John Hancock Preferredome II Closed (HPF) SWOT Analysis / TOWS Matrix / MBA Resources
Misc. Financial Services
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for John Hancock Preferredome II Closed (United States)
Based on various researches at Oak Spring University , John Hancock Preferredome II Closed is operating in a macro-environment that has been destablized by – there is backlash against globalization, customer relationship management is fast transforming because of increasing concerns over data privacy, there is increasing trade war between United States & China, increasing energy prices, talent flight as more people leaving formal jobs, competitive advantages are harder to sustain because of technology dispersion, banking and financial system is disrupted by Bitcoin and other crypto currencies,
wage bills are increasing, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of John Hancock Preferredome II Closed
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that John Hancock Preferredome II Closed can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the John Hancock Preferredome II Closed, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed can be done for the following purposes –
1. Strategic planning of John Hancock Preferredome II Closed
2. Improving business portfolio management of John Hancock Preferredome II Closed
3. Assessing feasibility of the new initiative in United States
4. Making a Misc. Financial Services sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of John Hancock Preferredome II Closed
Strengths of John Hancock Preferredome II Closed | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of John Hancock Preferredome II Closed are -
Operational resilience
– The operational resilience strategy of John Hancock Preferredome II Closed comprises – understanding the underlying the factors in the Misc. Financial Services 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.
Highly skilled collaborators
– John Hancock Preferredome II Closed has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Misc. Financial Services industry. Secondly the value chain collaborators of John Hancock Preferredome II Closed have helped the firm to develop new products and bring them quickly to the marketplace.
Innovation driven organization
– John Hancock Preferredome II Closed is one of the most innovative firm in Misc. Financial Services sector.
Learning organization
- John Hancock Preferredome II Closed is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at John Hancock Preferredome II Closed is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at John Hancock Preferredome II Closed emphasize – knowledge, initiative, and innovation.
High switching costs
– The high switching costs that John Hancock Preferredome II Closed 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.
High brand equity
– John Hancock Preferredome II Closed has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled John Hancock Preferredome II Closed to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Sustainable margins compare to other players in Misc. Financial Services industry
– John Hancock Preferredome II Closed has clearly differentiated products in the market place. This has enabled John Hancock Preferredome II Closed to fetch slight price premium compare to the competitors in the Misc. Financial Services industry. The sustainable margins have also helped John Hancock Preferredome II Closed to invest into research and development (R&D) and innovation.
Cross disciplinary teams
– Horizontal connected teams at the John Hancock Preferredome II Closed 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
– John Hancock Preferredome II Closed has one of the best training and development program in Financial 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.
Successful track record of launching new products
– John Hancock Preferredome II Closed has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. John Hancock Preferredome II Closed 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.
Ability to lead change in Misc. Financial Services
– John Hancock Preferredome II Closed is one of the leading players in the Misc. Financial Services industry in United States. Over the years it has not only transformed the business landscape in the Misc. Financial Services industry in United States but also across the existing markets. The ability to lead change has enabled John Hancock Preferredome II Closed in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Strong track record of project management in the Misc. Financial Services industry
– John Hancock Preferredome II Closed is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses of John Hancock Preferredome II Closed | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of John Hancock Preferredome II Closed are -
Aligning sales with marketing
– From the outside it seems that John Hancock Preferredome II Closed needs to have more collaboration between its sales team and marketing team. Sales professionals in the Misc. Financial Services industry have deep experience in developing customer relationships. Marketing department at John Hancock Preferredome II Closed can leverage the sales team experience to cultivate customer relationships as John Hancock Preferredome II Closed is planning to shift buying processes online.
Ability to respond to the competition
– As the decision making is very deliberative at John Hancock Preferredome II Closed, in the dynamic environment of Misc. Financial Services industry it has struggled to respond to the nimble upstart competition. John Hancock Preferredome II Closed has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Capital Spending Reduction
– Even during the low interest decade, John Hancock Preferredome II Closed 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 Misc. Financial Services industry using digital technology.
High operating costs
– Compare to the competitors, John Hancock Preferredome II Closed has high operating costs in the Misc. Financial Services industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract John Hancock Preferredome II Closed lucrative customers.
Increasing silos among functional specialists
– The organizational structure of John Hancock Preferredome II Closed is dominated by functional specialists. It is not different from other players in the Misc. Financial Services industry, but John Hancock Preferredome II Closed needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help John Hancock Preferredome II Closed to focus more on services in the Misc. Financial Services industry rather than just following the product oriented approach.
Products dominated business model
– Even though John Hancock Preferredome II Closed has some of the most successful models in the Misc. Financial Services industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. John Hancock Preferredome II Closed should strive to include more intangible value offerings along with its core products and services.
