VMock: Pivoting to Succeed and Scale in a Technology Startup Company SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Strategy & Execution
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of VMock: Pivoting to Succeed and Scale in a Technology Startup Company
In 2010, Salil Pande founded VMock, an online product that helped MBA students prepare for job interviews. Students could upload their video interviews and get feedback from mentors and peers. Four years later, VMock pivoted from an interview feedback product to a "Smart Resume" product that focused on improving resumes. The pivot was based on the insight that job candidates first needed help fixing their resumes before they could obtain and prepare for interviews. Further, the interview feedback product was difficult to scale as it relied on human feedback. The Smart Resume product, on the other hand, was powered by machine learning and artificial intelligence technology, making it more scalable and allowing VMock to evolve its offering from a product to a platform for managing careers. VMock had forged strong relationships with top business schools in the United States and Europe and its Smart Resume platform had been well received by the market. Now Salil and his wife (and head of product development), Kiran, had to determine the next step in the company's evolution. They realized that the time had come to take their business to the next level. But they were faced with several options on how to go about scaling VMock. Should they market directly to consumers or should they use partners to scale their user base? Should they create a solution for employers to help them recruit and manage talent? What revenue streams should they focus on to maximize growth and profitability? These strategic decisions would be key to the survival and growth of VMock.
Swot Analysis of "VMock: Pivoting to Succeed and Scale in a Technology Startup Company" written by Mohanbir Sawhney, Pallavi Goodman includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Vmock Resume facing as an external strategic factors. Some of the topics covered in VMock: Pivoting to Succeed and Scale in a Technology Startup Company case study are - Strategic Management Strategies, Growth strategy, Joint ventures, Marketing, Social platforms and Strategy & Execution.
Some of the macro environment factors that can be used to understand the VMock: Pivoting to Succeed and Scale in a Technology Startup Company casestudy better are - – challanges to central banks by blockchain based private currencies, cloud computing is disrupting traditional business models, increasing household debt because of falling income levels, wage bills are increasing, increasing energy prices, increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization,
banking and financial system is disrupted by Bitcoin and other crypto currencies, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of VMock: Pivoting to Succeed and Scale in a Technology Startup Company
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in VMock: Pivoting to Succeed and Scale in a Technology Startup Company case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Vmock Resume, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Vmock Resume 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company can be done for the following purposes –
1. Strategic planning using facts provided in VMock: Pivoting to Succeed and Scale in a Technology Startup Company case study
2. Improving business portfolio management of Vmock Resume
3. Assessing feasibility of the new initiative in Strategy & Execution field.
4. Making a Strategy & Execution topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Vmock Resume
Strengths VMock: Pivoting to Succeed and Scale in a Technology Startup Company | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Vmock Resume in VMock: Pivoting to Succeed and Scale in a Technology Startup Company Harvard Business Review case study are -
Ability to recruit top talent
– Vmock Resume is one of the leading recruiters in the industry. Managers in the VMock: Pivoting to Succeed and Scale in a Technology Startup Company are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Ability to lead change in Strategy & Execution field
– Vmock Resume 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 Vmock Resume in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Learning organization
- Vmock Resume 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 Vmock Resume is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in VMock: Pivoting to Succeed and Scale in a Technology Startup Company Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Low bargaining power of suppliers
– Suppliers of Vmock Resume in the sector have low bargaining power. VMock: Pivoting to Succeed and Scale in a Technology Startup Company has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Vmock Resume to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Vmock Resume 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.
Organizational Resilience of Vmock Resume
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Vmock Resume does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Operational resilience
– The operational resilience strategy in the VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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.
Successful track record of launching new products
– Vmock Resume has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Vmock Resume 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.
Training and development
– Vmock Resume has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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.
Analytics focus
– Vmock Resume 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 Mohanbir Sawhney, Pallavi Goodman 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.
Cross disciplinary teams
– Horizontal connected teams at the Vmock Resume 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.
Strong track record of project management
– Vmock Resume is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses VMock: Pivoting to Succeed and Scale in a Technology Startup Company | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of VMock: Pivoting to Succeed and Scale in a Technology Startup Company are -
Increasing silos among functional specialists
– The organizational structure of Vmock Resume is dominated by functional specialists. It is not different from other players in the Strategy & Execution segment. Vmock Resume needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Vmock Resume to focus more on services rather than just following the product oriented approach.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 Vmock Resume has relatively successful track record of launching new products.
Interest costs
– Compare to the competition, Vmock Resume has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Slow to strategic competitive environment developments
– As VMock: Pivoting to Succeed and Scale in a Technology Startup Company HBR case study mentions - Vmock Resume 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.
High operating costs
– Compare to the competitors, firm in the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 Vmock Resume 's lucrative customers.
Low market penetration in new markets
– Outside its home market of Vmock Resume, firm in the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Products dominated business model
– Even though Vmock Resume 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 - VMock: Pivoting to Succeed and Scale in a Technology Startup Company should strive to include more intangible value offerings along with its core products and services.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company, in the dynamic environment Vmock Resume has struggled to respond to the nimble upstart competition. Vmock Resume has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Capital Spending Reduction
– Even during the low interest decade, Vmock Resume 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company, it seems that the employees of Vmock Resume 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.
Skills based hiring
– The stress on hiring functional specialists at Vmock Resume 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company | 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company are -
Manufacturing automation
– Vmock Resume can use the latest technology developments to improve its manufacturing and designing process in Strategy & Execution 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.
Buying journey improvements
– Vmock Resume can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 Strategy & Execution industry, but it has also influenced the consumer preferences. Vmock Resume can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Creating value in data economy
– The success of analytics program of Vmock Resume has opened avenues for new revenue streams for the organization in the industry. This can help Vmock Resume to build a more holistic ecosystem as suggested in the VMock: Pivoting to Succeed and Scale in a Technology Startup Company case study. Vmock Resume can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Vmock Resume 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Vmock Resume to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Vmock Resume can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Developing new processes and practices
– Vmock Resume can develop new processes and procedures in Strategy & Execution 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.
Better consumer reach
– The expansion of the 5G network will help Vmock Resume to increase its market reach. Vmock Resume 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Vmock Resume can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Leveraging digital technologies
– Vmock Resume 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.
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 Vmock Resume 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.
Loyalty marketing
– Vmock Resume 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Vmock Resume can use these opportunities to build new business models that can help the communities that Vmock Resume operates in. Secondly it can use opportunities from government spending in Strategy & Execution sector.
Threats VMock: Pivoting to Succeed and Scale in a Technology Startup Company External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company are -
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Vmock Resume 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company .
Environmental challenges
– Vmock Resume 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. Vmock Resume can take advantage of this fund but it will also bring new competitors in the Strategy & Execution industry.
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 Vmock Resume.
Regulatory challenges
– Vmock Resume 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 Strategy & Execution industry regulations.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company, Vmock Resume may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Strategy & Execution .
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. Vmock Resume will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Increasing wage structure of Vmock Resume
– 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 Vmock Resume.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Vmock Resume in the Strategy & Execution industry. The Strategy & Execution 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 Vmock Resume is facing in Strategy & Execution sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
High dependence on third party suppliers
– Vmock Resume 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.
Stagnating economy with rate increase
– Vmock Resume 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.
Weighted SWOT Analysis of VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 Vmock Resume needs to make to build a sustainable competitive advantage.