Case Study Description of An NHL/Ridefilm Attraction
The National Hockey League (NHL) was battling within a competitive market to increase the exposure of hockey throughout the United States. Many new franchises had been established and the challenge was to create a fan base to support both the franchises and the league as a whole. As a result, many new initiatives were being examined to educate and excite the American public. The director of new business development for National Hockey League Enterprises, the marketing arm of the NHL, had to evaluate a proposal to establish an IMAX/Ridefilm attraction at NHL SKATE rinks and determine if this approach would increase the exposure of hockey throughout the United States. To prepare his recommendations for the board of directors, he needed to qualitatively evaluate the prospects of the NHL/Ridefilm proposal and perform a quantitative analysis.
Swot Analysis of "An NHL/Ridefilm Attraction" written by Elizabeth M.A. Grasby, Shawn Flick includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Nhl Ridefilm facing as an external strategic factors. Some of the topics covered in An NHL/Ridefilm Attraction case study are - Strategic Management Strategies, Joint ventures and Global Business.
Some of the macro environment factors that can be used to understand the An NHL/Ridefilm Attraction casestudy better are - – there is increasing trade war between United States & China, wage bills are increasing, banking and financial system is disrupted by Bitcoin and other crypto currencies, central banks are concerned over increasing inflation, geopolitical disruptions, increasing household debt because of falling income levels, challanges to central banks by blockchain based private currencies,
supply chains are disrupted by pandemic , cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of An NHL/Ridefilm Attraction
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in An NHL/Ridefilm Attraction case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Nhl Ridefilm, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Nhl Ridefilm 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 An NHL/Ridefilm Attraction can be done for the following purposes –
1. Strategic planning using facts provided in An NHL/Ridefilm Attraction case study
2. Improving business portfolio management of Nhl Ridefilm
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 Nhl Ridefilm
Strengths An NHL/Ridefilm Attraction | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Nhl Ridefilm in An NHL/Ridefilm Attraction Harvard Business Review case study are -
Organizational Resilience of Nhl Ridefilm
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Nhl Ridefilm does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Innovation driven organization
– Nhl Ridefilm is one of the most innovative firm in sector. Manager in An NHL/Ridefilm Attraction Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Global Business industry
– An NHL/Ridefilm Attraction firm has clearly differentiated products in the market place. This has enabled Nhl Ridefilm to fetch slight price premium compare to the competitors in the Global Business industry. The sustainable margins have also helped Nhl Ridefilm to invest into research and development (R&D) and innovation.
Ability to recruit top talent
– Nhl Ridefilm is one of the leading recruiters in the industry. Managers in the An NHL/Ridefilm Attraction are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– Nhl Ridefilm has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Nhl Ridefilm 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.
Low bargaining power of suppliers
– Suppliers of Nhl Ridefilm in the sector have low bargaining power. An NHL/Ridefilm Attraction has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Nhl Ridefilm to manage not only supply disruptions but also source products at highly competitive prices.
Strong track record of project management
– Nhl Ridefilm is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Ability to lead change in Global Business field
– Nhl Ridefilm 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 Nhl Ridefilm in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Learning organization
- Nhl Ridefilm 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 Nhl Ridefilm is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in An NHL/Ridefilm Attraction Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Training and development
– Nhl Ridefilm has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in An NHL/Ridefilm Attraction 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.
Digital Transformation in Global Business segment
- digital transformation varies from industry to industry. For Nhl Ridefilm digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Nhl Ridefilm 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.
Operational resilience
– The operational resilience strategy in the An NHL/Ridefilm Attraction 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.
Weaknesses An NHL/Ridefilm Attraction | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of An NHL/Ridefilm Attraction 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 Nhl Ridefilm supply chain. Even after few cautionary changes mentioned in the HBR case study - An NHL/Ridefilm Attraction, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Nhl Ridefilm vulnerable to further global disruptions in South East Asia.
High operating costs
– Compare to the competitors, firm in the HBR case study An NHL/Ridefilm Attraction 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 Nhl Ridefilm 's lucrative customers.
