Polaroid: Managing Environmental Responsibilities and Their Costs SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Finance & Accounting
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Polaroid: Managing Environmental Responsibilities and Their Costs
Costs relating to companies' impact on the environment are increasing at a dramatic rate. Thus, managing, measuring, and reporting of these costs has become an important issue for managers. Accounting for environmental responsibilities is one of the largest and most challenging issues facing accountants today. This case provides an example of how one company is reacting to the increased pressures for environmental responsibility and how environmental responsibilities affect management accounting, financial reporting, and management control.
Authors :: Mary E. Barth, Marc J. Epstein, Richard D. Stark
Swot Analysis of "Polaroid: Managing Environmental Responsibilities and Their Costs" written by Mary E. Barth, Marc J. Epstein, Richard D. Stark includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Environmental Responsibilities facing as an external strategic factors. Some of the topics covered in Polaroid: Managing Environmental Responsibilities and Their Costs case study are - Strategic Management Strategies, Financial management, Social responsibility, Sustainability and Finance & Accounting.
Some of the macro environment factors that can be used to understand the Polaroid: Managing Environmental Responsibilities and Their Costs casestudy better are - – supply chains are disrupted by pandemic , increasing household debt because of falling income levels, there is backlash against globalization, talent flight as more people leaving formal jobs, increasing inequality as vast percentage of new income is going to the top 1%, cloud computing is disrupting traditional business models, technology disruption,
geopolitical disruptions, banking and financial system is disrupted by Bitcoin and other crypto currencies, etc
Introduction to SWOT Analysis of Polaroid: Managing Environmental Responsibilities and Their Costs
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Polaroid: Managing Environmental Responsibilities and Their Costs case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Environmental Responsibilities, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Environmental Responsibilities 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 Polaroid: Managing Environmental Responsibilities and Their Costs can be done for the following purposes –
1. Strategic planning using facts provided in Polaroid: Managing Environmental Responsibilities and Their Costs case study
2. Improving business portfolio management of Environmental Responsibilities
3. Assessing feasibility of the new initiative in Finance & Accounting field.
4. Making a Finance & Accounting topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Environmental Responsibilities
Strengths Polaroid: Managing Environmental Responsibilities and Their Costs | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Environmental Responsibilities in Polaroid: Managing Environmental Responsibilities and Their Costs Harvard Business Review case study are -
High switching costs
– The high switching costs that Environmental Responsibilities 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.
Superior customer experience
– The customer experience strategy of Environmental Responsibilities in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Analytics focus
– Environmental Responsibilities 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 Mary E. Barth, Marc J. Epstein, Richard D. Stark 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.
Digital Transformation in Finance & Accounting segment
- digital transformation varies from industry to industry. For Environmental Responsibilities digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Environmental Responsibilities 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.
Ability to lead change in Finance & Accounting field
– Environmental Responsibilities 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 Environmental Responsibilities in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Ability to recruit top talent
– Environmental Responsibilities is one of the leading recruiters in the industry. Managers in the Polaroid: Managing Environmental Responsibilities and Their Costs are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Sustainable margins compare to other players in Finance & Accounting industry
– Polaroid: Managing Environmental Responsibilities and Their Costs firm has clearly differentiated products in the market place. This has enabled Environmental Responsibilities to fetch slight price premium compare to the competitors in the Finance & Accounting industry. The sustainable margins have also helped Environmental Responsibilities to invest into research and development (R&D) and innovation.
High brand equity
– Environmental Responsibilities has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Environmental Responsibilities to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Innovation driven organization
– Environmental Responsibilities is one of the most innovative firm in sector. Manager in Polaroid: Managing Environmental Responsibilities and Their Costs Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Effective Research and Development (R&D)
– Environmental Responsibilities 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 Polaroid: Managing Environmental Responsibilities and Their Costs - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Highly skilled collaborators
– Environmental Responsibilities 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 Polaroid: Managing Environmental Responsibilities and Their Costs HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Learning organization
- Environmental Responsibilities 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 Environmental Responsibilities is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Polaroid: Managing Environmental Responsibilities and Their Costs Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses Polaroid: Managing Environmental Responsibilities and Their Costs | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Polaroid: Managing Environmental Responsibilities and Their Costs are -
Skills based hiring
– The stress on hiring functional specialists at Environmental Responsibilities 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.
