Jewellworld.com: A Jewellery Industry B2B Portal SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Strategy & Execution
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Jewellworld.com: A Jewellery Industry B2B Portal
Jewellworld.com was established in April 2000 to take advantage of the business opportunity presented by the Internet. Participating in Jewellworld.com's B2B platform was like participating in a virtual Jewelry trade fair, through which sellers could showcase their products to buyers online and buyers could contact sellers and even place orders online. However, Jewellworld.com quickly realized that Hong Kong's jewelry industry was by no means at the forefront of information technology. Facilitates discussion around a strategic/marketing planning process, which involves: sizing up the business environment, sizing up the company, identifying and generating strategic options, and assessing the options.
Swot Analysis of "Jewellworld.com: A Jewellery Industry B2B Portal" written by Bennett Yim, Andrew Lee includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Jewellworld.com Sizing facing as an external strategic factors. Some of the topics covered in Jewellworld.com: A Jewellery Industry B2B Portal case study are - Strategic Management Strategies, International business, IT, Strategic planning and Strategy & Execution.
Some of the macro environment factors that can be used to understand the Jewellworld.com: A Jewellery Industry B2B Portal casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing government debt because of Covid-19 spendings, supply chains are disrupted by pandemic , customer relationship management is fast transforming because of increasing concerns over data privacy, there is backlash against globalization, cloud computing is disrupting traditional business models, geopolitical disruptions,
talent flight as more people leaving formal jobs, digital marketing is dominated by two big players Facebook and Google, etc
Introduction to SWOT Analysis of Jewellworld.com: A Jewellery Industry B2B Portal
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Jewellworld.com: A Jewellery Industry B2B Portal case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Jewellworld.com Sizing, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Jewellworld.com Sizing 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 Jewellworld.com: A Jewellery Industry B2B Portal can be done for the following purposes –
1. Strategic planning using facts provided in Jewellworld.com: A Jewellery Industry B2B Portal case study
2. Improving business portfolio management of Jewellworld.com Sizing
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 Jewellworld.com Sizing
Strengths Jewellworld.com: A Jewellery Industry B2B Portal | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Jewellworld.com Sizing in Jewellworld.com: A Jewellery Industry B2B Portal Harvard Business Review case study are -
Highly skilled collaborators
– Jewellworld.com Sizing 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 Jewellworld.com: A Jewellery Industry B2B Portal HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Superior customer experience
– The customer experience strategy of Jewellworld.com Sizing in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Digital Transformation in Strategy & Execution segment
- digital transformation varies from industry to industry. For Jewellworld.com Sizing digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Jewellworld.com Sizing 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.
Innovation driven organization
– Jewellworld.com Sizing is one of the most innovative firm in sector. Manager in Jewellworld.com: A Jewellery Industry B2B Portal Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Ability to lead change in Strategy & Execution field
– Jewellworld.com Sizing 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 Jewellworld.com Sizing in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Jewellworld.com Sizing 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 Bennett Yim, Andrew Lee 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.
Sustainable margins compare to other players in Strategy & Execution industry
– Jewellworld.com: A Jewellery Industry B2B Portal firm has clearly differentiated products in the market place. This has enabled Jewellworld.com Sizing to fetch slight price premium compare to the competitors in the Strategy & Execution industry. The sustainable margins have also helped Jewellworld.com Sizing to invest into research and development (R&D) and innovation.
Successful track record of launching new products
– Jewellworld.com Sizing has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Jewellworld.com Sizing 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.
Ability to recruit top talent
– Jewellworld.com Sizing is one of the leading recruiters in the industry. Managers in the Jewellworld.com: A Jewellery Industry B2B Portal are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Low bargaining power of suppliers
– Suppliers of Jewellworld.com Sizing in the sector have low bargaining power. Jewellworld.com: A Jewellery Industry B2B Portal has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Jewellworld.com Sizing to manage not only supply disruptions but also source products at highly competitive prices.
Learning organization
- Jewellworld.com Sizing 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 Jewellworld.com Sizing is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Jewellworld.com: A Jewellery Industry B2B Portal Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Effective Research and Development (R&D)
– Jewellworld.com Sizing 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 Jewellworld.com: A Jewellery Industry B2B Portal - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Weaknesses Jewellworld.com: A Jewellery Industry B2B Portal | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Jewellworld.com: A Jewellery Industry B2B Portal are -
High cash cycle compare to competitors
Jewellworld.com Sizing 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.
