Inner Mongolia Furui Med Sci (300049) SWOT Analysis / TOWS Matrix / MBA Resources

Introduction to SWOT Analysis

SWOT Analysis / TOWS Matrix for Inner Mongolia Furui Med Sci (China)

Based on various researches at Oak Spring University , Inner Mongolia Furui Med Sci is operating in a macro-environment that has been destablized by – increasing inequality as vast percentage of new income is going to the top 1%, challanges to central banks by blockchain based private currencies, there is increasing trade war between United States & China, supply chains are disrupted by pandemic , increasing government debt because of Covid-19 spendings, increasing household debt because of falling income levels, banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing transportation and logistics costs, talent flight as more people leaving formal jobs, etc

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Introduction to SWOT Analysis of Inner Mongolia Furui Med Sci

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Inner Mongolia Furui Med Sci can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Inner Mongolia Furui Med Sci, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Inner Mongolia Furui Med Sci 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.

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SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix

SWOT analysis of Inner Mongolia Furui Med Sci can be done for the following purposes –
1. Strategic planning of Inner Mongolia Furui Med Sci
2. Improving business portfolio management of Inner Mongolia Furui Med Sci
3. Assessing feasibility of the new initiative in China
4. Making a Medical Equipment & Supplies sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Inner Mongolia Furui Med Sci

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Strengths of Inner Mongolia Furui Med Sci | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Inner Mongolia Furui Med Sci are -

Diverse revenue streams

– Inner Mongolia Furui Med Sci is present in almost all the verticals within the Medical Equipment & Supplies industry. This has provided Inner Mongolia Furui Med Sci 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.

High brand equity

– Inner Mongolia Furui Med Sci has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Inner Mongolia Furui Med Sci to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Strong track record of project management in the Medical Equipment & Supplies industry

– Inner Mongolia Furui Med Sci is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.

Ability to recruit top talent

– Inner Mongolia Furui Med Sci is one of the leading players in the Medical Equipment & Supplies industry in China. It is in a position to attract the best talent available in China. The firm has a robust talent identification program that helps in identifying the brightest.

Low bargaining power of suppliers

– Suppliers of Inner Mongolia Furui Med Sci in the Healthcare sector have low bargaining power. Inner Mongolia Furui Med Sci has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Inner Mongolia Furui Med Sci to manage not only supply disruptions but also source products at highly competitive prices.

Operational resilience

– The operational resilience strategy of Inner Mongolia Furui Med Sci comprises – understanding the underlying the factors in the Medical Equipment & Supplies 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.

Ability to lead change in Medical Equipment & Supplies

– Inner Mongolia Furui Med Sci is one of the leading players in the Medical Equipment & Supplies industry in China. Over the years it has not only transformed the business landscape in the Medical Equipment & Supplies industry in China but also across the existing markets. The ability to lead change has enabled Inner Mongolia Furui Med Sci in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

Organizational Resilience of Inner Mongolia Furui Med Sci

– The covid-19 pandemic has put organizational resilience at the centre of everthing Inner Mongolia Furui Med Sci does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.

Analytics focus

– Inner Mongolia Furui Med Sci is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the Medical Equipment & Supplies industry. The technology infrastructure of China is also helping it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.

Sustainable margins compare to other players in Medical Equipment & Supplies industry

– Inner Mongolia Furui Med Sci has clearly differentiated products in the market place. This has enabled Inner Mongolia Furui Med Sci to fetch slight price premium compare to the competitors in the Medical Equipment & Supplies industry. The sustainable margins have also helped Inner Mongolia Furui Med Sci to invest into research and development (R&D) and innovation.

Cross disciplinary teams

– Horizontal connected teams at the Inner Mongolia Furui Med Sci 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.

Effective Research and Development (R&D)

– Inner Mongolia Furui Med Sci has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Inner Mongolia Furui Med Sci staying ahead in the Medical Equipment & Supplies industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.

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Weaknesses of Inner Mongolia Furui Med Sci | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Inner Mongolia Furui Med Sci are -

High operating costs

– Compare to the competitors, Inner Mongolia Furui Med Sci has high operating costs in the Medical Equipment & Supplies industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Inner Mongolia Furui Med Sci lucrative customers.

Skills based hiring in Medical Equipment & Supplies industry

– The stress on hiring functional specialists at Inner Mongolia Furui Med Sci 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.

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Inner Mongolia Furui Med Sci is slow explore the new channels of communication. These new channels of communication can help Inner Mongolia Furui Med Sci to provide better information regarding Medical Equipment & Supplies products and services. It can also build an online community to further reach out to potential customers.

High bargaining power of channel partners in Medical Equipment & Supplies industry

– because of the regulatory requirements in China, Inner Mongolia Furui Med Sci 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 Medical Equipment & Supplies industry.

Interest costs

– Compare to the competition, Inner Mongolia Furui Med Sci 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.

Lack of clear differentiation of Inner Mongolia Furui Med Sci products

– To increase the profitability and margins on the products, Inner Mongolia Furui Med Sci needs to provide more differentiated products than what it is currently offering in the marketplace.

