SWOT Analysis / TOWS Matrix for Hangzhou Tigermed Consulting (China)
Based on various researches at Oak Spring University , Hangzhou Tigermed Consulting is operating in a macro-environment that has been destablized by – customer relationship management is fast transforming because of increasing concerns over data privacy, increasing government debt because of Covid-19 spendings, increasing commodity prices, increasing inequality as vast percentage of new income is going to the top 1%, cloud computing is disrupting traditional business models, supply chains are disrupted by pandemic , wage bills are increasing,
talent flight as more people leaving formal jobs, challanges to central banks by blockchain based private currencies, etc
Introduction to SWOT Analysis of Hangzhou Tigermed Consulting
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Hangzhou Tigermed Consulting can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Hangzhou Tigermed Consulting, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting can be done for the following purposes –
1. Strategic planning of Hangzhou Tigermed Consulting
2. Improving business portfolio management of Hangzhou Tigermed Consulting
3. Assessing feasibility of the new initiative in China
4. Making a Healthcare Facilities sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Hangzhou Tigermed Consulting
Strengths of Hangzhou Tigermed Consulting | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Hangzhou Tigermed Consulting are -
High brand equity
– Hangzhou Tigermed Consulting has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Hangzhou Tigermed Consulting to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Sustainable margins compare to other players in Healthcare Facilities industry
– Hangzhou Tigermed Consulting has clearly differentiated products in the market place. This has enabled Hangzhou Tigermed Consulting to fetch slight price premium compare to the competitors in the Healthcare Facilities industry. The sustainable margins have also helped Hangzhou Tigermed Consulting to invest into research and development (R&D) and innovation.
Cross disciplinary teams
– Horizontal connected teams at the Hangzhou Tigermed Consulting 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.
Ability to lead change in Healthcare Facilities
– Hangzhou Tigermed Consulting is one of the leading players in the Healthcare Facilities industry in China. Over the years it has not only transformed the business landscape in the Healthcare Facilities industry in China but also across the existing markets. The ability to lead change has enabled Hangzhou Tigermed Consulting 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 Healthcare Facilities industry
– Hangzhou Tigermed Consulting 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
– Hangzhou Tigermed Consulting has one of the best training and development program in Healthcare 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.
Low bargaining power of suppliers
– Suppliers of Hangzhou Tigermed Consulting in the Healthcare sector have low bargaining power. Hangzhou Tigermed Consulting has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Hangzhou Tigermed Consulting to manage not only supply disruptions but also source products at highly competitive prices.
Digital Transformation in Healthcare Facilities industry
- digital transformation varies from industry to industry. For Hangzhou Tigermed Consulting digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Hangzhou Tigermed Consulting 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.
Highly skilled collaborators
– Hangzhou Tigermed Consulting has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Healthcare Facilities industry. Secondly the value chain collaborators of Hangzhou Tigermed Consulting have helped the firm to develop new products and bring them quickly to the marketplace.
Diverse revenue streams
– Hangzhou Tigermed Consulting is present in almost all the verticals within the Healthcare Facilities industry. This has provided Hangzhou Tigermed Consulting a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Successful track record of launching new products
– Hangzhou Tigermed Consulting has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Hangzhou Tigermed Consulting 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.
High switching costs
– The high switching costs that Hangzhou Tigermed Consulting 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.
Weaknesses of Hangzhou Tigermed Consulting | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Hangzhou Tigermed Consulting are -
Compensation and incentives
– The revenue per employee of Hangzhou Tigermed Consulting is just above the Healthcare Facilities 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.
High bargaining power of channel partners in Healthcare Facilities industry
– because of the regulatory requirements in China, Hangzhou Tigermed Consulting 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 Healthcare Facilities industry.
Workers concerns about automation
– As automation is fast increasing in the Healthcare Facilities industry, Hangzhou Tigermed Consulting 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.
Low market penetration in new markets
– Outside its home market of China, Hangzhou Tigermed Consulting needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Increasing silos among functional specialists
– The organizational structure of Hangzhou Tigermed Consulting is dominated by functional specialists. It is not different from other players in the Healthcare Facilities industry, but Hangzhou Tigermed Consulting needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Hangzhou Tigermed Consulting to focus more on services in the Healthcare Facilities industry rather than just following the product oriented approach.
Lack of clear differentiation of Hangzhou Tigermed Consulting products
– To increase the profitability and margins on the products, Hangzhou Tigermed Consulting needs to provide more differentiated products than what it is currently offering in the marketplace.