Need for greater diversity
– Jewellworld.com Sizing 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Jewellworld.com: A Jewellery Industry B2B Portal, is just above the industry average. Jewellworld.com Sizing 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.
Low market penetration in new markets
– Outside its home market of Jewellworld.com Sizing, firm in the HBR case study Jewellworld.com: A Jewellery Industry B2B Portal needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com Sizing has relatively successful track record of launching new products.
Products dominated business model
– Even though Jewellworld.com Sizing has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Jewellworld.com: A Jewellery Industry B2B Portal should strive to include more intangible value offerings along with its core products and services.
High bargaining power of channel partners
– Because of the regulatory requirements, Bennett Yim, Andrew Lee suggests that, Jewellworld.com Sizing 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.
Slow to strategic competitive environment developments
– As Jewellworld.com: A Jewellery Industry B2B Portal HBR case study mentions - Jewellworld.com Sizing 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Jewellworld.com: A Jewellery Industry B2B Portal, it seems that the employees of Jewellworld.com Sizing 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.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Jewellworld.com Sizing supply chain. Even after few cautionary changes mentioned in the HBR case study - Jewellworld.com: A Jewellery Industry B2B Portal, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Jewellworld.com Sizing vulnerable to further global disruptions in South East Asia.
Aligning sales with marketing
– It come across in the case study Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com: A Jewellery Industry B2B Portal can leverage the sales team experience to cultivate customer relationships as Jewellworld.com Sizing is planning to shift buying processes online.
Opportunities Jewellworld.com: A Jewellery Industry B2B Portal | 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 Jewellworld.com: A Jewellery Industry B2B Portal are -
Loyalty marketing
– Jewellworld.com Sizing has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Jewellworld.com Sizing is facing challenges because of the dominance of functional experts in the organization. Jewellworld.com: A Jewellery Industry B2B Portal 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.
Manufacturing automation
– Jewellworld.com Sizing 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.
Buying journey improvements
– Jewellworld.com Sizing can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Jewellworld.com: A Jewellery Industry B2B Portal 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Jewellworld.com Sizing 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, Jewellworld.com: A Jewellery Industry B2B Portal, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Low interest rates
– Even though inflation is raising its head in most developed economies, Jewellworld.com Sizing 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.
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 Jewellworld.com Sizing in the consumer business. Now Jewellworld.com Sizing can target international markets with far fewer capital restrictions requirements than the existing system.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Jewellworld.com Sizing can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Leveraging digital technologies
– Jewellworld.com Sizing 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.
Using analytics as competitive advantage
– Jewellworld.com Sizing has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Jewellworld.com: A Jewellery Industry B2B Portal - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Jewellworld.com Sizing to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Creating value in data economy
– The success of analytics program of Jewellworld.com Sizing has opened avenues for new revenue streams for the organization in the industry. This can help Jewellworld.com Sizing to build a more holistic ecosystem as suggested in the Jewellworld.com: A Jewellery Industry B2B Portal case study. Jewellworld.com Sizing can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Strategy & Execution industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Jewellworld.com Sizing can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Jewellworld.com Sizing can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
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 Jewellworld.com Sizing 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.
Threats Jewellworld.com: A Jewellery Industry B2B Portal External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Jewellworld.com: A Jewellery Industry B2B Portal are -
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. Jewellworld.com Sizing 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 Jewellworld.com Sizing
– 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 Jewellworld.com Sizing.
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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Jewellworld.com Sizing with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Consumer confidence and its impact on Jewellworld.com Sizing 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Jewellworld.com: A Jewellery Industry B2B Portal, Jewellworld.com Sizing 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 .
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. Jewellworld.com Sizing needs to understand the core reasons impacting the Strategy & Execution industry. This will help it in building a better workplace.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Jewellworld.com Sizing in the Strategy & Execution sector and impact the bottomline of the organization.
Environmental challenges
– Jewellworld.com Sizing 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. Jewellworld.com Sizing can take advantage of this fund but it will also bring new competitors in the Strategy & Execution industry.
Technology acceleration in Forth Industrial Revolution
– Jewellworld.com Sizing has witnessed rapid integration of technology during Covid-19 in the Strategy & Execution industry. As one of the leading players in the industry, Jewellworld.com Sizing 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
– Jewellworld.com Sizing 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Jewellworld.com Sizing 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Jewellworld.com Sizing 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 Jewellworld.com: A Jewellery Industry B2B Portal .
Weighted SWOT Analysis of Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com: A Jewellery Industry B2B Portal 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 Jewellworld.com Sizing needs to make to build a sustainable competitive advantage.
