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 – central banks are concerned over increasing inflation, digital marketing is dominated by two big players Facebook and Google, increasing commodity prices, increasing transportation and logistics costs, increasing household debt because of falling income levels, banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion,
there is increasing trade war between United States & China, increasing energy prices, 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 -
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.
Innovation driven organization
– Hangzhou Tigermed Consulting is one of the most innovative firm in Healthcare Facilities sector.
Superior customer experience
– The customer experience strategy of Hangzhou Tigermed Consulting in Healthcare Facilities industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
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.
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.
Effective Research and Development (R&D)
– Hangzhou Tigermed Consulting has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Hangzhou Tigermed Consulting staying ahead in the Healthcare Facilities industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
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.
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.
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.
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.
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.
Learning organization
- Hangzhou Tigermed Consulting 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 Hangzhou Tigermed Consulting is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Hangzhou Tigermed Consulting emphasize – knowledge, initiative, and innovation.
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 -
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.
Employees’ less understanding of Hangzhou Tigermed Consulting strategy
– From the outside it seems that the employees of Hangzhou Tigermed Consulting 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.
Aligning sales with marketing
– From the outside it seems that Hangzhou Tigermed Consulting needs to have more collaboration between its sales team and marketing team. Sales professionals in the Healthcare Facilities industry have deep experience in developing customer relationships. Marketing department at Hangzhou Tigermed Consulting can leverage the sales team experience to cultivate customer relationships as Hangzhou Tigermed Consulting is planning to shift buying processes online.
Products dominated business model
– Even though Hangzhou Tigermed Consulting has some of the most successful models in the Healthcare Facilities industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Hangzhou Tigermed Consulting should strive to include more intangible value offerings along with its core products and services.
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.
High operating costs
– Compare to the competitors, Hangzhou Tigermed Consulting has high operating costs in the Healthcare Facilities industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Hangzhou Tigermed Consulting lucrative customers.
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 cash cycle compare to competitors
Hangzhou Tigermed Consulting has a high cash cycle compare to other players in the Healthcare Facilities industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
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.
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 to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Hangzhou Tigermed Consulting is slow explore the new channels of communication. These new channels of communication can help Hangzhou Tigermed Consulting to provide better information regarding Healthcare Facilities products and services. It can also build an online community to further reach out to potential customers.
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 -
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.
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.
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.
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. Hangzhou Tigermed Consulting can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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 Hangzhou Tigermed Consulting 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.
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.
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.
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.
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.
Changes in consumer behavior post Covid-19
– consumer behavior has changed in the Healthcare Facilities industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Hangzhou Tigermed Consulting 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. Hangzhou Tigermed Consulting 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.
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.
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.
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 -
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.
High dependence on third party suppliers
– Hangzhou Tigermed Consulting 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.
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.
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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, Hangzhou Tigermed Consulting may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Healthcare Facilities sector.
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.
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.
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.
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 Hangzhou Tigermed Consulting.
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.
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.
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.
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.