Readiness to Internationalize at Maynooth Natural Granite SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Strategy & Execution
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Case Study SWOT Analysis Solution
Case Study Description of Readiness to Internationalize at Maynooth Natural Granite
While internationalization may present growth opportunities for Canadian small businesses, the challenges involved can be daunting. In August 2013 the founder and president of Maynooth Natural Granite was trying to decide whether he should expand his small business internationally. He was satisfied that he was able to turn his gravel pit into a well-recognized supplier of washed decorative rock in Ontario. However, the president was concerned that his success could be short-lived, as Ontario had a saturated gardening market. As he explored new international opportunities he must decide whether he would be able to replicate his success in the new markets while balancing the responsibilities of his Canadian business interests and his family life.
Swot Analysis of "Readiness to Internationalize at Maynooth Natural Granite" written by Christopher Williams, Carolyn Burns includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Maynooth Granite facing as an external strategic factors. Some of the topics covered in Readiness to Internationalize at Maynooth Natural Granite case study are - Strategic Management Strategies, Strategy and Strategy & Execution.
Some of the macro environment factors that can be used to understand the Readiness to Internationalize at Maynooth Natural Granite casestudy better are - – technology disruption, customer relationship management is fast transforming because of increasing concerns over data privacy, wage bills are increasing, increasing inequality as vast percentage of new income is going to the top 1%, increasing household debt because of falling income levels, increasing transportation and logistics costs, digital marketing is dominated by two big players Facebook and Google,
banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing energy prices, etc
Introduction to SWOT Analysis of Readiness to Internationalize at Maynooth Natural Granite
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Readiness to Internationalize at Maynooth Natural Granite case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Maynooth Granite, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Maynooth Granite 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 Readiness to Internationalize at Maynooth Natural Granite can be done for the following purposes –
1. Strategic planning using facts provided in Readiness to Internationalize at Maynooth Natural Granite case study
2. Improving business portfolio management of Maynooth Granite
3. Assessing feasibility of the new initiative in Strategy & Execution field.
4. Making a Strategy & Execution topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Maynooth Granite
Strengths Readiness to Internationalize at Maynooth Natural Granite | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Maynooth Granite in Readiness to Internationalize at Maynooth Natural Granite Harvard Business Review case study are -
Highly skilled collaborators
– Maynooth Granite 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 Readiness to Internationalize at Maynooth Natural Granite HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to lead change in Strategy & Execution field
– Maynooth Granite 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 Maynooth Granite in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Successful track record of launching new products
– Maynooth Granite has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Maynooth Granite 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.
Learning organization
- Maynooth Granite 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 Maynooth Granite is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Readiness to Internationalize at Maynooth Natural Granite Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Digital Transformation in Strategy & Execution segment
- digital transformation varies from industry to industry. For Maynooth Granite digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Maynooth Granite has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Organizational Resilience of Maynooth Granite
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Maynooth Granite does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Effective Research and Development (R&D)
– Maynooth Granite has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study Readiness to Internationalize at Maynooth Natural Granite - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Low bargaining power of suppliers
– Suppliers of Maynooth Granite in the sector have low bargaining power. Readiness to Internationalize at Maynooth Natural Granite has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Maynooth Granite to manage not only supply disruptions but also source products at highly competitive prices.
Ability to recruit top talent
– Maynooth Granite is one of the leading recruiters in the industry. Managers in the Readiness to Internationalize at Maynooth Natural Granite are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Diverse revenue streams
– Maynooth Granite is present in almost all the verticals within the industry. This has provided firm in Readiness to Internationalize at Maynooth Natural Granite case study 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.
Operational resilience
– The operational resilience strategy in the Readiness to Internationalize at Maynooth Natural Granite Harvard Business Review case study comprises – understanding the underlying the factors in the 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.
Innovation driven organization
– Maynooth Granite is one of the most innovative firm in sector. Manager in Readiness to Internationalize at Maynooth Natural Granite Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Weaknesses Readiness to Internationalize at Maynooth Natural Granite | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Readiness to Internationalize at Maynooth Natural Granite are -
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Readiness to Internationalize at Maynooth Natural Granite HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Maynooth Granite has relatively successful track record of launching new products.
Need for greater diversity
– Maynooth Granite 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.
