Swot Analysis of ""Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane" written by Jennifer Weeks, Arnold Howitt, Dutch Leonard includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Hks713 Rescuing facing as an external strategic factors. Some of the topics covered in "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane case study are - Strategic Management Strategies, Decision making, Leadership, Organizational culture, Risk management and Leadership & Managing People.
Some of the macro environment factors that can be used to understand the "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane casestudy better are - – increasing commodity prices, increasing household debt because of falling income levels, supply chains are disrupted by pandemic , banking and financial system is disrupted by Bitcoin and other crypto currencies, talent flight as more people leaving formal jobs, wage bills are increasing, geopolitical disruptions,
increasing inequality as vast percentage of new income is going to the top 1%, increasing energy prices, etc
Introduction to SWOT Analysis of "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Hks713 Rescuing, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Hks713 Rescuing 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane can be done for the following purposes –
1. Strategic planning using facts provided in "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane case study
2. Improving business portfolio management of Hks713 Rescuing
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 Hks713 Rescuing
Strengths "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Hks713 Rescuing in "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane Harvard Business Review case study are -
Successful track record of launching new products
– Hks713 Rescuing has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Hks713 Rescuing 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.
Low bargaining power of suppliers
– Suppliers of Hks713 Rescuing in the sector have low bargaining power. "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Hks713 Rescuing to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Hks713 Rescuing 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
– "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane firm has clearly differentiated products in the market place. This has enabled Hks713 Rescuing to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Hks713 Rescuing to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Hks713 Rescuing 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High brand equity
– Hks713 Rescuing has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Hks713 Rescuing to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Analytics focus
– Hks713 Rescuing 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 Jennifer Weeks, Arnold Howitt, Dutch Leonard 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.
Ability to lead change in Leadership & Managing People field
– Hks713 Rescuing 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 Hks713 Rescuing in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Ability to recruit top talent
– Hks713 Rescuing is one of the leading recruiters in the industry. Managers in the "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Strong track record of project management
– Hks713 Rescuing is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High switching costs
– The high switching costs that Hks713 Rescuing 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.
Cross disciplinary teams
– Horizontal connected teams at the Hks713 Rescuing 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.
Weaknesses "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane are -
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane, it seems that the employees of Hks713 Rescuing 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.
Products dominated business model
– Even though Hks713 Rescuing 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 - "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane should strive to include more intangible value offerings along with its core products and services.
Increasing silos among functional specialists
– The organizational structure of Hks713 Rescuing is dominated by functional specialists. It is not different from other players in the Leadership & Managing People segment. Hks713 Rescuing needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Hks713 Rescuing to focus more on services rather than just following the product oriented approach.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Hks713 Rescuing is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane, in the dynamic environment Hks713 Rescuing has struggled to respond to the nimble upstart competition. Hks713 Rescuing has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Lack of clear differentiation of Hks713 Rescuing products
– To increase the profitability and margins on the products, Hks713 Rescuing needs to provide more differentiated products than what it is currently offering in the marketplace.
No frontier risks strategy
– After analyzing the HBR case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane, 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.
Slow decision making process
– As mentioned earlier in the report, Hks713 Rescuing 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. Hks713 Rescuing 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.
Skills based hiring
– The stress on hiring functional specialists at Hks713 Rescuing 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane, is just above the industry average. Hks713 Rescuing 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.
Slow to strategic competitive environment developments
– As "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane HBR case study mentions - Hks713 Rescuing takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Opportunities "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane | 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane are -
Better consumer reach
– The expansion of the 5G network will help Hks713 Rescuing to increase its market reach. Hks713 Rescuing 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.
Learning at scale
– Online learning technologies has now opened space for Hks713 Rescuing 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.
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. Hks713 Rescuing can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Manufacturing automation
– Hks713 Rescuing 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Hks713 Rescuing is facing challenges because of the dominance of functional experts in the organization. "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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.
Creating value in data economy
– The success of analytics program of Hks713 Rescuing has opened avenues for new revenue streams for the organization in the industry. This can help Hks713 Rescuing to build a more holistic ecosystem as suggested in the "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane case study. Hks713 Rescuing can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Hks713 Rescuing can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Hks713 Rescuing 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 Hks713 Rescuing to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Hks713 Rescuing 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.
Loyalty marketing
– Hks713 Rescuing 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.
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 Hks713 Rescuing 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.
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 Hks713 Rescuing in the consumer business. Now Hks713 Rescuing can target international markets with far fewer capital restrictions requirements than the existing system.
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. Hks713 Rescuing can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Threats "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane are -
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. Hks713 Rescuing needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Technology 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.
Environmental challenges
– Hks713 Rescuing 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. Hks713 Rescuing 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 Hks713 Rescuing 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.
Shortening product life cycle
– it is one of the major threat that Hks713 Rescuing is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Increasing wage structure of Hks713 Rescuing
– 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 Hks713 Rescuing.
High dependence on third party suppliers
– Hks713 Rescuing 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.
Regulatory challenges
– Hks713 Rescuing 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 Hks713 Rescuing 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 Hks713 Rescuing business can come under increasing regulations regarding data privacy, data security, etc.
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. Hks713 Rescuing 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 acceleration in Forth Industrial Revolution
– Hks713 Rescuing has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Hks713 Rescuing 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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 "Miracle on the Hudson" (B): Rescuing Passengers and Raising the Plane 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 Hks713 Rescuing needs to make to build a sustainable competitive advantage.
