Seeking Skills, Finding Barriers: Vocational Training in Punjab SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
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Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Seeking Skills, Finding Barriers: Vocational Training in Punjab
In March 2012, a flagship vocational program in Punjab, Pakistan-the Punjab Skills Development Fund (PSDF)-hit a roadblock. After months of planning, a pilot phase of training courses was launched in four of Punjab's poorest districts. The classes filled up, but the researchers in charge of evaluating PSDF's programs were worried. Earlier research indicated that a large portion of the target population-including a large number of women-were interested in vocational training. But, when it came time to enroll in the classes only a small fraction of the population showed up. The researchers wanted to find out why, before the program scaled up, but any delays in rolling out the program funded by the United Kingdom's Department for International Development and the Punjab government would not bode well for PSDF. A unique public-private partnership, PSDF hoped to overhaul skills training in Pakistan by using an evidence-based, demand-driven approach. At the core of the model was a close partnership between researchers and practitioners. But embedding rigorous research in a development program did not in and of itself ensure success. Instead, with PSDF, the approach created serious tensions between policymakers and researchers, as administrative demands routinely flew in the face of applying evidence-based program design. Case number 2122.0
Swot Analysis of "Seeking Skills, Finding Barriers: Vocational Training in Punjab" written by Anjani Datla, Asim Khwaja includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Psdf Punjab facing as an external strategic factors. Some of the topics covered in Seeking Skills, Finding Barriers: Vocational Training in Punjab case study are - Strategic Management Strategies, Economic development, Project management and Global Business.
Some of the macro environment factors that can be used to understand the Seeking Skills, Finding Barriers: Vocational Training in Punjab casestudy better are - – digital marketing is dominated by two big players Facebook and Google, cloud computing is disrupting traditional business models, there is increasing trade war between United States & China, technology disruption, competitive advantages are harder to sustain because of technology dispersion, increasing commodity prices, there is backlash against globalization,
increasing transportation and logistics costs, increasing government debt because of Covid-19 spendings, etc
Introduction to SWOT Analysis of Seeking Skills, Finding Barriers: Vocational Training in Punjab
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Seeking Skills, Finding Barriers: Vocational Training in Punjab case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Psdf Punjab, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Psdf Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab can be done for the following purposes –
1. Strategic planning using facts provided in Seeking Skills, Finding Barriers: Vocational Training in Punjab case study
2. Improving business portfolio management of Psdf Punjab
3. Assessing feasibility of the new initiative in Global Business field.
4. Making a Global Business topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Psdf Punjab
Strengths Seeking Skills, Finding Barriers: Vocational Training in Punjab | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Psdf Punjab in Seeking Skills, Finding Barriers: Vocational Training in Punjab Harvard Business Review case study are -
Innovation driven organization
– Psdf Punjab is one of the most innovative firm in sector. Manager in Seeking Skills, Finding Barriers: Vocational Training in Punjab Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Diverse revenue streams
– Psdf Punjab is present in almost all the verticals within the industry. This has provided firm in Seeking Skills, Finding Barriers: Vocational Training in Punjab 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.
Strong track record of project management
– Psdf Punjab 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 recruit top talent
– Psdf Punjab is one of the leading recruiters in the industry. Managers in the Seeking Skills, Finding Barriers: Vocational Training in Punjab are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– Psdf Punjab has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Psdf Punjab 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.
Ability to lead change in Global Business field
– Psdf Punjab 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 Psdf Punjab in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High switching costs
– The high switching costs that Psdf Punjab 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.
Effective Research and Development (R&D)
– Psdf Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Highly skilled collaborators
– Psdf Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Training and development
– Psdf Punjab has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Psdf Punjab
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Psdf Punjab does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Cross disciplinary teams
– Horizontal connected teams at the Psdf Punjab 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.
Weaknesses Seeking Skills, Finding Barriers: Vocational Training in Punjab | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Seeking Skills, Finding Barriers: Vocational Training in Punjab are -
High cash cycle compare to competitors
Psdf Punjab 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 harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Psdf Punjab is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Seeking Skills, Finding Barriers: Vocational Training in Punjab can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Aligning sales with marketing
– It come across in the case study Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab can leverage the sales team experience to cultivate customer relationships as Psdf Punjab is planning to shift buying processes online.
