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. Damages Damage can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Damages Damage 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, Practical and Ethical Problems in Damage Evaluation and Claims, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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 Damages Damage in the consumer business. Now Damages Damage can target international markets with far fewer capital restrictions requirements than the existing system.
Loyalty marketing
– Damages Damage 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 Damages Damage to increase its market reach. Damages Damage 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.
Learning at scale
– Online learning technologies has now opened space for Damages Damage to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Threats Practical and Ethical Problems in Damage Evaluation and Claims External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Practical and Ethical Problems in Damage Evaluation and Claims are -
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.
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 Damages Damage business can come under increasing regulations regarding data privacy, data security, etc.
Stagnating economy with rate increase
– Damages Damage 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.
Shortening product life cycle
– it is one of the major threat that Damages Damage is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Increasing wage structure of Damages Damage
– 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 Damages Damage.
Consumer confidence and its impact on Damages Damage demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Technology 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.
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 Damages Damage in the Leadership & Managing People sector and impact the bottomline of the organization.
Environmental challenges
– Damages Damage 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. Damages Damage can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Regulatory challenges
– Damages Damage 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Practical and Ethical Problems in Damage Evaluation and Claims, Damages Damage 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 .
High dependence on third party suppliers
– Damages Damage 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.
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. Damages Damage can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Weighted SWOT Analysis of Practical and Ethical Problems in Damage Evaluation and Claims 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 Practical and Ethical Problems in Damage Evaluation and Claims 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 Practical and Ethical Problems in Damage Evaluation and Claims 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 Practical and Ethical Problems in Damage Evaluation and Claims 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 Practical and Ethical Problems in Damage Evaluation and Claims 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 Damages Damage needs to make to build a sustainable competitive advantage.
