Inniskillin and the Globalization of Icewine SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Inniskillin and the Globalization of Icewine
Deals with the growth of the icewine industry and follows Vincor International as it creates an international market for its Inniskillin Icewine--a luxury alcoholic beverage consumed as a dessert wine. Gives the history of the alcoholic beverage industry in Canada and details trends in the current global wine industry. Follows Roger Provost (HBS MBA 1980), chief marketing officer for Canadian-based Vincor, as he develops Inniskillin's initial marketing strategy within Canada. Goes on to detail Inniskillin's challenges as it enters other markets, initially through the travel retail distribution channel. Deals with issues in brand management, product development, and international marketing. Explores the opportunities and challenges facing luxury niche products in the global economy.
Authors :: Geoffrey G. Jones, Jillian Hirasawa
Topics :: Innovation & Entrepreneurship
Tags :: Business history, Entrepreneurship, International business, Product development, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis
Swot Analysis of "Inniskillin and the Globalization of Icewine" written by Geoffrey G. Jones, Jillian Hirasawa includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Icewine Inniskillin facing as an external strategic factors. Some of the topics covered in Inniskillin and the Globalization of Icewine case study are - Strategic Management Strategies, Business history, Entrepreneurship, International business, Product development and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Inniskillin and the Globalization of Icewine casestudy better are - – supply chains are disrupted by pandemic , competitive advantages are harder to sustain because of technology dispersion, wage bills are increasing, challanges to central banks by blockchain based private currencies, increasing household debt because of falling income levels, geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy,
cloud computing is disrupting traditional business models, increasing inequality as vast percentage of new income is going to the top 1%, etc
Introduction to SWOT Analysis of Inniskillin and the Globalization of Icewine
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Inniskillin and the Globalization of Icewine case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Icewine Inniskillin, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Icewine Inniskillin 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 Inniskillin and the Globalization of Icewine can be done for the following purposes –
1. Strategic planning using facts provided in Inniskillin and the Globalization of Icewine case study
2. Improving business portfolio management of Icewine Inniskillin
3. Assessing feasibility of the new initiative in Innovation & Entrepreneurship field.
4. Making a Innovation & Entrepreneurship topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Icewine Inniskillin
Strengths Inniskillin and the Globalization of Icewine | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Icewine Inniskillin in Inniskillin and the Globalization of Icewine Harvard Business Review case study are -
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Icewine Inniskillin digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Icewine Inniskillin 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.
Ability to lead change in Innovation & Entrepreneurship field
– Icewine Inniskillin 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 Icewine Inniskillin in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Learning organization
- Icewine Inniskillin 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 Icewine Inniskillin is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Inniskillin and the Globalization of Icewine Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Strong track record of project management
– Icewine Inniskillin is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Inniskillin and the Globalization of Icewine firm has clearly differentiated products in the market place. This has enabled Icewine Inniskillin to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Icewine Inniskillin to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Icewine Inniskillin 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 Inniskillin and the Globalization of Icewine HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High brand equity
– Icewine Inniskillin has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Icewine Inniskillin to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to recruit top talent
– Icewine Inniskillin is one of the leading recruiters in the industry. Managers in the Inniskillin and the Globalization of Icewine are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Operational resilience
– The operational resilience strategy in the Inniskillin and the Globalization of Icewine 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.
Analytics focus
– Icewine Inniskillin 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 Geoffrey G. Jones, Jillian Hirasawa 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.
Successful track record of launching new products
– Icewine Inniskillin has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Icewine Inniskillin 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.
Organizational Resilience of Icewine Inniskillin
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Icewine Inniskillin does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses Inniskillin and the Globalization of Icewine | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Inniskillin and the Globalization of Icewine are -
Low market penetration in new markets
– Outside its home market of Icewine Inniskillin, firm in the HBR case study Inniskillin and the Globalization of Icewine needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Skills based hiring
– The stress on hiring functional specialists at Icewine Inniskillin 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 harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Icewine Inniskillin is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Inniskillin and the Globalization of Icewine can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Interest costs
– Compare to the competition, Icewine Inniskillin 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 star products
– The top 2 products and services of the firm as mentioned in the Inniskillin and the Globalization of Icewine HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Icewine Inniskillin has relatively successful track record of launching new products.