Capital Spending Reduction
– Even during the low interest decade, Hangzhou Tigermed Consulting 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 Healthcare Facilities industry using digital technology.
Skills based hiring in Healthcare Facilities industry
– The stress on hiring functional specialists at Hangzhou Tigermed Consulting has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative at Hangzhou Tigermed Consulting, in the dynamic environment of Healthcare Facilities industry it has struggled to respond to the nimble upstart competition. Hangzhou Tigermed Consulting has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
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 Hangzhou Tigermed Consulting supply chain. Even after few cautionary changes, Hangzhou Tigermed Consulting is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Hangzhou Tigermed Consulting vulnerable to further global disruptions in South East Asia.
Slow decision making process
– As mentioned earlier in the report, Hangzhou Tigermed Consulting has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Healthcare Facilities industry over the last five years. Hangzhou Tigermed Consulting even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Hangzhou Tigermed Consulting Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Hangzhou Tigermed Consulting are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Low interest rates
– Even though inflation is raising its head in most developed economies, Hangzhou Tigermed Consulting 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.
Creating value in data economy
– The success of analytics program of Hangzhou Tigermed Consulting has opened avenues for new revenue streams for the organization in Healthcare Facilities industry. This can help Hangzhou Tigermed Consulting to build a more holistic ecosystem for Hangzhou Tigermed Consulting products in the Healthcare Facilities industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Better consumer reach
– The expansion of the 5G network will help Hangzhou Tigermed Consulting to increase its market reach. Hangzhou Tigermed Consulting 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Hangzhou Tigermed Consulting can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Leveraging digital technologies
– Hangzhou Tigermed Consulting 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Hangzhou Tigermed Consulting is facing challenges because of the dominance of functional experts in the organization. Hangzhou Tigermed Consulting can utilize new technology in the field of Healthcare Facilities industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Developing new processes and practices
– Hangzhou Tigermed Consulting can develop new processes and procedures in Healthcare Facilities 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.
Manufacturing automation
– Hangzhou Tigermed Consulting can use the latest technology developments to improve its manufacturing and designing process in Healthcare Facilities 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Hangzhou Tigermed Consulting has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Healthcare Facilities sector. This continuous investment in analytics has enabled Hangzhou Tigermed Consulting to build a competitive advantage using analytics. The analytics driven competitive advantage can help Hangzhou Tigermed Consulting to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Use of Bitcoin and other crypto currencies for transactions in Healthcare Facilities industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Hangzhou Tigermed Consulting in the Healthcare Facilities industry. Now Hangzhou Tigermed Consulting can target international markets with far fewer capital restrictions requirements than the existing system.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Hangzhou Tigermed Consulting in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Healthcare Facilities industry, and it will provide faster access to the consumers.
Threats Hangzhou Tigermed Consulting External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Hangzhou Tigermed Consulting are -
Shortening product life cycle
– it is one of the major threat that Hangzhou Tigermed Consulting is facing in Healthcare Facilities 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 Hangzhou Tigermed Consulting in the Healthcare Facilities sector and impact the bottomline of the organization.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to Healthcare Facilities industry are lowering. It can presents Hangzhou Tigermed Consulting with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Healthcare Facilities sector.
Consumer confidence and its impact on Hangzhou Tigermed Consulting 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 Healthcare Facilities 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 Hangzhou Tigermed Consulting in Healthcare Facilities industry. The Healthcare Facilities 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting prominent markets.
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.
Technology acceleration in Forth Industrial Revolution
– Hangzhou Tigermed Consulting has witnessed rapid integration of technology during Covid-19 in the Healthcare Facilities industry. As one of the leading players in the industry, Hangzhou Tigermed Consulting needs to keep up with the evolution of technology in the Healthcare Facilities 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.
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 Hangzhou Tigermed Consulting business can come under increasing regulations regarding data privacy, data security, etc.
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. Hangzhou Tigermed Consulting 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.
Stagnating economy with rate increase
– Hangzhou Tigermed Consulting 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 Healthcare Facilities industry.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Hangzhou Tigermed Consulting needs to understand the core reasons impacting the Healthcare Facilities industry. This will help it in building a better workplace.
Regulatory challenges
– Hangzhou Tigermed Consulting 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 Healthcare Facilities industry regulations.
Weighted SWOT Analysis of Hangzhou Tigermed Consulting Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting needs to make to build a sustainable competitive advantage.