Slow to strategic competitive environment developments
– As Polaroid: Managing Environmental Responsibilities and Their Costs HBR case study mentions - Environmental Responsibilities takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
High operating costs
– Compare to the competitors, firm in the HBR case study Polaroid: Managing Environmental Responsibilities and Their Costs 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 Environmental Responsibilities 's lucrative customers.
High cash cycle compare to competitors
Environmental Responsibilities 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.
Need for greater diversity
– Environmental Responsibilities 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.
No frontier risks strategy
– After analyzing the HBR case study Polaroid: Managing Environmental Responsibilities and Their Costs, it seems that company is thinking about the frontier risks that can impact Finance & Accounting 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Environmental Responsibilities is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Polaroid: Managing Environmental Responsibilities and Their Costs can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Polaroid: Managing Environmental Responsibilities and Their Costs, it seems that the employees of Environmental Responsibilities 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.
Capital Spending Reduction
– Even during the low interest decade, Environmental Responsibilities 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 star products
– The top 2 products and services of the firm as mentioned in the Polaroid: Managing Environmental Responsibilities and Their Costs 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 Environmental Responsibilities has relatively successful track record of launching new products.
Workers concerns about automation
– As automation is fast increasing in the segment, Environmental Responsibilities 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.
Opportunities Polaroid: Managing Environmental Responsibilities and Their Costs | 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 Polaroid: Managing Environmental Responsibilities and Their Costs are -
Leveraging digital technologies
– Environmental Responsibilities 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 Environmental Responsibilities has opened avenues for new revenue streams for the organization in the industry. This can help Environmental Responsibilities to build a more holistic ecosystem as suggested in the Polaroid: Managing Environmental Responsibilities and Their Costs case study. Environmental Responsibilities can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Buying journey improvements
– Environmental Responsibilities can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Polaroid: Managing Environmental Responsibilities and Their Costs suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Environmental Responsibilities is facing challenges because of the dominance of functional experts in the organization. Polaroid: Managing Environmental Responsibilities and Their Costs 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Environmental Responsibilities 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.
Learning at scale
– Online learning technologies has now opened space for Environmental Responsibilities 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Finance & Accounting industry, but it has also influenced the consumer preferences. Environmental Responsibilities can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Finance & Accounting industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Environmental Responsibilities 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. Environmental Responsibilities 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.
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 Environmental Responsibilities 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Environmental Responsibilities can use these opportunities to build new business models that can help the communities that Environmental Responsibilities operates in. Secondly it can use opportunities from government spending in Finance & Accounting sector.
Manufacturing automation
– Environmental Responsibilities can use the latest technology developments to improve its manufacturing and designing process in Finance & Accounting 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.
Using analytics as competitive advantage
– Environmental Responsibilities 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 Polaroid: Managing Environmental Responsibilities and Their Costs - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Environmental Responsibilities to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Developing new processes and practices
– Environmental Responsibilities can develop new processes and procedures in Finance & Accounting 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.
Threats Polaroid: Managing Environmental Responsibilities and Their Costs External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Polaroid: Managing Environmental Responsibilities and Their Costs are -
High dependence on third party suppliers
– Environmental Responsibilities 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 Environmental Responsibilities business can come under increasing regulations regarding data privacy, data security, etc.
Increasing wage structure of Environmental Responsibilities
– 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 Environmental Responsibilities.
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.
Consumer confidence and its impact on Environmental Responsibilities 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 Environmental Responsibilities in the Finance & Accounting sector and impact the bottomline of the organization.
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. Environmental Responsibilities needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Environmental Responsibilities 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 Polaroid: Managing Environmental Responsibilities and Their Costs .
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Polaroid: Managing Environmental Responsibilities and Their Costs, Environmental Responsibilities may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Finance & Accounting .
Easy access to finance
– Easy access to finance in Finance & Accounting field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Environmental Responsibilities can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Environmental Responsibilities in the Finance & Accounting industry. The Finance & Accounting 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.
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 Environmental Responsibilities.
Stagnating economy with rate increase
– Environmental Responsibilities can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Weighted SWOT Analysis of Polaroid: Managing Environmental Responsibilities and Their Costs 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 Polaroid: Managing Environmental Responsibilities and Their Costs 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 Polaroid: Managing Environmental Responsibilities and Their Costs 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 Polaroid: Managing Environmental Responsibilities and Their Costs 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 Polaroid: Managing Environmental Responsibilities and Their Costs 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 Environmental Responsibilities needs to make to build a sustainable competitive advantage.