Week 8

Reflection On Mayo Clinic Swot Analysis

The Mayo Clinic SWOT analysis is structured into internal and external factors. The internal factors are those that are connected to strengths and weaknesses. The external factors are characterized by opportunities and threats. All these factors show some of the ways the company has managed to stay resilient and perform well in the world of business supplying soft drinks. The Strengths have been allocated with regards to the way the company performs in the market. For instance, Mayo Clinic has huge brand equity as compared to other competitors in the same industry. This is an implication that it does well when it comes to brand awareness and making sure that customers can access them freely (Young & Ballarin, 2006). The global presence of the company from an online platform is also a significant contributor to its strength, and this had to be considered having in mind that it has overpowered other companies that are running the same business.

The weaknesses of the company are clear, and this affects it from an internal perspective. The health care industry has many players, and Cleveland Clinic is one of them. Cleveland Clinic has relatively high brand equity, and in that case, it poses a stiff competition that Mayo Clinic has to strive to survive. This section of the SWOT was well done as it went wide to focus on other eatables. It shows that Mayo Clinic has majored on online provision of medical care whereas a competitor such as Cleveland Clinic has gone ahead to offer some more inhouse forms of medication. Most people chose to go for in-house medication, and in that case, Mayo Clinic has failed to cover this niche. A gap exists in this aspect, and the company needs to reconsider its options to accommodate the same.

The opportunities that are bestowed to Mayo Clinic are comprehensive and clear. Most developing nations need to have foreign direct investments and multinational companies operating in their territories. This is because they will benefit from the kind of employment opportunities that will have been formed by the same. This part of the SWOT was well done as it touched on an economic area that does not affect the company when looked from an internal perspective. In addition, this part also shows that there is a growing number of people who would want to enjoy checking medical information online. In that case, the company has identified a gap, and it has the intention of filling it up. This is evident where it rolled a new website and ensure that people can access it freely (Young & Ballarin, 2006). This is a complete indication of a company that has studied the market and identified areas that need to be satisfied. Any change that occurs in this aspect will be handled based on the kind of competition that comes to play.

The threats section of the SWOT analysis shows that Mayo Clinic is not faced with many troubles. It only has to make sure that its source of raw material is stable. The company needs a number of people to maintain its online websites at all times. The websites also need to be updated every time and only a few people are ever present or available to make this happen. Therefore, it has to find individuals who are well conversant with IT and most of them might have been poached by the competitors companies (Berry & Seltman, 2008). This is an external factor that it has to handle effectively. Other companies such as Ronald Reagan UCLA Medical Centre take part in the training of its employees on how to be technologically advanced and sane.

References

Berry, L. L., & Seltman, K. D. (2008). Management lessons from Mayo clinic (p. 4). McGraw-Hill Professional Publishing.

Young, D. W., & Ballarin, E. (2006). Strategic decision‐making in healthcare organizations: it is time to get serious. The International journal of health planning and management, 21(3), 173-191.