Case Study Description of Tristan Walker: The Extroverted Introvert
Tristan Walker was a 32-year-old entrepreneur. A visionary thinker and GSB graduate, Walker had accomplished much in his short career, and had worked briefly at Twitter, Foursquare, and Andreessen Horowitz before founding his own company, Walker & Company Brands. Walker was also the chair and cofounder of Code 2040, a nonprofit that helped underrepresented minorities chart successful pathways in the technology sector. Tristan Walker grew up in Queens, NY, where a Boys' Club program led him to a scholarship at the Hotchkiss School, a Connecticut prep school. From there he attended SUNY-Stony Brook, planning to head into the financial world. A brief stint on Wall Street convinced him otherwise, so he applied to Stanford GSB. Walker spent his time at the GSB building a solid network of connections and mentors. During his first year at GSB, Walker found himself in the right place at the right time when he interned at Twitter, and embraced the company's role in changing global communication. His next move was to jump to Foursquare, a company with an app that let users share information about nearby businesses and attractions. Walker's perseverance was legendary-he announced he was coming to work there, showed up and signed up merchants, and ended up head of business development. Much of the case describes how Walker decided on the goals of his own enterprise and how he launched his vision. As an entrepreneur-in-residence at Andreessen Horowitz, Walker concentrated on coming up with a fresh idea. The realization that African Americans could avoid razor bumps by using different shaving products resonated with him, and he could see there was an opportunity to serve this underrepresented market. So he set out to make health and beauty products tailored for the comfort and benefit of people of color. Walker's extensive contacts and immense following on Twitter, and his range of experiences all helped prepare him for the launch of Walker & Company in 2013.
Swot Analysis of "Tristan Walker: The Extroverted Introvert" written by Jeffrey Pfeffer includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Walker Gsb facing as an external strategic factors. Some of the topics covered in Tristan Walker: The Extroverted Introvert case study are - Strategic Management Strategies, Entrepreneurship, Influence, Networking and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Tristan Walker: The Extroverted Introvert casestudy better are - – increasing inequality as vast percentage of new income is going to the top 1%, cloud computing is disrupting traditional business models, wage bills are increasing, increasing energy prices, increasing transportation and logistics costs, geopolitical disruptions, challanges to central banks by blockchain based private currencies,
increasing commodity prices, there is increasing trade war between United States & China, etc
Introduction to SWOT Analysis of Tristan Walker: The Extroverted Introvert
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Tristan Walker: The Extroverted Introvert case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Walker Gsb, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Walker Gsb 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 Tristan Walker: The Extroverted Introvert can be done for the following purposes –
1. Strategic planning using facts provided in Tristan Walker: The Extroverted Introvert case study
2. Improving business portfolio management of Walker Gsb
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 Walker Gsb
Strengths Tristan Walker: The Extroverted Introvert | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Walker Gsb in Tristan Walker: The Extroverted Introvert Harvard Business Review case study are -
Strong track record of project management
– Walker Gsb is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Successful track record of launching new products
– Walker Gsb has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Walker Gsb 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.
Ability to lead change in Innovation & Entrepreneurship field
– Walker Gsb 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 Walker Gsb in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Highly skilled collaborators
– Walker Gsb 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 Tristan Walker: The Extroverted Introvert HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Effective Research and Development (R&D)
– Walker Gsb 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 Tristan Walker: The Extroverted Introvert - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Innovation driven organization
– Walker Gsb is one of the most innovative firm in sector. Manager in Tristan Walker: The Extroverted Introvert Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Analytics focus
– Walker Gsb 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 Jeffrey Pfeffer 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.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Tristan Walker: The Extroverted Introvert firm has clearly differentiated products in the market place. This has enabled Walker Gsb to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Walker Gsb to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Walker Gsb in the sector have low bargaining power. Tristan Walker: The Extroverted Introvert has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Walker Gsb to manage not only supply disruptions but also source products at highly competitive prices.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Walker Gsb digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Walker Gsb 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.
