Analytics in Empirical/Archival Financial Accounting Research SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Finance & Accounting
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Analytics in Empirical/Archival Financial Accounting Research
In this article, we describe various analytics in empirical/archival financial accounting research. We focus the discussion on research questions that are central to accounting research, analytics used to test hypotheses, and evidence. We also describe voice and text analysis, which is generating interesting new datasets and hypothesis tests, offering promising potential for future studies. Our study seeks to (1) inform business professionals about state-of-the-art analytics in accounting research and (2) trigger academics to pursue creative new research opportunities.
Swot Analysis of "Analytics in Empirical/Archival Financial Accounting Research" written by Michael Crawley, James Wahlen includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Analytics Research facing as an external strategic factors. Some of the topics covered in Analytics in Empirical/Archival Financial Accounting Research case study are - Strategic Management Strategies, Analytics, Financial management, Financial markets, Market research, Pricing and Finance & Accounting.
Some of the macro environment factors that can be used to understand the Analytics in Empirical/Archival Financial Accounting Research casestudy better are - – increasing energy prices, there is increasing trade war between United States & China, challanges to central banks by blockchain based private currencies, supply chains are disrupted by pandemic , increasing commodity prices, 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%,
banking and financial system is disrupted by Bitcoin and other crypto currencies, digital marketing is dominated by two big players Facebook and Google, etc
Introduction to SWOT Analysis of Analytics in Empirical/Archival Financial Accounting Research
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Analytics in Empirical/Archival Financial Accounting Research case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Analytics Research, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Analytics Research 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 Analytics in Empirical/Archival Financial Accounting Research can be done for the following purposes –
1. Strategic planning using facts provided in Analytics in Empirical/Archival Financial Accounting Research case study
2. Improving business portfolio management of Analytics Research
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 Analytics Research
Strengths Analytics in Empirical/Archival Financial Accounting Research | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Analytics Research in Analytics in Empirical/Archival Financial Accounting Research Harvard Business Review case study are -
Ability to lead change in Finance & Accounting field
– Analytics Research 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 Analytics Research in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High switching costs
– The high switching costs that Analytics Research 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.
Diverse revenue streams
– Analytics Research is present in almost all the verticals within the industry. This has provided firm in Analytics in Empirical/Archival Financial Accounting Research case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Analytics focus
– Analytics Research 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 Michael Crawley, James Wahlen 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.
Strong track record of project management
– Analytics Research is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Digital Transformation in Finance & Accounting segment
- digital transformation varies from industry to industry. For Analytics Research digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Analytics Research 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.
Organizational Resilience of Analytics Research
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Analytics Research does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
High brand equity
– Analytics Research has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Analytics Research to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Highly skilled collaborators
– Analytics Research 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 Analytics in Empirical/Archival Financial Accounting Research HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Learning organization
- Analytics Research 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 Analytics Research is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Analytics in Empirical/Archival Financial Accounting Research Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the Analytics in Empirical/Archival Financial Accounting Research 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.
Effective Research and Development (R&D)
– Analytics Research 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 Analytics in Empirical/Archival Financial Accounting Research - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Weaknesses Analytics in Empirical/Archival Financial Accounting Research | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Analytics in Empirical/Archival Financial Accounting Research 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 Analytics Research supply chain. Even after few cautionary changes mentioned in the HBR case study - Analytics in Empirical/Archival Financial Accounting Research, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Analytics Research vulnerable to further global disruptions in South East Asia.
Interest costs
– Compare to the competition, Analytics Research 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.
Skills based hiring
– The stress on hiring functional specialists at Analytics Research 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 Analytics in Empirical/Archival Financial Accounting Research 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 Analytics in Empirical/Archival Financial Accounting Research can leverage the sales team experience to cultivate customer relationships as Analytics Research is planning to shift buying processes online.
Need for greater diversity
– Analytics Research 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Analytics in Empirical/Archival Financial Accounting Research, it seems that the employees of Analytics Research 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 operating costs
– Compare to the competitors, firm in the HBR case study Analytics in Empirical/Archival Financial Accounting Research 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 Analytics Research 's lucrative customers.
Slow decision making process
– As mentioned earlier in the report, Analytics Research 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. Analytics Research 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.
Increasing silos among functional specialists
– The organizational structure of Analytics Research is dominated by functional specialists. It is not different from other players in the Finance & Accounting segment. Analytics Research needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Analytics Research to focus more on services rather than just following the product oriented approach.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Analytics Research is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Analytics in Empirical/Archival Financial Accounting Research can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Products dominated business model
– Even though Analytics Research 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 - Analytics in Empirical/Archival Financial Accounting Research should strive to include more intangible value offerings along with its core products and services.
Opportunities Analytics in Empirical/Archival Financial Accounting Research | 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 Analytics in Empirical/Archival Financial Accounting Research are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Analytics Research can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Low interest rates
– Even though inflation is raising its head in most developed economies, Analytics Research 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
– Analytics Research 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.
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. Analytics Research can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Creating value in data economy
– The success of analytics program of Analytics Research has opened avenues for new revenue streams for the organization in the industry. This can help Analytics Research to build a more holistic ecosystem as suggested in the Analytics in Empirical/Archival Financial Accounting Research case study. Analytics Research can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Loyalty marketing
– Analytics Research 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Analytics Research can use these opportunities to build new business models that can help the communities that Analytics Research operates in. Secondly it can use opportunities from government spending in Finance & Accounting sector.
Better consumer reach
– The expansion of the 5G network will help Analytics Research to increase its market reach. Analytics Research 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.
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. Analytics Research 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. Analytics Research 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Analytics Research 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, Analytics in Empirical/Archival Financial Accounting Research, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Analytics Research in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Finance & Accounting segment, and it will provide faster access to the consumers.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Analytics Research is facing challenges because of the dominance of functional experts in the organization. Analytics in Empirical/Archival Financial Accounting Research 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.
Building a culture of innovation
– managers at Analytics Research 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 Finance & Accounting segment.
Threats Analytics in Empirical/Archival Financial Accounting Research External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Analytics in Empirical/Archival Financial Accounting Research are -
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.
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 Analytics Research in the Finance & Accounting sector and impact the bottomline of the organization.
Increasing wage structure of Analytics Research
– 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 Analytics Research.
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 Analytics Research business can come under increasing regulations regarding data privacy, data security, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Analytics Research 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 Analytics in Empirical/Archival Financial Accounting Research .
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. Analytics Research 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.
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. Analytics Research needs to understand the core reasons impacting the Finance & Accounting industry. This will help it in building a better workplace.
Shortening product life cycle
– it is one of the major threat that Analytics Research is facing in Finance & Accounting sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Analytics Research can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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 Analytics Research.
Environmental challenges
– Analytics Research 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. Analytics Research can take advantage of this fund but it will also bring new competitors in the Finance & Accounting industry.
Regulatory challenges
– Analytics Research 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 Finance & Accounting industry regulations.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Analytics Research with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Weighted SWOT Analysis of Analytics in Empirical/Archival Financial Accounting Research 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 Analytics in Empirical/Archival Financial Accounting Research 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 Analytics in Empirical/Archival Financial Accounting Research 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 Analytics in Empirical/Archival Financial Accounting Research 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 Analytics in Empirical/Archival Financial Accounting Research 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 Analytics Research needs to make to build a sustainable competitive advantage.
