Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers
Emerging research suggests that multicultural individuals have innate abilities that make them exceptional candidates for global leadership -- yet they often pass under the radar of HR. Although companies are hiring more multicultural employees, it is frequently a token gesture to reflect society's growing ethnic diversity, or because they need their language abilities. What's really needed, say the authors, is a greater awareness and appreciation of the beneficial role of culture in the workplace. This article explains how companies might identify and make better use of the invaluable attributes offered by multicultural managers and employees. Drawing on research, interviews and case studies, the authors suggest how cultural intelligence might be developed as a vital managerial competence for the world we live in today.
Swot Analysis of "Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers" written by Yih-teen Lee, Yuan Liao includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Multicultural Abilities facing as an external strategic factors. Some of the topics covered in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers case study are - Strategic Management Strategies, Leadership and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers casestudy better are - – challanges to central banks by blockchain based private currencies, increasing government debt because of Covid-19 spendings, customer relationship management is fast transforming because of increasing concerns over data privacy, cloud computing is disrupting traditional business models, increasing transportation and logistics costs, digital marketing is dominated by two big players Facebook and Google, competitive advantages are harder to sustain because of technology dispersion,
wage bills are increasing, central banks are concerned over increasing inflation, etc
Introduction to SWOT Analysis of Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Multicultural Abilities, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Multicultural Abilities 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers can be done for the following purposes –
1. Strategic planning using facts provided in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers case study
2. Improving business portfolio management of Multicultural Abilities
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 Multicultural Abilities
Strengths Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Multicultural Abilities in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers Harvard Business Review case study are -
High brand equity
– Multicultural Abilities has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Multicultural Abilities to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to recruit top talent
– Multicultural Abilities is one of the leading recruiters in the industry. Managers in the Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– Multicultural Abilities has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Multicultural Abilities 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
– Multicultural Abilities has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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.
Digital Transformation in Leadership & Managing People segment
- digital transformation varies from industry to industry. For Multicultural Abilities digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Multicultural Abilities 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.
Sustainable margins compare to other players in Leadership & Managing People industry
– Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers firm has clearly differentiated products in the market place. This has enabled Multicultural Abilities to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Multicultural Abilities to invest into research and development (R&D) and innovation.
Strong track record of project management
– Multicultural Abilities is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Cross disciplinary teams
– Horizontal connected teams at the Multicultural Abilities 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 Multicultural Abilities in the sector have low bargaining power. Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Multicultural Abilities to manage not only supply disruptions but also source products at highly competitive prices.
Ability to lead change in Leadership & Managing People field
– Multicultural Abilities 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 Multicultural Abilities in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Innovation driven organization
– Multicultural Abilities is one of the most innovative firm in sector. Manager in Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Organizational Resilience of Multicultural Abilities
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Multicultural Abilities does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers are -
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Multicultural Abilities is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
No frontier risks strategy
– After analyzing the HBR case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers, 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.
Need for greater diversity
– Multicultural Abilities 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.
Lack of clear differentiation of Multicultural Abilities products
– To increase the profitability and margins on the products, Multicultural Abilities needs to provide more differentiated products than what it is currently offering in the marketplace.
Low market penetration in new markets
– Outside its home market of Multicultural Abilities, firm in the HBR case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers, it seems that the employees of Multicultural Abilities don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers, in the dynamic environment Multicultural Abilities has struggled to respond to the nimble upstart competition. Multicultural Abilities has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
Multicultural Abilities 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.
Increasing silos among functional specialists
– The organizational structure of Multicultural Abilities is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Multicultural Abilities needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Multicultural Abilities to focus more on services rather than just following the product oriented approach.
Slow decision making process
– As mentioned earlier in the report, Multicultural Abilities 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. Multicultural Abilities 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.
Slow to strategic competitive environment developments
– As Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers HBR case study mentions - Multicultural Abilities 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.
Opportunities Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers | 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers are -
Leveraging digital technologies
– Multicultural Abilities 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.
Learning at scale
– Online learning technologies has now opened space for Multicultural Abilities 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
– Multicultural Abilities 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Multicultural Abilities is facing challenges because of the dominance of functional experts in the organization. Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Multicultural Abilities can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Multicultural Abilities 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.
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 Multicultural Abilities in the consumer business. Now Multicultural Abilities can target international markets with far fewer capital restrictions requirements than the existing system.
Better consumer reach
– The expansion of the 5G network will help Multicultural Abilities to increase its market reach. Multicultural Abilities will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
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. Multicultural Abilities 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. Multicultural Abilities 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.
Buying journey improvements
– Multicultural Abilities can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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.
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 Multicultural Abilities 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Multicultural Abilities 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, Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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. Multicultural Abilities can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Threats Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers are -
High dependence on third party suppliers
– Multicultural Abilities 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Multicultural Abilities with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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. Multicultural Abilities can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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. Multicultural Abilities 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 Multicultural Abilities business can come under increasing regulations regarding data privacy, data security, etc.
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.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Multicultural Abilities will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
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 Multicultural Abilities in the Leadership & Managing People sector and impact the bottomline of the organization.
Technology acceleration in Forth Industrial Revolution
– Multicultural Abilities has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Multicultural Abilities 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.
Shortening product life cycle
– it is one of the major threat that Multicultural Abilities is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Regulatory challenges
– Multicultural Abilities 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 Multicultural Abilities.
Stagnating economy with rate increase
– Multicultural Abilities 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.
Weighted SWOT Analysis of Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers 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 Multicultural Abilities needs to make to build a sustainable competitive advantage.
Feel free to connect with us if you need business research.
You can download Excel Template of Case Study Solution & Analysis of Cultural Competence: Why it Matters and How You Can Acquire It: Multicultural Managers
