Wearing Safe: Physical and Informational Security in the Age of the Wearable Device SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Wearing Safe: Physical and Informational Security in the Age of the Wearable Device
Wearable computing devices promise to deliver countless benefits to users. Moreover, they are among the most personal and unique computing devices of all, more so than laptops and tablets and even more so than smartphones. However, this uniqueness also brings with it a risk of security issues not encountered previously in information systems: the potential to not only compromise data, but also to physically harm the wearer. This article considers wearable device security from three perspectives: whether the threat is to the device and/or the individual, the role that the wearable device plays, and how holistic wearable device security strategies can be developed and monitored.
Authors :: Adam J Mills, Richard T. Watson, Leyland Pitt, Jan H. Kietzmann
Swot Analysis of "Wearing Safe: Physical and Informational Security in the Age of the Wearable Device" written by Adam J Mills, Richard T. Watson, Leyland Pitt, Jan H. Kietzmann includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Wearable Device facing as an external strategic factors. Some of the topics covered in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device case study are - Strategic Management Strategies, IT, Security & privacy and Technology & Operations.
Some of the macro environment factors that can be used to understand the Wearing Safe: Physical and Informational Security in the Age of the Wearable Device casestudy better are - – increasing household debt because of falling income levels, central banks are concerned over increasing inflation, there is backlash against globalization, geopolitical disruptions, wage bills are increasing, digital marketing is dominated by two big players Facebook and Google, supply chains are disrupted by pandemic ,
increasing inequality as vast percentage of new income is going to the top 1%, increasing commodity prices, etc
Introduction to SWOT Analysis of Wearing Safe: Physical and Informational Security in the Age of the Wearable Device
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Wearable Device, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device can be done for the following purposes –
1. Strategic planning using facts provided in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device case study
2. Improving business portfolio management of Wearable Device
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 Wearable Device
Strengths Wearing Safe: Physical and Informational Security in the Age of the Wearable Device | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Wearable Device in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device Harvard Business Review case study are -
Ability to recruit top talent
– Wearable Device is one of the leading recruiters in the industry. Managers in the Wearing Safe: Physical and Informational Security in the Age of the Wearable Device are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Cross disciplinary teams
– Horizontal connected teams at the Wearable Device are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
High switching costs
– The high switching costs that Wearable Device 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.
Operational resilience
– The operational resilience strategy in the Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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.
Superior customer experience
– The customer experience strategy of Wearable Device 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
– Wearable Device 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 Wearable Device in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Wearable Device digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Wearable Device 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.
Training and development
– Wearable Device has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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.
Organizational Resilience of Wearable Device
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Wearable Device does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Successful track record of launching new products
– Wearable Device has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Wearable Device 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.
Strong track record of project management
– Wearable Device is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Effective Research and Development (R&D)
– Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device - 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Wearing Safe: Physical and Informational Security in the Age of the Wearable Device are -
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, it seems that the employees of Wearable Device 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 star products
– The top 2 products and services of the firm as mentioned in the Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearable Device has relatively successful track record of launching new products.
High operating costs
– Compare to the competitors, firm in the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearable Device 's lucrative customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Wearable Device needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, is just above the industry average. Wearable Device 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 Wearable Device, firm in the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, in the dynamic environment Wearable Device has struggled to respond to the nimble upstart competition. Wearable Device has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Increasing silos among functional specialists
– The organizational structure of Wearable Device is dominated by functional specialists. It is not different from other players in the Technology & Operations segment. Wearable Device needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Wearable Device to focus more on services rather than just following the product oriented approach.
Capital Spending Reduction
– Even during the low interest decade, Wearable Device 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.
Aligning sales with marketing
– It come across in the case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device can leverage the sales team experience to cultivate customer relationships as Wearable Device is planning to shift buying processes online.
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 Wearable Device supply chain. Even after few cautionary changes mentioned in the HBR case study - Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Wearable Device vulnerable to further global disruptions in South East Asia.
Opportunities Wearing Safe: Physical and Informational Security in the Age of the Wearable Device | 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device are -
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Technology & Operations industry, but it has also influenced the consumer preferences. Wearable Device can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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 Wearable Device in the consumer business. Now Wearable Device can target international markets with far fewer capital restrictions requirements than the existing system.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Wearable Device can use these opportunities to build new business models that can help the communities that Wearable Device operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Wearable Device 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, Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, 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
– Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Wearable Device to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Better consumer reach
– The expansion of the 5G network will help Wearable Device to increase its market reach. Wearable Device 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Wearable Device 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.
Learning at scale
– Online learning technologies has now opened space for Wearable Device 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.
Loyalty marketing
– Wearable Device 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.
Building a culture of innovation
– managers at Wearable Device 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 Technology & Operations segment.
Low interest rates
– Even though inflation is raising its head in most developed economies, Wearable Device 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Wearable Device 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 Wearable Device to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Wearable Device 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.
Threats Wearing Safe: Physical and Informational Security in the Age of the Wearable Device External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device are -
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device .
Stagnating economy with rate increase
– Wearable Device 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.
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. Wearable Device can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Environmental challenges
– Wearable Device 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. Wearable Device can take advantage of this fund but it will also bring new competitors in the Technology & Operations industry.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, Wearable Device may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Technology & Operations .
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Shortening product life cycle
– it is one of the major threat that Wearable Device is facing in Technology & Operations sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Wearable Device in the Technology & Operations sector and impact the bottomline of the organization.
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 Wearable Device.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Wearable Device with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Regulatory challenges
– Wearable Device 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.
Technology acceleration in Forth Industrial Revolution
– Wearable Device has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Wearable Device 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.
Increasing wage structure of Wearable Device
– 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 Wearable Device.
Weighted SWOT Analysis of Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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 Wearable Device needs to make to build a sustainable competitive advantage.
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