ShotSpotter: Public Safety, IoT, and Big Data SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of ShotSpotter: Public Safety, IoT, and Big Data
SST is a technology company that was formed to address a social problem: gun violence. SST is the global leader in gunfire detection and location technology. SST provides a scalable and reliable gunfire alert and analysis system, which is known as ShotSpotter. Gun violence is a problem in inner cities. As such, this service is most applicable to underserved communities. The company was founded in 1996 by an acoustic engineer who felt that sensors could detect gunfire. The ShotSpotter solution provides information to police departments in cities that have installed the technology to help them quickly respond to events where gun shots were fired. The case also highlights the Internet of Things (IoT) and Big Data, given SST's use of sensors and data to solve the problem of gun violence.
Swot Analysis of "ShotSpotter: Public Safety, IoT, and Big Data" written by Donna B. Stoddard includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Gun Shotspotter facing as an external strategic factors. Some of the topics covered in ShotSpotter: Public Safety, IoT, and Big Data case study are - Strategic Management Strategies, Entrepreneurship, Internet and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the ShotSpotter: Public Safety, IoT, and Big Data casestudy better are - – customer relationship management is fast transforming because of increasing concerns over data privacy, increasing inequality as vast percentage of new income is going to the top 1%, increasing energy prices, talent flight as more people leaving formal jobs, technology disruption, increasing commodity prices, digital marketing is dominated by two big players Facebook and Google,
geopolitical disruptions, central banks are concerned over increasing inflation, etc
Introduction to SWOT Analysis of ShotSpotter: Public Safety, IoT, and Big Data
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in ShotSpotter: Public Safety, IoT, and Big Data case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Gun Shotspotter, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Gun Shotspotter 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 ShotSpotter: Public Safety, IoT, and Big Data can be done for the following purposes –
1. Strategic planning using facts provided in ShotSpotter: Public Safety, IoT, and Big Data case study
2. Improving business portfolio management of Gun Shotspotter
3. Assessing feasibility of the new initiative in Innovation & Entrepreneurship field.
4. Making a Innovation & Entrepreneurship topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Gun Shotspotter
Strengths ShotSpotter: Public Safety, IoT, and Big Data | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Gun Shotspotter in ShotSpotter: Public Safety, IoT, and Big Data Harvard Business Review case study are -
Operational resilience
– The operational resilience strategy in the ShotSpotter: Public Safety, IoT, and Big Data 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.
Cross disciplinary teams
– Horizontal connected teams at the Gun Shotspotter 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.
Ability to recruit top talent
– Gun Shotspotter is one of the leading recruiters in the industry. Managers in the ShotSpotter: Public Safety, IoT, and Big Data are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Analytics focus
– Gun Shotspotter 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 Donna B. Stoddard 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.
Diverse revenue streams
– Gun Shotspotter is present in almost all the verticals within the industry. This has provided firm in ShotSpotter: Public Safety, IoT, and Big Data 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.
Effective Research and Development (R&D)
– Gun Shotspotter 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 ShotSpotter: Public Safety, IoT, and Big Data - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Innovation driven organization
– Gun Shotspotter is one of the most innovative firm in sector. Manager in ShotSpotter: Public Safety, IoT, and Big Data Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Low bargaining power of suppliers
– Suppliers of Gun Shotspotter in the sector have low bargaining power. ShotSpotter: Public Safety, IoT, and Big Data has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Gun Shotspotter to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Gun Shotspotter in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
High switching costs
– The high switching costs that Gun Shotspotter 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 Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Gun Shotspotter digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Gun Shotspotter 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
- Gun Shotspotter 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 Gun Shotspotter is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in ShotSpotter: Public Safety, IoT, and Big Data Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses ShotSpotter: Public Safety, IoT, and Big Data | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of ShotSpotter: Public Safety, IoT, and Big Data are -
Low market penetration in new markets
– Outside its home market of Gun Shotspotter, firm in the HBR case study ShotSpotter: Public Safety, IoT, and Big Data needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Capital Spending Reduction
– Even during the low interest decade, Gun Shotspotter 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.
