Case Study Description of Entrepreneurial Marketing: Learning from High-Potential Ventures
Describes entrepreneurial marketing as both a mind-set and a process. Draws on some 30 business field cases and some 300 student projects that provide insight into what managers do in high-potential settings.
Swot Analysis of "Entrepreneurial Marketing: Learning from High-Potential Ventures" written by Joseph B. Lassiter includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Entrepreneurial Draws facing as an external strategic factors. Some of the topics covered in Entrepreneurial Marketing: Learning from High-Potential Ventures case study are - Strategic Management Strategies, Entrepreneurial management, Marketing, Product development and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Entrepreneurial Marketing: Learning from High-Potential Ventures casestudy better are - – increasing household debt because of falling income levels, increasing government debt because of Covid-19 spendings, cloud computing is disrupting traditional business models, increasing commodity prices, wage bills are increasing, there is increasing trade war between United States & China, supply chains are disrupted by pandemic ,
competitive advantages are harder to sustain because of technology dispersion, geopolitical disruptions, etc
Introduction to SWOT Analysis of Entrepreneurial Marketing: Learning from High-Potential Ventures
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Entrepreneurial Marketing: Learning from High-Potential Ventures case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Entrepreneurial Draws, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Entrepreneurial Draws 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 Entrepreneurial Marketing: Learning from High-Potential Ventures can be done for the following purposes –
1. Strategic planning using facts provided in Entrepreneurial Marketing: Learning from High-Potential Ventures case study
2. Improving business portfolio management of Entrepreneurial Draws
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 Entrepreneurial Draws
Strengths Entrepreneurial Marketing: Learning from High-Potential Ventures | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Entrepreneurial Draws in Entrepreneurial Marketing: Learning from High-Potential Ventures Harvard Business Review case study are -
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Entrepreneurial Marketing: Learning from High-Potential Ventures firm has clearly differentiated products in the market place. This has enabled Entrepreneurial Draws to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Entrepreneurial Draws to invest into research and development (R&D) and innovation.
High brand equity
– Entrepreneurial Draws has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Entrepreneurial Draws to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Highly skilled collaborators
– Entrepreneurial Draws 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 Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Draws digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Entrepreneurial Draws 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 Entrepreneurial Draws in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
High switching costs
– The high switching costs that Entrepreneurial Draws 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.
Cross disciplinary teams
– Horizontal connected teams at the Entrepreneurial Draws 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.
Training and development
– Entrepreneurial Draws has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Entrepreneurial Marketing: Learning from High-Potential Ventures 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.
Low bargaining power of suppliers
– Suppliers of Entrepreneurial Draws in the sector have low bargaining power. Entrepreneurial Marketing: Learning from High-Potential Ventures has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Entrepreneurial Draws to manage not only supply disruptions but also source products at highly competitive prices.
Effective Research and Development (R&D)
– Entrepreneurial Draws 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 Entrepreneurial Marketing: Learning from High-Potential Ventures - 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
– Entrepreneurial Draws is one of the leading recruiters in the industry. Managers in the Entrepreneurial Marketing: Learning from High-Potential Ventures are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Learning organization
- Entrepreneurial Draws 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 Entrepreneurial Draws is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Entrepreneurial Marketing: Learning from High-Potential Ventures Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses Entrepreneurial Marketing: Learning from High-Potential Ventures | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Entrepreneurial Marketing: Learning from High-Potential Ventures are -
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Entrepreneurial Marketing: Learning from High-Potential Ventures, is just above the industry average. Entrepreneurial Draws 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.
Low market penetration in new markets
– Outside its home market of Entrepreneurial Draws, firm in the HBR case study Entrepreneurial Marketing: Learning from High-Potential Ventures needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
No frontier risks strategy
– After analyzing the HBR case study Entrepreneurial Marketing: Learning from High-Potential Ventures, 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.
Need for greater diversity
– Entrepreneurial Draws has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Entrepreneurial Draws is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Entrepreneurial Marketing: Learning from High-Potential Ventures can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Entrepreneurial Draws 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 star products
– The top 2 products and services of the firm as mentioned in the Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Draws has relatively successful track record of launching new products.
Increasing silos among functional specialists
– The organizational structure of Entrepreneurial Draws is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Entrepreneurial Draws needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Entrepreneurial Draws to focus more on services rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As Entrepreneurial Marketing: Learning from High-Potential Ventures HBR case study mentions - Entrepreneurial Draws takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Slow decision making process
– As mentioned earlier in the report, Entrepreneurial Draws 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. Entrepreneurial Draws 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.
Aligning sales with marketing
– It come across in the case study Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Marketing: Learning from High-Potential Ventures can leverage the sales team experience to cultivate customer relationships as Entrepreneurial Draws is planning to shift buying processes online.
Opportunities Entrepreneurial Marketing: Learning from High-Potential Ventures | 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 Entrepreneurial Marketing: Learning from High-Potential Ventures are -
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 Entrepreneurial Draws 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Entrepreneurial Draws 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.
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 Entrepreneurial Draws in the consumer business. Now Entrepreneurial Draws can target international markets with far fewer capital restrictions requirements than the existing system.
Better consumer reach
– The expansion of the 5G network will help Entrepreneurial Draws to increase its market reach. Entrepreneurial Draws 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. Entrepreneurial Draws can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Entrepreneurial Draws 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. Entrepreneurial Draws can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Using analytics as competitive advantage
– Entrepreneurial Draws 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 Entrepreneurial Marketing: Learning from High-Potential Ventures - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Entrepreneurial Draws to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Buying journey improvements
– Entrepreneurial Draws can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Entrepreneurial Marketing: Learning from High-Potential Ventures 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.
Loyalty marketing
– Entrepreneurial Draws 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.
Building a culture of innovation
– managers at Entrepreneurial Draws 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.
Developing new processes and practices
– Entrepreneurial Draws 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
– Entrepreneurial Draws 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.
Threats Entrepreneurial Marketing: Learning from High-Potential Ventures External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Entrepreneurial Marketing: Learning from High-Potential Ventures are -
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.
High dependence on third party suppliers
– Entrepreneurial Draws 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.
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 Entrepreneurial Draws in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Entrepreneurial Draws with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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. Entrepreneurial Draws needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Technology acceleration in Forth Industrial Revolution
– Entrepreneurial Draws has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Entrepreneurial Draws 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.
Consumer confidence and its impact on Entrepreneurial Draws 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Entrepreneurial Draws 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 Entrepreneurial Marketing: Learning from High-Potential Ventures .
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Entrepreneurial Draws 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.
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.
Stagnating economy with rate increase
– Entrepreneurial Draws 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.
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 Entrepreneurial Draws business can come under increasing regulations regarding data privacy, data security, etc.
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. Entrepreneurial Draws 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.
Weighted SWOT Analysis of Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Marketing: Learning from High-Potential Ventures 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 Entrepreneurial Draws needs to make to build a sustainable competitive advantage.
