Developing and Diffusing New Technologies: Strategies for Legitimization SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Developing and Diffusing New Technologies: Strategies for Legitimization
Drawing on cases in agricultural transgenic technology and genomics in forestry, this article provides a framework to help managers develop strategies for more efficient technology development and diffusion. Strategies that fail to consider legitimization processes, especially in controversial social environments and/or varying institutional settings, could result in costly delays or promising technology left sitting on the shelf. Technology developers need to identify key technological, commercial, organizational, and societal uncertainties during the early phases of the technology's development, allowing them to shape the technology for more efficient diffusion.
Authors :: Jeremy Hall, Vernon Bachor, Stelvia Matos
Swot Analysis of "Developing and Diffusing New Technologies: Strategies for Legitimization" written by Jeremy Hall, Vernon Bachor, Stelvia Matos includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Legitimization Diffusion facing as an external strategic factors. Some of the topics covered in Developing and Diffusing New Technologies: Strategies for Legitimization case study are - Strategic Management Strategies, Research & development and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Developing and Diffusing New Technologies: Strategies for Legitimization casestudy better are - – wage bills are increasing, digital marketing is dominated by two big players Facebook and Google, there is backlash against globalization, increasing commodity prices, challanges to central banks by blockchain based private currencies, talent flight as more people leaving formal jobs, geopolitical disruptions,
banking and financial system is disrupted by Bitcoin and other crypto currencies, central banks are concerned over increasing inflation, etc
Introduction to SWOT Analysis of Developing and Diffusing New Technologies: Strategies for Legitimization
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Developing and Diffusing New Technologies: Strategies for Legitimization case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Legitimization Diffusion, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization can be done for the following purposes –
1. Strategic planning using facts provided in Developing and Diffusing New Technologies: Strategies for Legitimization case study
2. Improving business portfolio management of Legitimization Diffusion
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 Legitimization Diffusion
Strengths Developing and Diffusing New Technologies: Strategies for Legitimization | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Legitimization Diffusion in Developing and Diffusing New Technologies: Strategies for Legitimization Harvard Business Review case study are -
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Legitimization Diffusion digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Legitimization Diffusion 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.
Successful track record of launching new products
– Legitimization Diffusion has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Legitimization Diffusion 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.
Ability to recruit top talent
– Legitimization Diffusion is one of the leading recruiters in the industry. Managers in the Developing and Diffusing New Technologies: Strategies for Legitimization are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Operational resilience
– The operational resilience strategy in the Developing and Diffusing New Technologies: Strategies for Legitimization 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.
Highly skilled collaborators
– Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Diverse revenue streams
– Legitimization Diffusion is present in almost all the verticals within the industry. This has provided firm in Developing and Diffusing New Technologies: Strategies for Legitimization 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.
Training and development
– Legitimization Diffusion has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Developing and Diffusing New Technologies: Strategies for Legitimization 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)
– Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Superior customer experience
– The customer experience strategy of Legitimization Diffusion 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
– Developing and Diffusing New Technologies: Strategies for Legitimization firm has clearly differentiated products in the market place. This has enabled Legitimization Diffusion to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Legitimization Diffusion to invest into research and development (R&D) and innovation.
Organizational Resilience of Legitimization Diffusion
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Legitimization Diffusion 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 Legitimization Diffusion in the sector have low bargaining power. Developing and Diffusing New Technologies: Strategies for Legitimization has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Legitimization Diffusion to manage not only supply disruptions but also source products at highly competitive prices.
Weaknesses Developing and Diffusing New Technologies: Strategies for Legitimization | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Developing and Diffusing New Technologies: Strategies for Legitimization are -
Slow to strategic competitive environment developments
– As Developing and Diffusing New Technologies: Strategies for Legitimization HBR case study mentions - Legitimization Diffusion 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.
Increasing silos among functional specialists
– The organizational structure of Legitimization Diffusion is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Legitimization Diffusion needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Legitimization Diffusion to focus more on services rather than just following the product oriented approach.
