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 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 - – central banks are concerned over increasing inflation, there is backlash against globalization, supply chains are disrupted by pandemic , customer relationship management is fast transforming because of increasing concerns over data privacy, banking and financial system is disrupted by Bitcoin and other crypto currencies, challanges to central banks by blockchain based private currencies, competitive advantages are harder to sustain because of technology dispersion,
talent flight as more people leaving formal jobs, 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 -
Cross disciplinary teams
– Horizontal connected teams at the Expectations Diverse are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Effective Research and Development (R&D)
– Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
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.
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.
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.
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.
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.
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.
Superior customer experience
– The customer experience strategy of Expectations Diverse in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
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.
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.
Highly skilled collaborators
– Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
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 -
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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Getting What We Wish For: The Realities Of Business Education For A Global Economy, in the dynamic environment Expectations Diverse has struggled to respond to the nimble upstart competition. Expectations Diverse has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
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.
Skills based hiring
– The stress on hiring functional specialists at Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy HBR case study mentions - Expectations Diverse 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.
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.
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.
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.
Low market penetration in new markets
– Outside its home market of Expectations Diverse, firm in the HBR case study Getting What We Wish For: The Realities Of Business Education For A Global Economy needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
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.
Slow decision making process
– As mentioned earlier in the report, Expectations Diverse 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. Expectations Diverse 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.
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 -
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.
Using analytics as competitive advantage
– Expectations Diverse 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 Getting What We Wish For: The Realities Of Business Education For A Global Economy - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Expectations Diverse to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Building a culture of innovation
– managers at Expectations Diverse 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 Global Business segment.
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.
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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Expectations Diverse can use these opportunities to build new business models that can help the communities that Expectations Diverse operates in. Secondly it can use opportunities from government spending in Global Business sector.
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.
Better consumer reach
– The expansion of the 5G network will help Expectations Diverse to increase its market reach. Expectations Diverse 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
– 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.
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.
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.
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 -
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 Expectations Diverse.
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 .
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.
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 .
Regulatory challenges
– Expectations Diverse 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 Global Business industry regulations.
Stagnating economy with rate increase
– Expectations Diverse can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Expectations Diverse in the Global Business industry. The Global Business 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.
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.
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. Expectations Diverse needs to understand the core reasons impacting the Global Business industry. This will help it in building a better workplace.
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.
Technology acceleration in Forth Industrial Revolution
– Expectations Diverse has witnessed rapid integration of technology during Covid-19 in the Global Business industry. As one of the leading players in the industry, Expectations Diverse needs to keep up with the evolution of technology in the Global Business 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.
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.
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.
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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