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 - – challanges to central banks by blockchain based private currencies, there is backlash against globalization, there is increasing trade war between United States & China, central banks are concerned over increasing inflation, wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion, increasing government debt because of Covid-19 spendings,
customer relationship management is fast transforming because of increasing concerns over data privacy, increasing household debt because of falling income levels, 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 -
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.
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.
Learning organization
- Wolf Gilbert 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 Wolf Gilbert is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
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.
Ability to recruit top talent
– Wolf Gilbert is one of the leading recruiters in the industry. Managers in the THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
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.
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.
Low bargaining power of suppliers
– Suppliers of Wolf Gilbert in the sector have low bargaining power. THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Wolf Gilbert to manage not only supply disruptions but also source products at highly competitive prices.
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.
Effective Research and Development (R&D)
– Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
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.
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.
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.
No frontier risks strategy
– After analyzing the HBR case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, 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.
Skills based hiring
– The stress on hiring functional specialists at Wolf Gilbert 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.
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.
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.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, it seems that the employees of Wolf Gilbert 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 THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY 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 Wolf Gilbert has relatively successful track record of launching new products.
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.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study THE WOLF MOVEMENT: DRIVING RESULTS THROUGH WOMEN AT BEST BUY, in the dynamic environment Wolf Gilbert has struggled to respond to the nimble upstart competition. Wolf Gilbert has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Capital Spending Reduction
– Even during the low interest decade, Wolf Gilbert 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.
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.
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 -
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.
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.
Manufacturing automation
– Wolf Gilbert 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.
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.
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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Wolf Gilbert 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.
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.
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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Wolf Gilbert 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.
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.
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.
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.
Building a culture of innovation
– managers at Wolf Gilbert 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 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 -
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.
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.
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 Wolf Gilbert in the Leadership & Managing People sector and impact the bottomline of the organization.
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 .
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.
Stagnating economy with rate increase
– Wolf Gilbert 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.
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.
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.
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 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.
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.
Regulatory challenges
– Wolf Gilbert 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.
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.
