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 - – challanges to central banks by blockchain based private currencies, there is increasing trade war between United States & China, cloud computing is disrupting traditional business models, increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization, digital marketing is dominated by two big players Facebook and Google, increasing commodity prices,
geopolitical disruptions, increasing government debt because of Covid-19 spendings, 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 -
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.
Ability to recruit top talent
– Crowdsourcing Identity is one of the leading recruiters in the industry. Managers in the Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
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.
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.
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.
Cross disciplinary teams
– Horizontal connected teams at the Crowdsourcing Identity 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 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.
Strong track record of project management
– Crowdsourcing Identity is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
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.
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.
Successful track record of launching new products
– Crowdsourcing Identity has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Crowdsourcing Identity 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.
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.
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 -
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.
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.
High bargaining power of channel partners
– Because of the regulatory requirements, Ivan Fedorenko, Pierre R. Berthon, Tamara Rabinovich suggests that, Crowdsourcing Identity 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 Crowdsourcing Identity is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Crowdsourcing Identity needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Crowdsourcing Identity to focus more on services rather than just following the product oriented approach.
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.
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.
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.
No frontier risks strategy
– After analyzing the HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation, 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.
Low market penetration in new markets
– Outside its home market of Crowdsourcing Identity, firm in the HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
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 -
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. Crowdsourcing Identity can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
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.
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.
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.
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 Crowdsourcing Identity 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.
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.
Loyalty marketing
– Crowdsourcing Identity 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.
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.
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.
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. Crowdsourcing Identity 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
– Crowdsourcing Identity can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation 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.
Building a culture of innovation
– managers at Crowdsourcing Identity 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.
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 -
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.
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.
Stagnating economy with rate increase
– Crowdsourcing Identity 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.
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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Crowdsourcing Identity with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Crowdsourcing Identity can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation .
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Crowded Identity: Managing Crowdsourcing Initiatives to Maximize Value for Participants through Identity Creation, Crowdsourcing Identity 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 .
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.
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. Crowdsourcing Identity can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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.
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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