3D Printing at Imaginarium: If You Think It, We Can Build It SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of 3D Printing at Imaginarium: If You Think It, We Can Build It
This case presents an instance of the challenges faced by a firm that has adopted a rapidly evolving technology that is novel, yet non-proprietary. The case focuses on a small, pioneering firm (Imaginarium) in a developing country (India) which has evolved using 3D printing technology extensively. The case views Imaginarium in three phases. Imaginarium 1.0, the first phase relates to the period when jewelry prototyping services was the primary offering of the company; Imaginarium 2.0 refers to the current phase of the firm in which the firm has diversified its offerings and clients from jewelry to industrial prototyping and even small-batch manufacturing in various, often unrelated, verticals. In this phase, Imaginarium has also been involved in advising its clients in the design and development of their parts towards adopting 3D printing. Imaginarium 3.0 represents the next phase that needs to be decided. The case takes the perspective of Ankit Mehta, the promoter of Imaginarium. Mehta has various options: (a) sell-off the firm, (b) maintain status quo and grow along some more verticals with the same level of client engagement, and (c) grow more capabilities towards becoming an integrated service bureau. The case dwells on (1) What are the opportunities and benefits that 3D printing technology has brought forward? (2) How do firms that have evolved around 3D printing remain sustainable? (3) How do firms that have probably not adopted 3D printing but are now part of the 3D printing ecosystem, remain sustainable?
Swot Analysis of "3D Printing at Imaginarium: If You Think It, We Can Build It" written by Anshuman Tripathy, Harshvardhan Ketkar, Onkar Kulkarni includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Imaginarium 3d facing as an external strategic factors. Some of the topics covered in 3D Printing at Imaginarium: If You Think It, We Can Build It case study are - Strategic Management Strategies, Technology and Technology & Operations.
Some of the macro environment factors that can be used to understand the 3D Printing at Imaginarium: If You Think It, We Can Build It casestudy better are - – supply chains are disrupted by pandemic , customer relationship management is fast transforming because of increasing concerns over data privacy, increasing government debt because of Covid-19 spendings, technology disruption, increasing inequality as vast percentage of new income is going to the top 1%, competitive advantages are harder to sustain because of technology dispersion, there is backlash against globalization,
digital marketing is dominated by two big players Facebook and Google, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of 3D Printing at Imaginarium: If You Think It, We Can Build It
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in 3D Printing at Imaginarium: If You Think It, We Can Build It case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Imaginarium 3d, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Imaginarium 3d 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 3D Printing at Imaginarium: If You Think It, We Can Build It can be done for the following purposes –
1. Strategic planning using facts provided in 3D Printing at Imaginarium: If You Think It, We Can Build It case study
2. Improving business portfolio management of Imaginarium 3d
3. Assessing feasibility of the new initiative in Technology & Operations field.
4. Making a Technology & Operations topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Imaginarium 3d
Strengths 3D Printing at Imaginarium: If You Think It, We Can Build It | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Imaginarium 3d in 3D Printing at Imaginarium: If You Think It, We Can Build It Harvard Business Review case study are -
Organizational Resilience of Imaginarium 3d
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Imaginarium 3d does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Sustainable margins compare to other players in Technology & Operations industry
– 3D Printing at Imaginarium: If You Think It, We Can Build It firm has clearly differentiated products in the market place. This has enabled Imaginarium 3d to fetch slight price premium compare to the competitors in the Technology & Operations industry. The sustainable margins have also helped Imaginarium 3d to invest into research and development (R&D) and innovation.
Ability to recruit top talent
– Imaginarium 3d is one of the leading recruiters in the industry. Managers in the 3D Printing at Imaginarium: If You Think It, We Can Build It 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 Imaginarium 3d in the sector have low bargaining power. 3D Printing at Imaginarium: If You Think It, We Can Build It has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Imaginarium 3d to manage not only supply disruptions but also source products at highly competitive prices.
Analytics focus
– Imaginarium 3d 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 Anshuman Tripathy, Harshvardhan Ketkar, Onkar Kulkarni 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.
Innovation driven organization
– Imaginarium 3d is one of the most innovative firm in sector. Manager in 3D Printing at Imaginarium: If You Think It, We Can Build It Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Superior customer experience
– The customer experience strategy of Imaginarium 3d in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Ability to lead change in Technology & Operations field
– Imaginarium 3d 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 Imaginarium 3d in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Training and development
– Imaginarium 3d has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in 3D Printing at Imaginarium: If You Think It, We Can Build It 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.
High switching costs
– The high switching costs that Imaginarium 3d 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.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Imaginarium 3d digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Imaginarium 3d 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.
Learning organization
- Imaginarium 3d 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 Imaginarium 3d is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in 3D Printing at Imaginarium: If You Think It, We Can Build It Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses 3D Printing at Imaginarium: If You Think It, We Can Build It | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of 3D Printing at Imaginarium: If You Think It, We Can Build It are -
Slow to strategic competitive environment developments
– As 3D Printing at Imaginarium: If You Think It, We Can Build It HBR case study mentions - Imaginarium 3d 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.
