Swot Analysis of "University of Michigan Men's Basketball: A Series of Fortunate Events?" written by Karen Mills, Aaron Mukerjee includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Fortunate Basketball facing as an external strategic factors. Some of the topics covered in University of Michigan Men's Basketball: A Series of Fortunate Events? case study are - Strategic Management Strategies, Leadership, Organizational culture and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the University of Michigan Men's Basketball: A Series of Fortunate Events? casestudy better are - – increasing commodity prices, wage bills are increasing, technology disruption, challanges to central banks by blockchain based private currencies, increasing inequality as vast percentage of new income is going to the top 1%, talent flight as more people leaving formal jobs, increasing transportation and logistics costs,
geopolitical disruptions, cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of University of Michigan Men's Basketball: A Series of Fortunate Events?
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in University of Michigan Men's Basketball: A Series of Fortunate Events? case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Fortunate Basketball, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events? can be done for the following purposes –
1. Strategic planning using facts provided in University of Michigan Men's Basketball: A Series of Fortunate Events? case study
2. Improving business portfolio management of Fortunate Basketball
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Fortunate Basketball
Strengths University of Michigan Men's Basketball: A Series of Fortunate Events? | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Fortunate Basketball in University of Michigan Men's Basketball: A Series of Fortunate Events? Harvard Business Review case study are -
Ability to recruit top talent
– Fortunate Basketball is one of the leading recruiters in the industry. Managers in the University of Michigan Men's Basketball: A Series of Fortunate Events? 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 Leadership & Managing People segment
- digital transformation varies from industry to industry. For Fortunate Basketball digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Fortunate Basketball 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
- Fortunate Basketball 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 Fortunate Basketball is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in University of Michigan Men's Basketball: A Series of Fortunate Events? Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Superior customer experience
– The customer experience strategy of Fortunate Basketball in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Effective Research and Development (R&D)
– Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events? - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Successful track record of launching new products
– Fortunate Basketball has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Fortunate Basketball 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.
High brand equity
– Fortunate Basketball has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Fortunate Basketball to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Innovation driven organization
– Fortunate Basketball is one of the most innovative firm in sector. Manager in University of Michigan Men's Basketball: A Series of Fortunate Events? 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 Fortunate Basketball in the sector have low bargaining power. University of Michigan Men's Basketball: A Series of Fortunate Events? has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Fortunate Basketball to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Fortunate Basketball 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.
Highly skilled collaborators
– Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events? HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Diverse revenue streams
– Fortunate Basketball is present in almost all the verticals within the industry. This has provided firm in University of Michigan Men's Basketball: A Series of Fortunate Events? 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.
Weaknesses University of Michigan Men's Basketball: A Series of Fortunate Events? | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of University of Michigan Men's Basketball: A Series of Fortunate Events? are -
Skills based hiring
– The stress on hiring functional specialists at Fortunate Basketball 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the University of Michigan Men's Basketball: A Series of Fortunate Events? 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 Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events?, in the dynamic environment Fortunate Basketball has struggled to respond to the nimble upstart competition. Fortunate Basketball has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High operating costs
– Compare to the competitors, firm in the HBR case study University of Michigan Men's Basketball: A Series of Fortunate Events? has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Fortunate Basketball 's lucrative customers.
Lack of clear differentiation of Fortunate Basketball products
– To increase the profitability and margins on the products, Fortunate Basketball needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow to strategic competitive environment developments
– As University of Michigan Men's Basketball: A Series of Fortunate Events? HBR case study mentions - Fortunate Basketball 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study University of Michigan Men's Basketball: A Series of Fortunate Events?, it seems that the employees of Fortunate Basketball don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
High cash cycle compare to competitors
Fortunate Basketball 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study University of Michigan Men's Basketball: A Series of Fortunate Events?, is just above the industry average. Fortunate Basketball 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.
Need for greater diversity
– Fortunate Basketball 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.
No frontier risks strategy
– After analyzing the HBR case study University of Michigan Men's Basketball: A Series of Fortunate Events?, it seems that company is thinking about the frontier risks that can impact Leadership & Managing People 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.
Opportunities University of Michigan Men's Basketball: A Series of Fortunate Events? | 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 University of Michigan Men's Basketball: A Series of Fortunate Events? are -
Buying journey improvements
– Fortunate Basketball can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. University of Michigan Men's Basketball: A Series of Fortunate Events? 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.
Better consumer reach
– The expansion of the 5G network will help Fortunate Basketball to increase its market reach. Fortunate Basketball 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.
Using analytics as competitive advantage
– Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events? - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Fortunate Basketball to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Fortunate Basketball in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.
Creating value in data economy
– The success of analytics program of Fortunate Basketball has opened avenues for new revenue streams for the organization in the industry. This can help Fortunate Basketball to build a more holistic ecosystem as suggested in the University of Michigan Men's Basketball: A Series of Fortunate Events? case study. Fortunate Basketball can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Fortunate Basketball can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Fortunate Basketball is facing challenges because of the dominance of functional experts in the organization. University of Michigan Men's Basketball: A Series of Fortunate Events? 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.
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. Fortunate Basketball can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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 Fortunate Basketball in the consumer business. Now Fortunate Basketball 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 Fortunate Basketball 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.
Building a culture of innovation
– managers at Fortunate Basketball 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 Leadership & Managing People segment.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Fortunate Basketball 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, University of Michigan Men's Basketball: A Series of Fortunate Events?, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Loyalty marketing
– Fortunate Basketball has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Threats University of Michigan Men's Basketball: A Series of Fortunate Events? External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study University of Michigan Men's Basketball: A Series of Fortunate Events? are -
Technology acceleration in Forth Industrial Revolution
– Fortunate Basketball has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Fortunate Basketball needs to keep up with the evolution of technology in the Leadership & Managing People 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.
Stagnating economy with rate increase
– Fortunate Basketball 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study University of Michigan Men's Basketball: A Series of Fortunate Events?, Fortunate Basketball may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Leadership & Managing People .
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 Fortunate Basketball in the Leadership & Managing People 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 Fortunate Basketball in the Leadership & Managing People industry. The Leadership & Managing People 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.
Environmental challenges
– Fortunate Basketball 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. Fortunate Basketball can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Easy access to finance
– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Fortunate Basketball can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Fortunate Basketball with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Fortunate Basketball 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 University of Michigan Men's Basketball: A Series of Fortunate Events? .
Shortening product life cycle
– it is one of the major threat that Fortunate Basketball is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Fortunate Basketball needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
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 Fortunate Basketball business can come under increasing regulations regarding data privacy, data security, etc.
Regulatory challenges
– Fortunate Basketball needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Leadership & Managing People industry regulations.
Weighted SWOT Analysis of University of Michigan Men's Basketball: A Series of Fortunate Events? 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 University of Michigan Men's Basketball: A Series of Fortunate Events? 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 University of Michigan Men's Basketball: A Series of Fortunate Events? 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 University of Michigan Men's Basketball: A Series of Fortunate Events? 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 University of Michigan Men's Basketball: A Series of Fortunate Events? 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 Fortunate Basketball needs to make to build a sustainable competitive advantage.