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 – digital marketing is dominated by two big players Facebook and Google, increasing household debt because of falling income levels, wage bills are increasing, technology disruption, talent flight as more people leaving formal jobs, increasing transportation and logistics costs, customer relationship management is fast transforming because of increasing concerns over data privacy,
banking and financial system is disrupted by Bitcoin and other crypto currencies, competitive advantages are harder to sustain because of technology dispersion, 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 -
Innovation driven organization
– Tribhovandas Bhimji Zaveri is one of the most innovative firm in Retail (Specialty) sector.
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.
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.
Digital Transformation in Retail (Specialty) industry
- digital transformation varies from industry to industry. For Tribhovandas Bhimji Zaveri digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Tribhovandas Bhimji Zaveri has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
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.
Cross disciplinary teams
– Horizontal connected teams at the Tribhovandas Bhimji Zaveri 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.
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.
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.
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.
Highly skilled collaborators
– Tribhovandas Bhimji Zaveri has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Retail (Specialty) industry. Secondly the value chain collaborators of Tribhovandas Bhimji Zaveri have helped the firm to develop new products and bring them quickly to the marketplace.
Training and development
– Tribhovandas Bhimji Zaveri has one of the best training and development program in Services industry. The effectiveness of the training programs can be measured in – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
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.
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 -
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.
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.
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.
Employees’ less understanding of Tribhovandas Bhimji Zaveri strategy
– From the outside it seems that the employees of Tribhovandas Bhimji Zaveri 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 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.
Lack of clear differentiation of Tribhovandas Bhimji Zaveri products
– To increase the profitability and margins on the products, Tribhovandas Bhimji Zaveri needs to provide more differentiated products than what it is currently offering in the marketplace.
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.
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.
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.
Aligning sales with marketing
– From the outside it seems that Tribhovandas Bhimji Zaveri needs to have more collaboration between its sales team and marketing team. Sales professionals in the Retail (Specialty) industry have deep experience in developing customer relationships. Marketing department at Tribhovandas Bhimji Zaveri can leverage the sales team experience to cultivate customer relationships as Tribhovandas Bhimji Zaveri is planning to shift buying processes online.
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.
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 -
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.
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.
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.
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.
Use of Bitcoin and other crypto currencies for transactions in Retail (Specialty) industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Tribhovandas Bhimji Zaveri in the Retail (Specialty) industry. Now Tribhovandas Bhimji Zaveri can target international markets with far fewer capital restrictions requirements than the existing system.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Tribhovandas Bhimji Zaveri can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
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.
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.
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.
Better consumer reach
– The expansion of the 5G network will help Tribhovandas Bhimji Zaveri to increase its market reach. Tribhovandas Bhimji Zaveri 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.
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.
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.
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 -
Technology acceleration in Forth Industrial Revolution
– Tribhovandas Bhimji Zaveri has witnessed rapid integration of technology during Covid-19 in the Retail (Specialty) industry. As one of the leading players in the industry, Tribhovandas Bhimji Zaveri needs to keep up with the evolution of technology in the Retail (Specialty) 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.
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.
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Tribhovandas Bhimji Zaveri can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate Tribhovandas Bhimji Zaveri prominent markets.
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.
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.
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.
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.
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.
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.
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.