Case Study Description of Finemaster Projects Ltd. (A)
The assistant site supervisor at Finemaster Projects Ltd. struggles with how to approach his boss for a raise. When hired, he had been told that regular annual reviews were held with employees and that good performance would be rewarded with corresponding pay increases. After one year with the company, the assistant site supervisor found that the owners rarely act on this policy, leaving it up to staff to approach management about raises, promotions and other performance-related issues. In his second year with the company, the assistant site supervisor experienced further disappointment with how his boss dealt with his compensation request and his faith in the company's pledge to reward employees for good performance was quickly fading. The (A) case covers the assistant site supervisor's first meeting with his employer when offered a position with company. The supplements, Finemaster Projects Ltd. (B) and (C) describe his meetings with his boss after 12 months and two years, respectively.
Authors :: Elizabeth M.A. Grasby, Julie Harvey Gosse
Swot Analysis of "Finemaster Projects Ltd. (A)" written by Elizabeth M.A. Grasby, Julie Harvey Gosse includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Finemaster Assistant facing as an external strategic factors. Some of the topics covered in Finemaster Projects Ltd. (A) case study are - Strategic Management Strategies, Motivating people, Workspaces and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Finemaster Projects Ltd. (A) casestudy better are - – talent flight as more people leaving formal jobs, there is backlash against globalization, central banks are concerned over increasing inflation, wage bills are increasing, supply chains are disrupted by pandemic , challanges to central banks by blockchain based private currencies, increasing household debt because of falling income levels,
competitive advantages are harder to sustain because of technology dispersion, increasing commodity prices, etc
Introduction to SWOT Analysis of Finemaster Projects Ltd. (A)
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Finemaster Projects Ltd. (A) case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Finemaster Assistant, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Finemaster Assistant 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 Finemaster Projects Ltd. (A) can be done for the following purposes –
1. Strategic planning using facts provided in Finemaster Projects Ltd. (A) case study
2. Improving business portfolio management of Finemaster Assistant
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Finemaster Assistant
Strengths Finemaster Projects Ltd. (A) | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Finemaster Assistant in Finemaster Projects Ltd. (A) Harvard Business Review case study are -
Training and development
– Finemaster Assistant has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Finemaster Projects Ltd. (A) 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.
Effective Research and Development (R&D)
– Finemaster Assistant 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 Finemaster Projects Ltd. (A) - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Organizational Resilience of Finemaster Assistant
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Finemaster Assistant does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Ability to lead change in Leadership & Managing People field
– Finemaster Assistant 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 Finemaster Assistant in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Superior customer experience
– The customer experience strategy of Finemaster Assistant in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Analytics focus
– Finemaster Assistant 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 Elizabeth M.A. Grasby, Julie Harvey Gosse 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.
Sustainable margins compare to other players in Leadership & Managing People industry
– Finemaster Projects Ltd. (A) firm has clearly differentiated products in the market place. This has enabled Finemaster Assistant to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Finemaster Assistant to invest into research and development (R&D) and innovation.
Innovation driven organization
– Finemaster Assistant is one of the most innovative firm in sector. Manager in Finemaster Projects Ltd. (A) Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Strong track record of project management
– Finemaster Assistant is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Learning organization
- Finemaster Assistant 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 Finemaster Assistant is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Finemaster Projects Ltd. (A) Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Finemaster Assistant digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Finemaster Assistant 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.
Cross disciplinary teams
– Horizontal connected teams at the Finemaster Assistant 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.
Weaknesses Finemaster Projects Ltd. (A) | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Finemaster Projects Ltd. (A) are -
Capital Spending Reduction
– Even during the low interest decade, Finemaster Assistant 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.
Skills based hiring
– The stress on hiring functional specialists at Finemaster Assistant has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Aligning sales with marketing
– It come across in the case study Finemaster Projects Ltd. (A) 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 Finemaster Projects Ltd. (A) can leverage the sales team experience to cultivate customer relationships as Finemaster Assistant is planning to shift buying processes online.
High operating costs
– Compare to the competitors, firm in the HBR case study Finemaster Projects Ltd. (A) 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 Finemaster Assistant 's lucrative customers.
Increasing silos among functional specialists
– The organizational structure of Finemaster Assistant is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Finemaster Assistant needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Finemaster Assistant to focus more on services rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As Finemaster Projects Ltd. (A) HBR case study mentions - Finemaster Assistant takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Finemaster Assistant is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Finemaster Projects Ltd. (A) can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Slow decision making process
– As mentioned earlier in the report, Finemaster Assistant 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. Finemaster Assistant 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.
Lack of clear differentiation of Finemaster Assistant products
– To increase the profitability and margins on the products, Finemaster Assistant needs to provide more differentiated products than what it is currently offering in the marketplace.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Finemaster Projects Ltd. (A), it seems that the employees of Finemaster Assistant 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Finemaster Projects Ltd. (A), in the dynamic environment Finemaster Assistant has struggled to respond to the nimble upstart competition. Finemaster Assistant has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Opportunities Finemaster Projects Ltd. (A) | 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 Finemaster Projects Ltd. (A) are -
Better consumer reach
– The expansion of the 5G network will help Finemaster Assistant to increase its market reach. Finemaster Assistant 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Finemaster Assistant in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.
Creating value in data economy
– The success of analytics program of Finemaster Assistant has opened avenues for new revenue streams for the organization in the industry. This can help Finemaster Assistant to build a more holistic ecosystem as suggested in the Finemaster Projects Ltd. (A) case study. Finemaster Assistant can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Loyalty marketing
– Finemaster Assistant 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Finemaster Assistant 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, Finemaster Assistant can use these opportunities to build new business models that can help the communities that Finemaster Assistant operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Manufacturing automation
– Finemaster Assistant can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People 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.
Developing new processes and practices
– Finemaster Assistant can develop new processes and procedures in Leadership & Managing People 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 Finemaster Assistant 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Finemaster Assistant can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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. Finemaster Assistant can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Buying journey improvements
– Finemaster Assistant can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Finemaster Projects Ltd. (A) 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.
Leveraging digital technologies
– Finemaster Assistant 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.
Threats Finemaster Projects Ltd. (A) External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Finemaster Projects Ltd. (A) are -
Consumer confidence and its impact on Finemaster Assistant 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.
Environmental challenges
– Finemaster Assistant 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. Finemaster Assistant can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Shortening product life cycle
– it is one of the major threat that Finemaster Assistant is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Technology acceleration in Forth Industrial Revolution
– Finemaster Assistant has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Finemaster Assistant needs to keep up with the evolution of technology in the Leadership & Managing People 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.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Finemaster Assistant will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
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 Finemaster Assistant in the Leadership & Managing People sector and impact the bottomline of the organization.
Easy access to finance
– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Finemaster Assistant can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Finemaster Assistant business can come under increasing regulations regarding data privacy, data security, etc.
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. Finemaster Assistant needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Finemaster Assistant 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 Finemaster Projects Ltd. (A) .
Increasing wage structure of Finemaster Assistant
– 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 Finemaster Assistant.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Finemaster Assistant with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
Weighted SWOT Analysis of Finemaster Projects Ltd. (A) 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 Finemaster Projects Ltd. (A) 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 Finemaster Projects Ltd. (A) 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 Finemaster Projects Ltd. (A) 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 Finemaster Projects Ltd. (A) 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 Finemaster Assistant needs to make to build a sustainable competitive advantage.
