To Step Up as a Leader, You Need to Step Out: Redefining Your Job SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of To Step Up as a Leader, You Need to Step Out: Redefining Your Job
Most professionals aspiring to positions of greater responsibility have little time to map out a strategy for reaching their long-term career goals. But what made executives successful in the past does not guarantee their success in the future. In this article, the author of Act Like a Leader, Think Like a Leader discusses how executives can step up their leadership potential. The thoughtful approach consists of three core elements: making your day-to-day work more strategic; diversifying your network; and transforming your leadership style and identity. It may take some time until these activities become habits, but once the changes become internalized, your identity as a leader will be clear.
Swot Analysis of "To Step Up as a Leader, You Need to Step Out: Redefining Your Job" written by Herminia Ibarra includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Leader Step facing as an external strategic factors. Some of the topics covered in To Step Up as a Leader, You Need to Step Out: Redefining Your Job case study are - Strategic Management Strategies, and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the To Step Up as a Leader, You Need to Step Out: Redefining Your Job casestudy better are - – increasing government debt because of Covid-19 spendings, wage bills are increasing, increasing transportation and logistics costs, increasing household debt because of falling income levels, there is backlash against globalization, digital marketing is dominated by two big players Facebook and Google, technology disruption,
supply chains are disrupted by pandemic , geopolitical disruptions, etc
Introduction to SWOT Analysis of To Step Up as a Leader, You Need to Step Out: Redefining Your Job
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in To Step Up as a Leader, You Need to Step Out: Redefining Your Job case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Leader Step, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Leader Step 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job can be done for the following purposes –
1. Strategic planning using facts provided in To Step Up as a Leader, You Need to Step Out: Redefining Your Job case study
2. Improving business portfolio management of Leader Step
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 Leader Step
Strengths To Step Up as a Leader, You Need to Step Out: Redefining Your Job | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Leader Step in To Step Up as a Leader, You Need to Step Out: Redefining Your Job Harvard Business Review case study are -
Learning organization
- Leader Step 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 Leader Step is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in To Step Up as a Leader, You Need to Step Out: Redefining Your Job Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Organizational Resilience of Leader Step
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Leader Step does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Diverse revenue streams
– Leader Step is present in almost all the verticals within the industry. This has provided firm in To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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.
Cross disciplinary teams
– Horizontal connected teams at the Leader Step 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.
Analytics focus
– Leader Step 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 Herminia Ibarra can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Innovation driven organization
– Leader Step is one of the most innovative firm in sector. Manager in To Step Up as a Leader, You Need to Step Out: Redefining Your Job Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Strong track record of project management
– Leader Step is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High brand equity
– Leader Step has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Leader Step to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Low bargaining power of suppliers
– Suppliers of Leader Step in the sector have low bargaining power. To Step Up as a Leader, You Need to Step Out: Redefining Your Job has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Leader Step to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Leader Step 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.
Superior customer experience
– The customer experience strategy of Leader Step in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Effective Research and Development (R&D)
– Leader Step 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Weaknesses To Step Up as a Leader, You Need to Step Out: Redefining Your Job | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of To Step Up as a Leader, You Need to Step Out: Redefining Your Job are -
Products dominated business model
– Even though Leader Step 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 - To Step Up as a Leader, You Need to Step Out: Redefining Your Job should strive to include more intangible value offerings along with its core products and services.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Leader Step supply chain. Even after few cautionary changes mentioned in the HBR case study - To Step Up as a Leader, You Need to Step Out: Redefining Your Job, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Leader Step vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Leader Step is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job, it seems that the employees of Leader Step 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 Leader Step has relatively successful track record of launching new products.
Slow decision making process
– As mentioned earlier in the report, Leader Step 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. Leader Step 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
Leader Step 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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job, in the dynamic environment Leader Step has struggled to respond to the nimble upstart competition. Leader Step has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High bargaining power of channel partners
– Because of the regulatory requirements, Herminia Ibarra suggests that, Leader Step is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
High operating costs
– Compare to the competitors, firm in the HBR case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 Leader Step 's lucrative customers.
Need for greater diversity
– Leader Step 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.
Opportunities To Step Up as a Leader, You Need to Step Out: Redefining Your Job | 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job are -
Developing new processes and practices
– Leader Step 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Leader Step 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, To Step Up as a Leader, You Need to Step Out: Redefining Your Job, 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. Leader Step can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Buying journey improvements
– Leader Step can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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.
Better consumer reach
– The expansion of the 5G network will help Leader Step to increase its market reach. Leader Step 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Leader Step can use these opportunities to build new business models that can help the communities that Leader Step 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 Leader Step 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.
Loyalty marketing
– Leader Step 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.
Building a culture of innovation
– managers at Leader Step 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 Leader Step 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 Leader Step to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Leader Step 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Leader Step to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Leader Step 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
– Leader Step can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Threats To Step Up as a Leader, You Need to Step Out: Redefining Your Job External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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. Leader Step 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.
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 Leader Step business can come under increasing regulations regarding data privacy, data security, etc.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Leader Step with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Environmental challenges
– Leader Step 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. Leader Step can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Increasing wage structure of Leader Step
– 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 Leader Step.
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. Leader Step 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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study To Step Up as a Leader, You Need to Step Out: Redefining Your Job, Leader Step 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 .
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. Leader Step needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
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 Leader Step.
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.
Technology acceleration in Forth Industrial Revolution
– Leader Step has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Leader Step 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 Leader Step 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 To Step Up as a Leader, You Need to Step Out: Redefining Your Job 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 Leader Step needs to make to build a sustainable competitive advantage.