Deliverable 5: Healthy Dynamics (HD) SWOT Analysis
Healthy Dynamics (HD) SWOT Analysis
As Healthy Dynamics (HD) develops its comprehensive strategy, it’s critical to know where the firm is strong, where it’s weak, what strong possibilities the corporation may pursue, and what challenges it might face. An authentic assessment of the strengths and prospects that are sturdy and inventive is the first step in overcoming the faults and hazards of Healthy Dynamics. Therefore, this paper identifies the strengths, weaknesses, opportunities, and threats of Healthy Dynamics, which is critical in developing a strategic plan for the organization and is accomplished through SWOT analysis, which considers both internal and external elements that may impact discovering capabilities (Esfahani, Mosadeghrad & Akbarisari, 2018).
|The Healthy Dynamics (HD) has numerous positions that it may leverage to grow its customers and revenue.
Is strategically positioned: The regular position of the Healthy Dynamics on the five-story structure gives it a conspicuous landmark that clients can quickly locate. This, along with convenient access roads, an onsite restaurant, exercise center, and breakrooms, makes it quite appealing.
Uniqueness: The organization stands out among the competition as a facility that provides high-quality health services and a café and breakroom on site, making it very appealing to most guests who may relax before or after medical treatment. These services include health assessments, biometric screenings, and telephonic health coaching.
Adequate employees: The company has many employees (over 500). Thus, at all levels of management, the firm has a group of highly qualified professionals who ensure that clients receive the best possible professional services. Employees are taught in various areas to ensure that the company’s requirements are met in all areas and generate accurate healthcare improvement techniques under careful assessment by the CEO.
(Gordon & Pollack, 2018)
|The following are the flaws that the firm is suffering from due to its success.
Yet to establish itself: Healthy Dynamics has yet to establish itself as a renowned company within the health and wellness business. The little that has been accomplished is in jeopardy since figures on telephonic conversations show a considerable decline of 25% in the previous year.
Cafeteria staff costs: The cafeteria staff is not employees of Healthy Dynamics, yet it costs the company $500,000 annually.
Inadequate capital: Healthy Dynamics has many workers with significant salary bills that are not fiscally sustainable to retain in the current economic climate. The corporation must assess its salary bill and capital expenditures to stay solvent.
No actual sales: Healthy Dynamics is now facing a reduction in customer attendance and no significant sales. This indicates the possibility of bankruptcy in the coming years.
(Gordon & Pollack, 2018)
|The following are some of the opportunities available to the Healthy Dynamics company.
High demand for biometric screenings: The requests for onsite biometric screenings have increased by 15 percent. This rise is accompanied by an increase in the population, which is more likely to require medical treatment and well-being.
The growing demand for specialized medical care due to lifestyle illnesses: More people are becoming victims of lifestyle-related ailments due to inadequate living and eating habits, necessitating specialized medical treatment. This presents the organization with a fantastic chance to expand its client base by advertising its services.
(Benzaghta et al., 2021)
|The following are the potential hazards to the Healthy Dynamics company’s growth and profitability.
Dry up of market demand: According to the data, demand for telephonic coaching calls has decreased by 25%, indicating a significant drop in public demand.
The decline of revenue: Over the previous five years, Healthy Dynamics’ income has decreased by 15-25 percent. The firm will go bankrupt if this tendency proceeds for the next two years.
The economy: The country’s collective economic growth has significantly impacted the economy, threatening the people’s financial capacity and thus threatening the company. As a result, numerous significant players or clients in various areas of the economy have gone bankrupt and thus tend to focus on other things rather than the company’s services.
(Benzaghta et al., 2021)
Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), 55-73. https://digitalcommons.usf.edu/globe/vol6/iss1/5/
Esfahani, P., Mosadeghrad, A.M. and Akbarisari, A. (2018). The success of strategic planning in health care organizations of Iran. International Journal of Health Care Quality Assurance, 31(6), 563-574. https://doi.org/10.1108/IJHCQA-08-2017-0145
Gordon, A., & Pollack, J. (2018). Managing Healthcare Integration. Project Management Journal, 49(5), 5-21. https://doi.org/10.1177/8756972818785321