Workers concerns about automation
– As automation is fast increasing in the segment, Psdf Punjab 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.
Slow to strategic competitive environment developments
– As Seeking Skills, Finding Barriers: Vocational Training in Punjab HBR case study mentions - Psdf Punjab 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.
Capital Spending Reduction
– Even during the low interest decade, Psdf Punjab has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Seeking Skills, Finding Barriers: Vocational Training in Punjab, in the dynamic environment Psdf Punjab has struggled to respond to the nimble upstart competition. Psdf Punjab has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Need for greater diversity
– Psdf Punjab 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.
Low market penetration in new markets
– Outside its home market of Psdf Punjab, firm in the HBR case study Seeking Skills, Finding Barriers: Vocational Training in Punjab needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
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 Psdf Punjab supply chain. Even after few cautionary changes mentioned in the HBR case study - Seeking Skills, Finding Barriers: Vocational Training in Punjab, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Psdf Punjab vulnerable to further global disruptions in South East Asia.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Seeking Skills, Finding Barriers: Vocational Training in Punjab, is just above the industry average. Psdf Punjab 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.
Opportunities Seeking Skills, Finding Barriers: Vocational Training in Punjab | 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab are -
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Global Business industry, but it has also influenced the consumer preferences. Psdf Punjab can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Buying journey improvements
– Psdf Punjab can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Seeking Skills, Finding Barriers: Vocational Training in Punjab 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.
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. Psdf Punjab can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Developing new processes and practices
– Psdf Punjab can develop new processes and procedures in Global Business 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.
Creating value in data economy
– The success of analytics program of Psdf Punjab has opened avenues for new revenue streams for the organization in the industry. This can help Psdf Punjab to build a more holistic ecosystem as suggested in the Seeking Skills, Finding Barriers: Vocational Training in Punjab case study. Psdf Punjab can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Psdf Punjab can use these opportunities to build new business models that can help the communities that Psdf Punjab operates in. Secondly it can use opportunities from government spending in Global Business 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 Psdf Punjab in the consumer business. Now Psdf Punjab can target international markets with far fewer capital restrictions requirements than the existing system.
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 Psdf Punjab 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Psdf Punjab 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 Psdf Punjab to hire the very best people irrespective of their geographical location.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Psdf Punjab is facing challenges because of the dominance of functional experts in the organization. Seeking Skills, Finding Barriers: Vocational Training in Punjab case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Psdf Punjab 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, Seeking Skills, Finding Barriers: Vocational Training in Punjab, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Psdf Punjab in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Global Business segment, and it will provide faster access to the consumers.
Learning at scale
– Online learning technologies has now opened space for Psdf Punjab 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.
Threats Seeking Skills, Finding Barriers: Vocational Training in Punjab External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Seeking Skills, Finding Barriers: Vocational Training in Punjab are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Psdf Punjab in the Global Business industry. The Global Business 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.
Shortening product life cycle
– it is one of the major threat that Psdf Punjab is facing in Global Business sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Psdf Punjab business can come under increasing regulations regarding data privacy, data security, etc.
Stagnating economy with rate increase
– Psdf Punjab 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 Global Business field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Psdf Punjab can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Psdf Punjab 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.
Increasing wage structure of Psdf Punjab
– 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 Psdf Punjab.
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.
High dependence on third party suppliers
– Psdf Punjab 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. Psdf Punjab 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.
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.
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 Psdf Punjab in the Global Business sector and impact the bottomline of the organization.
Environmental challenges
– Psdf Punjab 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. Psdf Punjab can take advantage of this fund but it will also bring new competitors in the Global Business industry.
Weighted SWOT Analysis of Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Seeking Skills, Finding Barriers: Vocational Training in Punjab 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 Psdf Punjab needs to make to build a sustainable competitive advantage.