No frontier risks strategy
– After analyzing the HBR case study 3D Printing at Imaginarium: If You Think It, We Can Build It, it seems that company is thinking about the frontier risks that can impact Technology & Operations 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study 3D Printing at Imaginarium: If You Think It, We Can Build It, is just above the industry average. Imaginarium 3d 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.
Aligning sales with marketing
– It come across in the case study 3D Printing at Imaginarium: If You Think It, We Can Build It 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 3D Printing at Imaginarium: If You Think It, We Can Build It can leverage the sales team experience to cultivate customer relationships as Imaginarium 3d is planning to shift buying processes online.
Increasing silos among functional specialists
– The organizational structure of Imaginarium 3d is dominated by functional specialists. It is not different from other players in the Technology & Operations segment. Imaginarium 3d needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Imaginarium 3d to focus more on services rather than just following the product oriented approach.
High operating costs
– Compare to the competitors, firm in the HBR case study 3D Printing at Imaginarium: If You Think It, We Can Build It 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 Imaginarium 3d 's lucrative customers.
Capital Spending Reduction
– Even during the low interest decade, Imaginarium 3d has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study 3D Printing at Imaginarium: If You Think It, We Can Build It, in the dynamic environment Imaginarium 3d has struggled to respond to the nimble upstart competition. Imaginarium 3d has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Slow decision making process
– As mentioned earlier in the report, Imaginarium 3d has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Imaginarium 3d even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Need for greater diversity
– Imaginarium 3d 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 dependence on star products
– The top 2 products and services of the firm as mentioned in the 3D Printing at Imaginarium: If You Think It, We Can Build It 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 Imaginarium 3d has relatively successful track record of launching new products.
Opportunities 3D Printing at Imaginarium: If You Think It, We Can Build It | 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 3D Printing at Imaginarium: If You Think It, We Can Build It are -
Redefining models of collaboration and team work
– As explained in the weaknesses section, Imaginarium 3d is facing challenges because of the dominance of functional experts in the organization. 3D Printing at Imaginarium: If You Think It, We Can Build It 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.
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 Imaginarium 3d 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Imaginarium 3d in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Technology & Operations segment, and it will provide faster access to the consumers.
Buying journey improvements
– Imaginarium 3d can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. 3D Printing at Imaginarium: If You Think It, We Can Build It 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Imaginarium 3d 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 Imaginarium 3d to hire the very best people irrespective of their geographical location.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Imaginarium 3d can use these opportunities to build new business models that can help the communities that Imaginarium 3d operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Technology & Operations industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Imaginarium 3d 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. Imaginarium 3d 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Imaginarium 3d 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, 3D Printing at Imaginarium: If You Think It, We Can Build It, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Using analytics as competitive advantage
– Imaginarium 3d 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 3D Printing at Imaginarium: If You Think It, We Can Build It - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Imaginarium 3d 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 Imaginarium 3d has opened avenues for new revenue streams for the organization in the industry. This can help Imaginarium 3d to build a more holistic ecosystem as suggested in the 3D Printing at Imaginarium: If You Think It, We Can Build It case study. Imaginarium 3d can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Manufacturing automation
– Imaginarium 3d can use the latest technology developments to improve its manufacturing and designing process in Technology & Operations 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Imaginarium 3d can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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 Imaginarium 3d in the consumer business. Now Imaginarium 3d can target international markets with far fewer capital restrictions requirements than the existing system.
Threats 3D Printing at Imaginarium: If You Think It, We Can Build It External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study 3D Printing at Imaginarium: If You Think It, We Can Build It are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Imaginarium 3d in the Technology & Operations industry. The Technology & Operations 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.
Regulatory challenges
– Imaginarium 3d 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 Technology & Operations industry regulations.
Shortening product life cycle
– it is one of the major threat that Imaginarium 3d is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Increasing wage structure of Imaginarium 3d
– 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 Imaginarium 3d.
Easy access to finance
– Easy access to finance in Technology & Operations field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Imaginarium 3d can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Imaginarium 3d 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.
High dependence on third party suppliers
– Imaginarium 3d 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Imaginarium 3d 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 Imaginarium 3d business can come under increasing regulations regarding data privacy, data security, etc.
Stagnating economy with rate increase
– Imaginarium 3d 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Imaginarium 3d 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 3D Printing at Imaginarium: If You Think It, We Can Build It .
Technology acceleration in Forth Industrial Revolution
– Imaginarium 3d has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Imaginarium 3d needs to keep up with the evolution of technology in the Technology & Operations 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.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Imaginarium 3d.
Weighted SWOT Analysis of 3D Printing at Imaginarium: If You Think It, We Can Build It 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 3D Printing at Imaginarium: If You Think It, We Can Build It 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 3D Printing at Imaginarium: If You Think It, We Can Build It 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 3D Printing at Imaginarium: If You Think It, We Can Build It 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 3D Printing at Imaginarium: If You Think It, We Can Build It 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 Imaginarium 3d needs to make to build a sustainable competitive advantage.