Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book
Harvey Penick's Little Red Book is a collection of the legendary golf coach's tips, tricks, and tales about the greats he has tutored. According to author Candida G. Brush, the Little Red Book can not only be used to help manage your golf game, but also your career transitions.
Swot Analysis of "Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book" written by Candida G. Brush includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Penick's Golf facing as an external strategic factors. Some of the topics covered in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book case study are - Strategic Management Strategies, and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book casestudy better are - – digital marketing is dominated by two big players Facebook and Google, wage bills are increasing, increasing inequality as vast percentage of new income is going to the top 1%, increasing energy prices, banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, central banks are concerned over increasing inflation,
there is backlash against globalization, increasing household debt because of falling income levels, etc
Introduction to SWOT Analysis of Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Penick's Golf, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Penick's Golf 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book can be done for the following purposes –
1. Strategic planning using facts provided in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book case study
2. Improving business portfolio management of Penick's Golf
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 Penick's Golf
Strengths Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Penick's Golf in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book Harvard Business Review case study are -
Sustainable margins compare to other players in Leadership & Managing People industry
– Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book firm has clearly differentiated products in the market place. This has enabled Penick's Golf to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Penick's Golf to invest into research and development (R&D) and innovation.
Operational resilience
– The operational resilience strategy in the Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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.
Superior customer experience
– The customer experience strategy of Penick's Golf in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Effective Research and Development (R&D)
– Penick's Golf 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Diverse revenue streams
– Penick's Golf is present in almost all the verticals within the industry. This has provided firm in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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
– Penick's Golf has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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.
Cross disciplinary teams
– Horizontal connected teams at the Penick's Golf 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.
Successful track record of launching new products
– Penick's Golf has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Penick's Golf 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.
High switching costs
– The high switching costs that Penick's Golf 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.
Innovation driven organization
– Penick's Golf is one of the most innovative firm in sector. Manager in Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Ability to lead change in Leadership & Managing People field
– Penick's Golf 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 Penick's Golf in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Strong track record of project management
– Penick's Golf is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book are -
Skills based hiring
– The stress on hiring functional specialists at Penick's Golf 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book, in the dynamic environment Penick's Golf has struggled to respond to the nimble upstart competition. Penick's Golf has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Lack of clear differentiation of Penick's Golf products
– To increase the profitability and margins on the products, Penick's Golf needs to provide more differentiated products than what it is currently offering in the marketplace.
Need for greater diversity
– Penick's Golf 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.
Aligning sales with marketing
– It come across in the case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book can leverage the sales team experience to cultivate customer relationships as Penick's Golf is planning to shift buying processes online.
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 Penick's Golf supply chain. Even after few cautionary changes mentioned in the HBR case study - Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Penick's Golf vulnerable to further global disruptions in South East Asia.
High operating costs
– Compare to the competitors, firm in the HBR case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Penick's Golf 's lucrative customers.
High cash cycle compare to competitors
Penick's Golf 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book, is just above the industry average. Penick's Golf 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.
Slow to strategic competitive environment developments
– As Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book HBR case study mentions - Penick's Golf 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.
Low market penetration in new markets
– Outside its home market of Penick's Golf, firm in the HBR case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book | 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book are -
Building a culture of innovation
– managers at Penick's Golf can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Leadership & Managing People segment.
Learning at scale
– Online learning technologies has now opened space for Penick's Golf 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.
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 Penick's Golf 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.
Creating value in data economy
– The success of analytics program of Penick's Golf has opened avenues for new revenue streams for the organization in the industry. This can help Penick's Golf to build a more holistic ecosystem as suggested in the Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book case study. Penick's Golf can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Better consumer reach
– The expansion of the 5G network will help Penick's Golf to increase its market reach. Penick's Golf 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.
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. Penick's Golf can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Buying journey improvements
– Penick's Golf can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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.
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 Penick's Golf in the consumer business. Now Penick's Golf can target international markets with far fewer capital restrictions requirements than the existing system.
Loyalty marketing
– Penick's Golf 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.
Leveraging digital technologies
– Penick's Golf 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.
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. Penick's Golf 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 Penick's Golf can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Penick's Golf can use these opportunities to build new business models that can help the communities that Penick's Golf operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Threats Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book are -
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.
Increasing wage structure of Penick's Golf
– 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 Penick's Golf.
High dependence on third party suppliers
– Penick's Golf 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.
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 Penick's Golf.
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. Penick's Golf can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Penick's Golf with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Stagnating economy with rate increase
– Penick's Golf 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.
Technology acceleration in Forth Industrial Revolution
– Penick's Golf has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Penick's Golf 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Penick's Golf 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.
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. Penick's Golf needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
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. Penick's Golf 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.
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
– Penick's Golf 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. Penick's Golf can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Weighted SWOT Analysis of Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 Penick's Golf needs to make to build a sustainable competitive advantage.
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