High cash cycle compare to competitors
Maynooth Granite 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Christopher Williams, Carolyn Burns suggests that, Maynooth Granite 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 industry.
Increasing silos among functional specialists
– The organizational structure of Maynooth Granite is dominated by functional specialists. It is not different from other players in the Strategy & Execution segment. Maynooth Granite needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Maynooth Granite to focus more on services rather than just following the product oriented approach.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Readiness to Internationalize at Maynooth Natural Granite, it seems that the employees of Maynooth Granite 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.
Interest costs
– Compare to the competition, Maynooth Granite 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.
No frontier risks strategy
– After analyzing the HBR case study Readiness to Internationalize at Maynooth Natural Granite, it seems that company is thinking about the frontier risks that can impact Strategy & Execution strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Low market penetration in new markets
– Outside its home market of Maynooth Granite, firm in the HBR case study Readiness to Internationalize at Maynooth Natural Granite needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High operating costs
– Compare to the competitors, firm in the HBR case study Readiness to Internationalize at Maynooth Natural Granite 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 Maynooth Granite 's lucrative customers.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Maynooth Granite is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Readiness to Internationalize at Maynooth Natural Granite can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Opportunities Readiness to Internationalize at Maynooth Natural Granite | 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 Readiness to Internationalize at Maynooth Natural Granite are -
Learning at scale
– Online learning technologies has now opened space for Maynooth Granite 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Maynooth Granite 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, Readiness to Internationalize at Maynooth Natural Granite, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Building a culture of innovation
– managers at Maynooth Granite 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 Strategy & Execution segment.
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 Maynooth Granite in the consumer business. Now Maynooth Granite can target international markets with far fewer capital restrictions requirements than the existing system.
Creating value in data economy
– The success of analytics program of Maynooth Granite has opened avenues for new revenue streams for the organization in the industry. This can help Maynooth Granite to build a more holistic ecosystem as suggested in the Readiness to Internationalize at Maynooth Natural Granite case study. Maynooth Granite can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Buying journey improvements
– Maynooth Granite can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Readiness to Internationalize at Maynooth Natural Granite 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Strategy & Execution industry, but it has also influenced the consumer preferences. Maynooth Granite can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Maynooth Granite to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Better consumer reach
– The expansion of the 5G network will help Maynooth Granite to increase its market reach. Maynooth Granite 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Maynooth Granite can use these opportunities to build new business models that can help the communities that Maynooth Granite operates in. Secondly it can use opportunities from government spending in Strategy & Execution sector.
Manufacturing automation
– Maynooth Granite can use the latest technology developments to improve its manufacturing and designing process in Strategy & Execution 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Maynooth Granite to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Maynooth Granite to hire the very best people irrespective of their geographical location.
Low interest rates
– Even though inflation is raising its head in most developed economies, Maynooth Granite 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.
Threats Readiness to Internationalize at Maynooth Natural Granite External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Readiness to Internationalize at Maynooth Natural Granite are -
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.
Increasing wage structure of Maynooth Granite
– 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 Maynooth Granite.
Environmental challenges
– Maynooth Granite 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. Maynooth Granite can take advantage of this fund but it will also bring new competitors in the Strategy & Execution industry.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Maynooth Granite with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Maynooth Granite business can come under increasing regulations regarding data privacy, data security, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Readiness to Internationalize at Maynooth Natural Granite, Maynooth Granite may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Strategy & Execution .
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Maynooth Granite in the Strategy & Execution industry. The Strategy & Execution 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.
Technology acceleration in Forth Industrial Revolution
– Maynooth Granite has witnessed rapid integration of technology during Covid-19 in the Strategy & Execution industry. As one of the leading players in the industry, Maynooth Granite needs to keep up with the evolution of technology in the Strategy & Execution 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.
High dependence on third party suppliers
– Maynooth Granite 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.
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. Maynooth Granite 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.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Maynooth Granite needs to understand the core reasons impacting the Strategy & Execution industry. This will help it in building a better workplace.
Easy access to finance
– Easy access to finance in Strategy & Execution field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Maynooth Granite can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Regulatory challenges
– Maynooth Granite 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 Strategy & Execution industry regulations.
Weighted SWOT Analysis of Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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 Readiness to Internationalize at Maynooth Natural Granite 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 Maynooth Granite needs to make to build a sustainable competitive advantage.