Based on various researches at Oak Spring University , Gabelli Healthcare WellnessRx Pb Pr is operating in a macro-environment that has been destablized by – cloud computing is disrupting traditional business models, digital marketing is dominated by two big players Facebook and Google, increasing transportation and logistics costs, customer relationship management is fast transforming because of increasing concerns over data privacy, there is backlash against globalization, wage bills are increasing, increasing government debt because of Covid-19 spendings,
challanges to central banks by blockchain based private currencies, increasing commodity prices, etc
Introduction to SWOT Analysis of Gabelli Healthcare WellnessRx Pb Pr
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Gabelli Healthcare WellnessRx Pb Pr can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Gabelli Healthcare WellnessRx Pb Pr, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr can be done for the following purposes –
1. Strategic planning of Gabelli Healthcare WellnessRx Pb Pr
2. Improving business portfolio management of Gabelli Healthcare WellnessRx Pb Pr
3. Assessing feasibility of the new initiative in United States
4. Making a sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Gabelli Healthcare WellnessRx Pb Pr
Strengths of Gabelli Healthcare WellnessRx Pb Pr | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Gabelli Healthcare WellnessRx Pb Pr are -
Organizational Resilience of Gabelli Healthcare WellnessRx Pb Pr
– The covid-19 pandemic has put organizational resilience at the centre of everthing Gabelli Healthcare WellnessRx Pb Pr does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Innovation driven organization
– Gabelli Healthcare WellnessRx Pb Pr is one of the most innovative firm in sector.
Strong track record of project management in the industry
– Gabelli Healthcare WellnessRx Pb Pr is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Training and development
– Gabelli Healthcare WellnessRx Pb Pr has one of the best training and development program in industry. The effectiveness of the training programs can be measured in – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Ability to recruit top talent
– Gabelli Healthcare WellnessRx Pb Pr is one of the leading players in the industry in United States. It is in a position to attract the best talent available in United States. The firm has a robust talent identification program that helps in identifying the brightest.
High switching costs
– The high switching costs that Gabelli Healthcare WellnessRx Pb Pr 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.
Highly skilled collaborators
– Gabelli Healthcare WellnessRx Pb Pr has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive industry. Secondly the value chain collaborators of Gabelli Healthcare WellnessRx Pb Pr have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to lead change in
– Gabelli Healthcare WellnessRx Pb Pr is one of the leading players in the industry in United States. Over the years it has not only transformed the business landscape in the industry in United States but also across the existing markets. The ability to lead change has enabled Gabelli Healthcare WellnessRx Pb Pr in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Successful track record of launching new products
– Gabelli Healthcare WellnessRx Pb Pr has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Gabelli Healthcare WellnessRx Pb Pr 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.
Cross disciplinary teams
– Horizontal connected teams at the Gabelli Healthcare WellnessRx Pb Pr 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.
Digital Transformation in industry
- digital transformation varies from industry to industry. For Gabelli Healthcare WellnessRx Pb Pr digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Gabelli Healthcare WellnessRx Pb Pr 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.
Effective Research and Development (R&D)
– Gabelli Healthcare WellnessRx Pb Pr has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Gabelli Healthcare WellnessRx Pb Pr staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Weaknesses of Gabelli Healthcare WellnessRx Pb Pr | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Gabelli Healthcare WellnessRx Pb Pr are -
Lack of clear differentiation of Gabelli Healthcare WellnessRx Pb Pr products
– To increase the profitability and margins on the products, Gabelli Healthcare WellnessRx Pb Pr 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 at Gabelli Healthcare WellnessRx Pb Pr, in the dynamic environment of industry it has struggled to respond to the nimble upstart competition. Gabelli Healthcare WellnessRx Pb Pr has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Compensation and incentives
– The revenue per employee of Gabelli Healthcare WellnessRx Pb Pr is just above the industry average. It 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.
Capital Spending Reduction
– Even during the low interest decade, Gabelli Healthcare WellnessRx Pb Pr 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.
Low market penetration in new markets
– Outside its home market of United States, Gabelli Healthcare WellnessRx Pb Pr needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Interest costs
– Compare to the competition, Gabelli Healthcare WellnessRx Pb Pr 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.
