Swot Analysis of "Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2)" written by Luann J. Lynch, Jennifer Forman, Graham Gillam includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Handout Uv6911 facing as an external strategic factors. Some of the topics covered in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) case study are - Strategic Management Strategies, Assessing performance, Balanced scorecard and Finance & Accounting.
Some of the macro environment factors that can be used to understand the Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) casestudy better are - – supply chains are disrupted by pandemic , increasing commodity prices, increasing transportation and logistics costs, talent flight as more people leaving formal jobs, central banks are concerned over increasing inflation, increasing household debt because of falling income levels, technology disruption,
geopolitical disruptions, there is increasing trade war between United States & China, etc
Introduction to SWOT Analysis of Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Handout Uv6911, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Handout Uv6911 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) can be done for the following purposes –
1. Strategic planning using facts provided in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) case study
2. Improving business portfolio management of Handout Uv6911
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 Handout Uv6911
Strengths Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Handout Uv6911 in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) Harvard Business Review case study are -
Analytics focus
– Handout Uv6911 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 Luann J. Lynch, Jennifer Forman, Graham Gillam 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
– Handout Uv6911 has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Handout Uv6911 to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Strong track record of project management
– Handout Uv6911 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 Handout Uv6911 digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Handout Uv6911 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.
Superior customer experience
– The customer experience strategy of Handout Uv6911 in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
High switching costs
– The high switching costs that Handout Uv6911 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.
Sustainable margins compare to other players in Finance & Accounting industry
– Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) firm has clearly differentiated products in the market place. This has enabled Handout Uv6911 to fetch slight price premium compare to the competitors in the Finance & Accounting industry. The sustainable margins have also helped Handout Uv6911 to invest into research and development (R&D) and innovation.
Training and development
– Handout Uv6911 has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Diverse revenue streams
– Handout Uv6911 is present in almost all the verticals within the industry. This has provided firm in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Successful track record of launching new products
– Handout Uv6911 has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Handout Uv6911 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.
Learning organization
- Handout Uv6911 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 Handout Uv6911 is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Ability to lead change in Finance & Accounting field
– Handout Uv6911 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 Handout Uv6911 in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Weaknesses Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) are -
Aligning sales with marketing
– It come across in the case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) can leverage the sales team experience to cultivate customer relationships as Handout Uv6911 is planning to shift buying processes online.
High cash cycle compare to competitors
Handout Uv6911 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.
Products dominated business model
– Even though Handout Uv6911 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 - Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) should strive to include more intangible value offerings along with its core products and services.
Capital Spending Reduction
– Even during the low interest decade, Handout Uv6911 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2), it seems that the employees of Handout Uv6911 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.
Need for greater diversity
– Handout Uv6911 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.
Interest costs
– Compare to the competition, Handout Uv6911 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Handout Uv6911 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Handout Uv6911 is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2), is just above the industry average. Handout Uv6911 needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
High bargaining power of channel partners
– Because of the regulatory requirements, Luann J. Lynch, Jennifer Forman, Graham Gillam suggests that, Handout Uv6911 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.
Opportunities Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) | 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) are -
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 Handout Uv6911 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.
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. Handout Uv6911 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 Handout Uv6911 to increase its market reach. Handout Uv6911 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.
Leveraging digital technologies
– Handout Uv6911 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.
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. Handout Uv6911 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. Handout Uv6911 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Handout Uv6911 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.
Buying journey improvements
– Handout Uv6911 can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Handout Uv6911 can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of Handout Uv6911 has opened avenues for new revenue streams for the organization in the industry. This can help Handout Uv6911 to build a more holistic ecosystem as suggested in the Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) case study. Handout Uv6911 can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Developing new processes and practices
– Handout Uv6911 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.
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 Handout Uv6911 in the consumer business. Now Handout Uv6911 can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for Handout Uv6911 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Handout Uv6911 is facing challenges because of the dominance of functional experts in the organization. Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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.
Threats Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) are -
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. Handout Uv6911 can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Regulatory challenges
– Handout Uv6911 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2), Handout Uv6911 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 .
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Handout Uv6911 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.
Stagnating economy with rate increase
– Handout Uv6911 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.
High dependence on third party suppliers
– Handout Uv6911 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.
Shortening product life cycle
– it is one of the major threat that Handout Uv6911 is facing in Finance & Accounting sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Handout Uv6911.
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. Handout Uv6911 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.
Technology acceleration in Forth Industrial Revolution
– Handout Uv6911 has witnessed rapid integration of technology during Covid-19 in the Finance & Accounting industry. As one of the leading players in the industry, Handout Uv6911 needs to keep up with the evolution of technology in the Finance & Accounting sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Consumer confidence and its impact on Handout Uv6911 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.
Environmental challenges
– Handout Uv6911 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. Handout Uv6911 can take advantage of this fund but it will also bring new competitors in the Finance & Accounting industry.
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 Handout Uv6911 in the Finance & Accounting sector and impact the bottomline of the organization.
Weighted SWOT Analysis of Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Johansen's: The New Scorecard System-Corporate Customer Experience Manager (Handout 2) 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 Handout Uv6911 needs to make to build a sustainable competitive advantage.
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