Training and development
– Walker Gsb has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Tristan Walker: The Extroverted Introvert 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.
Cross disciplinary teams
– Horizontal connected teams at the Walker Gsb 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.
Weaknesses Tristan Walker: The Extroverted Introvert | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Tristan Walker: The Extroverted Introvert are -
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Tristan Walker: The Extroverted Introvert, is just above the industry average. Walker Gsb needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Skills based hiring
– The stress on hiring functional specialists at Walker Gsb 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Jeffrey Pfeffer suggests that, Walker Gsb is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Tristan Walker: The Extroverted Introvert, in the dynamic environment Walker Gsb has struggled to respond to the nimble upstart competition. Walker Gsb has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Products dominated business model
– Even though Walker Gsb 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 - Tristan Walker: The Extroverted Introvert should strive to include more intangible value offerings along with its core products and services.
Increasing silos among functional specialists
– The organizational structure of Walker Gsb is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Walker Gsb needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Walker Gsb to focus more on services rather than just following the product oriented approach.
Low market penetration in new markets
– Outside its home market of Walker Gsb, firm in the HBR case study Tristan Walker: The Extroverted Introvert needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Slow decision making process
– As mentioned earlier in the report, Walker Gsb 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. Walker Gsb 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Tristan Walker: The Extroverted Introvert, it seems that the employees of Walker Gsb 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.
Lack of clear differentiation of Walker Gsb products
– To increase the profitability and margins on the products, Walker Gsb needs to provide more differentiated products than what it is currently offering in the marketplace.
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 Walker Gsb supply chain. Even after few cautionary changes mentioned in the HBR case study - Tristan Walker: The Extroverted Introvert, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Walker Gsb vulnerable to further global disruptions in South East Asia.
Opportunities Tristan Walker: The Extroverted Introvert | 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 Tristan Walker: The Extroverted Introvert are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Walker Gsb 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, Tristan Walker: The Extroverted Introvert, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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 Walker Gsb in the consumer business. Now Walker Gsb can target international markets with far fewer capital restrictions requirements than the existing system.
Developing new processes and practices
– Walker Gsb 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.
Better consumer reach
– The expansion of the 5G network will help Walker Gsb to increase its market reach. Walker Gsb 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.
Creating value in data economy
– The success of analytics program of Walker Gsb has opened avenues for new revenue streams for the organization in the industry. This can help Walker Gsb to build a more holistic ecosystem as suggested in the Tristan Walker: The Extroverted Introvert case study. Walker Gsb can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Walker Gsb 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 Tristan Walker: The Extroverted Introvert - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Walker Gsb to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Manufacturing automation
– Walker Gsb 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.
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. Walker Gsb 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. Walker Gsb 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.
Loyalty marketing
– Walker Gsb 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.
Leveraging digital technologies
– Walker Gsb can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Learning at scale
– Online learning technologies has now opened space for Walker Gsb 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Walker Gsb can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Building a culture of innovation
– managers at Walker Gsb 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.
Threats Tristan Walker: The Extroverted Introvert External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Tristan Walker: The Extroverted Introvert are -
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. Walker Gsb 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.
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. Walker Gsb needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Consumer confidence and its impact on Walker Gsb 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.
Regulatory challenges
– Walker Gsb 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Walker Gsb 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.
Increasing wage structure of Walker Gsb
– 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 Walker Gsb.
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 Walker Gsb.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Walker Gsb 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 Tristan Walker: The Extroverted Introvert .
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 Walker Gsb in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Shortening product life cycle
– it is one of the major threat that Walker Gsb is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Environmental challenges
– Walker Gsb 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. Walker Gsb can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Walker Gsb with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Weighted SWOT Analysis of Tristan Walker: The Extroverted Introvert 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 Tristan Walker: The Extroverted Introvert 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 Tristan Walker: The Extroverted Introvert 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 Tristan Walker: The Extroverted Introvert 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 Tristan Walker: The Extroverted Introvert 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 Walker Gsb needs to make to build a sustainable competitive advantage.