Need for greater diversity
– Gun Shotspotter 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.
Aligning sales with marketing
– It come across in the case study ShotSpotter: Public Safety, IoT, and Big Data 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 ShotSpotter: Public Safety, IoT, and Big Data can leverage the sales team experience to cultivate customer relationships as Gun Shotspotter is planning to shift buying processes online.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study ShotSpotter: Public Safety, IoT, and Big Data, is just above the industry average. Gun Shotspotter 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Donna B. Stoddard suggests that, Gun Shotspotter 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the ShotSpotter: Public Safety, IoT, and Big Data 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 Gun Shotspotter has relatively successful track record of launching new products.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study ShotSpotter: Public Safety, IoT, and Big Data, in the dynamic environment Gun Shotspotter has struggled to respond to the nimble upstart competition. Gun Shotspotter has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
Gun Shotspotter 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.
Slow to strategic competitive environment developments
– As ShotSpotter: Public Safety, IoT, and Big Data HBR case study mentions - Gun Shotspotter 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.
Skills based hiring
– The stress on hiring functional specialists at Gun Shotspotter has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Opportunities ShotSpotter: Public Safety, IoT, and Big Data | 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 ShotSpotter: Public Safety, IoT, and Big Data are -
Creating value in data economy
– The success of analytics program of Gun Shotspotter has opened avenues for new revenue streams for the organization in the industry. This can help Gun Shotspotter to build a more holistic ecosystem as suggested in the ShotSpotter: Public Safety, IoT, and Big Data case study. Gun Shotspotter can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Gun Shotspotter in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Innovation & Entrepreneurship segment, and it will provide faster access to the consumers.
Developing new processes and practices
– Gun Shotspotter can develop new processes and procedures in Innovation & Entrepreneurship 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.
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 Gun Shotspotter 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.
Leveraging digital technologies
– Gun Shotspotter 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.
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 Gun Shotspotter in the consumer business. Now Gun Shotspotter can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for Gun Shotspotter 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Gun Shotspotter can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Building a culture of innovation
– managers at Gun Shotspotter 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 Innovation & Entrepreneurship segment.
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. Gun Shotspotter can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Buying journey improvements
– Gun Shotspotter can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. ShotSpotter: Public Safety, IoT, and Big Data 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.
Using analytics as competitive advantage
– Gun Shotspotter 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 ShotSpotter: Public Safety, IoT, and Big Data - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Gun Shotspotter to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Gun Shotspotter 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 Gun Shotspotter to hire the very best people irrespective of their geographical location.
Threats ShotSpotter: Public Safety, IoT, and Big Data External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study ShotSpotter: Public Safety, IoT, and Big Data are -
Easy access to finance
– Easy access to finance in Innovation & Entrepreneurship field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Gun Shotspotter can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
High dependence on third party suppliers
– Gun Shotspotter 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.
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 Gun Shotspotter.
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.
Technology acceleration in Forth Industrial Revolution
– Gun Shotspotter has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Gun Shotspotter needs to keep up with the evolution of technology in the Innovation & Entrepreneurship 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.
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. Gun Shotspotter 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.
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. Gun Shotspotter needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Shortening product life cycle
– it is one of the major threat that Gun Shotspotter is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study ShotSpotter: Public Safety, IoT, and Big Data, Gun Shotspotter may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Innovation & Entrepreneurship .
Environmental challenges
– Gun Shotspotter 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. Gun Shotspotter can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
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.
Consumer confidence and its impact on Gun Shotspotter 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.
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 Gun Shotspotter business can come under increasing regulations regarding data privacy, data security, etc.
Weighted SWOT Analysis of ShotSpotter: Public Safety, IoT, and Big Data 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 ShotSpotter: Public Safety, IoT, and Big Data 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 ShotSpotter: Public Safety, IoT, and Big Data 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 ShotSpotter: Public Safety, IoT, and Big Data 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 ShotSpotter: Public Safety, IoT, and Big Data 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 Gun Shotspotter needs to make to build a sustainable competitive advantage.