Slow to strategic competitive environment developments
– As John Hancock Preferredome II Closed is one of the leading players in the Misc. Financial Services industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Misc. Financial Services industry in last five years.
No frontier risks strategy
– From the 10K / annual statement of John Hancock Preferredome II Closed, it seems that company is thinking out the frontier risks that can impact Misc. Financial Services industry. 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 harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, John Hancock Preferredome II Closed is slow explore the new channels of communication. These new channels of communication can help John Hancock Preferredome II Closed to provide better information regarding Misc. Financial Services products and services. It can also build an online community to further reach out to potential customers.
High dependence on John Hancock Preferredome II Closed ‘s star products
– The top 2 products and services of John Hancock Preferredome II Closed still accounts for major business revenue. This dependence on star products in Misc. Financial Services industry has resulted into insufficient focus on developing new products, even though John Hancock Preferredome II Closed has relatively successful track record of launching new products.
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 John Hancock Preferredome II Closed supply chain. Even after few cautionary changes, John Hancock Preferredome II Closed is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left John Hancock Preferredome II Closed vulnerable to further global disruptions in South East Asia.
John Hancock Preferredome II Closed Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of John Hancock Preferredome II Closed are -
Developing new processes and practices
– John Hancock Preferredome II Closed can develop new processes and procedures in Misc. Financial Services industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Misc. Financial Services industry, but it has also influenced the consumer preferences. John Hancock Preferredome II Closed can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Manufacturing automation
– John Hancock Preferredome II Closed can use the latest technology developments to improve its manufacturing and designing process in Misc. Financial Services sector. 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.
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 John Hancock Preferredome II Closed 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for John Hancock Preferredome II Closed in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Misc. Financial Services industry, and it will provide faster access to the consumers.
Leveraging digital technologies
– John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed has opened avenues for new revenue streams for the organization in Misc. Financial Services industry. This can help John Hancock Preferredome II Closed to build a more holistic ecosystem for John Hancock Preferredome II Closed products in the Misc. Financial Services industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Changes in consumer behavior post Covid-19
– consumer behavior has changed in the Misc. Financial Services industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. John Hancock Preferredome II Closed 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. John Hancock Preferredome II Closed 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.
Using analytics as competitive advantage
– John Hancock Preferredome II Closed has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Misc. Financial Services sector. This continuous investment in analytics has enabled John Hancock Preferredome II Closed to build a competitive advantage using analytics. The analytics driven competitive advantage can help John Hancock Preferredome II Closed to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Learning at scale
– Online learning technologies has now opened space for John Hancock Preferredome II Closed 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, John Hancock Preferredome II Closed 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, John Hancock Preferredome II Closed is facing challenges because of the dominance of functional experts in the organization. John Hancock Preferredome II Closed can utilize new technology in the field of Misc. Financial Services industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Use of Bitcoin and other crypto currencies for transactions in Misc. Financial Services industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for John Hancock Preferredome II Closed in the Misc. Financial Services industry. Now John Hancock Preferredome II Closed can target international markets with far fewer capital restrictions requirements than the existing system.
Threats John Hancock Preferredome II Closed External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of John Hancock Preferredome II Closed are -
Consumer confidence and its impact on John Hancock Preferredome II Closed 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 Misc. Financial Services industry and other sectors.
Easy access to finance
– Easy access to finance in Misc. Financial Services industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. John Hancock Preferredome II Closed can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Technology acceleration in Forth Industrial Revolution
– John Hancock Preferredome II Closed has witnessed rapid integration of technology during Covid-19 in the Misc. Financial Services industry. As one of the leading players in the industry, John Hancock Preferredome II Closed needs to keep up with the evolution of technology in the Misc. Financial Services sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
High dependence on third party suppliers
– John Hancock Preferredome II Closed 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.
Increasing wage structure of John Hancock Preferredome II Closed
– 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 John Hancock Preferredome II Closed.
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.
Environmental challenges
– John Hancock Preferredome II Closed 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. John Hancock Preferredome II Closed can take advantage of this fund but it will also bring new competitors in the Misc. Financial Services industry.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for John Hancock Preferredome II Closed in Misc. Financial Services industry. The Misc. Financial Services 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.
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. John Hancock Preferredome II Closed 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.
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.
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 John Hancock Preferredome II Closed.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed prominent markets.
Shortening product life cycle
– it is one of the major threat that John Hancock Preferredome II Closed is facing in Misc. Financial Services sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of John Hancock Preferredome II Closed Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed 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 John Hancock Preferredome II Closed needs to make to build a sustainable competitive advantage.
