Case Study Description of Verge Software (B): XMarkstheSpot
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Swot Analysis of "Verge Software (B): XMarkstheSpot" written by Dorothy Leonard includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Xmarksthespot Color.an facing as an external strategic factors. Some of the topics covered in Verge Software (B): XMarkstheSpot case study are - Strategic Management Strategies, Entrepreneurial management, Product development, Strategy, Technology and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Verge Software (B): XMarkstheSpot casestudy better are - – technology disruption, increasing transportation and logistics costs, banking and financial system is disrupted by Bitcoin and other crypto currencies, geopolitical disruptions, challanges to central banks by blockchain based private currencies, increasing government debt because of Covid-19 spendings, central banks are concerned over increasing inflation,
digital marketing is dominated by two big players Facebook and Google, cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of Verge Software (B): XMarkstheSpot
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Verge Software (B): XMarkstheSpot case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Xmarksthespot Color.an, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Xmarksthespot Color.an 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 Verge Software (B): XMarkstheSpot can be done for the following purposes –
1. Strategic planning using facts provided in Verge Software (B): XMarkstheSpot case study
2. Improving business portfolio management of Xmarksthespot Color.an
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 Xmarksthespot Color.an
Strengths Verge Software (B): XMarkstheSpot | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Xmarksthespot Color.an in Verge Software (B): XMarkstheSpot Harvard Business Review case study are -
Low bargaining power of suppliers
– Suppliers of Xmarksthespot Color.an in the sector have low bargaining power. Verge Software (B): XMarkstheSpot has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Xmarksthespot Color.an to manage not only supply disruptions but also source products at highly competitive prices.
Organizational Resilience of Xmarksthespot Color.an
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Xmarksthespot Color.an does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Analytics focus
– Xmarksthespot Color.an 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 Dorothy Leonard 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.
Effective Research and Development (R&D)
– Xmarksthespot Color.an 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 Verge Software (B): XMarkstheSpot - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Training and development
– Xmarksthespot Color.an has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Verge Software (B): XMarkstheSpot 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 Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Xmarksthespot Color.an digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Xmarksthespot Color.an has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Superior customer experience
– The customer experience strategy of Xmarksthespot Color.an in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Successful track record of launching new products
– Xmarksthespot Color.an has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Xmarksthespot Color.an has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Learning organization
- Xmarksthespot Color.an 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 Xmarksthespot Color.an is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Verge Software (B): XMarkstheSpot Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Verge Software (B): XMarkstheSpot firm has clearly differentiated products in the market place. This has enabled Xmarksthespot Color.an to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Xmarksthespot Color.an to invest into research and development (R&D) and innovation.
Innovation driven organization
– Xmarksthespot Color.an is one of the most innovative firm in sector. Manager in Verge Software (B): XMarkstheSpot Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Strong track record of project management
– Xmarksthespot Color.an is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses Verge Software (B): XMarkstheSpot | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Verge Software (B): XMarkstheSpot are -
Increasing silos among functional specialists
– The organizational structure of Xmarksthespot Color.an is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Xmarksthespot Color.an needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Xmarksthespot Color.an to focus more on services rather than just following the product oriented approach.
Capital Spending Reduction
– Even during the low interest decade, Xmarksthespot Color.an 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.
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 Xmarksthespot Color.an supply chain. Even after few cautionary changes mentioned in the HBR case study - Verge Software (B): XMarkstheSpot, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Xmarksthespot Color.an vulnerable to further global disruptions in South East Asia.
High operating costs
– Compare to the competitors, firm in the HBR case study Verge Software (B): XMarkstheSpot 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 Xmarksthespot Color.an 's lucrative customers.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Verge Software (B): XMarkstheSpot 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 Xmarksthespot Color.an has relatively successful track record of launching new products.
Slow decision making process
– As mentioned earlier in the report, Xmarksthespot Color.an 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. Xmarksthespot Color.an 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.
Products dominated business model
– Even though Xmarksthespot Color.an 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 - Verge Software (B): XMarkstheSpot should strive to include more intangible value offerings along with its core products and services.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Verge Software (B): XMarkstheSpot, it seems that the employees of Xmarksthespot Color.an 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.
Aligning sales with marketing
– It come across in the case study Verge Software (B): XMarkstheSpot 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 Verge Software (B): XMarkstheSpot can leverage the sales team experience to cultivate customer relationships as Xmarksthespot Color.an is planning to shift buying processes online.
No frontier risks strategy
– After analyzing the HBR case study Verge Software (B): XMarkstheSpot, it seems that company is thinking about the frontier risks that can impact Innovation & Entrepreneurship 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Verge Software (B): XMarkstheSpot, in the dynamic environment Xmarksthespot Color.an has struggled to respond to the nimble upstart competition. Xmarksthespot Color.an has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Opportunities Verge Software (B): XMarkstheSpot | 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 Verge Software (B): XMarkstheSpot are -
Buying journey improvements
– Xmarksthespot Color.an can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Verge Software (B): XMarkstheSpot 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.
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 Xmarksthespot Color.an in the consumer business. Now Xmarksthespot Color.an can target international markets with far fewer capital restrictions requirements than the existing system.
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. Xmarksthespot Color.an can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Leveraging digital technologies
– Xmarksthespot Color.an 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Xmarksthespot Color.an is facing challenges because of the dominance of functional experts in the organization. Verge Software (B): XMarkstheSpot 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.
Manufacturing automation
– Xmarksthespot Color.an 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.
Developing new processes and practices
– Xmarksthespot Color.an 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Xmarksthespot Color.an can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
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. Xmarksthespot Color.an 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 Xmarksthespot Color.an 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 Xmarksthespot Color.an to hire the very best people irrespective of their geographical location.
Better consumer reach
– The expansion of the 5G network will help Xmarksthespot Color.an to increase its market reach. Xmarksthespot Color.an 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.
Learning at scale
– Online learning technologies has now opened space for Xmarksthespot Color.an 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.
Using analytics as competitive advantage
– Xmarksthespot Color.an 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 Verge Software (B): XMarkstheSpot - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Xmarksthespot Color.an to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Threats Verge Software (B): XMarkstheSpot External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Verge Software (B): XMarkstheSpot are -
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.
Easy access to finance
– Easy access to finance in Innovation & Entrepreneurship field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Xmarksthespot Color.an can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
High dependence on third party suppliers
– Xmarksthespot Color.an 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.
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. Xmarksthespot Color.an needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Increasing wage structure of Xmarksthespot Color.an
– 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 Xmarksthespot Color.an.
Technology acceleration in Forth Industrial Revolution
– Xmarksthespot Color.an has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Xmarksthespot Color.an 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.
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. Xmarksthespot Color.an 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.
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 Xmarksthespot Color.an.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Xmarksthespot Color.an with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
Shortening product life cycle
– it is one of the major threat that Xmarksthespot Color.an is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Stagnating economy with rate increase
– Xmarksthespot Color.an 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Xmarksthespot Color.an 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 Verge Software (B): XMarkstheSpot .
Weighted SWOT Analysis of Verge Software (B): XMarkstheSpot 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 Verge Software (B): XMarkstheSpot 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 Verge Software (B): XMarkstheSpot 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 Verge Software (B): XMarkstheSpot 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 Verge Software (B): XMarkstheSpot 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 Xmarksthespot Color.an needs to make to build a sustainable competitive advantage.