Products dominated business model
– Even though Nhl Ridefilm 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 - An NHL/Ridefilm Attraction should strive to include more intangible value offerings along with its core products and services.
Lack of clear differentiation of Nhl Ridefilm products
– To increase the profitability and margins on the products, Nhl Ridefilm needs to provide more differentiated products than what it is currently offering in the marketplace.
Skills based hiring
– The stress on hiring functional specialists at Nhl Ridefilm 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Nhl Ridefilm 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.
Increasing silos among functional specialists
– The organizational structure of Nhl Ridefilm is dominated by functional specialists. It is not different from other players in the Global Business segment. Nhl Ridefilm needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Nhl Ridefilm to focus more on services rather than just following the product oriented approach.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study An NHL/Ridefilm Attraction, it seems that the employees of Nhl Ridefilm 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study An NHL/Ridefilm Attraction, in the dynamic environment Nhl Ridefilm has struggled to respond to the nimble upstart competition. Nhl Ridefilm has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Interest costs
– Compare to the competition, Nhl Ridefilm 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.
No frontier risks strategy
– After analyzing the HBR case study An NHL/Ridefilm Attraction, it seems that company is thinking about the frontier risks that can impact Global Business strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Opportunities An NHL/Ridefilm Attraction | 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 An NHL/Ridefilm Attraction are -
Lowering marketing communication costs
– 5G expansion will open new opportunities for Nhl Ridefilm in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Global Business segment, and it will provide faster access to the consumers.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Nhl Ridefilm can use these opportunities to build new business models that can help the communities that Nhl Ridefilm operates in. Secondly it can use opportunities from government spending in Global Business sector.
Loyalty marketing
– Nhl Ridefilm 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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Global Business industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Nhl Ridefilm 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. Nhl Ridefilm 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.
Better consumer reach
– The expansion of the 5G network will help Nhl Ridefilm to increase its market reach. Nhl Ridefilm 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.
Buying journey improvements
– Nhl Ridefilm can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. An NHL/Ridefilm Attraction 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.
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. Nhl Ridefilm 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 Nhl Ridefilm has opened avenues for new revenue streams for the organization in the industry. This can help Nhl Ridefilm to build a more holistic ecosystem as suggested in the An NHL/Ridefilm Attraction case study. Nhl Ridefilm can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Nhl Ridefilm 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 Nhl Ridefilm to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Nhl Ridefilm 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 An NHL/Ridefilm Attraction - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Nhl Ridefilm 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 Nhl Ridefilm 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Nhl Ridefilm 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Nhl Ridefilm is facing challenges because of the dominance of functional experts in the organization. An NHL/Ridefilm Attraction 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 An NHL/Ridefilm Attraction External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study An NHL/Ridefilm Attraction are -
Increasing wage structure of Nhl Ridefilm
– 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 Nhl Ridefilm.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study An NHL/Ridefilm Attraction, Nhl Ridefilm 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, Nhl Ridefilm 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 An NHL/Ridefilm Attraction .
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. Nhl Ridefilm 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.
Environmental challenges
– Nhl Ridefilm 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. Nhl Ridefilm 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 Nhl Ridefilm in the Global Business sector and impact the bottomline of the organization.
Shortening product life cycle
– it is one of the major threat that Nhl Ridefilm is facing in Global Business sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Regulatory challenges
– Nhl Ridefilm 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.
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 Nhl Ridefilm.
Stagnating economy with rate increase
– Nhl Ridefilm 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.
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. Nhl Ridefilm 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 Nhl Ridefilm business can come under increasing regulations regarding data privacy, data security, etc.
High dependence on third party suppliers
– Nhl Ridefilm 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.
Weighted SWOT Analysis of An NHL/Ridefilm Attraction 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 An NHL/Ridefilm Attraction 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 An NHL/Ridefilm Attraction 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 An NHL/Ridefilm Attraction 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 An NHL/Ridefilm Attraction 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 Nhl Ridefilm needs to make to build a sustainable competitive advantage.
