THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Leadership & Managing People
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY
Julie Gilbert, senior vice president and founder of the Women's Leadership Forum (WOLF) movement at Best Buy was ready to leave the company to take the movement to the outside world. Over a period of four and a half years, WOLF@Best Buy became a vast network of thousands of employees and consumers who worked with individuals, brands, partners, stores and communities to help Best Buy build strong woman leaders and capture a greater share of the female consumer electronics market while at the same time contributing to the local community. WOLF, in its very architecture, was created by a visionary leader as a company reinvention strategy by transforming the company from the "inside out" with female employees and, at the same time, from the "outside in" with female consumers. Responsible leadership in the form of engaging a wider stakeholder group by Julie Gilbert was a major contributor to this initiative. The case shows how a woman in a leadership position has made a contribution to society at large by involving women to help at three levels: the individual, the company and the community. Students can discuss how driving a bottom-up change initiative through employee and consumer engagement not only helps a company but can also contribute to the community.
Swot Analysis of "THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY" written by Bettina Buechel includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Wolf Gilbert facing as an external strategic factors. Some of the topics covered in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY case study are - Strategic Management Strategies, Labor, Leadership, Organizational culture and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY casestudy better are - – there is increasing trade war between United States & China, there is backlash against globalization, increasing government debt because of Covid-19 spendings, competitive advantages are harder to sustain because of technology dispersion, geopolitical disruptions, increasing transportation and logistics costs, banking and financial system is disrupted by Bitcoin and other crypto currencies,
increasing inequality as vast percentage of new income is going to the top 1%, technology disruption, etc
Introduction to SWOT Analysis of THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Wolf Gilbert, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY can be done for the following purposes –
1. Strategic planning using facts provided in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY case study
2. Improving business portfolio management of Wolf Gilbert
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 Wolf Gilbert
Strengths THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Wolf Gilbert in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY Harvard Business Review case study are -
Superior customer experience
– The customer experience strategy of Wolf Gilbert in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Strong track record of project management
– Wolf Gilbert is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Analytics focus
– Wolf Gilbert 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 Bettina Buechel 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.
Successful track record of launching new products
– Wolf Gilbert has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Wolf Gilbert 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.
High switching costs
– The high switching costs that Wolf Gilbert 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.
High brand equity
– Wolf Gilbert has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Wolf Gilbert to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Innovation driven organization
– Wolf Gilbert is one of the most innovative firm in sector. Manager in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Diverse revenue streams
– Wolf Gilbert is present in almost all the verticals within the industry. This has provided firm in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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.
Operational resilience
– The operational resilience strategy in the THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 lead change in Leadership & Managing People field
– Wolf Gilbert 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 Wolf Gilbert in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Training and development
– Wolf Gilbert has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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
– Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Weaknesses THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY are -
Increasing silos among functional specialists
– The organizational structure of Wolf Gilbert is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Wolf Gilbert needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Wolf Gilbert to focus more on services rather than just following the product oriented approach.
Products dominated business model
– Even though Wolf Gilbert 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 - THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY should strive to include more intangible value offerings along with its core products and services.
Slow decision making process
– As mentioned earlier in the report, Wolf Gilbert 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. Wolf Gilbert 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 operating costs
– Compare to the competitors, firm in the HBR case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 Wolf Gilbert 's lucrative customers.
Interest costs
– Compare to the competition, Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, is just above the industry average. Wolf Gilbert 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.
Aligning sales with marketing
– It come across in the case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY can leverage the sales team experience to cultivate customer relationships as Wolf Gilbert is planning to shift buying processes online.
Lack of clear differentiation of Wolf Gilbert products
– To increase the profitability and margins on the products, Wolf Gilbert needs to provide more differentiated products than what it is currently offering in the marketplace.
Need for greater diversity
– Wolf Gilbert 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 bargaining power of channel partners
– Because of the regulatory requirements, Bettina Buechel suggests that, Wolf Gilbert 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Wolf Gilbert is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Opportunities THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY | 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY are -
Better consumer reach
– The expansion of the 5G network will help Wolf Gilbert to increase its market reach. Wolf Gilbert 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Wolf Gilbert can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Learning at scale
– Online learning technologies has now opened space for Wolf Gilbert 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.
Creating value in data economy
– The success of analytics program of Wolf Gilbert has opened avenues for new revenue streams for the organization in the industry. This can help Wolf Gilbert to build a more holistic ecosystem as suggested in the THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY case study. Wolf Gilbert can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Developing new processes and practices
– Wolf Gilbert 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.
Using analytics as competitive advantage
– Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Wolf Gilbert to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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 Wolf Gilbert to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Wolf Gilbert 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 Wolf Gilbert to hire the very best people irrespective of their geographical location.
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. Wolf Gilbert can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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 Wolf Gilbert in the consumer business. Now Wolf Gilbert can target international markets with far fewer capital restrictions requirements than the existing system.
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. Wolf Gilbert can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Wolf Gilbert is facing challenges because of the dominance of functional experts in the organization. THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Wolf Gilbert 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, THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Threats THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY are -
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. Wolf Gilbert needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Increasing wage structure of Wolf Gilbert
– 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 Wolf Gilbert.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Wolf Gilbert with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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 Wolf Gilbert business can come under increasing regulations regarding data privacy, data security, etc.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Wolf Gilbert 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.
High dependence on third party suppliers
– Wolf Gilbert high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Environmental challenges
– Wolf Gilbert 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. Wolf Gilbert can take advantage of this fund but it will also bring new competitors in the Leadership & Managing People industry.
Consumer confidence and its impact on Wolf Gilbert 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.
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. Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, Wolf Gilbert 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 .
Shortening product life cycle
– it is one of the major threat that Wolf Gilbert is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY .
Weighted SWOT Analysis of THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 Wolf Gilbert needs to make to build a sustainable competitive advantage.