Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg
In late spring 2009, Stroz Friedberg co-presidents Edward Stroz and Eric Friedberg had to set growth targets for 2010. The leading global consulting firm they had built specialized in managing digital risk and uncovering digital evidence and had grown very rapidly. With the firm CFO, they believed that the firm could grow from $58 million to $72 million, a growth rate of 27% over the preceding year. However, the firm's 11 offices had submitted first draft FY2010 plans that together added up to firm-wide revenues of only $53 million, a growth rate of negative 10.2%. The preceding years of rapid growth had been successful but challenging, and a thorough review of the firm's culture, systems, structure and processes in late 2008 had resulted in a significant set of changes to which the organization was still adjusting. Stroz and Friedberg wondered whether to push for continued, aggressive growth.
Swot Analysis of "Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg" written by David A. Garvin includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Friedberg Stroz facing as an external strategic factors. Some of the topics covered in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg case study are - Strategic Management Strategies, Entrepreneurial management, Organizational structure and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg casestudy better are - – customer relationship management is fast transforming because of increasing concerns over data privacy, increasing household debt because of falling income levels, increasing commodity prices, increasing energy prices, challanges to central banks by blockchain based private currencies, increasing inequality as vast percentage of new income is going to the top 1%, there is increasing trade war between United States & China,
supply chains are disrupted by pandemic , talent flight as more people leaving formal jobs, etc
Introduction to SWOT Analysis of Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Friedberg Stroz, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Friedberg Stroz 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg can be done for the following purposes –
1. Strategic planning using facts provided in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg case study
2. Improving business portfolio management of Friedberg Stroz
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 Friedberg Stroz
Strengths Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Friedberg Stroz in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg Harvard Business Review case study are -
Operational resilience
– The operational resilience strategy in the Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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.
Learning organization
- Friedberg Stroz 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 Friedberg Stroz is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Training and development
– Friedberg Stroz has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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.
Ability to recruit top talent
– Friedberg Stroz is one of the leading recruiters in the industry. Managers in the Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Strong track record of project management
– Friedberg Stroz is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Friedberg Stroz digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Friedberg Stroz has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Successful track record of launching new products
– Friedberg Stroz has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Friedberg Stroz 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.
Superior customer experience
– The customer experience strategy of Friedberg Stroz 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
– Friedberg Stroz 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 Friedberg Stroz in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Friedberg Stroz 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 David A. Garvin 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.
Innovation driven organization
– Friedberg Stroz is one of the most innovative firm in sector. Manager in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Diverse revenue streams
– Friedberg Stroz is present in almost all the verticals within the industry. This has provided firm in Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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.
Weaknesses Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg are -
Slow to strategic competitive environment developments
– As Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg HBR case study mentions - Friedberg Stroz 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Friedberg Stroz 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.
High bargaining power of channel partners
– Because of the regulatory requirements, David A. Garvin suggests that, Friedberg Stroz 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 operating costs
– Compare to the competitors, firm in the HBR case study Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Friedberg Stroz 's lucrative customers.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Friedberg Stroz is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Need for greater diversity
– Friedberg Stroz has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
High cash cycle compare to competitors
Friedberg Stroz 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.
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 Friedberg Stroz supply chain. Even after few cautionary changes mentioned in the HBR case study - Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Friedberg Stroz vulnerable to further global disruptions in South East Asia.
Increasing silos among functional specialists
– The organizational structure of Friedberg Stroz is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Friedberg Stroz needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Friedberg Stroz to focus more on services rather than just following the product oriented approach.
Lack of clear differentiation of Friedberg Stroz products
– To increase the profitability and margins on the products, Friedberg Stroz needs to provide more differentiated products than what it is currently offering in the marketplace.
Aligning sales with marketing
– It come across in the case study Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg can leverage the sales team experience to cultivate customer relationships as Friedberg Stroz is planning to shift buying processes online.
Opportunities Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg | 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg are -
Redefining models of collaboration and team work
– As explained in the weaknesses section, Friedberg Stroz is facing challenges because of the dominance of functional experts in the organization. Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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.
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 Friedberg Stroz 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.
Building a culture of innovation
– managers at Friedberg Stroz 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.
Loyalty marketing
– Friedberg Stroz 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.
Developing new processes and practices
– Friedberg Stroz 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.
Using analytics as competitive advantage
– Friedberg Stroz 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Friedberg Stroz to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Friedberg Stroz can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Friedberg Stroz can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of Friedberg Stroz has opened avenues for new revenue streams for the organization in the industry. This can help Friedberg Stroz to build a more holistic ecosystem as suggested in the Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg case study. Friedberg Stroz can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Friedberg Stroz 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 Friedberg Stroz to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Friedberg Stroz 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, Friedberg Stroz 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, Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Manufacturing automation
– Friedberg Stroz can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Threats Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg are -
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. Friedberg Stroz needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Stagnating economy with rate increase
– Friedberg Stroz 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 Friedberg Stroz with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Shortening product life cycle
– it is one of the major threat that Friedberg Stroz is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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 Friedberg Stroz business can come under increasing regulations regarding data privacy, data security, etc.
High dependence on third party suppliers
– Friedberg Stroz 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.
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. Friedberg Stroz can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Technology acceleration in Forth Industrial Revolution
– Friedberg Stroz has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Friedberg Stroz needs to keep up with the evolution of technology in the Leadership & Managing People sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Environmental challenges
– Friedberg Stroz 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. Friedberg Stroz can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
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.
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 Friedberg Stroz in the Leadership & Managing People sector and impact the bottomline of the organization.
Regulatory challenges
– Friedberg Stroz 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.
Consumer confidence and its impact on Friedberg Stroz 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.
Weighted SWOT Analysis of Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Interview with Edward Stroz and Eric Friedberg, Co-Presidents of Stroz Friedberg 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 Friedberg Stroz needs to make to build a sustainable competitive advantage.