Redefining Work: Three Forces That Are Reshaping Jobs SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Organizational Development
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Redefining Work: Three Forces That Are Reshaping Jobs
The authors argue that three forces are creating a profound shift in the very nature of work: technology, demographics and the power of pull-which has made customers in every industry more powerful than ever before. After discussing each force in detail, they describe how technology will reshape every job and how alternative work arrangements will continue to grow. They then describe the key implications of all of this for individuals (including 'engage in lifelong learning'), organizations (including 'implement new models of culture and rewards') and public policy (including 'transition support for income and healthcare'). Their hope is that their framework will help people proactively navigate the future of work and come together to make the transition as productive and smooth as possible.
Swot Analysis of "Redefining Work: Three Forces That Are Reshaping Jobs" written by John Hagel, Jeff Schwartz, Josh Bersin includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Describe Forces facing as an external strategic factors. Some of the topics covered in Redefining Work: Three Forces That Are Reshaping Jobs case study are - Strategic Management Strategies, and Organizational Development.
Some of the macro environment factors that can be used to understand the Redefining Work: Three Forces That Are Reshaping Jobs casestudy better are - – increasing government debt because of Covid-19 spendings, wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion, geopolitical disruptions, there is increasing trade war between United States & China, increasing transportation and logistics costs, customer relationship management is fast transforming because of increasing concerns over data privacy,
increasing inequality as vast percentage of new income is going to the top 1%, talent flight as more people leaving formal jobs, etc
Introduction to SWOT Analysis of Redefining Work: Three Forces That Are Reshaping Jobs
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Redefining Work: Three Forces That Are Reshaping Jobs case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Describe Forces, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Describe Forces 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 Redefining Work: Three Forces That Are Reshaping Jobs can be done for the following purposes –
1. Strategic planning using facts provided in Redefining Work: Three Forces That Are Reshaping Jobs case study
2. Improving business portfolio management of Describe Forces
3. Assessing feasibility of the new initiative in Organizational Development field.
4. Making a Organizational Development topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Describe Forces
Strengths Redefining Work: Three Forces That Are Reshaping Jobs | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Describe Forces in Redefining Work: Three Forces That Are Reshaping Jobs Harvard Business Review case study are -
High brand equity
– Describe Forces has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Describe Forces to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Effective Research and Development (R&D)
– Describe Forces 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 Redefining Work: Three Forces That Are Reshaping Jobs - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Superior customer experience
– The customer experience strategy of Describe Forces in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Operational resilience
– The operational resilience strategy in the Redefining Work: Three Forces That Are Reshaping Jobs Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Cross disciplinary teams
– Horizontal connected teams at the Describe Forces 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.
Learning organization
- Describe Forces 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 Describe Forces is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Redefining Work: Three Forces That Are Reshaping Jobs Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Analytics focus
– Describe Forces 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 John Hagel, Jeff Schwartz, Josh Bersin can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Diverse revenue streams
– Describe Forces is present in almost all the verticals within the industry. This has provided firm in Redefining Work: Three Forces That Are Reshaping Jobs 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.
Successful track record of launching new products
– Describe Forces has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Describe Forces 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 switching costs
– The high switching costs that Describe Forces 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.
Innovation driven organization
– Describe Forces is one of the most innovative firm in sector. Manager in Redefining Work: Three Forces That Are Reshaping Jobs Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Ability to recruit top talent
– Describe Forces is one of the leading recruiters in the industry. Managers in the Redefining Work: Three Forces That Are Reshaping Jobs are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Weaknesses Redefining Work: Three Forces That Are Reshaping Jobs | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Redefining Work: Three Forces That Are Reshaping Jobs are -
Workers concerns about automation
– As automation is fast increasing in the segment, Describe Forces 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Redefining Work: Three Forces That Are Reshaping Jobs, is just above the industry average. Describe Forces needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
High bargaining power of channel partners
– Because of the regulatory requirements, John Hagel, Jeff Schwartz, Josh Bersin suggests that, Describe Forces is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
Low market penetration in new markets
– Outside its home market of Describe Forces, firm in the HBR case study Redefining Work: Three Forces That Are Reshaping Jobs needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Skills based hiring
– The stress on hiring functional specialists at Describe Forces 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.
