Case Study Description of Oregon Shakespeare Festival
Paul Nicholson, Oregon Shakespeare Festival (OSF) Executive Director, announced that he would retire at the end of the 2012 season, after a 32-year tenure at OSF. His successor, only the third in 77 years of existence, would take over during the final year of the 2009-2013 Long Range Plan, creating great uncertainty as well as great opportunity. OSF is an arts organization that defies trends. It achieves high artistic quality, attendance, and financial stability, despite presenting challenging, classical material 280 miles from the nearest urban center. However, it is also a company whose core strengths-rotating repertory, longevity in staff-can also work against innovation. To determine focus, OSF goes through a strategic planning process every five years, often bringing about large-scale change. This case describes the planning process for the 2009-13 Oregon Shakespeare Festival Long Range Plan. It explores challenges around innovation and leadership transitions that the executive team faced, and how OSF moved forward despite a strategic plan that was lacking. As the final year of the plan approaches, OSF must determine what it wants in and hire a new Executive Director, a major milestone for the organization, while simultaneously designing the next long range plan.
Authors :: William F. Meehan III, Emily Sophia Knapp
Swot Analysis of "Oregon Shakespeare Festival" written by William F. Meehan III, Emily Sophia Knapp includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Osf Shakespeare facing as an external strategic factors. Some of the topics covered in Oregon Shakespeare Festival case study are - Strategic Management Strategies, Communication, Strategic planning, Strategy execution and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Oregon Shakespeare Festival casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing inequality as vast percentage of new income is going to the top 1%, competitive advantages are harder to sustain because of technology dispersion, technology disruption, central banks are concerned over increasing inflation, geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy,
there is backlash against globalization, cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of Oregon Shakespeare Festival
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Oregon Shakespeare Festival case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Osf Shakespeare, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Osf Shakespeare 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 Oregon Shakespeare Festival can be done for the following purposes –
1. Strategic planning using facts provided in Oregon Shakespeare Festival case study
2. Improving business portfolio management of Osf Shakespeare
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 Osf Shakespeare
Strengths Oregon Shakespeare Festival | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Osf Shakespeare in Oregon Shakespeare Festival Harvard Business Review case study are -
Organizational Resilience of Osf Shakespeare
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Osf Shakespeare does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Cross disciplinary teams
– Horizontal connected teams at the Osf Shakespeare 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.
Diverse revenue streams
– Osf Shakespeare is present in almost all the verticals within the industry. This has provided firm in Oregon Shakespeare Festival 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.
Operational resilience
– The operational resilience strategy in the Oregon Shakespeare Festival 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.
Ability to recruit top talent
– Osf Shakespeare is one of the leading recruiters in the industry. Managers in the Oregon Shakespeare Festival are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Ability to lead change in Leadership & Managing People field
– Osf Shakespeare 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 Osf Shakespeare in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Innovation driven organization
– Osf Shakespeare is one of the most innovative firm in sector. Manager in Oregon Shakespeare Festival Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Leadership & Managing People industry
– Oregon Shakespeare Festival firm has clearly differentiated products in the market place. This has enabled Osf Shakespeare to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Osf Shakespeare to invest into research and development (R&D) and innovation.
Analytics focus
– Osf Shakespeare 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 William F. Meehan III, Emily Sophia Knapp 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.
Effective Research and Development (R&D)
– Osf Shakespeare 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 Oregon Shakespeare Festival - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Superior customer experience
– The customer experience strategy of Osf Shakespeare in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Successful track record of launching new products
– Osf Shakespeare has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Osf Shakespeare 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.
Weaknesses Oregon Shakespeare Festival | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Oregon Shakespeare Festival are -
Slow to strategic competitive environment developments
– As Oregon Shakespeare Festival HBR case study mentions - Osf Shakespeare 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.
Need for greater diversity
– Osf Shakespeare 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 dependence on star products
– The top 2 products and services of the firm as mentioned in the Oregon Shakespeare Festival 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 Osf Shakespeare has relatively successful track record of launching new products.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Osf Shakespeare is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Oregon Shakespeare Festival can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Oregon Shakespeare Festival, is just above the industry average. Osf Shakespeare 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.
No frontier risks strategy
– After analyzing the HBR case study Oregon Shakespeare Festival, 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.
Slow decision making process
– As mentioned earlier in the report, Osf Shakespeare 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. Osf Shakespeare 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 cash cycle compare to competitors
Osf Shakespeare 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.
Skills based hiring
– The stress on hiring functional specialists at Osf Shakespeare 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.
Lack of clear differentiation of Osf Shakespeare products
– To increase the profitability and margins on the products, Osf Shakespeare needs to provide more differentiated products than what it is currently offering in the marketplace.
Increasing silos among functional specialists
– The organizational structure of Osf Shakespeare is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Osf Shakespeare needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Osf Shakespeare to focus more on services rather than just following the product oriented approach.
Opportunities Oregon Shakespeare Festival | 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 Oregon Shakespeare Festival are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Osf Shakespeare can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Manufacturing automation
– Osf Shakespeare 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.
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. Osf Shakespeare can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Developing new processes and practices
– Osf Shakespeare 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.
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 Osf Shakespeare in the consumer business. Now Osf Shakespeare can target international markets with far fewer capital restrictions requirements than the existing system.
Creating value in data economy
– The success of analytics program of Osf Shakespeare has opened avenues for new revenue streams for the organization in the industry. This can help Osf Shakespeare to build a more holistic ecosystem as suggested in the Oregon Shakespeare Festival case study. Osf Shakespeare can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Osf Shakespeare 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, Oregon Shakespeare Festival, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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 Osf Shakespeare 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.
Using analytics as competitive advantage
– Osf Shakespeare 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 Oregon Shakespeare Festival - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Osf Shakespeare to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Osf Shakespeare is facing challenges because of the dominance of functional experts in the organization. Oregon Shakespeare Festival 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.
Building a culture of innovation
– managers at Osf Shakespeare 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Osf Shakespeare 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 Osf Shakespeare to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Osf Shakespeare 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.
Threats Oregon Shakespeare Festival External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Oregon Shakespeare Festival are -
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Environmental challenges
– Osf Shakespeare 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. Osf Shakespeare can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
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 Osf Shakespeare 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 Osf Shakespeare.
Consumer confidence and its impact on Osf Shakespeare 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.
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 Osf Shakespeare in the Leadership & Managing People sector and impact the bottomline of the organization.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Osf Shakespeare 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 Oregon Shakespeare Festival .
Shortening product life cycle
– it is one of the major threat that Osf Shakespeare is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Osf Shakespeare can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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.
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. Osf Shakespeare needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Regulatory challenges
– Osf Shakespeare 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.
Increasing wage structure of Osf Shakespeare
– 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 Osf Shakespeare.
Weighted SWOT Analysis of Oregon Shakespeare Festival 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 Oregon Shakespeare Festival 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 Oregon Shakespeare Festival 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 Oregon Shakespeare Festival 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 Oregon Shakespeare Festival 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 Osf Shakespeare needs to make to build a sustainable competitive advantage.
