MIG Media Neurons Ltd (MIGM) SWOT Analysis / TOWS Matrix / MBA Resources
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for MIG Media Neurons Ltd (India)
Based on various researches at Oak Spring University , MIG Media Neurons Ltd is operating in a macro-environment that has been destablized by – geopolitical disruptions, challanges to central banks by blockchain based private currencies, there is increasing trade war between United States & China, competitive advantages are harder to sustain because of technology dispersion, wage bills are increasing, digital marketing is dominated by two big players Facebook and Google, banking and financial system is disrupted by Bitcoin and other crypto currencies,
supply chains are disrupted by pandemic , there is backlash against globalization, etc
Introduction to SWOT Analysis of MIG Media Neurons Ltd
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that MIG Media Neurons Ltd can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the MIG Media Neurons Ltd, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which MIG Media Neurons 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 MIG Media Neurons Ltd can be done for the following purposes –
1. Strategic planning of MIG Media Neurons Ltd
2. Improving business portfolio management of MIG Media Neurons Ltd
3. Assessing feasibility of the new initiative in India
4. Making a sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of MIG Media Neurons Ltd
Strengths of MIG Media Neurons Ltd | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of MIG Media Neurons Ltd are -
Successful track record of launching new products
– MIG Media Neurons Ltd has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. MIG Media Neurons 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.
Low bargaining power of suppliers
– Suppliers of MIG Media Neurons Ltd in the sector have low bargaining power. MIG Media Neurons Ltd has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps MIG Media Neurons Ltd to manage not only supply disruptions but also source products at highly competitive prices.
Highly skilled collaborators
– MIG Media Neurons Ltd has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive industry. Secondly the value chain collaborators of MIG Media Neurons Ltd have helped the firm to develop new products and bring them quickly to the marketplace.
Operational resilience
– The operational resilience strategy of MIG Media Neurons Ltd comprises – understanding the underlying the factors in the 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.
Strong track record of project management in the industry
– MIG Media Neurons 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.
Sustainable margins compare to other players in industry
– MIG Media Neurons Ltd has clearly differentiated products in the market place. This has enabled MIG Media Neurons Ltd to fetch slight price premium compare to the competitors in the industry. The sustainable margins have also helped MIG Media Neurons Ltd to invest into research and development (R&D) and innovation.
Effective Research and Development (R&D)
– MIG Media Neurons Ltd has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – MIG Media Neurons Ltd staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Ability to lead change in
– MIG Media Neurons Ltd is one of the leading players in the industry in India. Over the years it has not only transformed the business landscape in the industry in India but also across the existing markets. The ability to lead change has enabled MIG Media Neurons 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
– MIG Media Neurons Ltd has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled MIG Media Neurons Ltd to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Learning organization
- MIG Media Neurons Ltd 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 MIG Media Neurons Ltd is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at MIG Media Neurons Ltd emphasize – knowledge, initiative, and innovation.
Cross disciplinary teams
– Horizontal connected teams at the MIG Media Neurons Ltd 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 recruit top talent
– MIG Media Neurons Ltd is one of the leading players in the 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.
Weaknesses of MIG Media Neurons Ltd | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of MIG Media Neurons Ltd are -
High dependence on MIG Media Neurons Ltd ‘s star products
– The top 2 products and services of MIG Media Neurons Ltd still accounts for major business revenue. This dependence on star products in industry has resulted into insufficient focus on developing new products, even though MIG Media Neurons Ltd has relatively successful track record of launching new products.
Low market penetration in new markets
– Outside its home market of India, MIG Media Neurons Ltd needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Slow to strategic competitive environment developments
– As MIG Media Neurons Ltd is one of the leading players in the industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Aligning sales with marketing
– From the outside it seems that MIG Media Neurons Ltd needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department at MIG Media Neurons Ltd can leverage the sales team experience to cultivate customer relationships as MIG Media Neurons Ltd is planning to shift buying processes online.
No frontier risks strategy
– From the 10K / annual statement of MIG Media Neurons Ltd, it seems that company is thinking out the frontier risks that can impact 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.
Need for greater diversity
– MIG Media Neurons 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.
