Case Study Description of Project Vishwamitra at T.P. Engineering Corporation
The case describes the introduction of a human resources (HR) system named "Project Vishwamitra" (PV) in 2000 in a large, technocratic public sector organization, TP Engineering Corporation (TPEC). PV was introduced with considerable leadership support and visibility. It was intended to provide every engineer trainee at TPEC a friend and guide to ease their entry and socialization into the organization. The senior managers assigned to guide the trainees were called "mentors." For the first four to five years, the project ran smoothly. The trainees distinctly felt supported whenever they needed some help. At the same time, the mentors were happy to guide trainees. After four to five years, certain important changes took place in the organization in staffing of leadership positions. With expansion and new projects, the growth trajectory of TPEC also showed a sharp increase. With earlier people moving out and a significant rise in the number of trainees being recruited, PV ran into difficult waters. Yet, no changes were made in the system or processes. PV started to get ritualized - meetings between trainees and mentors became more infrequent and in certain areas, there was total absence of any contact between the two. In the midst of degeneration, one of the leaders was able to revive the project in Unit Chelpur. With highly ambitious growth plans, the number of trainees was expected to increase from 450 in 2010 to 750 in 2011. The company faced a choice regarding the form in which PV should continue.
Swot Analysis of "Project Vishwamitra at T.P. Engineering Corporation" written by S. Ramnarayan, Rekha K.N., Neha Gupta includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Trainees Pv facing as an external strategic factors. Some of the topics covered in Project Vishwamitra at T.P. Engineering Corporation case study are - Strategic Management Strategies, Entrepreneurship, International business, Leadership, Organizational culture and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Project Vishwamitra at T.P. Engineering Corporation casestudy better are - – cloud computing is disrupting traditional business models, central banks are concerned over increasing inflation, increasing transportation and logistics costs, technology disruption, talent flight as more people leaving formal jobs, challanges to central banks by blockchain based private currencies, there is backlash against globalization,
customer relationship management is fast transforming because of increasing concerns over data privacy, increasing household debt because of falling income levels, etc
Introduction to SWOT Analysis of Project Vishwamitra at T.P. Engineering Corporation
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Project Vishwamitra at T.P. Engineering Corporation case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Trainees Pv, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation can be done for the following purposes –
1. Strategic planning using facts provided in Project Vishwamitra at T.P. Engineering Corporation case study
2. Improving business portfolio management of Trainees Pv
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 Trainees Pv
Strengths Project Vishwamitra at T.P. Engineering Corporation | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Trainees Pv in Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study are -
Learning organization
- Trainees Pv 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 Trainees Pv is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Successful track record of launching new products
– Trainees Pv has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Trainees Pv 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.
Diverse revenue streams
– Trainees Pv is present in almost all the verticals within the industry. This has provided firm in Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv 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
– Project Vishwamitra at T.P. Engineering Corporation firm has clearly differentiated products in the market place. This has enabled Trainees Pv to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Trainees Pv to invest into research and development (R&D) and innovation.
High switching costs
– The high switching costs that Trainees Pv 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.
Strong track record of project management
– Trainees Pv is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Effective Research and Development (R&D)
– Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High brand equity
– Trainees Pv has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Trainees Pv to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to recruit top talent
– Trainees Pv is one of the leading recruiters in the industry. Managers in the Project Vishwamitra at T.P. Engineering Corporation are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Low bargaining power of suppliers
– Suppliers of Trainees Pv in the sector have low bargaining power. Project Vishwamitra at T.P. Engineering Corporation has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Trainees Pv to manage not only supply disruptions but also source products at highly competitive prices.
Training and development
– Trainees Pv has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Project Vishwamitra at T.P. Engineering Corporation Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Weaknesses Project Vishwamitra at T.P. Engineering Corporation | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Project Vishwamitra at T.P. Engineering Corporation are -
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Project Vishwamitra at T.P. Engineering Corporation, in the dynamic environment Trainees Pv has struggled to respond to the nimble upstart competition. Trainees Pv has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Skills based hiring
– The stress on hiring functional specialists at Trainees Pv 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Project Vishwamitra at T.P. Engineering Corporation, is just above the industry average. Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation HBR case study mentions - Trainees Pv 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.
Lack of clear differentiation of Trainees Pv products
– To increase the profitability and margins on the products, Trainees Pv needs to provide more differentiated products than what it is currently offering in the marketplace.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Project Vishwamitra at T.P. Engineering Corporation, it seems that the employees of Trainees Pv 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, Trainees Pv 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. Trainees Pv 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Trainees Pv 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.
Low market penetration in new markets
– Outside its home market of Trainees Pv, firm in the HBR case study Project Vishwamitra at T.P. Engineering Corporation needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High bargaining power of channel partners
– Because of the regulatory requirements, S. Ramnarayan, Rekha K.N., Neha Gupta suggests that, Trainees Pv 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 star products
– The top 2 products and services of the firm as mentioned in the Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv has relatively successful track record of launching new products.
Opportunities Project Vishwamitra at T.P. Engineering Corporation | 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 Project Vishwamitra at T.P. Engineering Corporation are -
Building a culture of innovation
– managers at Trainees Pv 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.
Developing new processes and practices
– Trainees Pv 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.
Learning at scale
– Online learning technologies has now opened space for Trainees Pv 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.
Manufacturing automation
– Trainees Pv 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.
Leveraging digital technologies
– Trainees Pv 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Trainees Pv can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, Project Vishwamitra at T.P. Engineering Corporation, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Using analytics as competitive advantage
– Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Trainees Pv to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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 Trainees Pv in the consumer business. Now Trainees Pv can target international markets with far fewer capital restrictions requirements than the existing system.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Trainees Pv 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 Trainees Pv to hire the very best people irrespective of their geographical location.
Low interest rates
– Even though inflation is raising its head in most developed economies, Trainees Pv 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.
Buying journey improvements
– Trainees Pv can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Project Vishwamitra at T.P. Engineering Corporation 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Trainees Pv can use these opportunities to build new business models that can help the communities that Trainees Pv operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Trainees Pv is facing challenges because of the dominance of functional experts in the organization. Project Vishwamitra at T.P. Engineering Corporation 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.
Threats Project Vishwamitra at T.P. Engineering Corporation External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Project Vishwamitra at T.P. Engineering Corporation are -
Technology acceleration in Forth Industrial Revolution
– Trainees Pv has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Trainees Pv 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.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Shortening product life cycle
– it is one of the major threat that Trainees Pv is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Stagnating economy with rate increase
– Trainees Pv 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.
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.
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. Trainees Pv 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
– Trainees Pv 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.
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 Trainees Pv business can come under increasing regulations regarding data privacy, data security, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Trainees Pv 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 Project Vishwamitra at T.P. Engineering Corporation .
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 Trainees Pv.
Consumer confidence and its impact on Trainees Pv 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.
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. Trainees Pv 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.
Environmental challenges
– Trainees Pv 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. Trainees Pv can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Weighted SWOT Analysis of Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Project Vishwamitra at T.P. Engineering Corporation 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 Trainees Pv needs to make to build a sustainable competitive advantage.
