Radaan Media Works India Ltd (RMIL) SWOT Analysis / TOWS Matrix / MBA Resources
Motion Pictures
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for Radaan Media Works India Ltd (India)
Based on various researches at Oak Spring University , Radaan Media Works India Ltd is operating in a macro-environment that has been destablized by – technology disruption, there is backlash against globalization, wage bills are increasing, increasing government debt because of Covid-19 spendings, increasing energy prices, central banks are concerned over increasing inflation, challanges to central banks by blockchain based private currencies,
supply chains are disrupted by pandemic , cloud computing is disrupting traditional business models, etc
Introduction to SWOT Analysis of Radaan Media Works India Ltd
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Radaan Media Works India Ltd can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Radaan Media Works India Ltd, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Radaan Media Works India Ltd 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 Radaan Media Works India Ltd can be done for the following purposes –
1. Strategic planning of Radaan Media Works India Ltd
2. Improving business portfolio management of Radaan Media Works India Ltd
3. Assessing feasibility of the new initiative in India
4. Making a Motion Pictures sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Radaan Media Works India Ltd
Strengths of Radaan Media Works India Ltd | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Radaan Media Works India Ltd are -
Superior customer experience
– The customer experience strategy of Radaan Media Works India Ltd in Motion Pictures industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Diverse revenue streams
– Radaan Media Works India Ltd is present in almost all the verticals within the Motion Pictures industry. This has provided Radaan Media Works India Ltd 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.
Ability to recruit top talent
– Radaan Media Works India Ltd is one of the leading players in the Motion Pictures 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 Motion Pictures
– Radaan Media Works India Ltd is one of the leading players in the Motion Pictures industry in India. Over the years it has not only transformed the business landscape in the Motion Pictures industry in India but also across the existing markets. The ability to lead change has enabled Radaan Media Works India Ltd in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High brand equity
– Radaan Media Works India Ltd has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Radaan Media Works India Ltd to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Training and development
– Radaan Media Works India Ltd 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.
Successful track record of launching new products
– Radaan Media Works India Ltd has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Radaan Media Works India Ltd 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 switching costs
– The high switching costs that Radaan Media Works India Ltd 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.
Strong track record of project management in the Motion Pictures industry
– Radaan Media Works India Ltd is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Innovation driven organization
– Radaan Media Works India Ltd is one of the most innovative firm in Motion Pictures sector.
Operational resilience
– The operational resilience strategy of Radaan Media Works India Ltd comprises – understanding the underlying the factors in the Motion Pictures 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.
Digital Transformation in Motion Pictures industry
- digital transformation varies from industry to industry. For Radaan Media Works India Ltd digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Radaan Media Works India Ltd 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.
Weaknesses of Radaan Media Works India Ltd | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Radaan Media Works India Ltd are -
Skills based hiring in Motion Pictures industry
– The stress on hiring functional specialists at Radaan Media Works India Ltd 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 Radaan Media Works India Ltd ‘s star products
– The top 2 products and services of Radaan Media Works India Ltd still accounts for major business revenue. This dependence on star products in Motion Pictures industry has resulted into insufficient focus on developing new products, even though Radaan Media Works India Ltd has relatively successful track record of launching new products.
Slow to strategic competitive environment developments
– As Radaan Media Works India Ltd is one of the leading players in the Motion Pictures industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Motion Pictures industry in last five years.
Workers concerns about automation
– As automation is fast increasing in the Motion Pictures industry, Radaan Media Works India Ltd 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.
Products dominated business model
– Even though Radaan Media Works India Ltd has some of the most successful models in the Motion Pictures industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Radaan Media Works India Ltd should strive to include more intangible value offerings along with its core products and services.
High bargaining power of channel partners in Motion Pictures industry
– because of the regulatory requirements in India, Radaan Media Works India Ltd 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 Motion Pictures industry.
Need for greater diversity
– Radaan Media Works India Ltd 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.
