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 - – challanges to central banks by blockchain based private currencies, 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%, increasing commodity prices, supply chains are disrupted by pandemic , competitive advantages are harder to sustain because of technology dispersion, digital marketing is dominated by two big players Facebook and Google,
geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy, 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 -
Organizational Resilience of Academic Entrepreneurship
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Academic Entrepreneurship does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
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.
Cross disciplinary teams
– Horizontal connected teams at the Academic Entrepreneurship 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.
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.
High brand equity
– Academic Entrepreneurship has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Academic Entrepreneurship to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
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.
Ability to recruit top talent
– Academic Entrepreneurship is one of the leading recruiters in the industry. Managers in the A Process Model of Academic Entrepreneurship are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
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.
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.
Superior customer experience
– The customer experience strategy of Academic Entrepreneurship in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
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.
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 -
Aligning sales with marketing
– It come across in the case study A Process Model of Academic Entrepreneurship 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 A Process Model of Academic Entrepreneurship can leverage the sales team experience to cultivate customer relationships as Academic Entrepreneurship is planning to shift buying processes online.
Workers concerns about automation
– As automation is fast increasing in the segment, Academic Entrepreneurship 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.
Lack of clear differentiation of Academic Entrepreneurship products
– To increase the profitability and margins on the products, Academic Entrepreneurship needs to provide more differentiated products than what it is currently offering in the marketplace.
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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study A Process Model of Academic Entrepreneurship, it seems that the employees of Academic Entrepreneurship 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.
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.
No frontier risks strategy
– After analyzing the HBR case study A Process Model of Academic Entrepreneurship, 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 operating costs
– Compare to the competitors, firm in the HBR case study A Process Model of Academic Entrepreneurship 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 Academic Entrepreneurship 's lucrative customers.
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.
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 decision making process
– As mentioned earlier in the report, Academic Entrepreneurship 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. Academic Entrepreneurship 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.
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 -
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.
Building a culture of innovation
– managers at Academic Entrepreneurship 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Academic Entrepreneurship is facing challenges because of the dominance of functional experts in the organization. A Process Model of Academic Entrepreneurship 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.
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.
Creating value in data economy
– The success of analytics program of Academic Entrepreneurship has opened avenues for new revenue streams for the organization in the industry. This can help Academic Entrepreneurship to build a more holistic ecosystem as suggested in the A Process Model of Academic Entrepreneurship case study. Academic Entrepreneurship can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
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. Academic Entrepreneurship can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Manufacturing automation
– Academic Entrepreneurship 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Academic Entrepreneurship 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 Academic Entrepreneurship to hire the very best people irrespective of their geographical location.
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.
Loyalty marketing
– Academic Entrepreneurship 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.
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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Academic Entrepreneurship 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, A Process Model of Academic Entrepreneurship, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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.
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 -
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.
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.
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.
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.
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.
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.
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. Academic Entrepreneurship needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
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.
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 Academic Entrepreneurship.
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 .
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.
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 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 .
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.
