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 - – increasing household debt because of falling income levels, geopolitical disruptions, increasing inequality as vast percentage of new income is going to the top 1%, increasing energy prices, wage bills are increasing, digital marketing is dominated by two big players Facebook and Google, talent flight as more people leaving formal jobs,
there is backlash against globalization, challanges to central banks by blockchain based private currencies, 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.
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.
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.
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.
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.
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.
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.
Diverse revenue streams
– Vmock Resume is present in almost all the verticals within the industry. This has provided firm in VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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.
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.
Effective Research and Development (R&D)
– Vmock Resume 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High brand equity
– Vmock Resume has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Vmock Resume to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
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 -
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.
Lack of clear differentiation of Vmock Resume products
– To increase the profitability and margins on the products, Vmock Resume needs to provide more differentiated products than what it is currently offering in the marketplace.
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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Vmock Resume is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
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.
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.
Aligning sales with marketing
– It come across in the case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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 VMock: Pivoting to Succeed and Scale in a Technology Startup Company can leverage the sales team experience to cultivate customer relationships as Vmock Resume is planning to shift buying processes online.
No frontier risks strategy
– After analyzing the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company, it seems that company is thinking about the frontier risks that can impact Strategy & Execution 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.
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.
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 Vmock Resume supply chain. Even after few cautionary changes mentioned in the HBR case study - VMock: Pivoting to Succeed and Scale in a Technology Startup Company, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Vmock Resume vulnerable to further global disruptions in South East Asia.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study VMock: Pivoting to Succeed and Scale in a Technology Startup Company, is just above the industry average. Vmock Resume 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 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 -
Learning at scale
– Online learning technologies has now opened space for Vmock Resume 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.
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.
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.
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.
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.
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.
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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Vmock Resume is facing challenges because of the dominance of functional experts in the organization. VMock: Pivoting to Succeed and Scale in a Technology Startup Company 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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Strategy & Execution industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Vmock Resume can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Vmock Resume can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
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.
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.
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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Vmock Resume can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
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 -
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.
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. Vmock Resume needs to understand the core reasons impacting the Strategy & Execution industry. This will help it in building a better workplace.
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.
Technology acceleration in Forth Industrial Revolution
– Vmock Resume has witnessed rapid integration of technology during Covid-19 in the Strategy & Execution industry. As one of the leading players in the industry, Vmock Resume needs to keep up with the evolution of technology in the Strategy & Execution 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.
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.
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.
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.
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.
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 .
Easy access to finance
– Easy access to finance in Strategy & Execution field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Vmock Resume can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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.
Consumer confidence and its impact on Vmock Resume 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.
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.
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.