Compensation and incentives
– The revenue per employee of MIG Media Neurons Ltd is just above the 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 MIG Media Neurons Ltd has some of the most successful models in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. MIG Media Neurons Ltd should strive to include more intangible value offerings along with its core products and services.
Skills based hiring in industry
– The stress on hiring functional specialists at MIG Media Neurons 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.
Lack of clear differentiation of MIG Media Neurons Ltd products
– To increase the profitability and margins on the products, MIG Media Neurons Ltd needs to provide more differentiated products than what it is currently offering in the marketplace.
Increasing silos among functional specialists
– The organizational structure of MIG Media Neurons Ltd is dominated by functional specialists. It is not different from other players in the industry, but MIG Media Neurons Ltd needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help MIG Media Neurons Ltd to focus more on services in the industry rather than just following the product oriented approach.
MIG Media Neurons Ltd Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of MIG Media Neurons Ltd are -
Better consumer reach
– The expansion of the 5G network will help MIG Media Neurons Ltd to increase its market reach. MIG Media Neurons 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.
Using analytics as competitive advantage
– MIG Media Neurons Ltd has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in sector. This continuous investment in analytics has enabled MIG Media Neurons Ltd to build a competitive advantage using analytics. The analytics driven competitive advantage can help MIG Media Neurons Ltd to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Creating value in data economy
– The success of analytics program of MIG Media Neurons Ltd has opened avenues for new revenue streams for the organization in industry. This can help MIG Media Neurons Ltd to build a more holistic ecosystem for MIG Media Neurons Ltd products in the industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Loyalty marketing
– MIG Media Neurons 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.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, MIG Media Neurons Ltd can use these opportunities to build new business models that can help the communities that MIG Media Neurons Ltd operates in. Secondly it can use opportunities from government spending in sector.
Leveraging digital technologies
– MIG Media Neurons Ltd 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, MIG Media Neurons Ltd 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, MIG Media Neurons Ltd is facing challenges because of the dominance of functional experts in the organization. MIG Media Neurons Ltd can utilize new technology in the field of industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Learning at scale
– Online learning technologies has now opened space for MIG Media Neurons 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.
Use of Bitcoin and other crypto currencies for transactions in industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for MIG Media Neurons Ltd in the industry. Now MIG Media Neurons Ltd can target international markets with far fewer capital restrictions requirements than the existing system.
Building a culture of innovation
– managers at MIG Media Neurons 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 industry.
Developing new processes and practices
– MIG Media Neurons Ltd can develop new processes and procedures in 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects MIG Media Neurons Ltd can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats MIG Media Neurons Ltd External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of MIG Media Neurons Ltd are -
Environmental challenges
– MIG Media Neurons 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. MIG Media Neurons Ltd can take advantage of this fund but it will also bring new competitors in the industry.
Shortening product life cycle
– it is one of the major threat that MIG Media Neurons Ltd is facing in sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, MIG Media Neurons Ltd may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of sector.
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.
Stagnating economy with rate increase
– MIG Media Neurons 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 industry.
Easy access to finance
– Easy access to finance in industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. MIG Media Neurons Ltd can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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 MIG Media Neurons Ltd.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to industry are lowering. It can presents MIG Media Neurons Ltd with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
High dependence on third party suppliers
– MIG Media Neurons Ltd 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.
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 MIG Media Neurons Ltd in the sector and impact the bottomline of the organization.
Consumer confidence and its impact on MIG Media Neurons 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 industry and other sectors.
Technology acceleration in Forth Industrial Revolution
– MIG Media Neurons Ltd has witnessed rapid integration of technology during Covid-19 in the industry. As one of the leading players in the industry, MIG Media Neurons Ltd needs to keep up with the evolution of technology in the 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.
Regulatory challenges
– MIG Media Neurons 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 industry regulations.
Weighted SWOT Analysis of MIG Media Neurons Ltd Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at MIG Media Neurons 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 MIG Media Neurons 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 MIG Media Neurons 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 MIG Media Neurons 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 MIG Media Neurons Ltd needs to make to build a sustainable competitive advantage.