Increasing silos among functional specialists
– The organizational structure of Radaan Media Works India Ltd is dominated by functional specialists. It is not different from other players in the Motion Pictures industry, but Radaan Media Works India Ltd needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Radaan Media Works India Ltd to focus more on services in the Motion Pictures industry rather than just following the product oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative at Radaan Media Works India Ltd, in the dynamic environment of Motion Pictures industry it has struggled to respond to the nimble upstart competition. Radaan Media Works India Ltd has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
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 Radaan Media Works India Ltd supply chain. Even after few cautionary changes, Radaan Media Works India Ltd is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Radaan Media Works India Ltd vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Radaan Media Works India Ltd is slow explore the new channels of communication. These new channels of communication can help Radaan Media Works India Ltd to provide better information regarding Motion Pictures products and services. It can also build an online community to further reach out to potential customers.
Radaan Media Works India Ltd Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Radaan Media Works India Ltd are -
Building a culture of innovation
– managers at Radaan Media Works India Ltd 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 Motion Pictures industry.
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 Radaan Media Works India Ltd 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.
Learning at scale
– Online learning technologies has now opened space for Radaan Media Works India Ltd 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Radaan Media Works India Ltd can use these opportunities to build new business models that can help the communities that Radaan Media Works India Ltd operates in. Secondly it can use opportunities from government spending in Motion Pictures sector.
Loyalty marketing
– Radaan Media Works India Ltd 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Motion Pictures industry, but it has also influenced the consumer preferences. Radaan Media Works India Ltd can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Radaan Media Works India Ltd can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Use of Bitcoin and other crypto currencies for transactions in Motion Pictures industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Radaan Media Works India Ltd in the Motion Pictures industry. Now Radaan Media Works India Ltd can target international markets with far fewer capital restrictions requirements than the existing system.
Using analytics as competitive advantage
– Radaan Media Works India Ltd has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Motion Pictures sector. This continuous investment in analytics has enabled Radaan Media Works India Ltd to build a competitive advantage using analytics. The analytics driven competitive advantage can help Radaan Media Works India Ltd to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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. Radaan Media Works India Ltd can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Better consumer reach
– The expansion of the 5G network will help Radaan Media Works India Ltd to increase its market reach. Radaan Media Works India Ltd 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Radaan Media Works India Ltd in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Motion Pictures industry, and it will provide faster access to the consumers.
Creating value in data economy
– The success of analytics program of Radaan Media Works India Ltd has opened avenues for new revenue streams for the organization in Motion Pictures industry. This can help Radaan Media Works India Ltd to build a more holistic ecosystem for Radaan Media Works India Ltd products in the Motion Pictures industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Threats Radaan Media Works India Ltd External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Radaan Media Works India Ltd are -
Shortening product life cycle
– it is one of the major threat that Radaan Media Works India Ltd is facing in Motion Pictures sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Environmental challenges
– Radaan Media Works India Ltd 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. Radaan Media Works India Ltd can take advantage of this fund but it will also bring new competitors in the Motion Pictures industry.
Increasing wage structure of Radaan Media Works India Ltd
– 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 Radaan Media Works India Ltd.
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. Radaan Media Works India Ltd 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.
Regulatory challenges
– Radaan Media Works India Ltd 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 Motion Pictures industry regulations.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to Motion Pictures industry are lowering. It can presents Radaan Media Works India Ltd with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Motion Pictures sector.
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. Radaan Media Works India Ltd needs to understand the core reasons impacting the Motion Pictures industry. This will help it in building a better workplace.
Technology acceleration in Forth Industrial Revolution
– Radaan Media Works India Ltd has witnessed rapid integration of technology during Covid-19 in the Motion Pictures industry. As one of the leading players in the industry, Radaan Media Works India Ltd needs to keep up with the evolution of technology in the Motion Pictures 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.
Easy access to finance
– Easy access to finance in Motion Pictures industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Radaan Media Works India Ltd can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Radaan Media Works India Ltd 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 Motion Pictures industry and other sectors.
Stagnating economy with rate increase
– Radaan Media Works India Ltd 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 Motion Pictures industry.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Radaan Media Works India Ltd 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 Radaan Media Works India Ltd prominent markets.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Radaan Media Works India Ltd in Motion Pictures industry. The Motion Pictures 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.
Weighted SWOT Analysis of Radaan Media Works India Ltd Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Radaan Media Works India Ltd 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 Radaan Media Works India Ltd 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 Radaan Media Works India Ltd 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 Radaan Media Works India Ltd 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 Radaan Media Works India Ltd needs to make to build a sustainable competitive advantage.