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 Gabelli Healthcare WellnessRx Pb Pr supply chain. Even after few cautionary changes, Gabelli Healthcare WellnessRx Pb Pr is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Gabelli Healthcare WellnessRx Pb Pr vulnerable to further global disruptions in South East Asia.
Increasing silos among functional specialists
– The organizational structure of Gabelli Healthcare WellnessRx Pb Pr is dominated by functional specialists. It is not different from other players in the industry, but Gabelli Healthcare WellnessRx Pb Pr needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Gabelli Healthcare WellnessRx Pb Pr to focus more on services in the industry rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As Gabelli Healthcare WellnessRx Pb Pr is one of the leading players in the industry, it 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Gabelli Healthcare WellnessRx Pb Pr is slow explore the new channels of communication. These new channels of communication can help Gabelli Healthcare WellnessRx Pb Pr to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Need for greater diversity
– Gabelli Healthcare WellnessRx Pb Pr 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.
Gabelli Healthcare WellnessRx Pb Pr Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Gabelli Healthcare WellnessRx Pb Pr are -
Building a culture of innovation
– managers at Gabelli Healthcare WellnessRx Pb Pr 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 industry.
Use of Bitcoin and other crypto currencies for transactions in industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Gabelli Healthcare WellnessRx Pb Pr in the industry. Now Gabelli Healthcare WellnessRx Pb Pr can target international markets with far fewer capital restrictions requirements than the existing system.
Buying journey improvements
– Gabelli Healthcare WellnessRx Pb Pr can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. It 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Gabelli Healthcare WellnessRx Pb Pr can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Gabelli Healthcare WellnessRx Pb Pr in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the industry, and it will provide faster access to the consumers.
Leveraging digital technologies
– Gabelli Healthcare WellnessRx Pb Pr 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Gabelli Healthcare WellnessRx Pb Pr can use these opportunities to build new business models that can help the communities that Gabelli Healthcare WellnessRx Pb Pr operates in. Secondly it can use opportunities from government spending in sector.
Learning at scale
– Online learning technologies has now opened space for Gabelli Healthcare WellnessRx Pb Pr 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.
Using analytics as competitive advantage
– Gabelli Healthcare WellnessRx Pb Pr has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in sector. This continuous investment in analytics has enabled Gabelli Healthcare WellnessRx Pb Pr to build a competitive advantage using analytics. The analytics driven competitive advantage can help Gabelli Healthcare WellnessRx Pb Pr to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Gabelli Healthcare WellnessRx Pb Pr can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Gabelli Healthcare WellnessRx Pb Pr is facing challenges because of the dominance of functional experts in the organization. Gabelli Healthcare WellnessRx Pb Pr can utilize new technology in the field of industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Loyalty marketing
– Gabelli Healthcare WellnessRx Pb Pr 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.
Developing new processes and practices
– Gabelli Healthcare WellnessRx Pb Pr can develop new processes and procedures in 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 Gabelli Healthcare WellnessRx Pb Pr External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Gabelli Healthcare WellnessRx Pb Pr are -
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Gabelli Healthcare WellnessRx Pb Pr can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate Gabelli Healthcare WellnessRx Pb Pr prominent markets.
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 Gabelli Healthcare WellnessRx Pb Pr in the 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. Gabelli Healthcare WellnessRx Pb Pr needs to understand the core reasons impacting the industry. This will help it in building a better workplace.
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 Gabelli Healthcare WellnessRx Pb Pr 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, Gabelli Healthcare WellnessRx Pb Pr may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of sector.
High dependence on third party suppliers
– Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr.
Consumer confidence and its impact on Gabelli Healthcare WellnessRx Pb Pr 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 industry and other sectors.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Gabelli Healthcare WellnessRx Pb Pr in industry. The 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.
Regulatory challenges
– Gabelli Healthcare WellnessRx Pb Pr 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 industry regulations.
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.
Increasing wage structure of Gabelli Healthcare WellnessRx Pb Pr
– 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 Gabelli Healthcare WellnessRx Pb Pr.
Stagnating economy with rate increase
– Gabelli Healthcare WellnessRx Pb Pr 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 industry.
Weighted SWOT Analysis of Gabelli Healthcare WellnessRx Pb Pr Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr 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 Gabelli Healthcare WellnessRx Pb Pr needs to make to build a sustainable competitive advantage.