Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products
This brief background note provides an explanation and examples of biomimicry as an approach that provides insights into the innovative design of products and corporate strategy framing. Biomimicry uses nature's laws and successful strategies to inform commercial innovation.
Swot Analysis of "Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products" written by Andrea Larson, Mark Meier includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Biomimicry Nature's facing as an external strategic factors. Some of the topics covered in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products case study are - Strategic Management Strategies, Innovation, Sustainability and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products casestudy better are - – wage bills are increasing, geopolitical disruptions, supply chains are disrupted by pandemic , technology disruption, increasing household debt because of falling income levels, there is increasing trade war between United States & China, banking and financial system is disrupted by Bitcoin and other crypto currencies,
challanges to central banks by blockchain based private currencies, there is backlash against globalization, etc
Introduction to SWOT Analysis of Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Biomimicry Nature's, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Biomimicry Nature's 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products can be done for the following purposes –
1. Strategic planning using facts provided in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products case study
2. Improving business portfolio management of Biomimicry Nature's
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 Biomimicry Nature's
Strengths Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Biomimicry Nature's in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products Harvard Business Review case study are -
Strong track record of project management
– Biomimicry Nature's 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
– Biomimicry Nature's has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Biomimicry Nature's 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.
Operational resilience
– The operational resilience strategy in the Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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.
Training and development
– Biomimicry Nature's has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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.
Effective Research and Development (R&D)
– Biomimicry Nature's 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Organizational Resilience of Biomimicry Nature's
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Biomimicry Nature's does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
High brand equity
– Biomimicry Nature's has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Biomimicry Nature's to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Innovation & Entrepreneurship field
– Biomimicry Nature's 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 Biomimicry Nature's in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Low bargaining power of suppliers
– Suppliers of Biomimicry Nature's in the sector have low bargaining power. Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Biomimicry Nature's to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Biomimicry Nature's 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.
Innovation driven organization
– Biomimicry Nature's is one of the most innovative firm in sector. Manager in Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Ability to recruit top talent
– Biomimicry Nature's is one of the leading recruiters in the industry. Managers in the Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Weaknesses Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products are -
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Biomimicry Nature's is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Capital Spending Reduction
– Even during the low interest decade, Biomimicry Nature's 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 cash cycle compare to competitors
Biomimicry Nature's 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Biomimicry Nature's 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.
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 Biomimicry Nature's supply chain. Even after few cautionary changes mentioned in the HBR case study - Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Biomimicry Nature's vulnerable to further global disruptions in South East Asia.
Products dominated business model
– Even though Biomimicry Nature's 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 - Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products should strive to include more intangible value offerings along with its core products and services.
Skills based hiring
– The stress on hiring functional specialists at Biomimicry Nature's 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products, is just above the industry average. Biomimicry Nature's 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.
Interest costs
– Compare to the competition, Biomimicry Nature's 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products, it seems that the employees of Biomimicry Nature's 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry Nature's has relatively successful track record of launching new products.
Opportunities Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products | 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products are -
Learning at scale
– Online learning technologies has now opened space for Biomimicry Nature's 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 Biomimicry Nature's to increase its market reach. Biomimicry Nature's 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.
Developing new processes and practices
– Biomimicry Nature's 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.
Manufacturing automation
– Biomimicry Nature's 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.
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. Biomimicry Nature's can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Biomimicry Nature's 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, Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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. Biomimicry Nature's 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
– Biomimicry Nature's 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Biomimicry Nature's 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Biomimicry Nature's can use these opportunities to build new business models that can help the communities that Biomimicry Nature's operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
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. Biomimicry Nature's 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. Biomimicry Nature's 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Biomimicry Nature's is facing challenges because of the dominance of functional experts in the organization. Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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.
Creating value in data economy
– The success of analytics program of Biomimicry Nature's has opened avenues for new revenue streams for the organization in the industry. This can help Biomimicry Nature's to build a more holistic ecosystem as suggested in the Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products case study. Biomimicry Nature's can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Threats Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products are -
Technology acceleration in Forth Industrial Revolution
– Biomimicry Nature's has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Biomimicry Nature's 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.
Increasing wage structure of Biomimicry Nature's
– 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 Biomimicry Nature's.
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 Biomimicry Nature's in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Biomimicry Nature's 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products .
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.
Shortening product life cycle
– it is one of the major threat that Biomimicry Nature's is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Biomimicry Nature's.
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. Biomimicry Nature's 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products, Biomimicry Nature's 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 .
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Biomimicry Nature's 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.
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. Biomimicry Nature's can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Biomimicry Nature's business can come under increasing regulations regarding data privacy, data security, etc.
Weighted SWOT Analysis of Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry: Using Nature's Models as Sustainability Design Inspiration for Company Strategy and Products 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 Biomimicry Nature's needs to make to build a sustainable competitive advantage.
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