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 - – increasing commodity prices, there is increasing trade war between United States & China, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing household debt because of falling income levels, digital marketing is dominated by two big players Facebook and Google, wage bills are increasing, geopolitical disruptions,
technology disruption, central banks are concerned over increasing inflation, 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 -
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Reality Prejudices digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Reality Prejudices 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.
Analytics focus
– Reality Prejudices 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 Guido Stein Martinez 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.
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.
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.
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.
Cross disciplinary teams
– Horizontal connected teams at the Reality Prejudices 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.
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.
Highly skilled collaborators
– Reality Prejudices has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in How to Respond to a New Management Responsibility? HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
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.
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.
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 -
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.
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.
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.
Skills based hiring
– The stress on hiring functional specialists at Reality Prejudices 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 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 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Reality Prejudices is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study How to Respond to a New Management Responsibility? can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
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.
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.
Aligning sales with marketing
– It come across in the case study How to Respond to a New Management Responsibility? 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 How to Respond to a New Management Responsibility? can leverage the sales team experience to cultivate customer relationships as Reality Prejudices is planning to shift buying processes online.
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.
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 -
Learning at scale
– Online learning technologies has now opened space for Reality Prejudices 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.
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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Leadership & Managing People industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Reality Prejudices can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Reality Prejudices can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
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.
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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Reality Prejudices is facing challenges because of the dominance of functional experts in the organization. How to Respond to a New Management Responsibility? 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.
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.
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. Reality Prejudices can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Reality Prejudices in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.
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.
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 Reality Prejudices 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.
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.
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 -
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.
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.
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.
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.
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.
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 Reality Prejudices business can come under increasing regulations regarding data privacy, data security, etc.
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.
High dependence on third party suppliers
– Reality Prejudices 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.
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.
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.
Increasing wage structure of Reality Prejudices
– 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 Reality Prejudices.
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.
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.
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.