How to Respond to a New Management Responsibility? SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of How to Respond to a New Management Responsibility?
When starting a new position, there will inevitably be a contrast between what we believed or assumed it was going to be like, what we were certain about and what we have to deal with in reality. While that change may be very beneficial, that clash or disconnect between expectations and objectivity must be addressed so that our arrival does not cause a shock or any worse consequences. When taking on a new role, it is common for us to ask ourselves things like: What do I do now? What are my options for advancing in the right direction? As we illustrate in this paper, there are several different factors to consider when charting the path to follow and deciding how to move forward. These include: developing a plan for learning the key things we did not know before and discarding the beliefs we held that proved to be false. It all boils down to challenging what we believe to be evident by comparing it with contradictory information. When coming from outside the organization, it is important to subject our prejudices to the reality of things; if coming from the inside, we need to look at whether what we bring with us is what will guide us going forward, or if we should renew and round out our repertoire of resources for action.
Swot Analysis of "How to Respond to a New Management Responsibility?" written by Guido Stein Martinez includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Reality Prejudices facing as an external strategic factors. Some of the topics covered in How to Respond to a New Management Responsibility? case study are - Strategic Management Strategies, Influence, Leadership, Leading teams and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the How to Respond to a New Management Responsibility? casestudy better are - – there is increasing trade war between United States & China, increasing energy prices, customer relationship management is fast transforming because of increasing concerns over data privacy, digital marketing is dominated by two big players Facebook and Google, banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, technology disruption,
talent flight as more people leaving formal jobs, increasing commodity prices, etc
Introduction to SWOT Analysis of How to Respond to a New Management Responsibility?
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in How to Respond to a New Management Responsibility? case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Reality Prejudices, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Reality Prejudices 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 How to Respond to a New Management Responsibility? can be done for the following purposes –
1. Strategic planning using facts provided in How to Respond to a New Management Responsibility? case study
2. Improving business portfolio management of Reality Prejudices
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 Reality Prejudices
Strengths How to Respond to a New Management Responsibility? | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Reality Prejudices in How to Respond to a New Management Responsibility? Harvard Business Review case study are -
High brand equity
– Reality Prejudices has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Reality Prejudices to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Leadership & Managing People field
– Reality Prejudices 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 Reality Prejudices in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Diverse revenue streams
– Reality Prejudices is present in almost all the verticals within the industry. This has provided firm in How to Respond to a New Management Responsibility? 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.
Learning organization
- Reality Prejudices 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 Reality Prejudices is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in How to Respond to a New Management Responsibility? Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Organizational Resilience of Reality Prejudices
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Reality Prejudices does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Operational resilience
– The operational resilience strategy in the How to Respond to a New Management Responsibility? 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
– Reality Prejudices is one of the leading recruiters in the industry. Managers in the How to Respond to a New Management Responsibility? are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Innovation driven organization
– Reality Prejudices is one of the most innovative firm in sector. Manager in How to Respond to a New Management Responsibility? Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
High switching costs
– The high switching costs that Reality Prejudices 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.
Low bargaining power of suppliers
– Suppliers of Reality Prejudices in the sector have low bargaining power. How to Respond to a New Management Responsibility? has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Reality Prejudices to manage not only supply disruptions but also source products at highly competitive prices.
Successful track record of launching new products
– Reality Prejudices has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Reality Prejudices 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.
Training and development
– Reality Prejudices has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of How to Respond to a New Management Responsibility? are -
Lack of clear differentiation of Reality Prejudices products
– To increase the profitability and margins on the products, Reality Prejudices needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow decision making process
– As mentioned earlier in the report, Reality Prejudices 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. Reality Prejudices 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.
Products dominated business model
– Even though Reality Prejudices has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - How to Respond to a New Management Responsibility? should strive to include more intangible value offerings along with its core products and services.
Increasing silos among functional specialists
– The organizational structure of Reality Prejudices is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Reality Prejudices needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Reality Prejudices to focus more on services rather than just following the product oriented approach.
Workers concerns about automation
– As automation is fast increasing in the segment, Reality Prejudices 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 cash cycle compare to competitors
Reality Prejudices 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.
Capital Spending Reduction
– Even during the low interest decade, Reality Prejudices 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.
High operating costs
– Compare to the competitors, firm in the HBR case study How to Respond to a New Management Responsibility? 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 Reality Prejudices 's lucrative customers.
Slow to strategic competitive environment developments
– As How to Respond to a New Management Responsibility? HBR case study mentions - Reality Prejudices 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.
High bargaining power of channel partners
– Because of the regulatory requirements, Guido Stein Martinez suggests that, Reality Prejudices 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.
No frontier risks strategy
– After analyzing the HBR case study How to Respond to a New Management Responsibility?, 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.
Opportunities How to Respond to a New Management Responsibility? | 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 How to Respond to a New Management Responsibility? are -
Manufacturing automation
– Reality Prejudices 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Reality Prejudices can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Buying journey improvements
– Reality Prejudices can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. How to Respond to a New Management Responsibility? 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
– Reality Prejudices 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.
Leveraging digital technologies
– Reality Prejudices 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.
Creating value in data economy
– The success of analytics program of Reality Prejudices has opened avenues for new revenue streams for the organization in the industry. This can help Reality Prejudices to build a more holistic ecosystem as suggested in the How to Respond to a New Management Responsibility? case study. Reality Prejudices can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Reality Prejudices 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 How to Respond to a New Management Responsibility? - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Reality Prejudices to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Developing new processes and practices
– Reality Prejudices 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 Reality Prejudices in the consumer business. Now Reality Prejudices 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 Reality Prejudices 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 Reality Prejudices to hire the very best people irrespective of their geographical location.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Reality Prejudices can use these opportunities to build new business models that can help the communities that Reality Prejudices operates in. Secondly it can use opportunities from government spending in Leadership & Managing People sector.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Reality Prejudices 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, How to Respond to a New Management Responsibility?, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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. Reality Prejudices can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Threats How to Respond to a New Management Responsibility? External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study How to Respond to a New Management Responsibility? are -
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. Reality Prejudices can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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 Reality Prejudices in the Leadership & Managing People sector and impact the bottomline of the organization.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Reality Prejudices with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Technology acceleration in Forth Industrial Revolution
– Reality Prejudices has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Reality Prejudices 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.
Regulatory challenges
– Reality Prejudices 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.
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 Reality Prejudices.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Reality Prejudices 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.
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. Reality Prejudices needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study How to Respond to a New Management Responsibility?, Reality Prejudices 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 .
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.
Environmental challenges
– Reality Prejudices 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. Reality Prejudices can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Stagnating economy with rate increase
– Reality Prejudices 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.
Shortening product life cycle
– it is one of the major threat that Reality Prejudices is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? 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 Reality Prejudices needs to make to build a sustainable competitive advantage.
