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 – increasing inequality as vast percentage of new income is going to the top 1%, customer relationship management is fast transforming because of increasing concerns over data privacy, geopolitical disruptions, there is backlash against globalization, wage bills are increasing, talent flight as more people leaving formal jobs, cloud computing is disrupting traditional business models,
increasing commodity prices, there is increasing trade war between United States & China, 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 -
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.
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.
Diverse revenue streams
– Tribhovandas Bhimji Zaveri is present in almost all the verticals within the Retail (Specialty) industry. This has provided Tribhovandas Bhimji Zaveri 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.
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.
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.
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.
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.
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.
Superior customer experience
– The customer experience strategy of Tribhovandas Bhimji Zaveri in Retail (Specialty) industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
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.
Innovation driven organization
– Tribhovandas Bhimji Zaveri is one of the most innovative firm in Retail (Specialty) sector.
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 -
Increasing silos among functional specialists
– The organizational structure of Tribhovandas Bhimji Zaveri is dominated by functional specialists. It is not different from other players in the Retail (Specialty) industry, but Tribhovandas Bhimji Zaveri needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Tribhovandas Bhimji Zaveri to focus more on services in the Retail (Specialty) industry rather than just following the product oriented approach.
Interest costs
– Compare to the competition, Tribhovandas Bhimji Zaveri 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.
Need for greater diversity
– Tribhovandas Bhimji Zaveri 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.
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.
High bargaining power of channel partners in Retail (Specialty) industry
– because of the regulatory requirements in India, Tribhovandas Bhimji Zaveri 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 Retail (Specialty) industry.
Compensation and incentives
– The revenue per employee of Tribhovandas Bhimji Zaveri is just above the Retail (Specialty) industry average. It 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.
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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Tribhovandas Bhimji Zaveri is slow explore the new channels of communication. These new channels of communication can help Tribhovandas Bhimji Zaveri to provide better information regarding Retail (Specialty) products and services. It can also build an online community to further reach out to potential customers.
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.
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 operating costs
– Compare to the competitors, Tribhovandas Bhimji Zaveri has high operating costs in the Retail (Specialty) industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Tribhovandas Bhimji Zaveri lucrative customers.
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 -
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 Tribhovandas Bhimji Zaveri 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.
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.
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.
Creating value in data economy
– The success of analytics program of Tribhovandas Bhimji Zaveri has opened avenues for new revenue streams for the organization in Retail (Specialty) industry. This can help Tribhovandas Bhimji Zaveri to build a more holistic ecosystem for Tribhovandas Bhimji Zaveri products in the Retail (Specialty) industry by providing – data insight services, data privacy related products, data based consulting services, etc.
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.
Buying journey improvements
– Tribhovandas Bhimji Zaveri can improve the customer journey of consumers in the Retail (Specialty) industry by using analytics and artificial intelligence. It can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
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.
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.
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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Retail (Specialty) industry, but it has also influenced the consumer preferences. Tribhovandas Bhimji Zaveri can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Tribhovandas Bhimji Zaveri 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 Tribhovandas Bhimji Zaveri to hire the very best people irrespective of their geographical location.
Developing new processes and practices
– Tribhovandas Bhimji Zaveri can develop new processes and procedures in Retail (Specialty) 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.
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 -
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.
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
– 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.
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 Tribhovandas Bhimji Zaveri in the Retail (Specialty) sector and impact the bottomline of the organization.
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.
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.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Tribhovandas Bhimji Zaveri.
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.
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.
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.
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.
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.
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.
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.
