SWOT Analysis / TOWS Matrix for Tribhovandas Bhimji Zaveri (India)
Based on various researches at Oak Spring University , Tribhovandas Bhimji Zaveri is operating in a macro-environment that has been destablized by – banking and financial system is disrupted by Bitcoin and other crypto currencies, supply chains are disrupted by pandemic , digital marketing is dominated by two big players Facebook and Google, wage bills are increasing, challanges to central banks by blockchain based private currencies, technology disruption, there is backlash against globalization,
talent flight as more people leaving formal jobs, customer relationship management is fast transforming because of increasing concerns over data privacy, etc
Introduction to SWOT Analysis of Tribhovandas Bhimji Zaveri
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Tribhovandas Bhimji Zaveri can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Tribhovandas Bhimji Zaveri, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri can be done for the following purposes –
1. Strategic planning of Tribhovandas Bhimji Zaveri
2. Improving business portfolio management of Tribhovandas Bhimji Zaveri
3. Assessing feasibility of the new initiative in India
4. Making a Retail (Specialty) sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Tribhovandas Bhimji Zaveri
Strengths of Tribhovandas Bhimji Zaveri | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Tribhovandas Bhimji Zaveri are -
Organizational Resilience of Tribhovandas Bhimji Zaveri
– The covid-19 pandemic has put organizational resilience at the centre of everthing Tribhovandas Bhimji Zaveri does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Effective Research and Development (R&D)
– Tribhovandas Bhimji Zaveri has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Tribhovandas Bhimji Zaveri staying ahead in the Retail (Specialty) industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Operational resilience
– The operational resilience strategy of Tribhovandas Bhimji Zaveri comprises – understanding the underlying the factors in the Retail (Specialty) 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.
Analytics focus
– Tribhovandas Bhimji Zaveri 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 Retail (Specialty) industry. The technology infrastructure of India is also helping 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 recruit top talent
– Tribhovandas Bhimji Zaveri is one of the leading players in the Retail (Specialty) industry in India. It is in a position to attract the best talent available in India. The firm has a robust talent identification program that helps in identifying the brightest.
Learning organization
- Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Tribhovandas Bhimji Zaveri emphasize – knowledge, initiative, and innovation.
High switching costs
– The high switching costs that Tribhovandas Bhimji Zaveri 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.
Sustainable margins compare to other players in Retail (Specialty) industry
– Tribhovandas Bhimji Zaveri has clearly differentiated products in the market place. This has enabled Tribhovandas Bhimji Zaveri to fetch slight price premium compare to the competitors in the Retail (Specialty) industry. The sustainable margins have also helped Tribhovandas Bhimji Zaveri to invest into research and development (R&D) and innovation.
Successful track record of launching new products
– Tribhovandas Bhimji Zaveri has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Tribhovandas Bhimji Zaveri 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 brand equity
– Tribhovandas Bhimji Zaveri has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Tribhovandas Bhimji Zaveri to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Retail (Specialty)
– Tribhovandas Bhimji Zaveri is one of the leading players in the Retail (Specialty) industry in India. Over the years it has not only transformed the business landscape in the Retail (Specialty) industry in India but also across the existing markets. The ability to lead change has enabled Tribhovandas Bhimji Zaveri in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Low bargaining power of suppliers
– Suppliers of Tribhovandas Bhimji Zaveri in the Services sector have low bargaining power. Tribhovandas Bhimji Zaveri has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Tribhovandas Bhimji Zaveri to manage not only supply disruptions but also source products at highly competitive prices.
Weaknesses of Tribhovandas Bhimji Zaveri | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Tribhovandas Bhimji Zaveri are -
Skills based hiring in Retail (Specialty) industry
– The stress on hiring functional specialists at Tribhovandas Bhimji Zaveri has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
High dependence on Tribhovandas Bhimji Zaveri ‘s star products
– The top 2 products and services of Tribhovandas Bhimji Zaveri still accounts for major business revenue. This dependence on star products in Retail (Specialty) industry has resulted into insufficient focus on developing new products, even though Tribhovandas Bhimji Zaveri has relatively successful track record of launching new products.
Slow decision making process
– As mentioned earlier in the report, Tribhovandas Bhimji Zaveri has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Retail (Specialty) industry over the last five years. Tribhovandas Bhimji Zaveri 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 cash cycle compare to competitors
Tribhovandas Bhimji Zaveri has a high cash cycle compare to other players in the Retail (Specialty) industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
No frontier risks strategy
– From the 10K / annual statement of Tribhovandas Bhimji Zaveri, it seems that company is thinking out the frontier risks that can impact Retail (Specialty) industry. 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.
