Getting What We Wish For: The Realities Of Business Education For A Global Economy SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
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Case Study SWOT Analysis Solution
Case Study Description of Getting What We Wish For: The Realities Of Business Education For A Global Economy
Business schools around the world have embraced globalization and, as a result, attempted to attract international students to their programs. Teaching diverse student groups has many advantages, but is not without its challenges, including cultural differences in educational expectations and student self-efficacy. The goal of this article is to suggest that we can create plans and activities capable of helping Asian students adapt more quickly to the expectations of Western education. We herein describe Rotterdam Business School's experiences in working with a diverse-mainly Asian-population of students, focusing on strategies that may assist them in adapting to the expectations of the global business school classroom.
Swot Analysis of "Getting What We Wish For: The Realities Of Business Education For A Global Economy" written by de Rijke Paul, Jonathan A. Plucker includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Expectations Diverse facing as an external strategic factors. Some of the topics covered in Getting What We Wish For: The Realities Of Business Education For A Global Economy case study are - Strategic Management Strategies, and Global Business.
Some of the macro environment factors that can be used to understand the Getting What We Wish For: The Realities Of Business Education For A Global Economy casestudy better are - – geopolitical disruptions, there is backlash against globalization, customer relationship management is fast transforming because of increasing concerns over data privacy, wage bills are increasing, increasing transportation and logistics costs, technology disruption, digital marketing is dominated by two big players Facebook and Google,
increasing commodity prices, increasing government debt because of Covid-19 spendings, etc
Introduction to SWOT Analysis of Getting What We Wish For: The Realities Of Business Education For A Global Economy
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Getting What We Wish For: The Realities Of Business Education For A Global Economy case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Expectations Diverse, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy can be done for the following purposes –
1. Strategic planning using facts provided in Getting What We Wish For: The Realities Of Business Education For A Global Economy case study
2. Improving business portfolio management of Expectations Diverse
3. Assessing feasibility of the new initiative in Global Business field.
4. Making a Global Business topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Expectations Diverse
Strengths Getting What We Wish For: The Realities Of Business Education For A Global Economy | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Expectations Diverse in Getting What We Wish For: The Realities Of Business Education For A Global Economy Harvard Business Review case study are -
Innovation driven organization
– Expectations Diverse is one of the most innovative firm in sector. Manager in Getting What We Wish For: The Realities Of Business Education For A Global Economy Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Learning organization
- Expectations Diverse 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 Expectations Diverse is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Getting What We Wish For: The Realities Of Business Education For A Global Economy Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Diverse revenue streams
– Expectations Diverse is present in almost all the verticals within the industry. This has provided firm in Getting What We Wish For: The Realities Of Business Education For A Global Economy 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.
Training and development
– Expectations Diverse has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Getting What We Wish For: The Realities Of Business Education For A Global Economy 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.
Sustainable margins compare to other players in Global Business industry
– Getting What We Wish For: The Realities Of Business Education For A Global Economy firm has clearly differentiated products in the market place. This has enabled Expectations Diverse to fetch slight price premium compare to the competitors in the Global Business industry. The sustainable margins have also helped Expectations Diverse to invest into research and development (R&D) and innovation.
High brand equity
– Expectations Diverse has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Expectations Diverse to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Operational resilience
– The operational resilience strategy in the Getting What We Wish For: The Realities Of Business Education For A Global Economy 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.
Strong track record of project management
– Expectations Diverse is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High switching costs
– The high switching costs that Expectations Diverse 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.
Organizational Resilience of Expectations Diverse
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Expectations Diverse does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Digital Transformation in Global Business segment
- digital transformation varies from industry to industry. For Expectations Diverse digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Expectations Diverse 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.
Successful track record of launching new products
– Expectations Diverse has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Expectations Diverse 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.
Weaknesses Getting What We Wish For: The Realities Of Business Education For A Global Economy | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Getting What We Wish For: The Realities Of Business Education For A Global Economy are -
High bargaining power of channel partners
– Because of the regulatory requirements, de Rijke Paul, Jonathan A. Plucker suggests that, Expectations Diverse 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 operating costs
– Compare to the competitors, firm in the HBR case study Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Expectations Diverse 's lucrative customers.
Increasing silos among functional specialists
– The organizational structure of Expectations Diverse is dominated by functional specialists. It is not different from other players in the Global Business segment. Expectations Diverse needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Expectations Diverse to focus more on services rather than just following the product oriented approach.
Aligning sales with marketing
– It come across in the case study Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy can leverage the sales team experience to cultivate customer relationships as Expectations Diverse is planning to shift buying processes online.
High cash cycle compare to competitors
Expectations Diverse 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Getting What We Wish For: The Realities Of Business Education For A Global Economy, it seems that the employees of Expectations Diverse 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.
Interest costs
– Compare to the competition, Expectations Diverse 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.
Need for greater diversity
– Expectations Diverse 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Expectations Diverse is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Getting What We Wish For: The Realities Of Business Education For A Global Economy can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Expectations Diverse 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.
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 Expectations Diverse supply chain. Even after few cautionary changes mentioned in the HBR case study - Getting What We Wish For: The Realities Of Business Education For A Global Economy, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Expectations Diverse vulnerable to further global disruptions in South East Asia.
Opportunities Getting What We Wish For: The Realities Of Business Education For A Global Economy | 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy are -
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Expectations Diverse to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Expectations Diverse to hire the very best people irrespective of their geographical location.
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. Expectations Diverse can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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 Expectations Diverse 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.
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 Expectations Diverse in the consumer business. Now Expectations Diverse can target international markets with far fewer capital restrictions requirements than the existing system.
Low interest rates
– Even though inflation is raising its head in most developed economies, Expectations Diverse 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Expectations Diverse 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, Getting What We Wish For: The Realities Of Business Education For A Global Economy, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Creating value in data economy
– The success of analytics program of Expectations Diverse has opened avenues for new revenue streams for the organization in the industry. This can help Expectations Diverse to build a more holistic ecosystem as suggested in the Getting What We Wish For: The Realities Of Business Education For A Global Economy case study. Expectations Diverse can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Loyalty marketing
– Expectations Diverse 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.
Buying journey improvements
– Expectations Diverse can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Getting What We Wish For: The Realities Of Business Education For A Global Economy 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Global Business industry, but it has also influenced the consumer preferences. Expectations Diverse can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Developing new processes and practices
– Expectations Diverse can develop new processes and procedures in Global Business 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.
Leveraging digital technologies
– Expectations Diverse 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.
Learning at scale
– Online learning technologies has now opened space for Expectations Diverse 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.
Threats Getting What We Wish For: The Realities Of Business Education For A Global Economy External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Getting What We Wish For: The Realities Of Business Education For A Global Economy are -
Easy access to finance
– Easy access to finance in Global Business field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Expectations Diverse can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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 Expectations Diverse business can come under increasing regulations regarding data privacy, data security, etc.
Shortening product life cycle
– it is one of the major threat that Expectations Diverse is facing in Global Business sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Expectations Diverse demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Increasing wage structure of Expectations Diverse
– 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 Expectations Diverse.
Environmental challenges
– Expectations Diverse 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. Expectations Diverse can take advantage of this fund but it will also bring new competitors in the Global Business 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 Expectations Diverse in the Global Business sector and impact the bottomline of the organization.
High dependence on third party suppliers
– Expectations Diverse 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.
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. Expectations Diverse 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Getting What We Wish For: The Realities Of Business Education For A Global Economy, Expectations Diverse may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Global Business .
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy .
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.
Weighted SWOT Analysis of Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy 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 Expectations Diverse needs to make to build a sustainable competitive advantage.
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