Set Up Remote Workers to Thrive SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Set Up Remote Workers to Thrive
This is an MIT Sloan Management Review article. During the last decade, virtual work -professionals working remotely from home, from client locations or simply from the road -has become increasingly prevalent. Some Fortune 500 companies, including Procter & Gamble, IBM, Accenture and AT&T, have already partially or fully eliminated traditional offices. As much as 10% of today's work force telecommutes from home -more than triple the level of 2000. This trend will accelerate in the coming decades in response to the ongoing globalization of work, ever-increasing customer demands and the cost and time of commuting. However, remote employees as well as managers are becoming increasingly aware of the challenges associated with virtual work as they relate to internal communication, social interaction and employee satisfaction and commitment. The article focuses on four critical challenges involving remote work that require management attention: (1) finding the right work-life balance, (2) overcoming workplace isolation, (3) compensating for the lack of face-to-face communication and (4) compensating for the lack of visibility. For each issue, the authors offer a set of management coping strategies drawn from interviews with managers and remote workers. Successful companies will find ways to adjust to the differences and provide specialized training, mentoring and broad opportunities for social and business interactions with both traditional and remote employees.
Authors :: Jay Mulki, Fleura Bardhi, Felicia Lassk, Jayne Nanavaty-Dahl
Swot Analysis of "Set Up Remote Workers to Thrive" written by Jay Mulki, Fleura Bardhi, Felicia Lassk, Jayne Nanavaty-Dahl includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Remote Compensating facing as an external strategic factors. Some of the topics covered in Set Up Remote Workers to Thrive case study are - Strategic Management Strategies, Market research, Operations management and Technology & Operations.
Some of the macro environment factors that can be used to understand the Set Up Remote Workers to Thrive casestudy better are - – customer relationship management is fast transforming because of increasing concerns over data privacy, there is backlash against globalization, technology disruption, banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, increasing government debt because of Covid-19 spendings, central banks are concerned over increasing inflation,
increasing energy prices, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of Set Up Remote Workers to Thrive
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Set Up Remote Workers to Thrive case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Remote Compensating, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Remote Compensating 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 Set Up Remote Workers to Thrive can be done for the following purposes –
1. Strategic planning using facts provided in Set Up Remote Workers to Thrive case study
2. Improving business portfolio management of Remote Compensating
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 Remote Compensating
Strengths Set Up Remote Workers to Thrive | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Remote Compensating in Set Up Remote Workers to Thrive Harvard Business Review case study are -
Effective Research and Development (R&D)
– Remote Compensating 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 Set Up Remote Workers to Thrive - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Ability to recruit top talent
– Remote Compensating is one of the leading recruiters in the industry. Managers in the Set Up Remote Workers to Thrive are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Remote Compensating digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Remote Compensating 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.
Ability to lead change in Technology & Operations field
– Remote Compensating 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 Remote Compensating in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Highly skilled collaborators
– Remote Compensating 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 Set Up Remote Workers to Thrive HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Training and development
– Remote Compensating has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Set Up Remote Workers to Thrive 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 Remote Compensating
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Remote Compensating does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Analytics focus
– Remote Compensating 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 Jay Mulki, Fleura Bardhi, Felicia Lassk, Jayne Nanavaty-Dahl 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.
High brand equity
– Remote Compensating has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Remote Compensating to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Learning organization
- Remote Compensating 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 Remote Compensating is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Set Up Remote Workers to Thrive Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Low bargaining power of suppliers
– Suppliers of Remote Compensating in the sector have low bargaining power. Set Up Remote Workers to Thrive has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Remote Compensating to manage not only supply disruptions but also source products at highly competitive prices.
Innovation driven organization
– Remote Compensating is one of the most innovative firm in sector. Manager in Set Up Remote Workers to Thrive Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Weaknesses Set Up Remote Workers to Thrive | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Set Up Remote Workers to Thrive are -
Capital Spending Reduction
– Even during the low interest decade, Remote Compensating 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.
Low market penetration in new markets
– Outside its home market of Remote Compensating, firm in the HBR case study Set Up Remote Workers to Thrive needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Remote Compensating is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Set Up Remote Workers to Thrive can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High cash cycle compare to competitors
Remote Compensating has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Set Up Remote Workers to Thrive 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 Remote Compensating has relatively successful track record of launching new products.
No frontier risks strategy
– After analyzing the HBR case study Set Up Remote Workers to Thrive, 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Jay Mulki, Fleura Bardhi, Felicia Lassk, Jayne Nanavaty-Dahl suggests that, Remote Compensating 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.
Products dominated business model
– Even though Remote Compensating 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 - Set Up Remote Workers to Thrive should strive to include more intangible value offerings along with its core products and services.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Set Up Remote Workers to Thrive, is just above the industry average. Remote Compensating 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.
Slow to strategic competitive environment developments
– As Set Up Remote Workers to Thrive HBR case study mentions - Remote Compensating 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Remote Compensating 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.
Opportunities Set Up Remote Workers to Thrive | 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 Set Up Remote Workers to Thrive are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Remote Compensating 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, Set Up Remote Workers to Thrive, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Buying journey improvements
– Remote Compensating can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Set Up Remote Workers to Thrive suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Technology & Operations industry, but it has also influenced the consumer preferences. Remote Compensating can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Learning at scale
– Online learning technologies has now opened space for Remote Compensating 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.
Using analytics as competitive advantage
– Remote Compensating 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 Set Up Remote Workers to Thrive - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Remote Compensating 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 Remote Compensating to increase its market reach. Remote Compensating 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 Remote Compensating 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.
Manufacturing automation
– Remote Compensating 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Remote Compensating 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 Remote Compensating 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 Remote Compensating 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, Remote Compensating can use these opportunities to build new business models that can help the communities that Remote Compensating operates in. Secondly it can use opportunities from government spending in Technology & Operations sector.
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 Remote Compensating in the consumer business. Now Remote Compensating can target international markets with far fewer capital restrictions requirements than the existing system.
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. Remote Compensating 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. Remote Compensating 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.
Threats Set Up Remote Workers to Thrive External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Set Up Remote Workers to Thrive are -
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Remote Compensating with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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. Remote Compensating 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 Remote Compensating
– 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 Remote Compensating.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Remote Compensating 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 Set Up Remote Workers to Thrive .
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Set Up Remote Workers to Thrive, Remote Compensating 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Remote Compensating 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.
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 Remote Compensating in the Technology & Operations sector and impact the bottomline of the organization.
Technology acceleration in Forth Industrial Revolution
– Remote Compensating has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Remote Compensating 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 Remote Compensating.
Consumer confidence and its impact on Remote Compensating 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.
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.
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. Remote Compensating 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.
Weighted SWOT Analysis of Set Up Remote Workers to Thrive 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 Set Up Remote Workers to Thrive 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 Set Up Remote Workers to Thrive 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 Set Up Remote Workers to Thrive 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 Set Up Remote Workers to Thrive 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 Remote Compensating needs to make to build a sustainable competitive advantage.
