Will Your Workers Sue You? State-by-State Risks And Strategic Responses SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Will Your Workers Sue You? State-by-State Risks And Strategic Responses
Every day, managers face the risk of lawsuits being filed by their workers. Lawsuits are disruptive, time consuming, expensive, and often completely unexpected/unanticipated. To better prepare for this undesirable occurrence, managers must understand the risks involved. Three metrics-frequency, severity, and range-elucidate the risks of employment lawsuits and illustrate how these may vary from one state to the next. Risk management tactics can be deployed strategically to handle the variety of risk present in various locations. These tactics create a defense-in-depth strategy with layered multiple-hurdles to stymie employee depletion of corporate assets. Rather than live in perpetual fear, employers can more successfully manage the risks of worker lawsuits.
Swot Analysis of "Will Your Workers Sue You? State-by-State Risks And Strategic Responses" written by Richard A. Posthuma includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Lawsuits Risks facing as an external strategic factors. Some of the topics covered in Will Your Workers Sue You? State-by-State Risks And Strategic Responses case study are - Strategic Management Strategies, Business law, Conflict, Labor, Risk management and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Will Your Workers Sue You? State-by-State Risks And Strategic Responses casestudy better are - – competitive advantages are harder to sustain because of technology dispersion, talent flight as more people leaving formal jobs, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing energy prices, digital marketing is dominated by two big players Facebook and Google, geopolitical disruptions, banking and financial system is disrupted by Bitcoin and other crypto currencies,
increasing household debt because of falling income levels, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of Will Your Workers Sue You? State-by-State Risks And Strategic Responses
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Will Your Workers Sue You? State-by-State Risks And Strategic Responses case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Lawsuits Risks, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Lawsuits Risks 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses can be done for the following purposes –
1. Strategic planning using facts provided in Will Your Workers Sue You? State-by-State Risks And Strategic Responses case study
2. Improving business portfolio management of Lawsuits Risks
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 Lawsuits Risks
Strengths Will Your Workers Sue You? State-by-State Risks And Strategic Responses | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Lawsuits Risks in Will Your Workers Sue You? State-by-State Risks And Strategic Responses Harvard Business Review case study are -
Cross disciplinary teams
– Horizontal connected teams at the Lawsuits Risks 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.
Effective Research and Development (R&D)
– Lawsuits Risks 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Learning organization
- Lawsuits Risks 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 Lawsuits Risks is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Will Your Workers Sue You? State-by-State Risks And Strategic Responses Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Ability to lead change in Leadership & Managing People field
– Lawsuits Risks 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 Lawsuits Risks in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Successful track record of launching new products
– Lawsuits Risks has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Lawsuits Risks 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 brand equity
– Lawsuits Risks has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Lawsuits Risks to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Sustainable margins compare to other players in Leadership & Managing People industry
– Will Your Workers Sue You? State-by-State Risks And Strategic Responses firm has clearly differentiated products in the market place. This has enabled Lawsuits Risks to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Lawsuits Risks to invest into research and development (R&D) and innovation.
Strong track record of project management
– Lawsuits Risks is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Operational resilience
– The operational resilience strategy in the Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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.
Analytics focus
– Lawsuits Risks 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 Richard A. Posthuma 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.
Diverse revenue streams
– Lawsuits Risks is present in almost all the verticals within the industry. This has provided firm in Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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.
Superior customer experience
– The customer experience strategy of Lawsuits Risks in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Weaknesses Will Your Workers Sue You? State-by-State Risks And Strategic Responses | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Will Your Workers Sue You? State-by-State Risks And Strategic Responses are -
Aligning sales with marketing
– It come across in the case study Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses can leverage the sales team experience to cultivate customer relationships as Lawsuits Risks is planning to shift buying processes online.
Increasing silos among functional specialists
– The organizational structure of Lawsuits Risks is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Lawsuits Risks needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Lawsuits Risks to focus more on services rather than just following the product oriented approach.
High bargaining power of channel partners
– Because of the regulatory requirements, Richard A. Posthuma suggests that, Lawsuits Risks 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.
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 Lawsuits Risks supply chain. Even after few cautionary changes mentioned in the HBR case study - Will Your Workers Sue You? State-by-State Risks And Strategic Responses, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Lawsuits Risks vulnerable to further global disruptions in South East Asia.
Interest costs
– Compare to the competition, Lawsuits Risks has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Capital Spending Reduction
– Even during the low interest decade, Lawsuits Risks 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.
Slow to strategic competitive environment developments
– As Will Your Workers Sue You? State-by-State Risks And Strategic Responses HBR case study mentions - Lawsuits Risks 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.
Slow decision making process
– As mentioned earlier in the report, Lawsuits Risks 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. Lawsuits Risks 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.
No frontier risks strategy
– After analyzing the HBR case study Will Your Workers Sue You? State-by-State Risks And Strategic Responses, 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.
High operating costs
– Compare to the competitors, firm in the HBR case study Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Lawsuits Risks 's lucrative customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Lawsuits Risks 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses | 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses are -
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. Lawsuits Risks can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Lawsuits Risks 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Lawsuits Risks can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Building a culture of innovation
– managers at Lawsuits Risks 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.
Using analytics as competitive advantage
– Lawsuits Risks 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Lawsuits Risks to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Better consumer reach
– The expansion of the 5G network will help Lawsuits Risks to increase its market reach. Lawsuits Risks 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Lawsuits Risks 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 Lawsuits Risks to hire the very best people irrespective of their geographical location.
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. Lawsuits Risks can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Developing new processes and practices
– Lawsuits Risks 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.
Creating value in data economy
– The success of analytics program of Lawsuits Risks has opened avenues for new revenue streams for the organization in the industry. This can help Lawsuits Risks to build a more holistic ecosystem as suggested in the Will Your Workers Sue You? State-by-State Risks And Strategic Responses case study. Lawsuits Risks can build new products and services such as - data insight services, data privacy related products, data based consulting services, 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, Lawsuits Risks can use these opportunities to build new business models that can help the communities that Lawsuits Risks operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Buying journey improvements
– Lawsuits Risks can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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.
Loyalty marketing
– Lawsuits Risks 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.
Threats Will Your Workers Sue You? State-by-State Risks And Strategic Responses External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Will Your Workers Sue You? State-by-State Risks And Strategic Responses are -
Environmental challenges
– Lawsuits Risks 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. Lawsuits Risks can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Will Your Workers Sue You? State-by-State Risks And Strategic Responses, Lawsuits Risks 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 .
Shortening product life cycle
– it is one of the major threat that Lawsuits Risks 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.
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 Lawsuits Risks.
Stagnating economy with rate increase
– Lawsuits Risks 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 Lawsuits Risks with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Lawsuits Risks 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
– Lawsuits Risks has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Lawsuits Risks 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.
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. Lawsuits Risks can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Regulatory challenges
– Lawsuits Risks 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 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 international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Lawsuits Risks 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses .
Weighted SWOT Analysis of Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Will Your Workers Sue You? State-by-State Risks And Strategic Responses 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 Lawsuits Risks needs to make to build a sustainable competitive advantage.
