Engaging Employees as Social Innovators SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

Case Study SWOT Analysis Solution

Case Study Description of Engaging Employees as Social Innovators

This article explores a variety of ways employees are being engaged as social innovators in their companies or as co-creators in partnerships with other businesses, NGOs, and/or government agencies. They are engaged as intrapreneurs in company innovations contests, in partnerships with external social entrepreneurs, and in pro bono global service programs, and as members of innovation teams in organization-wide innovations. The study compares and contrasts four employee engagement platforms and assesses their impact on participating employees, companies, and communities from these efforts.

Authors :: Philip Mirvis, Bradley Googins

Topics :: Innovation & Entrepreneurship

Tags :: Labor, Social enterprise, Social responsibility, Sustainability, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

Swot Analysis of "Engaging Employees as Social Innovators" written by Philip Mirvis, Bradley Googins includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Innovators Innovations facing as an external strategic factors. Some of the topics covered in Engaging Employees as Social Innovators case study are - Strategic Management Strategies, Labor, Social enterprise, Social responsibility, Sustainability and Innovation & Entrepreneurship.

Some of the macro environment factors that can be used to understand the Engaging Employees as Social Innovators casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, digital marketing is dominated by two big players Facebook and Google, competitive advantages are harder to sustain because of technology dispersion, there is backlash against globalization, cloud computing is disrupting traditional business models, increasing household debt because of falling income levels, increasing energy prices, talent flight as more people leaving formal jobs, wage bills are increasing, etc

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Introduction to SWOT Analysis of Engaging Employees as Social Innovators

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Engaging Employees as Social Innovators case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Innovators Innovations, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Innovators Innovations 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.

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SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix

SWOT analysis of Engaging Employees as Social Innovators can be done for the following purposes –
1. Strategic planning using facts provided in Engaging Employees as Social Innovators case study
2. Improving business portfolio management of Innovators Innovations
3. Assessing feasibility of the new initiative in Innovation & Entrepreneurship field.
4. Making a Innovation & Entrepreneurship topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Innovators Innovations

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Strengths Engaging Employees as Social Innovators | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Innovators Innovations in Engaging Employees as Social Innovators Harvard Business Review case study are -

Superior customer experience

– The customer experience strategy of Innovators Innovations in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Low bargaining power of suppliers

– Suppliers of Innovators Innovations in the sector have low bargaining power. Engaging Employees as Social Innovators has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Innovators Innovations to manage not only supply disruptions but also source products at highly competitive prices.

Strong track record of project management

– Innovators Innovations is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.

Cross disciplinary teams

– Horizontal connected teams at the Innovators Innovations 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.

High switching costs

– The high switching costs that Innovators Innovations 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.

Analytics focus

– Innovators Innovations 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 Philip Mirvis, Bradley Googins 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.

High brand equity

– Innovators Innovations has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Innovators Innovations to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Diverse revenue streams

– Innovators Innovations is present in almost all the verticals within the industry. This has provided firm in Engaging Employees as Social Innovators 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.

Operational resilience

– The operational resilience strategy in the Engaging Employees as Social Innovators 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.

Sustainable margins compare to other players in Innovation & Entrepreneurship industry

– Engaging Employees as Social Innovators firm has clearly differentiated products in the market place. This has enabled Innovators Innovations to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Innovators Innovations to invest into research and development (R&D) and innovation.

Ability to lead change in Innovation & Entrepreneurship field

– Innovators Innovations 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 Innovators Innovations in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

Digital Transformation in Innovation & Entrepreneurship segment

- digital transformation varies from industry to industry. For Innovators Innovations digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Innovators Innovations 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.

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Weaknesses Engaging Employees as Social Innovators | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Engaging Employees as Social Innovators are -

Aligning sales with marketing

– It come across in the case study Engaging Employees as Social Innovators 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 Engaging Employees as Social Innovators can leverage the sales team experience to cultivate customer relationships as Innovators Innovations is planning to shift buying processes online.

Workers concerns about automation

– As automation is fast increasing in the segment, Innovators Innovations 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.

Ability to respond to the competition

– As the decision making is very deliberative, highlighted in the case study Engaging Employees as Social Innovators, in the dynamic environment Innovators Innovations has struggled to respond to the nimble upstart competition. Innovators Innovations has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.

