Curriculum Associates: Turning the Page from Tradition to Innovation SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Curriculum Associates: Turning the Page from Tradition to Innovation
Set in Fall 2014, the traditional textbook publishing industry is being transformed by technological innovations and new student achievement standards. This case chronicles how Rob Waldron, CEO, and his team bring Curriculum Associates (CA), a traditional supplemental publishing company, up to date amidst the changing publishing landscape. Founded in 1969, CA established a reputation as a pioneering workbook company specializing in helping teachers deliver targeted intervention for students in the classroom. As Waldron stepped into his role as CEO in 2008, he set about leveraging CA's existing educational expertise and relationships with school districts to take it from a traditional supplemental publishing company to a competitive player in the educational technology space. Waldron and the CA team-through innovations in curricular design, investments in technology, and a rigorous understanding of the Common Core State Standards-landed on a hit modular digital assessment and print-based workbook series called ReadyA?, ReadyA? Common Core, and i-ReadyA? Diagnostic and Instruction. In 2014, as sales are booming, Waldron and his team wonder how CA can stay competitive in the rapidly evolving publishing and education technology landscape while growing sustainably and building on its existing competitive advantage. The case gives students the opportunity to explore how a small or medium-sized privately-owned company can leverage its strengths and innovate while grappling with the challenges of providing software-as-a-service in the education sector, a leap for a company used to selling directly to schools and school districts.
Swot Analysis of "Curriculum Associates: Turning the Page from Tradition to Innovation" written by John J-H Kim, Christine S. An includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Waldron Readya facing as an external strategic factors. Some of the topics covered in Curriculum Associates: Turning the Page from Tradition to Innovation case study are - Strategic Management Strategies, Growth strategy, Product development, Sales, Technology and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Curriculum Associates: Turning the Page from Tradition to Innovation casestudy better are - – supply chains are disrupted by pandemic , increasing household debt because of falling income levels, customer relationship management is fast transforming because of increasing concerns over data privacy, banking and financial system is disrupted by Bitcoin and other crypto currencies, geopolitical disruptions, digital marketing is dominated by two big players Facebook and Google, central banks are concerned over increasing inflation,
increasing commodity prices, technology disruption, etc
Introduction to SWOT Analysis of Curriculum Associates: Turning the Page from Tradition to Innovation
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Curriculum Associates: Turning the Page from Tradition to Innovation case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Waldron Readya, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Waldron Readya 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 Curriculum Associates: Turning the Page from Tradition to Innovation can be done for the following purposes –
1. Strategic planning using facts provided in Curriculum Associates: Turning the Page from Tradition to Innovation case study
2. Improving business portfolio management of Waldron Readya
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Waldron Readya
Strengths Curriculum Associates: Turning the Page from Tradition to Innovation | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Waldron Readya in Curriculum Associates: Turning the Page from Tradition to Innovation Harvard Business Review case study are -
Innovation driven organization
– Waldron Readya is one of the most innovative firm in sector. Manager in Curriculum Associates: Turning the Page from Tradition to Innovation Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Ability to recruit top talent
– Waldron Readya is one of the leading recruiters in the industry. Managers in the Curriculum Associates: Turning the Page from Tradition to Innovation are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
High switching costs
– The high switching costs that Waldron Readya has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Ability to lead change in Leadership & Managing People field
– Waldron Readya is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Waldron Readya in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High brand equity
– Waldron Readya has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Waldron Readya to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Highly skilled collaborators
– Waldron Readya has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Curriculum Associates: Turning the Page from Tradition to Innovation HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Analytics focus
– Waldron Readya 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 industry. The technology infrastructure suggested by John J-H Kim, Christine S. An can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Training and development
– Waldron Readya has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Curriculum Associates: Turning the Page from Tradition to Innovation Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Sustainable margins compare to other players in Leadership & Managing People industry
– Curriculum Associates: Turning the Page from Tradition to Innovation firm has clearly differentiated products in the market place. This has enabled Waldron Readya to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Waldron Readya to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Waldron Readya in the sector have low bargaining power. Curriculum Associates: Turning the Page from Tradition to Innovation has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Waldron Readya to manage not only supply disruptions but also source products at highly competitive prices.
