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Great Rich Tech (900290) SWOT Analysis / TOWS Matrix / MBA Resources

Introduction to SWOT Analysis

SWOT Analysis / TOWS Matrix for Great Rich Tech (South Korea)


Based on various researches at Oak Spring University , Great Rich Tech is operating in a macro-environment that has been destablized by – geopolitical disruptions, competitive advantages are harder to sustain because of technology dispersion, central banks are concerned over increasing inflation, increasing energy prices, technology disruption, increasing inequality as vast percentage of new income is going to the top 1%, increasing household debt because of falling income levels, supply chains are disrupted by pandemic , talent flight as more people leaving formal jobs, etc



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Introduction to SWOT Analysis of Great Rich Tech


SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Great Rich Tech can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Great Rich Tech, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Great Rich Tech 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 Great Rich Tech can be done for the following purposes –
1. Strategic planning of Great Rich Tech
2. Improving business portfolio management of Great Rich Tech
3. Assessing feasibility of the new initiative in South Korea
4. Making a Photography sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Great Rich Tech




Strengths of Great Rich Tech | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Great Rich Tech are -

Superior customer experience

– The customer experience strategy of Great Rich Tech in Photography industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Operational resilience

– The operational resilience strategy of Great Rich Tech comprises – understanding the underlying the factors in the Photography 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.

Ability to lead change in Photography

– Great Rich Tech is one of the leading players in the Photography industry in South Korea. Over the years it has not only transformed the business landscape in the Photography industry in South Korea but also across the existing markets. The ability to lead change has enabled Great Rich Tech in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

Organizational Resilience of Great Rich Tech

– The covid-19 pandemic has put organizational resilience at the centre of everthing Great Rich Tech does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.

Strong track record of project management in the Photography industry

– Great Rich Tech 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

– Great Rich Tech is one of the most innovative firm in Photography sector.

High brand equity

– Great Rich Tech has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Great Rich Tech to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Diverse revenue streams

– Great Rich Tech is present in almost all the verticals within the Photography industry. This has provided Great Rich Tech 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.

Training and development

– Great Rich Tech has one of the best training and development program in Consumer Cyclical 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.

Analytics focus

– Great Rich Tech 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 Photography industry. The technology infrastructure of South Korea 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.

Highly skilled collaborators

– Great Rich Tech has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Photography industry. Secondly the value chain collaborators of Great Rich Tech have helped the firm to develop new products and bring them quickly to the marketplace.

Sustainable margins compare to other players in Photography industry

– Great Rich Tech has clearly differentiated products in the market place. This has enabled Great Rich Tech to fetch slight price premium compare to the competitors in the Photography industry. The sustainable margins have also helped Great Rich Tech to invest into research and development (R&D) and innovation.






Weaknesses of Great Rich Tech | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Great Rich Tech are -

Employees’ less understanding of Great Rich Tech strategy

– From the outside it seems that the employees of Great Rich Tech 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.

Capital Spending Reduction

– Even during the low interest decade, Great Rich Tech has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the Photography industry using digital technology.

Aligning sales with marketing

– From the outside it seems that Great Rich Tech needs to have more collaboration between its sales team and marketing team. Sales professionals in the Photography industry have deep experience in developing customer relationships. Marketing department at Great Rich Tech can leverage the sales team experience to cultivate customer relationships as Great Rich Tech is planning to shift buying processes online.

Skills based hiring in Photography industry

– The stress on hiring functional specialists at Great Rich Tech 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.

Interest costs

– Compare to the competition, Great Rich Tech 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.

Ability to respond to the competition

– As the decision making is very deliberative at Great Rich Tech, in the dynamic environment of Photography industry it has struggled to respond to the nimble upstart competition. Great Rich Tech has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.

Need for greater diversity

– Great Rich Tech 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.

High operating costs

– Compare to the competitors, Great Rich Tech has high operating costs in the Photography industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Great Rich Tech lucrative customers.

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 Great Rich Tech supply chain. Even after few cautionary changes, Great Rich Tech is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Great Rich Tech vulnerable to further global disruptions in South East Asia.

Products dominated business model

– Even though Great Rich Tech has some of the most successful models in the Photography industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Great Rich Tech should strive to include more intangible value offerings along with its core products and services.

Increasing silos among functional specialists

– The organizational structure of Great Rich Tech is dominated by functional specialists. It is not different from other players in the Photography industry, but Great Rich Tech needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Great Rich Tech to focus more on services in the Photography industry rather than just following the product oriented approach.




Great Rich Tech Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The opportunities of Great Rich Tech are -

Use of Bitcoin and other crypto currencies for transactions in Photography industry

– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Great Rich Tech in the Photography industry. Now Great Rich Tech can target international markets with far fewer capital restrictions requirements than the existing system.

Lowering marketing communication costs

– 5G expansion will open new opportunities for Great Rich Tech in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Photography industry, and it will provide faster access to the consumers.

Loyalty marketing

– Great Rich Tech 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.

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. Great Rich Tech can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Increase in government spending

– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Great Rich Tech can use these opportunities to build new business models that can help the communities that Great Rich Tech operates in. Secondly it can use opportunities from government spending in Photography sector.

Reforming the budgeting process

- By establishing new metrics that will be used to evaluate both existing and potential projects Great Rich Tech can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Great Rich Tech 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 Great Rich Tech to hire the very best people irrespective of their geographical location.

Better consumer reach

– The expansion of the 5G network will help Great Rich Tech to increase its market reach. Great Rich Tech 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.

Learning at scale

– Online learning technologies has now opened space for Great Rich Tech 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.

Creating value in data economy

– The success of analytics program of Great Rich Tech has opened avenues for new revenue streams for the organization in Photography industry. This can help Great Rich Tech to build a more holistic ecosystem for Great Rich Tech products in the Photography industry by providing – data insight services, data privacy related products, data based consulting services, etc.

Redefining models of collaboration and team work

– As explained in the weaknesses section, Great Rich Tech is facing challenges because of the dominance of functional experts in the organization. Great Rich Tech can utilize new technology in the field of Photography industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.

Developing new processes and practices

– Great Rich Tech can develop new processes and procedures in Photography 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.

Building a culture of innovation

– managers at Great Rich Tech 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 Photography industry.




Threats Great Rich Tech External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The threats of Great Rich Tech are -

Increasing international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, Great Rich Tech 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 Great Rich Tech prominent markets.

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 Great Rich Tech.

Easy access to finance

– Easy access to finance in Photography industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Great Rich Tech can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

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. Great Rich Tech needs to understand the core reasons impacting the Photography industry. This will help it in building a better workplace.

Increasing wage structure of Great Rich Tech

– 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 Great Rich Tech.

Shortening product life cycle

– it is one of the major threat that Great Rich Tech is facing in Photography sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.

High dependence on third party suppliers

– Great Rich Tech 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.

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.

Learning curve for new practices

– As the technology based on artificial intelligence and machine learning platform is getting complex, Great Rich Tech may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Photography sector.

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 Great Rich Tech in the Photography sector and impact the bottomline of the organization.

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. Great Rich Tech 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.

Stagnating economy with rate increase

– Great Rich Tech 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 Photography industry.

Consumer confidence and its impact on Great Rich Tech 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 Photography industry and other sectors.




Weighted SWOT Analysis of Great Rich Tech Template, Example


Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Great Rich Tech 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 Great Rich Tech 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 Great Rich Tech 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 Great Rich Tech 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 Great Rich Tech needs to make to build a sustainable competitive advantage.



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