Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign
This technical note introduces the concepts and terms entrepreneurial innovators use in addressing sustainability. It explores the evolution of such terms as sustainable development, environmental justice, earth systems engineering, sustainable science, the Natural Step framework, industrial ecology, and bio-mimicry. It also explores how paradigms are created and replaced.
Swot Analysis of "Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign" written by Andrea Larson includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Mimicry Concepts facing as an external strategic factors. Some of the topics covered in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign case study are - Strategic Management Strategies, Entrepreneurship, Innovation, Sustainability and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, geopolitical disruptions, there is increasing trade war between United States & China, challanges to central banks by blockchain based private currencies, central banks are concerned over increasing inflation, competitive advantages are harder to sustain because of technology dispersion, increasing energy prices,
technology disruption, wage bills are increasing, etc
Introduction to SWOT Analysis of Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Mimicry Concepts, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Mimicry Concepts 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign can be done for the following purposes –
1. Strategic planning using facts provided in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign case study
2. Improving business portfolio management of Mimicry Concepts
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 Mimicry Concepts
Strengths Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Mimicry Concepts in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign Harvard Business Review case study are -
High switching costs
– The high switching costs that Mimicry Concepts has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Highly skilled collaborators
– Mimicry Concepts 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Mimicry Concepts digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Mimicry Concepts 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.
Learning organization
- Mimicry Concepts 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 Mimicry Concepts is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Superior customer experience
– The customer experience strategy of Mimicry Concepts in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Ability to lead change in Innovation & Entrepreneurship field
– Mimicry Concepts 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 Mimicry Concepts in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Mimicry Concepts 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 Andrea Larson 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.
Low bargaining power of suppliers
– Suppliers of Mimicry Concepts in the sector have low bargaining power. Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Mimicry Concepts to manage not only supply disruptions but also source products at highly competitive prices.
Effective Research and Development (R&D)
– Mimicry Concepts 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Ability to recruit top talent
– Mimicry Concepts is one of the leading recruiters in the industry. Managers in the Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign firm has clearly differentiated products in the market place. This has enabled Mimicry Concepts to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Mimicry Concepts to invest into research and development (R&D) and innovation.
Training and development
– Mimicry Concepts has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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.
Weaknesses Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign are -
Lack of clear differentiation of Mimicry Concepts products
– To increase the profitability and margins on the products, Mimicry Concepts needs to provide more differentiated products than what it is currently offering in the marketplace.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign, it seems that the employees of Mimicry Concepts 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.
Skills based hiring
– The stress on hiring functional specialists at Mimicry Concepts 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 cash cycle compare to competitors
Mimicry Concepts has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Low market penetration in new markets
– Outside its home market of Mimicry Concepts, firm in the HBR case study Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High operating costs
– Compare to the competitors, firm in the HBR case study Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Mimicry Concepts 's lucrative customers.
Slow decision making process
– As mentioned earlier in the report, Mimicry Concepts 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. Mimicry Concepts 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.
Increasing silos among functional specialists
– The organizational structure of Mimicry Concepts is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Mimicry Concepts needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Mimicry Concepts to focus more on services rather than just following the product oriented approach.
Capital Spending Reduction
– Even during the low interest decade, Mimicry Concepts 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.
Products dominated business model
– Even though Mimicry Concepts 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 - Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign should strive to include more intangible value offerings along with its core products and services.
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 Mimicry Concepts supply chain. Even after few cautionary changes mentioned in the HBR case study - Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Mimicry Concepts vulnerable to further global disruptions in South East Asia.
Opportunities Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign | 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign are -
Building a culture of innovation
– managers at Mimicry Concepts 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.
Learning at scale
– Online learning technologies has now opened space for Mimicry Concepts 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.
Better consumer reach
– The expansion of the 5G network will help Mimicry Concepts to increase its market reach. Mimicry Concepts 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.
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. Mimicry Concepts 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
– Mimicry Concepts 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.
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 Mimicry Concepts in the consumer business. Now Mimicry Concepts can target international markets with far fewer capital restrictions requirements than the existing system.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Mimicry Concepts to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Mimicry Concepts 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, Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Mimicry Concepts 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 Mimicry Concepts to hire the very best people irrespective of their geographical location.
Developing new processes and practices
– Mimicry Concepts 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.
Using analytics as competitive advantage
– Mimicry Concepts 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Mimicry Concepts to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Mimicry Concepts 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. Mimicry Concepts 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Mimicry Concepts can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign are -
Environmental challenges
– Mimicry Concepts 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. Mimicry Concepts can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Mimicry Concepts 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign .
Technology acceleration in Forth Industrial Revolution
– Mimicry Concepts has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Mimicry Concepts 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.
Shortening product life cycle
– it is one of the major threat that Mimicry Concepts is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Mimicry Concepts needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Mimicry Concepts with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
High dependence on third party suppliers
– Mimicry Concepts 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign, Mimicry Concepts 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 .
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.
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 Mimicry Concepts in the Innovation & Entrepreneurship sector and impact the bottomline 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. Mimicry Concepts can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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. Mimicry Concepts 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.
Stagnating economy with rate increase
– Mimicry Concepts 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.
Weighted SWOT Analysis of Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Sustainability and Innovation: Frameworks, Concepts, and Tools for Product and Strategy Redesign 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 Mimicry Concepts needs to make to build a sustainable competitive advantage.
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