Products dominated business model
– Even though Icewine Inniskillin 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 - Inniskillin and the Globalization of Icewine should strive to include more intangible value offerings along with its core products and services.
Need for greater diversity
– Icewine Inniskillin 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.
Lack of clear differentiation of Icewine Inniskillin products
– To increase the profitability and margins on the products, Icewine Inniskillin needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow to strategic competitive environment developments
– As Inniskillin and the Globalization of Icewine HBR case study mentions - Icewine Inniskillin 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.
Capital Spending Reduction
– Even during the low interest decade, Icewine Inniskillin 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Icewine Inniskillin 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.
Opportunities Inniskillin and the Globalization of Icewine | 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 Inniskillin and the Globalization of Icewine are -
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Icewine Inniskillin can use these opportunities to build new business models that can help the communities that Icewine Inniskillin operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Icewine Inniskillin is facing challenges because of the dominance of functional experts in the organization. Inniskillin and the Globalization of Icewine 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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Innovation & Entrepreneurship industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Icewine Inniskillin 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. Icewine Inniskillin 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.
Learning at scale
– Online learning technologies has now opened space for Icewine Inniskillin 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.
Manufacturing automation
– Icewine Inniskillin can use the latest technology developments to improve its manufacturing and designing process in Innovation & Entrepreneurship segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Better consumer reach
– The expansion of the 5G network will help Icewine Inniskillin to increase its market reach. Icewine Inniskillin 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.
Building a culture of innovation
– managers at Icewine Inniskillin 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 Innovation & Entrepreneurship segment.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Innovation & Entrepreneurship industry, but it has also influenced the consumer preferences. Icewine Inniskillin can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Icewine Inniskillin 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 Icewine Inniskillin to hire the very best people irrespective of their geographical location.
Buying journey improvements
– Icewine Inniskillin can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Inniskillin and the Globalization of Icewine 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Icewine Inniskillin can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Developing new processes and practices
– Icewine Inniskillin can develop new processes and procedures in Innovation & Entrepreneurship 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 Icewine Inniskillin in the consumer business. Now Icewine Inniskillin can target international markets with far fewer capital restrictions requirements than the existing system.
Threats Inniskillin and the Globalization of Icewine External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Inniskillin and the Globalization of Icewine are -
Regulatory challenges
– Icewine Inniskillin 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 Innovation & Entrepreneurship industry regulations.
High dependence on third party suppliers
– Icewine Inniskillin 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Icewine Inniskillin in the Innovation & Entrepreneurship industry. The Innovation & Entrepreneurship 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.
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 Icewine Inniskillin business can come under increasing regulations regarding data privacy, data security, etc.
Consumer confidence and its impact on Icewine Inniskillin 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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Inniskillin and the Globalization of Icewine, Icewine Inniskillin may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Innovation & Entrepreneurship .
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 Icewine Inniskillin in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Increasing wage structure of Icewine Inniskillin
– 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 Icewine Inniskillin.
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.
Technology acceleration in Forth Industrial Revolution
– Icewine Inniskillin has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Icewine Inniskillin needs to keep up with the evolution of technology in the Innovation & Entrepreneurship 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.
Environmental challenges
– Icewine Inniskillin 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. Icewine Inniskillin can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
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 Icewine Inniskillin.
Weighted SWOT Analysis of Inniskillin and the Globalization of Icewine 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 Inniskillin and the Globalization of Icewine 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 Inniskillin and the Globalization of Icewine 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 Inniskillin and the Globalization of Icewine 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 Inniskillin and the Globalization of Icewine 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 Icewine Inniskillin needs to make to build a sustainable competitive advantage.
