The Use of Social Media to Detect Corporate Fraud: A Case Study Approach SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of The Use of Social Media to Detect Corporate Fraud: A Case Study Approach
Social media is a rapid and dynamic medium of communication that forms a crucial component of the modern business toolkit. It can be used to detect corporate fraud by tapping into collective user wisdom, also known as the wisdom of crowds. This article highlights both the potential and limitations of social media in detecting corporate fraud by examining information from traditional media and social media for a recent corporate fraud case (i.e., Empowered Products Inc.). Using text analysis of information posted on traditional media compared to social media, this article illustrates how social media provides an increased level of relevant information in a faster manner. By using wisdom of crowds in this way, social media platforms such as Twitter can improve organizational knowledge quality. We identify methods for managers to utilize social media to improve their organizational knowledge management.
Swot Analysis of "The Use of Social Media to Detect Corporate Fraud: A Case Study Approach" written by Feng Xiong, Larelle Chapple, Haiying Yin includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Media Fraud facing as an external strategic factors. Some of the topics covered in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach case study are - Strategic Management Strategies, Knowledge management, Marketing, Social platforms and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the The Use of Social Media to Detect Corporate Fraud: A Case Study Approach casestudy better are - – increasing transportation and logistics costs, geopolitical disruptions, challanges to central banks by blockchain based private currencies, technology disruption, increasing inequality as vast percentage of new income is going to the top 1%, competitive advantages are harder to sustain because of technology dispersion, increasing household debt because of falling income levels,
customer relationship management is fast transforming because of increasing concerns over data privacy, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of The Use of Social Media to Detect Corporate Fraud: A Case Study Approach
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Media Fraud, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Media Fraud 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach can be done for the following purposes –
1. Strategic planning using facts provided in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach case study
2. Improving business portfolio management of Media Fraud
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Media Fraud
Strengths The Use of Social Media to Detect Corporate Fraud: A Case Study Approach | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Media Fraud in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach Harvard Business Review case study are -
Ability to recruit top talent
– Media Fraud is one of the leading recruiters in the industry. Managers in the The Use of Social Media to Detect Corporate Fraud: A Case Study Approach are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Cross disciplinary teams
– Horizontal connected teams at the Media Fraud 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.
Sustainable margins compare to other players in Leadership & Managing People industry
– The Use of Social Media to Detect Corporate Fraud: A Case Study Approach firm has clearly differentiated products in the market place. This has enabled Media Fraud to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Media Fraud to invest into research and development (R&D) and innovation.
Successful track record of launching new products
– Media Fraud has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Media Fraud 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.
Innovation driven organization
– Media Fraud is one of the most innovative firm in sector. Manager in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Operational resilience
– The operational resilience strategy in the The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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.
Highly skilled collaborators
– Media Fraud has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in The Use of Social Media to Detect Corporate Fraud: A Case Study Approach HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Effective Research and Development (R&D)
– Media Fraud 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach - 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 Media Fraud in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Strong track record of project management
– Media Fraud is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Ability to lead change in Leadership & Managing People field
– Media Fraud 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 Media Fraud in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Organizational Resilience of Media Fraud
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Media Fraud does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses The Use of Social Media to Detect Corporate Fraud: A Case Study Approach | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of The Use of Social Media to Detect Corporate Fraud: A Case Study Approach are -
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 Media Fraud supply chain. Even after few cautionary changes mentioned in the HBR case study - The Use of Social Media to Detect Corporate Fraud: A Case Study Approach, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Media Fraud vulnerable to further global disruptions in South East Asia.
Slow to strategic competitive environment developments
– As The Use of Social Media to Detect Corporate Fraud: A Case Study Approach HBR case study mentions - Media Fraud 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.
Products dominated business model
– Even though Media Fraud 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 - The Use of Social Media to Detect Corporate Fraud: A Case Study Approach should strive to include more intangible value offerings along with its core products and services.
Workers concerns about automation
– As automation is fast increasing in the segment, Media Fraud 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.
Skills based hiring
– The stress on hiring functional specialists at Media Fraud has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
High operating costs
– Compare to the competitors, firm in the HBR case study The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 Media Fraud 's lucrative customers.
Interest costs
– Compare to the competition, Media Fraud 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 bargaining power of channel partners
– Because of the regulatory requirements, Feng Xiong, Larelle Chapple, Haiying Yin suggests that, Media Fraud 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 Media Fraud has relatively successful track record of launching new products.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study The Use of Social Media to Detect Corporate Fraud: A Case Study Approach, in the dynamic environment Media Fraud has struggled to respond to the nimble upstart competition. Media Fraud has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Need for greater diversity
– Media Fraud 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.
Opportunities The Use of Social Media to Detect Corporate Fraud: A Case Study Approach | 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach are -
Manufacturing automation
– Media Fraud can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People 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.
Building a culture of innovation
– managers at Media Fraud can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Leadership & Managing People segment.
Using analytics as competitive advantage
– Media Fraud 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Media Fraud to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Leadership & Managing People industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Media Fraud 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. Media Fraud 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Media Fraud can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Better consumer reach
– The expansion of the 5G network will help Media Fraud to increase its market reach. Media Fraud 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.
Learning at scale
– Online learning technologies has now opened space for Media Fraud 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.
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 Media Fraud 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.
Creating value in data economy
– The success of analytics program of Media Fraud has opened avenues for new revenue streams for the organization in the industry. This can help Media Fraud to build a more holistic ecosystem as suggested in the The Use of Social Media to Detect Corporate Fraud: A Case Study Approach case study. Media Fraud can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Media Fraud is facing challenges because of the dominance of functional experts in the organization. The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Media Fraud can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Media Fraud 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, The Use of Social Media to Detect Corporate Fraud: A Case Study Approach, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Loyalty marketing
– Media Fraud has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Threats The Use of Social Media to Detect Corporate Fraud: A Case Study Approach External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study The Use of Social Media to Detect Corporate Fraud: A Case Study Approach are -
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 Media Fraud in the Leadership & Managing People sector and impact the bottomline of the organization.
Increasing wage structure of Media Fraud
– 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 Media Fraud.
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. Media Fraud 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 international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Media Fraud 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach .
High dependence on third party suppliers
– Media Fraud 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Media Fraud with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
Stagnating economy with rate increase
– Media Fraud 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Media Fraud in the Leadership & Managing People industry. The Leadership & Managing People industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Environmental challenges
– Media Fraud 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. Media Fraud can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People 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 Media Fraud.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study The Use of Social Media to Detect Corporate Fraud: A Case Study Approach, Media Fraud may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Leadership & Managing People .
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. Media Fraud needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Weighted SWOT Analysis of The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 The Use of Social Media to Detect Corporate Fraud: A Case Study Approach 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 Media Fraud needs to make to build a sustainable competitive advantage.