Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Covidien analyses the brand by its strengths, weaknesses, opportunities & threats. In Covidien SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Covidien to benchmark its business & performance as compared to the competitors. Covidien is one of the leading brands in the pharma and healthcare sector.
The article below lists the Covidien SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Covidien SWOT Analysis:
For Covidien, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Covidien looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Covidien :
1. Diverse portfolio of products 2. One of the few global healthcare products leader 3. Commitment to social responsibility 4. Niche market leader
5. Brand name is strong in the healthcare industry
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Covidien SWOT Analysis:
1. Expiring patents is a concern 2.Young company compared to competitors 3.Weak history of partnerships, acquistions 4.Low debt to equity ratio is a concern
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Covidien SWOT Analysis:
1. Geographical expansion 2.Philanthropic efforts 3.Online presence and brand building
4. Energy and Vascular business
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Covidien are as mentioned:
1.Focus on continuous innovation 2.Recently spun off from parent company – Tyco International 3.Strong management needed to guide company through difficult period
4.Conformance to ethical and legal issues
5. Huge debt constrains management from exploring growth opportunities
There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Covidien:
Value system of accountability, compassion, collaboration and diversity
Medical devices and supplies, imaging solutions, and pharmaceuticals worldwide, for use in both the clinical setting and at home.
Hospitals, surgical centers, imaging centers, drug manufacturers, pharmacies, and other retailers
Innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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