Swot Analysis of "iCraveTV.com: A New-Media Upstart" written by Mary M. Crossan, Margaret Ann Wilkinson, Ken Mark, Tammy Smith includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Icravetv.com Upstart facing as an external strategic factors. Some of the topics covered in iCraveTV.com: A New-Media Upstart case study are - Strategic Management Strategies, and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the iCraveTV.com: A New-Media Upstart casestudy better are - – supply chains are disrupted by pandemic , increasing transportation and logistics costs, increasing household debt because of falling income levels, customer relationship management is fast transforming because of increasing concerns over data privacy, cloud computing is disrupting traditional business models, increasing inequality as vast percentage of new income is going to the top 1%, there is increasing trade war between United States & China,
banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, etc
Introduction to SWOT Analysis of iCraveTV.com: A New-Media Upstart
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in iCraveTV.com: A New-Media Upstart case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Icravetv.com Upstart, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Icravetv.com Upstart 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 iCraveTV.com: A New-Media Upstart can be done for the following purposes –
1. Strategic planning using facts provided in iCraveTV.com: A New-Media Upstart case study
2. Improving business portfolio management of Icravetv.com Upstart
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 Icravetv.com Upstart
Strengths iCraveTV.com: A New-Media Upstart | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Icravetv.com Upstart in iCraveTV.com: A New-Media Upstart Harvard Business Review case study are -
Training and development
– Icravetv.com Upstart has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in iCraveTV.com: A New-Media Upstart 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 Icravetv.com Upstart in the sector have low bargaining power. iCraveTV.com: A New-Media Upstart has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Icravetv.com Upstart to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Icravetv.com Upstart in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Organizational Resilience of Icravetv.com Upstart
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Icravetv.com Upstart does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Analytics focus
– Icravetv.com Upstart 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 Mary M. Crossan, Margaret Ann Wilkinson, Ken Mark, Tammy Smith 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.
Diverse revenue streams
– Icravetv.com Upstart is present in almost all the verticals within the industry. This has provided firm in iCraveTV.com: A New-Media Upstart 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.
Learning organization
- Icravetv.com Upstart 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 Icravetv.com Upstart is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in iCraveTV.com: A New-Media Upstart Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Successful track record of launching new products
– Icravetv.com Upstart has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Icravetv.com Upstart 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.
High brand equity
– Icravetv.com Upstart has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Icravetv.com Upstart to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
High switching costs
– The high switching costs that Icravetv.com Upstart 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.
Ability to recruit top talent
– Icravetv.com Upstart is one of the leading recruiters in the industry. Managers in the iCraveTV.com: A New-Media Upstart are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Icravetv.com Upstart digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Icravetv.com Upstart 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.
Weaknesses iCraveTV.com: A New-Media Upstart | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of iCraveTV.com: A New-Media Upstart are -
High operating costs
– Compare to the competitors, firm in the HBR case study iCraveTV.com: A New-Media Upstart 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 Icravetv.com Upstart 's lucrative customers.
Increasing silos among functional specialists
– The organizational structure of Icravetv.com Upstart is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Icravetv.com Upstart needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Icravetv.com Upstart to focus more on services rather than just following the product oriented approach.
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 Icravetv.com Upstart supply chain. Even after few cautionary changes mentioned in the HBR case study - iCraveTV.com: A New-Media Upstart, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Icravetv.com Upstart vulnerable to further global disruptions in South East Asia.
Capital Spending Reduction
– Even during the low interest decade, Icravetv.com Upstart 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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study iCraveTV.com: A New-Media Upstart, it seems that the employees of Icravetv.com Upstart 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.
Interest costs
– Compare to the competition, Icravetv.com Upstart 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Icravetv.com Upstart 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study iCraveTV.com: A New-Media Upstart, in the dynamic environment Icravetv.com Upstart has struggled to respond to the nimble upstart competition. Icravetv.com Upstart has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
No frontier risks strategy
– After analyzing the HBR case study iCraveTV.com: A New-Media Upstart, 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.
Products dominated business model
– Even though Icravetv.com Upstart 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 - iCraveTV.com: A New-Media Upstart should strive to include more intangible value offerings along with its core products and services.
Low market penetration in new markets
– Outside its home market of Icravetv.com Upstart, firm in the HBR case study iCraveTV.com: A New-Media Upstart needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities iCraveTV.com: A New-Media Upstart | 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 iCraveTV.com: A New-Media Upstart are -
Lowering marketing communication costs
– 5G expansion will open new opportunities for Icravetv.com Upstart 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.
Building a culture of innovation
– managers at Icravetv.com Upstart 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.
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 Icravetv.com Upstart 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.
Developing new processes and practices
– Icravetv.com Upstart 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.
Learning at scale
– Online learning technologies has now opened space for Icravetv.com Upstart 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.
Using analytics as competitive advantage
– Icravetv.com Upstart 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 iCraveTV.com: A New-Media Upstart - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Icravetv.com Upstart to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Icravetv.com Upstart is facing challenges because of the dominance of functional experts in the organization. iCraveTV.com: A New-Media Upstart 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.
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 Icravetv.com Upstart in the consumer business. Now Icravetv.com Upstart can target international markets with far fewer capital restrictions requirements than the existing system.
Manufacturing automation
– Icravetv.com Upstart can use the latest technology developments to improve its manufacturing and designing process in Innovation & Entrepreneurship segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Innovation & Entrepreneurship industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Icravetv.com Upstart 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. Icravetv.com Upstart 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Icravetv.com Upstart 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.
Better consumer reach
– The expansion of the 5G network will help Icravetv.com Upstart to increase its market reach. Icravetv.com Upstart 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.
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. Icravetv.com Upstart can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Threats iCraveTV.com: A New-Media Upstart External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study iCraveTV.com: A New-Media Upstart are -
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 Icravetv.com Upstart is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Icravetv.com Upstart with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Increasing wage structure of Icravetv.com Upstart
– 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 Icravetv.com Upstart.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Icravetv.com Upstart 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 iCraveTV.com: A New-Media Upstart .
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 Icravetv.com Upstart.
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.
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 Icravetv.com Upstart in the Innovation & Entrepreneurship sector and impact the bottomline of the organization.
Regulatory challenges
– Icravetv.com Upstart needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Innovation & Entrepreneurship industry regulations.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Icravetv.com Upstart 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.
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. Icravetv.com Upstart needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
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. Icravetv.com Upstart can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Icravetv.com Upstart 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.
Weighted SWOT Analysis of iCraveTV.com: A New-Media Upstart 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 iCraveTV.com: A New-Media Upstart 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 iCraveTV.com: A New-Media Upstart 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 iCraveTV.com: A New-Media Upstart 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 iCraveTV.com: A New-Media Upstart 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 Icravetv.com Upstart needs to make to build a sustainable competitive advantage.
