Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation
In this article, we consider crowdsourcing from the consumer perspective. Specifically, we examine the identity value (i.e., sense of self) that consumers accrue by participating in creative crowds. How can managers structure crowdsourcing initiatives to maximize value for participants through identity creation and expression? We strive to answer this question first by examining the different types of crowdsourcing initiatives from a value co-creation perspective. Then, we evaluate how consumers construct identities through consumption and review the literature on identity theory. Finally, we link the identity type-personal, extended, or social-to the management of crowdsourcing ventures and offer suggestions for practitioners.
Authors :: Ivan Fedorenko, Pierre R. Berthon, Tamara Rabinovich
Swot Analysis of "Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation" written by Ivan Fedorenko, Pierre R. Berthon, Tamara Rabinovich includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Crowdsourcing Identity facing as an external strategic factors. Some of the topics covered in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation case study are - Strategic Management Strategies, Growth strategy and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation casestudy better are - – there is increasing trade war between United States & China, geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy, challanges to central banks by blockchain based private currencies, central banks are concerned over increasing inflation, competitive advantages are harder to sustain because of technology dispersion, increasing transportation and logistics costs,
increasing energy prices, technology disruption, etc
Introduction to SWOT Analysis of Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Crowdsourcing Identity, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Crowdsourcing Identity 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation can be done for the following purposes –
1. Strategic planning using facts provided in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation case study
2. Improving business portfolio management of Crowdsourcing Identity
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 Crowdsourcing Identity
Strengths Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Crowdsourcing Identity in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation Harvard Business Review case study are -
Innovation driven organization
– Crowdsourcing Identity is one of the most innovative firm in sector. Manager in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Learning organization
- Crowdsourcing Identity 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 Crowdsourcing Identity is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Diverse revenue streams
– Crowdsourcing Identity is present in almost all the verticals within the industry. This has provided firm in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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.
Effective Research and Development (R&D)
– Crowdsourcing Identity 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High brand equity
– Crowdsourcing Identity has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Crowdsourcing Identity to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Training and development
– Crowdsourcing Identity has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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.
Highly skilled collaborators
– Crowdsourcing Identity 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Sustainable margins compare to other players in Leadership & Managing People industry
– Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation firm has clearly differentiated products in the market place. This has enabled Crowdsourcing Identity to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Crowdsourcing Identity to invest into research and development (R&D) and innovation.
Operational resilience
– The operational resilience strategy in the Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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.
Low bargaining power of suppliers
– Suppliers of Crowdsourcing Identity in the sector have low bargaining power. Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Crowdsourcing Identity to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Crowdsourcing Identity in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Ability to lead change in Leadership & Managing People field
– Crowdsourcing Identity 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 Crowdsourcing Identity in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Weaknesses Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation are -
High operating costs
– Compare to the competitors, firm in the HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowdsourcing Identity 's lucrative customers.
Interest costs
– Compare to the competition, Crowdsourcing Identity has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation, is just above the industry average. Crowdsourcing Identity needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Products dominated business model
– Even though Crowdsourcing Identity 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 - Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation should strive to include more intangible value offerings along with its core products and services.
Lack of clear differentiation of Crowdsourcing Identity products
– To increase the profitability and margins on the products, Crowdsourcing Identity needs to provide more differentiated products than what it is currently offering in the marketplace.
Need for greater diversity
– Crowdsourcing Identity 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.
Slow decision making process
– As mentioned earlier in the report, Crowdsourcing Identity 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. Crowdsourcing Identity 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.
Capital Spending Reduction
– Even during the low interest decade, Crowdsourcing Identity 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 Crowdsourcing Identity 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.
High cash cycle compare to competitors
Crowdsourcing Identity 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Crowdsourcing Identity 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.
Opportunities Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation | 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation are -
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Crowdsourcing Identity 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, Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Crowdsourcing Identity 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 Crowdsourcing Identity to hire the very best people irrespective of their geographical location.
Low interest rates
– Even though inflation is raising its head in most developed economies, Crowdsourcing Identity can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Using analytics as competitive advantage
– Crowdsourcing Identity 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Crowdsourcing Identity to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Manufacturing automation
– Crowdsourcing Identity 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.
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. Crowdsourcing Identity 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. Crowdsourcing Identity 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Crowdsourcing Identity can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of Crowdsourcing Identity has opened avenues for new revenue streams for the organization in the industry. This can help Crowdsourcing Identity to build a more holistic ecosystem as suggested in the Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation case study. Crowdsourcing Identity can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Crowdsourcing Identity 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 Crowdsourcing Identity in the consumer business. Now Crowdsourcing Identity can target international markets with far fewer capital restrictions requirements than the existing system.
Leveraging digital technologies
– Crowdsourcing Identity 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.
Developing new processes and practices
– Crowdsourcing Identity 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.
Better consumer reach
– The expansion of the 5G network will help Crowdsourcing Identity to increase its market reach. Crowdsourcing Identity 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.
Threats Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation are -
Shortening product life cycle
– it is one of the major threat that Crowdsourcing Identity is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Crowdsourcing Identity.
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.
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 Crowdsourcing Identity business can come under increasing regulations regarding data privacy, data security, etc.
Consumer confidence and its impact on Crowdsourcing Identity demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Crowdsourcing Identity in the Leadership & Managing People sector and impact the bottomline 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. Crowdsourcing Identity 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.
Regulatory challenges
– Crowdsourcing Identity 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Crowdsourcing Identity 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.
Technology acceleration in Forth Industrial Revolution
– Crowdsourcing Identity has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Crowdsourcing Identity 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.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Crowdsourcing Identity needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
High dependence on third party suppliers
– Crowdsourcing Identity 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.
Weighted SWOT Analysis of Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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 Crowdsourcing Identity needs to make to build a sustainable competitive advantage.
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