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 - – increasing government debt because of Covid-19 spendings, supply chains are disrupted by pandemic , central banks are concerned over increasing inflation, there is backlash against globalization, increasing transportation and logistics costs, cloud computing is disrupting traditional business models, challanges to central banks by blockchain based private currencies,
increasing energy prices, there is increasing trade war between United States & China, 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.
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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Penick's Golf digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Penick's Golf 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.
Ability to recruit top talent
– Penick's Golf is one of the leading recruiters in the industry. Managers in the Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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 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.
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.
High brand equity
– Penick's Golf has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Penick's Golf to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Learning organization
- Penick's Golf 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 Penick's Golf is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders 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 emphasize – knowledge, initiative, and innovation.
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.
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.
Analytics focus
– Penick's Golf 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 Candida G. Brush 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.
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 -
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.
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.
Capital Spending Reduction
– Even during the low interest decade, Penick's Golf 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.
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 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.
Employees’ incomplete understanding of strategy
– From the instances 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 seems that the employees of Penick's Golf 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, Penick's Golf 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. Penick's Golf 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Candida G. Brush suggests that, Penick's Golf 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Penick's Golf 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.
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.
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.
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 -
Developing new processes and practices
– Penick's Golf 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.
Manufacturing automation
– Penick's Golf 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.
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.
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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Penick's Golf 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 Penick's Golf to hire the very best people irrespective of their geographical location.
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. Penick's Golf 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. Penick's Golf 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.
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.
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.
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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Penick's Golf 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Penick's Golf is facing challenges because of the dominance of functional experts in the organization. Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book 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.
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.
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.
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 -
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 Penick's Golf business can come under increasing regulations regarding data privacy, data security, etc.
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.
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.
Consumer confidence and its impact on Penick's Golf 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.
Shortening product life cycle
– it is one of the major threat that Penick's Golf is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 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.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Penick's Golf 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 Tips for Managing Career Transitions and Your Golf Game: Lessons and Teaching from Harvey Penick's Little Red Book .
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 Penick's Golf in the Leadership & Managing People sector and impact the bottomline of the organization.
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.
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.
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.
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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