BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Finance & Accounting
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged)
Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) is an Indian not-for-profit organization engaged in assisting differently-abled persons by providing them with the legendary low-cost prosthesis, the Jaipur Foot, and other mobility-assisting devices, free of cost. Known for its patient-centric culture, its focus on innovation, and for developing the $20 Stanford-Jaipur knee, BMVSS has assisted over a million people in its lifetime of 44 years. As the founder, Mr. D.R. Mehta, thinks about the financial sustainability of BMVSS, he must devise a strategy that will sustain its human impact well into the future.
Authors :: Srikant M. Datar, Saloni Chaturvedi, Caitlin N. Bowler
Swot Analysis of "BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged)" written by Srikant M. Datar, Saloni Chaturvedi, Caitlin N. Bowler includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Bmvss Jaipur facing as an external strategic factors. Some of the topics covered in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) case study are - Strategic Management Strategies, Growth strategy, Health and Finance & Accounting.
Some of the macro environment factors that can be used to understand the BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) casestudy better are - – cloud computing is disrupting traditional business models, technology disruption, there is backlash against globalization, increasing energy prices, challanges to central banks by blockchain based private currencies, customer relationship management is fast transforming because of increasing concerns over data privacy, geopolitical disruptions,
there is increasing trade war between United States & China, banking and financial system is disrupted by Bitcoin and other crypto currencies, etc
Introduction to SWOT Analysis of BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Bmvss Jaipur, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Bmvss Jaipur 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) can be done for the following purposes –
1. Strategic planning using facts provided in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) case study
2. Improving business portfolio management of Bmvss Jaipur
3. Assessing feasibility of the new initiative in Finance & Accounting field.
4. Making a Finance & Accounting topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Bmvss Jaipur
Strengths BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Bmvss Jaipur in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) Harvard Business Review case study are -
High switching costs
– The high switching costs that Bmvss Jaipur 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.
Analytics focus
– Bmvss Jaipur 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 Srikant M. Datar, Saloni Chaturvedi, Caitlin N. Bowler 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.
Innovation driven organization
– Bmvss Jaipur is one of the most innovative firm in sector. Manager in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Effective Research and Development (R&D)
– Bmvss Jaipur 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) - 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
– Bmvss Jaipur has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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.
Superior customer experience
– The customer experience strategy of Bmvss Jaipur in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Strong track record of project management
– Bmvss Jaipur is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Diverse revenue streams
– Bmvss Jaipur is present in almost all the verticals within the industry. This has provided firm in BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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.
Operational resilience
– The operational resilience strategy in the BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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.
Organizational Resilience of Bmvss Jaipur
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Bmvss Jaipur does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Successful track record of launching new products
– Bmvss Jaipur has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Bmvss Jaipur has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Digital Transformation in Finance & Accounting segment
- digital transformation varies from industry to industry. For Bmvss Jaipur digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Bmvss Jaipur 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.
Weaknesses BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) are -
Low market penetration in new markets
– Outside its home market of Bmvss Jaipur, firm in the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 Bmvss Jaipur has relatively successful track record of launching new products.
No frontier risks strategy
– After analyzing the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), it seems that company is thinking about the frontier risks that can impact Finance & Accounting 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Bmvss Jaipur 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 Bmvss Jaipur supply chain. Even after few cautionary changes mentioned in the HBR case study - BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Bmvss Jaipur vulnerable to further global disruptions in South East Asia.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), is just above the industry average. Bmvss Jaipur 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), it seems that the employees of Bmvss Jaipur 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.
High operating costs
– Compare to the competitors, firm in the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 Bmvss Jaipur 's lucrative customers.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), in the dynamic environment Bmvss Jaipur has struggled to respond to the nimble upstart competition. Bmvss Jaipur has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
Bmvss Jaipur 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.
Products dominated business model
– Even though Bmvss Jaipur 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 - BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) should strive to include more intangible value offerings along with its core products and services.
Opportunities BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) | 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) are -
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 Bmvss Jaipur 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Bmvss Jaipur 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, BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Using analytics as competitive advantage
– Bmvss Jaipur 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Bmvss Jaipur to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Loyalty marketing
– Bmvss Jaipur 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 Finance & Accounting industry, but it has also influenced the consumer preferences. Bmvss Jaipur can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Bmvss Jaipur can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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 Bmvss Jaipur in the consumer business. Now Bmvss Jaipur can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for Bmvss Jaipur 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.
Leveraging digital technologies
– Bmvss Jaipur 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.
Creating value in data economy
– The success of analytics program of Bmvss Jaipur has opened avenues for new revenue streams for the organization in the industry. This can help Bmvss Jaipur to build a more holistic ecosystem as suggested in the BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) case study. Bmvss Jaipur can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Better consumer reach
– The expansion of the 5G network will help Bmvss Jaipur to increase its market reach. Bmvss Jaipur 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Bmvss Jaipur 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 Bmvss Jaipur to hire the very best people irrespective of their geographical location.
Developing new processes and practices
– Bmvss Jaipur can develop new processes and procedures in Finance & Accounting 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.
Threats BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 Bmvss Jaipur business can come under increasing regulations regarding data privacy, data security, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged), Bmvss Jaipur may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Finance & Accounting .
Stagnating economy with rate increase
– Bmvss Jaipur 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 Bmvss Jaipur is facing in Finance & Accounting sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Bmvss Jaipur in the Finance & Accounting sector and impact the bottomline of the organization.
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. Bmvss Jaipur needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.
Increasing wage structure of Bmvss Jaipur
– 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 Bmvss Jaipur.
High dependence on third party suppliers
– Bmvss Jaipur 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.
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 Bmvss Jaipur.
Consumer confidence and its impact on Bmvss Jaipur 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.
Environmental challenges
– Bmvss Jaipur 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. Bmvss Jaipur can take advantage of this fund but it will also bring new competitors in the Finance & Accounting industry.
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.
Weighted SWOT Analysis of BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 BMVSS: Changing Lives through Innovation One Jaipur Limb at a Time (Abridged) 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 Bmvss Jaipur needs to make to build a sustainable competitive advantage.