Learning organization
- Waldron Readya 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 Waldron Readya is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Curriculum Associates: Turning the Page from Tradition to Innovation Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Successful track record of launching new products
– Waldron Readya has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Waldron Readya 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.
Weaknesses Curriculum Associates: Turning the Page from Tradition to Innovation | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Curriculum Associates: Turning the Page from Tradition to Innovation are -
Skills based hiring
– The stress on hiring functional specialists at Waldron Readya 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation, it seems that the employees of Waldron Readya 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.
Low market penetration in new markets
– Outside its home market of Waldron Readya, firm in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Interest costs
– Compare to the competition, Waldron Readya 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Curriculum Associates: Turning the Page from Tradition to Innovation, in the dynamic environment Waldron Readya has struggled to respond to the nimble upstart competition. Waldron Readya has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High operating costs
– Compare to the competitors, firm in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Waldron Readya 's lucrative customers.
Aligning sales with marketing
– It come across in the case study Curriculum Associates: Turning the Page from Tradition to Innovation that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Curriculum Associates: Turning the Page from Tradition to Innovation can leverage the sales team experience to cultivate customer relationships as Waldron Readya is planning to shift buying processes online.
High cash cycle compare to competitors
Waldron Readya has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Increasing silos among functional specialists
– The organizational structure of Waldron Readya is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Waldron Readya needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Waldron Readya to focus more on services rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As Curriculum Associates: Turning the Page from Tradition to Innovation HBR case study mentions - Waldron Readya takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation, is just above the industry average. Waldron Readya 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.
Opportunities Curriculum Associates: Turning the Page from Tradition to Innovation | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Curriculum Associates: Turning the Page from Tradition to Innovation are -
Building a culture of innovation
– managers at Waldron Readya 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 Leadership & Managing People segment.
Creating value in data economy
– The success of analytics program of Waldron Readya has opened avenues for new revenue streams for the organization in the industry. This can help Waldron Readya to build a more holistic ecosystem as suggested in the Curriculum Associates: Turning the Page from Tradition to Innovation case study. Waldron Readya can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Buying journey improvements
– Waldron Readya can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Curriculum Associates: Turning the Page from Tradition to Innovation suggest that firm 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.
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. Waldron Readya can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Waldron Readya is facing challenges because of the dominance of functional experts in the organization. Curriculum Associates: Turning the Page from Tradition to Innovation case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Waldron Readya in the consumer business. Now Waldron Readya can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for Waldron Readya to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Manufacturing automation
– Waldron Readya can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People segment. 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Waldron Readya can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Waldron Readya 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, as suggested in case study, Curriculum Associates: Turning the Page from Tradition to Innovation, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Waldron Readya in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.
Leveraging digital technologies
– Waldron Readya 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Waldron Readya can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats Curriculum Associates: Turning the Page from Tradition to Innovation External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation are -
Environmental challenges
– Waldron Readya 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. Waldron Readya can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Shortening product life cycle
– it is one of the major threat that Waldron Readya is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Regulatory challenges
– Waldron Readya 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 Leadership & Managing People industry regulations.
Easy access to finance
– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Waldron Readya can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing wage structure of Waldron Readya
– 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 Waldron Readya.
Stagnating economy with rate increase
– Waldron Readya 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 field.
High dependence on third party suppliers
– Waldron Readya 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Waldron Readya can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation .
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
– Waldron Readya has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Waldron Readya needs to keep up with the evolution of technology in the Leadership & Managing People 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Waldron Readya in the Leadership & Managing People industry. The Leadership & Managing People 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.
Consumer confidence and its impact on Waldron Readya 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 the 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. Waldron Readya 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.
Weighted SWOT Analysis of Curriculum Associates: Turning the Page from Tradition to Innovation Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Curriculum Associates: Turning the Page from Tradition to Innovation 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 the case study Curriculum Associates: Turning the Page from Tradition to Innovation 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 the Harvard case study Curriculum Associates: Turning the Page from Tradition to Innovation 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 Curriculum Associates: Turning the Page from Tradition to Innovation is 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 Waldron Readya needs to make to build a sustainable competitive advantage.