High dependence on Inner Mongolia Furui Med Sci ‘s star products

– The top 2 products and services of Inner Mongolia Furui Med Sci still accounts for major business revenue. This dependence on star products in Medical Equipment & Supplies industry has resulted into insufficient focus on developing new products, even though Inner Mongolia Furui Med Sci has relatively successful track record of launching new products.

Slow decision making process

– As mentioned earlier in the report, Inner Mongolia Furui Med Sci has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Medical Equipment & Supplies industry over the last five years. Inner Mongolia Furui Med Sci 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.

Capital Spending Reduction

– Even during the low interest decade, Inner Mongolia Furui Med Sci 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 Medical Equipment & Supplies industry using digital technology.

Low market penetration in new markets

– Outside its home market of China, Inner Mongolia Furui Med Sci needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.

Need for greater diversity

– Inner Mongolia Furui Med Sci 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.

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Inner Mongolia Furui Med Sci Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The opportunities of Inner Mongolia Furui Med Sci are -

Creating value in data economy

– The success of analytics program of Inner Mongolia Furui Med Sci has opened avenues for new revenue streams for the organization in Medical Equipment & Supplies industry. This can help Inner Mongolia Furui Med Sci to build a more holistic ecosystem for Inner Mongolia Furui Med Sci products in the Medical Equipment & Supplies industry by providing – data insight services, data privacy related products, data based consulting services, etc.

Manufacturing automation

– Inner Mongolia Furui Med Sci can use the latest technology developments to improve its manufacturing and designing process in Medical Equipment & Supplies 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.

Low interest rates

– Even though inflation is raising its head in most developed economies, Inner Mongolia Furui Med Sci 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.

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. Inner Mongolia Furui Med Sci can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Inner Mongolia Furui Med Sci 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 Inner Mongolia Furui Med Sci to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Increase in government spending

– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Inner Mongolia Furui Med Sci can use these opportunities to build new business models that can help the communities that Inner Mongolia Furui Med Sci operates in. Secondly it can use opportunities from government spending in Medical Equipment & Supplies sector.

Better consumer reach

– The expansion of the 5G network will help Inner Mongolia Furui Med Sci to increase its market reach. Inner Mongolia Furui Med Sci 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.

Building a culture of innovation

– managers at Inner Mongolia Furui Med Sci 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 Medical Equipment & Supplies industry.

Developing new processes and practices

– Inner Mongolia Furui Med Sci can develop new processes and procedures in Medical Equipment & Supplies 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.

Leveraging digital technologies

– Inner Mongolia Furui Med Sci 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.

Use of Bitcoin and other crypto currencies for transactions in Medical Equipment & Supplies industry

– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Inner Mongolia Furui Med Sci in the Medical Equipment & Supplies industry. Now Inner Mongolia Furui Med Sci can target international markets with far fewer capital restrictions requirements than the existing system.

Buying journey improvements

– Inner Mongolia Furui Med Sci can improve the customer journey of consumers in the Medical Equipment & Supplies 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.

Using analytics as competitive advantage

– Inner Mongolia Furui Med Sci has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Medical Equipment & Supplies sector. This continuous investment in analytics has enabled Inner Mongolia Furui Med Sci to build a competitive advantage using analytics. The analytics driven competitive advantage can help Inner Mongolia Furui Med Sci to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.

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Threats Inner Mongolia Furui Med Sci External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats of Inner Mongolia Furui Med Sci are -

Increasing wage structure of Inner Mongolia Furui Med Sci

– 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 Inner Mongolia Furui Med Sci.

Environmental challenges

– Inner Mongolia Furui Med Sci 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. Inner Mongolia Furui Med Sci can take advantage of this fund but it will also bring new competitors in the Medical Equipment & Supplies industry.

Aging population

– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.

Technology acceleration in Forth Industrial Revolution

– Inner Mongolia Furui Med Sci has witnessed rapid integration of technology during Covid-19 in the Medical Equipment & Supplies industry. As one of the leading players in the industry, Inner Mongolia Furui Med Sci needs to keep up with the evolution of technology in the Medical Equipment & Supplies 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.

Consumer confidence and its impact on Inner Mongolia Furui Med Sci 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 Medical Equipment & Supplies industry and other sectors.

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. Inner Mongolia Furui Med Sci 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.

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 Inner Mongolia Furui Med Sci in the Medical Equipment & Supplies sector and impact the bottomline 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 Inner Mongolia Furui Med Sci.

Learning curve for new practices

– As the technology based on artificial intelligence and machine learning platform is getting complex, Inner Mongolia Furui Med Sci may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Medical Equipment & Supplies sector.

Easy access to finance

– Easy access to finance in Medical Equipment & Supplies industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Inner Mongolia Furui Med Sci can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Inner Mongolia Furui Med Sci in Medical Equipment & Supplies industry. The Medical Equipment & Supplies 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.

High dependence on third party suppliers

– Inner Mongolia Furui Med Sci 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 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.

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Weighted SWOT Analysis of Inner Mongolia Furui Med Sci Template, Example

Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Inner Mongolia Furui Med Sci 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 Inner Mongolia Furui Med Sci 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 Inner Mongolia Furui Med Sci 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 Inner Mongolia Furui Med Sci 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 Inner Mongolia Furui Med Sci needs to make to build a sustainable competitive advantage.

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