Wearing Safe: Physical and Informational Security in the Age of the Wearable Device SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

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

Topics :: Technology & Operations

Tags :: IT, Security & privacy, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

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 - – talent flight as more people leaving formal jobs, digital marketing is dominated by two big players Facebook and Google, banking and financial system is disrupted by Bitcoin and other crypto currencies, central banks are concerned over increasing inflation, increasing transportation and logistics costs, wage bills are increasing, challanges to central banks by blockchain based private currencies, increasing energy prices, cloud computing is disrupting traditional business models, etc

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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.

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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

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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 -

Innovation driven organization

– Wearable Device is one of the most innovative firm in sector. Manager in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.

High brand equity

– Wearable Device has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Wearable Device to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

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.

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.

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.

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.

Diverse revenue streams

– Wearable Device is present in almost all the verticals within the industry. This has provided firm in Wearing Safe: Physical and Informational Security in the Age of the Wearable Device 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.

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.

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.

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.

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.

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.

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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 -

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.

Interest costs

– Compare to the competition, Wearable Device 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.

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.

No frontier risks strategy

– After analyzing the HBR case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device, 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.

Slow decision making process

– As mentioned earlier in the report, Wearable Device 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. Wearable Device 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.

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 bargaining power of channel partners

– Because of the regulatory requirements, Adam J Mills, Richard T. Watson, Leyland Pitt, Jan H. Kietzmann suggests that, Wearable Device 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 harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Wearable Device is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Wearing Safe: Physical and Informational Security in the Age of the Wearable Device can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.

Slow to strategic competitive environment developments

– As Wearing Safe: Physical and Informational Security in the Age of the Wearable Device HBR case study mentions - Wearable Device 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.

Products dominated business model

– Even though Wearable Device 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 - Wearing Safe: Physical and Informational Security in the Age of the Wearable Device should strive to include more intangible value offerings along with its core products and services.

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.

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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 -

Identify volunteer opportunities

– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Wearable Device can explore opportunities that can attract volunteers and are consistent with its mission and vision.

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.

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.

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.

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.

Developing new processes and practices

– Wearable Device can develop new processes and procedures in Technology & Operations industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.

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.

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.

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.

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.

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.

Manufacturing automation

– Wearable Device 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.

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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 -

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.

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.

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.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Wearable Device 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.

High dependence on third party suppliers

– Wearable Device 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. Wearable Device 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.

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.

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. Wearable Device needs to understand the core reasons impacting the Technology & Operations industry. This will help it in building a better workplace.

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 .

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.

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.

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.

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 Wearable Device business can come under increasing regulations regarding data privacy, data security, etc.

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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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