Case Study Description of Project Vishwamitra at T.P. Engineering Corporation
The case describes the introduction of a human resources (HR) system named "Project Vishwamitra" (PV) in 2000 in a large, technocratic public sector organization, TP Engineering Corporation (TPEC). PV was introduced with considerable leadership support and visibility. It was intended to provide every engineer trainee at TPEC a friend and guide to ease their entry and socialization into the organization. The senior managers assigned to guide the trainees were called "mentors." For the first four to five years, the project ran smoothly. The trainees distinctly felt supported whenever they needed some help. At the same time, the mentors were happy to guide trainees. After four to five years, certain important changes took place in the organization in staffing of leadership positions. With expansion and new projects, the growth trajectory of TPEC also showed a sharp increase. With earlier people moving out and a significant rise in the number of trainees being recruited, PV ran into difficult waters. Yet, no changes were made in the system or processes. PV started to get ritualized - meetings between trainees and mentors became more infrequent and in certain areas, there was total absence of any contact between the two. In the midst of degeneration, one of the leaders was able to revive the project in Unit Chelpur. With highly ambitious growth plans, the number of trainees was expected to increase from 450 in 2010 to 750 in 2011. The company faced a choice regarding the form in which PV should continue.
Swot Analysis of "Project Vishwamitra at T.P. Engineering Corporation" written by S. Ramnarayan, Rekha K.N., Neha Gupta includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Trainees Pv facing as an external strategic factors. Some of the topics covered in Project Vishwamitra at T.P. Engineering Corporation case study are - Strategic Management Strategies, Entrepreneurship, International business, Leadership, Organizational culture and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Project Vishwamitra at T.P. Engineering Corporation casestudy better are - – cloud computing is disrupting traditional business models, supply chains are disrupted by pandemic , central banks are concerned over increasing inflation, increasing inequality as vast percentage of new income is going to the top 1%, talent flight as more people leaving formal jobs, wage bills are increasing, increasing transportation and logistics costs,
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 Project Vishwamitra at T.P. Engineering Corporation
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Project Vishwamitra at T.P. Engineering Corporation case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Trainees Pv, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation can be done for the following purposes –
1. Strategic planning using facts provided in Project Vishwamitra at T.P. Engineering Corporation case study
2. Improving business portfolio management of Trainees Pv
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 Trainees Pv
Strengths Project Vishwamitra at T.P. Engineering Corporation | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Trainees Pv in Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study are -
Highly skilled collaborators
– Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Cross disciplinary teams
– Horizontal connected teams at the Trainees Pv 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.
Diverse revenue streams
– Trainees Pv is present in almost all the verticals within the industry. This has provided firm in Project Vishwamitra at T.P. Engineering Corporation 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.
Operational resilience
– The operational resilience strategy in the Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Strong track record of project management
– Trainees Pv is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High brand equity
– Trainees Pv has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Trainees Pv to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Trainees Pv digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Trainees Pv 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.
Learning organization
- Trainees Pv 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 Trainees Pv is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Organizational Resilience of Trainees Pv
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Trainees Pv does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Low bargaining power of suppliers
– Suppliers of Trainees Pv in the sector have low bargaining power. Project Vishwamitra at T.P. Engineering Corporation has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Trainees Pv to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Trainees Pv in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Sustainable margins compare to other players in Leadership & Managing People industry
– Project Vishwamitra at T.P. Engineering Corporation firm has clearly differentiated products in the market place. This has enabled Trainees Pv to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Trainees Pv to invest into research and development (R&D) and innovation.
Weaknesses Project Vishwamitra at T.P. Engineering Corporation | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Project Vishwamitra at T.P. Engineering Corporation are -
Capital Spending Reduction
– Even during the low interest decade, Trainees Pv 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv has relatively successful track record of launching new products.
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 Trainees Pv supply chain. Even after few cautionary changes mentioned in the HBR case study - Project Vishwamitra at T.P. Engineering Corporation, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Trainees Pv vulnerable to further global disruptions in South East Asia.
High cash cycle compare to competitors
Trainees Pv has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Trainees Pv is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Project Vishwamitra at T.P. Engineering Corporation 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 operating costs
– Compare to the competitors, firm in the HBR case study Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv 's lucrative customers.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Project Vishwamitra at T.P. Engineering Corporation, it seems that the employees of Trainees Pv 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.
Lack of clear differentiation of Trainees Pv products
– To increase the profitability and margins on the products, Trainees Pv needs to provide more differentiated products than what it is currently offering in the marketplace.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Project Vishwamitra at T.P. Engineering Corporation, in the dynamic environment Trainees Pv has struggled to respond to the nimble upstart competition. Trainees Pv 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 Trainees Pv 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 - Project Vishwamitra at T.P. Engineering Corporation should strive to include more intangible value offerings along with its core products and services.
High bargaining power of channel partners
– Because of the regulatory requirements, S. Ramnarayan, Rekha K.N., Neha Gupta suggests that, Trainees Pv 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.
Opportunities Project Vishwamitra at T.P. Engineering Corporation | 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 Project Vishwamitra at T.P. Engineering Corporation are -
Better consumer reach
– The expansion of the 5G network will help Trainees Pv to increase its market reach. Trainees Pv 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.
Developing new processes and practices
– Trainees Pv 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.
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. Trainees Pv can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Trainees Pv can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Low interest rates
– Even though inflation is raising its head in most developed economies, Trainees Pv 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 Leadership & Managing People industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Trainees Pv 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. Trainees Pv 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Trainees Pv can use these opportunities to build new business models that can help the communities that Trainees Pv operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
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 Trainees Pv 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Trainees Pv 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 Trainees Pv to hire the very best people irrespective of their geographical location.
Creating value in data economy
– The success of analytics program of Trainees Pv has opened avenues for new revenue streams for the organization in the industry. This can help Trainees Pv to build a more holistic ecosystem as suggested in the Project Vishwamitra at T.P. Engineering Corporation case study. Trainees Pv can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Trainees Pv 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, Project Vishwamitra at T.P. Engineering Corporation, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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 Trainees Pv in the consumer business. Now Trainees Pv can target international markets with far fewer capital restrictions requirements than the existing system.
Using analytics as competitive advantage
– Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Trainees Pv to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Threats Project Vishwamitra at T.P. Engineering Corporation External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Project Vishwamitra at T.P. Engineering Corporation are -
Increasing wage structure of Trainees Pv
– 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 Trainees Pv.
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 Trainees Pv.
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.
Environmental challenges
– Trainees Pv 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. Trainees Pv can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Consumer confidence and its impact on Trainees Pv 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Trainees Pv in the Leadership & Managing People industry. The Leadership & Managing People 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.
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 Trainees Pv business can come under increasing regulations regarding data privacy, data security, etc.
Stagnating economy with rate increase
– Trainees Pv 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.
Shortening product life cycle
– it is one of the major threat that Trainees Pv is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
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. Trainees Pv can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Project Vishwamitra at T.P. Engineering Corporation, Trainees Pv may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Leadership & Managing People .
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. Trainees Pv needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Weighted SWOT Analysis of Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv needs to make to build a sustainable competitive advantage.