For the Love of Good Food: The pLateTrace Project (B) SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of For the Love of Good Food: The pLateTrace Project (B)
This (B) case to For the Love of Good Food: The pLateTrace Project (A), product #909E06, allows students to synthesize their findings and assessments from the (A) case to recommend a viable, financially sustainable technology-based solution that generates long-term benefits for the multiple parties who would be involved. Given the current focus on local food and environmental responsibility, pLateTrace is a very relevant case that raises awareness for tremendous untapped opportunities to marry inproving existing supply chain models with environmental stewardship.
Authors :: Nicole R.D. Haggerty, Andrea Jang, Rebecca Liu
Swot Analysis of "For the Love of Good Food: The pLateTrace Project (B)" written by Nicole R.D. Haggerty, Andrea Jang, Rebecca Liu includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Platetrace Love facing as an external strategic factors. Some of the topics covered in For the Love of Good Food: The pLateTrace Project (B) case study are - Strategic Management Strategies, Technology and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the For the Love of Good Food: The pLateTrace Project (B) casestudy better are - – increasing commodity prices, there is increasing trade war between United States & China, challanges to central banks by blockchain based private currencies, supply chains are disrupted by pandemic , digital marketing is dominated by two big players Facebook and Google, central banks are concerned over increasing inflation, banking and financial system is disrupted by Bitcoin and other crypto currencies,
increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization, etc
Introduction to SWOT Analysis of For the Love of Good Food: The pLateTrace Project (B)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in For the Love of Good Food: The pLateTrace Project (B) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Platetrace Love, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Platetrace Love 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 For the Love of Good Food: The pLateTrace Project (B) can be done for the following purposes –
1. Strategic planning using facts provided in For the Love of Good Food: The pLateTrace Project (B) case study
2. Improving business portfolio management of Platetrace Love
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 Platetrace Love
Strengths For the Love of Good Food: The pLateTrace Project (B) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Platetrace Love in For the Love of Good Food: The pLateTrace Project (B) Harvard Business Review case study are -
Successful track record of launching new products
– Platetrace Love has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Platetrace Love 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.
Analytics focus
– Platetrace Love 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 Nicole R.D. Haggerty, Andrea Jang, Rebecca Liu 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.
Superior customer experience
– The customer experience strategy of Platetrace Love 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 Platetrace Love 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.
Diverse revenue streams
– Platetrace Love is present in almost all the verticals within the industry. This has provided firm in For the Love of Good Food: The pLateTrace Project (B) case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Ability to lead change in Innovation & Entrepreneurship field
– Platetrace Love 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 Platetrace Love in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Training and development
– Platetrace Love has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in For the Love of Good Food: The pLateTrace Project (B) 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 Platetrace Love 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.
Innovation driven organization
– Platetrace Love is one of the most innovative firm in sector. Manager in For the Love of Good Food: The pLateTrace Project (B) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– For the Love of Good Food: The pLateTrace Project (B) firm has clearly differentiated products in the market place. This has enabled Platetrace Love to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Platetrace Love to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Platetrace Love in the sector have low bargaining power. For the Love of Good Food: The pLateTrace Project (B) has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Platetrace Love to manage not only supply disruptions but also source products at highly competitive prices.
Ability to recruit top talent
– Platetrace Love is one of the leading recruiters in the industry. Managers in the For the Love of Good Food: The pLateTrace Project (B) 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 For the Love of Good Food: The pLateTrace Project (B) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of For the Love of Good Food: The pLateTrace Project (B) are -
High bargaining power of channel partners
– Because of the regulatory requirements, Nicole R.D. Haggerty, Andrea Jang, Rebecca Liu suggests that, Platetrace Love 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.
High operating costs
– Compare to the competitors, firm in the HBR case study For the Love of Good Food: The pLateTrace Project (B) 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 Platetrace Love 's lucrative customers.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the For the Love of Good Food: The pLateTrace Project (B) 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 Platetrace Love has relatively successful track record of launching new products.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study For the Love of Good Food: The pLateTrace Project (B), is just above the industry average. Platetrace Love 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.
Lack of clear differentiation of Platetrace Love products
– To increase the profitability and margins on the products, Platetrace Love needs to provide more differentiated products than what it is currently offering in the marketplace.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study For the Love of Good Food: The pLateTrace Project (B), in the dynamic environment Platetrace Love has struggled to respond to the nimble upstart competition. Platetrace Love has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Platetrace Love is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study For the Love of Good Food: The pLateTrace Project (B) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
No frontier risks strategy
– After analyzing the HBR case study For the Love of Good Food: The pLateTrace Project (B), 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.
High cash cycle compare to competitors
Platetrace Love 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.
Slow to strategic competitive environment developments
– As For the Love of Good Food: The pLateTrace Project (B) HBR case study mentions - Platetrace Love 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.
Products dominated business model
– Even though Platetrace Love 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 - For the Love of Good Food: The pLateTrace Project (B) should strive to include more intangible value offerings along with its core products and services.
Opportunities For the Love of Good Food: The pLateTrace Project (B) | 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 For the Love of Good Food: The pLateTrace Project (B) are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Platetrace Love 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, For the Love of Good Food: The pLateTrace Project (B), to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Low interest rates
– Even though inflation is raising its head in most developed economies, Platetrace Love 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, Platetrace Love can use these opportunities to build new business models that can help the communities that Platetrace Love operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
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. Platetrace Love can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Platetrace Love is facing challenges because of the dominance of functional experts in the organization. For the Love of Good Food: The pLateTrace Project (B) 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.
Developing new processes and practices
– Platetrace Love 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 Platetrace Love to increase its market reach. Platetrace Love 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.
Manufacturing automation
– Platetrace Love 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Platetrace Love in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Innovation & Entrepreneurship segment, and it will provide faster access to the consumers.
Leveraging digital technologies
– Platetrace Love 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Platetrace Love 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 Platetrace Love to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Platetrace Love 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 For the Love of Good Food: The pLateTrace Project (B) - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Platetrace Love to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Buying journey improvements
– Platetrace Love can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. For the Love of Good Food: The pLateTrace Project (B) 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.
Threats For the Love of Good Food: The pLateTrace Project (B) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study For the Love of Good Food: The pLateTrace Project (B) 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.
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. Platetrace Love can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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. Platetrace Love needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
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 Platetrace Love.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study For the Love of Good Food: The pLateTrace Project (B), Platetrace Love 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 acceleration in Forth Industrial Revolution
– Platetrace Love has witnessed rapid integration of technology during Covid-19 in the Innovation & Entrepreneurship industry. As one of the leading players in the industry, Platetrace Love 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.
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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Platetrace Love 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.
Environmental challenges
– Platetrace Love 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. Platetrace Love 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, Platetrace Love 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 For the Love of Good Food: The pLateTrace Project (B) .
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 Platetrace Love in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Consumer confidence and its impact on Platetrace Love 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.
Stagnating economy with rate increase
– Platetrace Love 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 For the Love of Good Food: The pLateTrace Project (B) 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 For the Love of Good Food: The pLateTrace Project (B) 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 For the Love of Good Food: The pLateTrace Project (B) 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 For the Love of Good Food: The pLateTrace Project (B) 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 For the Love of Good Food: The pLateTrace Project (B) 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 Platetrace Love needs to make to build a sustainable competitive advantage.