No frontier risks strategy

– After analyzing the HBR case study Engaging Employees as Social Innovators, it seems that company is thinking about the frontier risks that can impact Innovation & Entrepreneurship 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.

Employees’ incomplete understanding of strategy

– From the instances in the HBR case study Engaging Employees as Social Innovators, it seems that the employees of Innovators Innovations 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 dependence on star products

– The top 2 products and services of the firm as mentioned in the Engaging Employees as Social Innovators 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 Innovators Innovations has relatively successful track record of launching new products.

Slow decision making process

– As mentioned earlier in the report, Innovators Innovations has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Innovators Innovations even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.

Products dominated business model

– Even though Innovators Innovations 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 - Engaging Employees as Social Innovators should strive to include more intangible value offerings along with its core products and services.

High bargaining power of channel partners

– Because of the regulatory requirements, Philip Mirvis, Bradley Googins suggests that, Innovators Innovations 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 Innovators Innovations, firm in the HBR case study Engaging Employees as Social Innovators needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.

Need for greater diversity

– Innovators Innovations 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.

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Opportunities Engaging Employees as Social Innovators | 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 Engaging Employees as Social Innovators are -

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Innovation & Entrepreneurship industry, but it has also influenced the consumer preferences. Innovators Innovations can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Innovators Innovations 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 Innovators Innovations to hire the very best people irrespective of their geographical location.

Low interest rates

– Even though inflation is raising its head in most developed economies, Innovators Innovations 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.

Developing new processes and practices

– Innovators Innovations can develop new processes and procedures in Innovation & Entrepreneurship 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.

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 Innovators Innovations in the consumer business. Now Innovators Innovations can target international markets with far fewer capital restrictions requirements than the existing system.

Creating value in data economy

– The success of analytics program of Innovators Innovations has opened avenues for new revenue streams for the organization in the industry. This can help Innovators Innovations to build a more holistic ecosystem as suggested in the Engaging Employees as Social Innovators case study. Innovators Innovations can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.

Lowering marketing communication costs

– 5G expansion will open new opportunities for Innovators Innovations in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Innovation & Entrepreneurship segment, and it will provide faster access to the consumers.

Leveraging digital technologies

– Innovators Innovations 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.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Innovators Innovations 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, Engaging Employees as Social Innovators, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Manufacturing automation

– Innovators Innovations can use the latest technology developments to improve its manufacturing and designing process in Innovation & Entrepreneurship 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.

Changes in consumer behavior post Covid-19

– Consumer behavior has changed in the Innovation & Entrepreneurship industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Innovators Innovations 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. Innovators Innovations 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.

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. Innovators Innovations can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Building a culture of innovation

– managers at Innovators Innovations 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 Innovation & Entrepreneurship segment.

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Threats Engaging Employees as Social Innovators External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats mentioned in the HBR case study Engaging Employees as Social Innovators are -

Regulatory challenges

– Innovators Innovations 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 Innovation & Entrepreneurship industry regulations.

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 Innovators Innovations.

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. Innovators Innovations needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.

Shortening product life cycle

– it is one of the major threat that Innovators Innovations is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, 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 Engaging Employees as Social Innovators, Innovators Innovations may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Innovation & Entrepreneurship .

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 Innovators Innovations business can come under increasing regulations regarding data privacy, data security, etc.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Innovators Innovations in the Innovation & Entrepreneurship industry. The Innovation & Entrepreneurship 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.

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 Innovators Innovations in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.

Consumer confidence and its impact on Innovators Innovations demand

– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.

Increasing wage structure of Innovators Innovations

– 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 Innovators Innovations.

Stagnating economy with rate increase

– Innovators Innovations 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 international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, Innovators Innovations 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 Engaging Employees as Social Innovators .

Easy access to finance

– Easy access to finance in Innovation & Entrepreneurship field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Innovators Innovations can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

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Weighted SWOT Analysis of Engaging Employees as Social Innovators 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 Engaging Employees as Social Innovators 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 Engaging Employees as Social Innovators 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 Engaging Employees as Social Innovators 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 Engaging Employees as Social Innovators 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 Innovators Innovations needs to make to build a sustainable competitive advantage.

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