Products dominated business model
– Even though Tribhovandas Bhimji Zaveri has some of the most successful models in the Retail (Specialty) industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Tribhovandas Bhimji Zaveri should strive to include more intangible value offerings along with its core products and services.
Ability to respond to the competition
– As the decision making is very deliberative at Tribhovandas Bhimji Zaveri, in the dynamic environment of Retail (Specialty) industry it has struggled to respond to the nimble upstart competition. Tribhovandas Bhimji Zaveri has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Low market penetration in new markets
– Outside its home market of India, Tribhovandas Bhimji Zaveri needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Workers concerns about automation
– As automation is fast increasing in the Retail (Specialty) industry, Tribhovandas Bhimji Zaveri 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.
Slow to strategic competitive environment developments
– As Tribhovandas Bhimji Zaveri is one of the leading players in the Retail (Specialty) industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Retail (Specialty) industry in last five years.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Tribhovandas Bhimji Zaveri supply chain. Even after few cautionary changes, Tribhovandas Bhimji Zaveri is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Tribhovandas Bhimji Zaveri vulnerable to further global disruptions in South East Asia.
Tribhovandas Bhimji Zaveri Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Tribhovandas Bhimji Zaveri are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Tribhovandas Bhimji Zaveri can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Low interest rates
– Even though inflation is raising its head in most developed economies, Tribhovandas Bhimji Zaveri 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Tribhovandas Bhimji Zaveri in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Retail (Specialty) industry, and it will provide faster access to the consumers.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Tribhovandas Bhimji Zaveri can use these opportunities to build new business models that can help the communities that Tribhovandas Bhimji Zaveri operates in. Secondly it can use opportunities from government spending in Retail (Specialty) sector.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Manufacturing automation
– Tribhovandas Bhimji Zaveri can use the latest technology developments to improve its manufacturing and designing process in Retail (Specialty) sector. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Changes in consumer behavior post Covid-19
– consumer behavior has changed in the Retail (Specialty) industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Tribhovandas Bhimji Zaveri 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. Tribhovandas Bhimji Zaveri 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Tribhovandas Bhimji Zaveri is facing challenges because of the dominance of functional experts in the organization. Tribhovandas Bhimji Zaveri can utilize new technology in the field of Retail (Specialty) industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Building a culture of innovation
– managers at Tribhovandas Bhimji Zaveri 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 Retail (Specialty) industry.
Learning at scale
– Online learning technologies has now opened space for Tribhovandas Bhimji Zaveri 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.
Leveraging digital technologies
– Tribhovandas Bhimji Zaveri 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.
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. Tribhovandas Bhimji Zaveri can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Using analytics as competitive advantage
– Tribhovandas Bhimji Zaveri has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Retail (Specialty) sector. This continuous investment in analytics has enabled Tribhovandas Bhimji Zaveri to build a competitive advantage using analytics. The analytics driven competitive advantage can help Tribhovandas Bhimji Zaveri to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Threats Tribhovandas Bhimji Zaveri External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Tribhovandas Bhimji Zaveri are -
Stagnating economy with rate increase
– Tribhovandas Bhimji Zaveri 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 Retail (Specialty) 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. Tribhovandas Bhimji Zaveri 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.
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 Tribhovandas Bhimji Zaveri business can come under increasing regulations regarding data privacy, data security, etc.
Consumer confidence and its impact on Tribhovandas Bhimji Zaveri 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 Retail (Specialty) industry and other sectors.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, Tribhovandas Bhimji Zaveri may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Retail (Specialty) sector.
High dependence on third party suppliers
– Tribhovandas Bhimji Zaveri 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Tribhovandas Bhimji Zaveri in Retail (Specialty) industry. The Retail (Specialty) 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.
Increasing wage structure of Tribhovandas Bhimji Zaveri
– 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 Tribhovandas Bhimji Zaveri.
Easy access to finance
– Easy access to finance in Retail (Specialty) industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Tribhovandas Bhimji Zaveri can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Regulatory challenges
– Tribhovandas Bhimji Zaveri 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 Retail (Specialty) industry regulations.
Shortening product life cycle
– it is one of the major threat that Tribhovandas Bhimji Zaveri is facing in Retail (Specialty) sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Environmental challenges
– Tribhovandas Bhimji Zaveri 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. Tribhovandas Bhimji Zaveri can take advantage of this fund but it will also bring new competitors in the Retail (Specialty) industry.
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.
Weighted SWOT Analysis of Tribhovandas Bhimji Zaveri Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri needs to make to build a sustainable competitive advantage.