A Process Model of Academic Entrepreneurship SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of A Process Model of Academic Entrepreneurship
Innovations stemming from research conducted on university campuses are a growing source for the ideas and core technologies that drive entrepreneurial endeavors. This trend has led to development of the term academic entrepreneurship, which refers to the efforts and activities that universities and their industry partners undertake in hopes of commercializing the outcomes of faculty research. Because it is a relatively new phenomenon, the process of academic entrepreneurship has not been as well articulated as one might hope. As such, the objective of this article is to draw on a range of academic entrepreneurship literature to develop a multi-stage process model of academic entrepreneurship. This model is intended to guide potential stakeholders through the application of academic entrepreneurship, with a focus on improving the odds of success. The advantage of this approach is identification of the activities, actors, and key success factors associated with each stage of the academic entrepreneurship process. We conclude our discussion by highlighting the benefits of engaging in academic entrepreneurship for a variety of potential stakeholders.
Swot Analysis of "A Process Model of Academic Entrepreneurship" written by Matthew S. Wood includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Academic Entrepreneurship facing as an external strategic factors. Some of the topics covered in A Process Model of Academic Entrepreneurship case study are - Strategic Management Strategies, Marketing, Technology and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the A Process Model of Academic Entrepreneurship casestudy better are - – increasing government debt because of Covid-19 spendings, increasing energy prices, talent flight as more people leaving formal jobs, central banks are concerned over increasing inflation, banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing household debt because of falling income levels, challanges to central banks by blockchain based private currencies,
there is increasing trade war between United States & China, increasing commodity prices, etc
Introduction to SWOT Analysis of A Process Model of Academic Entrepreneurship
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in A Process Model of Academic Entrepreneurship case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Academic Entrepreneurship, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship can be done for the following purposes –
1. Strategic planning using facts provided in A Process Model of Academic Entrepreneurship case study
2. Improving business portfolio management of Academic Entrepreneurship
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 Academic Entrepreneurship
Strengths A Process Model of Academic Entrepreneurship | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Academic Entrepreneurship in A Process Model of Academic Entrepreneurship Harvard Business Review case study are -
Ability to lead change in Innovation & Entrepreneurship field
– Academic Entrepreneurship 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 Academic Entrepreneurship in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Diverse revenue streams
– Academic Entrepreneurship is present in almost all the verticals within the industry. This has provided firm in A Process Model of Academic Entrepreneurship 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.
Strong track record of project management
– Academic Entrepreneurship is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Analytics focus
– Academic Entrepreneurship 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 Matthew S. Wood 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.
Digital Transformation in Innovation & Entrepreneurship segment
- digital transformation varies from industry to industry. For Academic Entrepreneurship digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Academic Entrepreneurship 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.
Effective Research and Development (R&D)
– Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Training and development
– Academic Entrepreneurship has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in A Process Model of Academic Entrepreneurship 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 Academic Entrepreneurship in the sector have low bargaining power. A Process Model of Academic Entrepreneurship has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Academic Entrepreneurship to manage not only supply disruptions but also source products at highly competitive prices.
Highly skilled collaborators
– Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High switching costs
– The high switching costs that Academic Entrepreneurship 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
– Academic Entrepreneurship is one of the most innovative firm in sector. Manager in A Process Model of Academic Entrepreneurship Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Successful track record of launching new products
– Academic Entrepreneurship has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Academic Entrepreneurship 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.
Weaknesses A Process Model of Academic Entrepreneurship | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of A Process Model of Academic Entrepreneurship are -
Low market penetration in new markets
– Outside its home market of Academic Entrepreneurship, firm in the HBR case study A Process Model of Academic Entrepreneurship needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Increasing silos among functional specialists
– The organizational structure of Academic Entrepreneurship is dominated by functional specialists. It is not different from other players in the Innovation & Entrepreneurship segment. Academic Entrepreneurship needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Academic Entrepreneurship to focus more on services rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As A Process Model of Academic Entrepreneurship HBR case study mentions - Academic Entrepreneurship 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the A Process Model of Academic Entrepreneurship 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 Academic Entrepreneurship has relatively successful track record of launching new products.
Need for greater diversity
– Academic Entrepreneurship 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.
Products dominated business model
– Even though Academic Entrepreneurship 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 - A Process Model of Academic Entrepreneurship should strive to include more intangible value offerings along with its core products and services.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Academic Entrepreneurship is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study A Process Model of Academic Entrepreneurship can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High bargaining power of channel partners
– Because of the regulatory requirements, Matthew S. Wood suggests that, Academic Entrepreneurship 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 cash cycle compare to competitors
Academic Entrepreneurship 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.
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 Academic Entrepreneurship supply chain. Even after few cautionary changes mentioned in the HBR case study - A Process Model of Academic Entrepreneurship, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Academic Entrepreneurship vulnerable to further global disruptions in South East Asia.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study A Process Model of Academic Entrepreneurship, in the dynamic environment Academic Entrepreneurship has struggled to respond to the nimble upstart competition. Academic Entrepreneurship has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Opportunities A Process Model of Academic Entrepreneurship | 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 A Process Model of Academic Entrepreneurship are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Academic Entrepreneurship can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Buying journey improvements
– Academic Entrepreneurship can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. A Process Model of Academic Entrepreneurship 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.
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 Academic Entrepreneurship 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Academic Entrepreneurship can use these opportunities to build new business models that can help the communities that Academic Entrepreneurship operates in. Secondly it can use opportunities from government spending in Innovation & Entrepreneurship sector.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Academic Entrepreneurship 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
– Academic Entrepreneurship 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.
Better consumer reach
– The expansion of the 5G network will help Academic Entrepreneurship to increase its market reach. Academic Entrepreneurship 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.
Learning at scale
– Online learning technologies has now opened space for Academic Entrepreneurship 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.
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 Academic Entrepreneurship in the consumer business. Now Academic Entrepreneurship can target international markets with far fewer capital restrictions requirements than the existing system.
Developing new processes and practices
– Academic Entrepreneurship 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.
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. Academic Entrepreneurship can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Low interest rates
– Even though inflation is raising its head in most developed economies, Academic Entrepreneurship 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.
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. Academic Entrepreneurship 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. Academic Entrepreneurship 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.
Threats A Process Model of Academic Entrepreneurship External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study A Process Model of Academic Entrepreneurship are -
Environmental challenges
– Academic Entrepreneurship 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. Academic Entrepreneurship can take advantage of this fund but it will also bring new competitors in the Innovation & Entrepreneurship industry.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study A Process Model of Academic Entrepreneurship, Academic Entrepreneurship 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 Academic Entrepreneurship with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Academic Entrepreneurship 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 dependence on third party suppliers
– Academic Entrepreneurship 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.
Consumer confidence and its impact on Academic Entrepreneurship 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
– Academic Entrepreneurship 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship .
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. Academic Entrepreneurship can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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.
Regulatory challenges
– Academic Entrepreneurship 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.
Increasing wage structure of Academic Entrepreneurship
– 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 Academic Entrepreneurship.
Shortening product life cycle
– it is one of the major threat that Academic Entrepreneurship is facing in Innovation & Entrepreneurship sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of A Process Model of Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship 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 Academic Entrepreneurship needs to make to build a sustainable competitive advantage.