Lack of clear differentiation of Legitimization Diffusion products
– To increase the profitability and margins on the products, Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization 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 Legitimization Diffusion 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 Legitimization Diffusion supply chain. Even after few cautionary changes mentioned in the HBR case study - Developing and Diffusing New Technologies: Strategies for Legitimization, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Legitimization Diffusion vulnerable to further global disruptions in South East Asia.
Need for greater diversity
– Legitimization Diffusion 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 operating costs
– Compare to the competitors, firm in the HBR case study Developing and Diffusing New Technologies: Strategies for Legitimization 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 Legitimization Diffusion 's lucrative customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Developing and Diffusing New Technologies: Strategies for Legitimization, is just above the industry average. Legitimization Diffusion needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Developing and Diffusing New Technologies: Strategies for Legitimization, in the dynamic environment Legitimization Diffusion has struggled to respond to the nimble upstart competition. Legitimization Diffusion 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 Legitimization Diffusion 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 - Developing and Diffusing New Technologies: Strategies for Legitimization should strive to include more intangible value offerings along with its core products and services.
Workers concerns about automation
– As automation is fast increasing in the segment, Legitimization Diffusion 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.
Opportunities Developing and Diffusing New Technologies: Strategies for Legitimization | 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 Developing and Diffusing New Technologies: Strategies for Legitimization are -
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Legitimization Diffusion can use these opportunities to build new business models that can help the communities that Legitimization Diffusion 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 Legitimization Diffusion 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Legitimization Diffusion can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Using analytics as competitive advantage
– Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Legitimization Diffusion to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Loyalty marketing
– Legitimization Diffusion 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Legitimization Diffusion is facing challenges because of the dominance of functional experts in the organization. Developing and Diffusing New Technologies: Strategies for Legitimization 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.
Better consumer reach
– The expansion of the 5G network will help Legitimization Diffusion to increase its market reach. Legitimization Diffusion 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
– Legitimization Diffusion 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Legitimization Diffusion 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.
Buying journey improvements
– Legitimization Diffusion can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Developing and Diffusing New Technologies: Strategies for Legitimization 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.
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. Legitimization Diffusion can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Creating value in data economy
– The success of analytics program of Legitimization Diffusion has opened avenues for new revenue streams for the organization in the industry. This can help Legitimization Diffusion to build a more holistic ecosystem as suggested in the Developing and Diffusing New Technologies: Strategies for Legitimization case study. Legitimization Diffusion can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Manufacturing automation
– Legitimization Diffusion 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.
Threats Developing and Diffusing New Technologies: Strategies for Legitimization External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Developing and Diffusing New Technologies: Strategies for Legitimization are -
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 Legitimization Diffusion.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Legitimization Diffusion with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Developing and Diffusing New Technologies: Strategies for Legitimization, Legitimization Diffusion 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 .
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 Legitimization Diffusion in the Leadership & Managing People sector and impact the bottomline of the organization.
Shortening product life cycle
– it is one of the major threat that Legitimization Diffusion is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Legitimization Diffusion 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.
Regulatory challenges
– Legitimization Diffusion 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.
Technology acceleration in Forth Industrial Revolution
– Legitimization Diffusion has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Legitimization Diffusion 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.
Environmental challenges
– Legitimization Diffusion 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. Legitimization Diffusion can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Stagnating economy with rate increase
– Legitimization Diffusion 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.
High dependence on third party suppliers
– Legitimization Diffusion high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Legitimization Diffusion 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 Developing and Diffusing New Technologies: Strategies for Legitimization .
Weighted SWOT Analysis of Developing and Diffusing New Technologies: Strategies for Legitimization 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 Developing and Diffusing New Technologies: Strategies for Legitimization 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 Developing and Diffusing New Technologies: Strategies for Legitimization 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 Developing and Diffusing New Technologies: Strategies for Legitimization 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 Developing and Diffusing New Technologies: Strategies for Legitimization 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 Legitimization Diffusion needs to make to build a sustainable competitive advantage.