Aligning sales with marketing
– It come across in the case study Redefining Work: Three Forces That Are Reshaping Jobs 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 Redefining Work: Three Forces That Are Reshaping Jobs can leverage the sales team experience to cultivate customer relationships as Describe Forces is planning to shift buying processes online.
Products dominated business model
– Even though Describe Forces 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 - Redefining Work: Three Forces That Are Reshaping Jobs should strive to include more intangible value offerings along with its core products and services.
High cash cycle compare to competitors
Describe Forces 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.
Increasing silos among functional specialists
– The organizational structure of Describe Forces is dominated by functional specialists. It is not different from other players in the Organizational Development segment. Describe Forces needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Describe Forces to focus more on services rather than just following the product oriented approach.
Interest costs
– Compare to the competition, Describe Forces 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.
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 Describe Forces supply chain. Even after few cautionary changes mentioned in the HBR case study - Redefining Work: Three Forces That Are Reshaping Jobs, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Describe Forces vulnerable to further global disruptions in South East Asia.
Opportunities Redefining Work: Three Forces That Are Reshaping Jobs | 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 Redefining Work: Three Forces That Are Reshaping Jobs are -
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Describe Forces 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 Describe Forces to hire the very best people irrespective of their geographical location.
Learning at scale
– Online learning technologies has now opened space for Describe Forces 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 Describe Forces 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 Organizational Development segment.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Describe Forces can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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. Describe Forces 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 Describe Forces in the consumer business. Now Describe Forces can target international markets with far fewer capital restrictions requirements than the existing system.
Leveraging digital technologies
– Describe Forces 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Describe Forces can use these opportunities to build new business models that can help the communities that Describe Forces operates in. Secondly it can use opportunities from government spending in Organizational Development sector.
Developing new processes and practices
– Describe Forces can develop new processes and procedures in Organizational Development 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Organizational Development industry, but it has also influenced the consumer preferences. Describe Forces can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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 Describe Forces 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Describe Forces in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Organizational Development segment, and it will provide faster access to the consumers.
Low interest rates
– Even though inflation is raising its head in most developed economies, Describe Forces 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 Redefining Work: Three Forces That Are Reshaping Jobs External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Redefining Work: Three Forces That Are Reshaping Jobs are -
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Describe Forces 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 Redefining Work: Three Forces That Are Reshaping Jobs .
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.
Environmental challenges
– Describe Forces 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. Describe Forces can take advantage of this fund but it will also bring new competitors in the Organizational Development industry.
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. Describe Forces needs to understand the core reasons impacting the Organizational Development industry. This will help it in building a better workplace.
Regulatory challenges
– Describe Forces 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 Organizational Development industry regulations.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Describe Forces with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Consumer confidence and its impact on Describe Forces 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.
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 Describe Forces in the Organizational Development sector and impact the bottomline of the organization.
Stagnating economy with rate increase
– Describe Forces 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.
Increasing wage structure of Describe Forces
– 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 Describe Forces.
High dependence on third party suppliers
– Describe Forces 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.
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 Describe Forces business can come under increasing regulations regarding data privacy, data security, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Redefining Work: Three Forces That Are Reshaping Jobs, Describe Forces may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Organizational Development .
Weighted SWOT Analysis of Redefining Work: Three Forces That Are Reshaping Jobs 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 Redefining Work: Three Forces That Are Reshaping Jobs 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 Redefining Work: Three Forces That Are Reshaping Jobs 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 Redefining Work: Three Forces That Are Reshaping Jobs 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 Redefining Work: Three Forces That Are Reshaping Jobs 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 Describe Forces needs to make to build a sustainable competitive advantage.
