The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
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Case Study Description of The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?
This article examines the explosive growth of competency-based, or behavioral, selection programs within organizations. Recognizing this trend, many job applicants have learned to position themselves for selection by leveraging competency-based selection program concepts and psychological factors that influence rA?sumA? screening processes and interview decision outcomes. Specifically, there is a growing trend for job applicants to submit behaviorally-focused rA?sumA?s-that is, rA?sumA?s which emphasize behaviors required for success in positions-to gain interviews for job opportunities. These behaviorally-focused rA?sumA?s may position applicants as the 'right' candidates for job opportunities, even if they are not truly the 'right' candidates for the jobs they seek. As such, it benefits employers to familiarize their hiring professionals with behaviorally-based rA?sumA?s and competency program theories. Understanding these concepts and the psychology of behaviorally-focused rA?sumA?s helps hiring professionals evaluate behaviorally-focused rA?sumA?s more accurately, and minimizes rA?sumA? prescreening and selection mistakes.
Swot Analysis of "The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?" written by Dianne Weinstein includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Suma Ra facing as an external strategic factors. Some of the topics covered in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? case study are - Strategic Management Strategies, Motivating people and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? casestudy better are - – supply chains are disrupted by pandemic , there is increasing trade war between United States & China, increasing inequality as vast percentage of new income is going to the top 1%, central banks are concerned over increasing inflation, geopolitical disruptions, increasing energy prices, digital marketing is dominated by two big players Facebook and Google,
wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion, etc
Introduction to SWOT Analysis of The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Suma Ra, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Suma Ra 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? can be done for the following purposes –
1. Strategic planning using facts provided in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? case study
2. Improving business portfolio management of Suma Ra
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 Suma Ra
Strengths The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Suma Ra in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? Harvard Business Review case study are -
Diverse revenue streams
– Suma Ra is present in almost all the verticals within the industry. This has provided firm in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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.
High switching costs
– The high switching costs that Suma Ra 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.
Successful track record of launching new products
– Suma Ra has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Suma Ra 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.
Strong track record of project management
– Suma Ra 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
– Suma Ra has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Suma Ra to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Highly skilled collaborators
– Suma Ra 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Learning organization
- Suma Ra 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 Suma Ra is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Cross disciplinary teams
– Horizontal connected teams at the Suma Ra 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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Suma Ra digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Suma Ra 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.
Analytics focus
– Suma Ra 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 Dianne Weinstein 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.
Organizational Resilience of Suma Ra
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Suma Ra does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Training and development
– Suma Ra has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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.
Weaknesses The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? are -
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?, in the dynamic environment Suma Ra has struggled to respond to the nimble upstart competition. Suma Ra has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 Suma Ra has relatively successful track record of launching new products.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?, it seems that the employees of Suma Ra 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 decision making process
– As mentioned earlier in the report, Suma Ra 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. Suma Ra 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Suma Ra is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Need for greater diversity
– Suma Ra 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.
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 Suma Ra supply chain. Even after few cautionary changes mentioned in the HBR case study - The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Suma Ra vulnerable to further global disruptions in South East Asia.
Low market penetration in new markets
– Outside its home market of Suma Ra, firm in the HBR case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Increasing silos among functional specialists
– The organizational structure of Suma Ra is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Suma Ra needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Suma Ra to focus more on services rather than just following the product oriented approach.
No frontier risks strategy
– After analyzing the HBR case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?, it seems that company is thinking about the frontier risks that can impact Leadership & Managing People 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.
Lack of clear differentiation of Suma Ra products
– To increase the profitability and margins on the products, Suma Ra needs to provide more differentiated products than what it is currently offering in the marketplace.
Opportunities The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? | 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? are -
Loyalty marketing
– Suma Ra 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.
Creating value in data economy
– The success of analytics program of Suma Ra has opened avenues for new revenue streams for the organization in the industry. This can help Suma Ra to build a more holistic ecosystem as suggested in the The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? case study. Suma Ra can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Low interest rates
– Even though inflation is raising its head in most developed economies, Suma Ra can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Better consumer reach
– The expansion of the 5G network will help Suma Ra to increase its market reach. Suma Ra 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Suma Ra 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, The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs?, 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 Suma Ra in the consumer business. Now Suma Ra can target international markets with far fewer capital restrictions requirements than the existing system.
Buying journey improvements
– Suma Ra can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Suma Ra can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Developing new processes and practices
– Suma Ra 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. Suma Ra can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Suma Ra 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.
Using analytics as competitive advantage
– Suma Ra 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Suma Ra to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Learning at scale
– Online learning technologies has now opened space for Suma Ra 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Suma Ra 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.
Technology acceleration in Forth Industrial Revolution
– Suma Ra has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Suma Ra 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.
Increasing wage structure of Suma Ra
– 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 Suma Ra.
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. Suma Ra 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, Suma Ra 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? .
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.
Regulatory challenges
– Suma Ra 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 Leadership & Managing People industry regulations.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Suma Ra with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Shortening product life cycle
– it is one of the major threat that Suma Ra is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Suma Ra 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.
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. Suma Ra 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 Suma Ra business can come under increasing regulations regarding data privacy, data security, etc.
Weighted SWOT Analysis of The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 The Psychology Of Behaviorally-Focused Resumes On Applicant Selection: Are Your Hiring Managers Really Hiring The 'Right' people For The 'Right' Jobs? 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 Suma Ra needs to make to build a sustainable competitive advantage.
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