Based on various researches at Oak Spring University , Cortland Bncp Crtld Ohio is operating in a macro-environment that has been destablized by – digital marketing is dominated by two big players Facebook and Google, cloud computing is disrupting traditional business models, challanges to central banks by blockchain based private currencies, increasing energy prices, increasing government debt because of Covid-19 spendings, banking and financial system is disrupted by Bitcoin and other crypto currencies, geopolitical disruptions,
wage bills are increasing, there is backlash against globalization, etc
Introduction to SWOT Analysis of Cortland Bncp Crtld Ohio
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Cortland Bncp Crtld Ohio can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Cortland Bncp Crtld Ohio, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio can be done for the following purposes –
1. Strategic planning of Cortland Bncp Crtld Ohio
2. Improving business portfolio management of Cortland Bncp Crtld Ohio
3. Assessing feasibility of the new initiative in United States
4. Making a Regional Banks sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Cortland Bncp Crtld Ohio
Strengths of Cortland Bncp Crtld Ohio | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Cortland Bncp Crtld Ohio are -
Sustainable margins compare to other players in Regional Banks industry
– Cortland Bncp Crtld Ohio has clearly differentiated products in the market place. This has enabled Cortland Bncp Crtld Ohio to fetch slight price premium compare to the competitors in the Regional Banks industry. The sustainable margins have also helped Cortland Bncp Crtld Ohio to invest into research and development (R&D) and innovation.
Diverse revenue streams
– Cortland Bncp Crtld Ohio is present in almost all the verticals within the Regional Banks industry. This has provided Cortland Bncp Crtld Ohio 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.
Innovation driven organization
– Cortland Bncp Crtld Ohio is one of the most innovative firm in Regional Banks sector.
Effective Research and Development (R&D)
– Cortland Bncp Crtld Ohio has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Cortland Bncp Crtld Ohio staying ahead in the Regional Banks industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
High switching costs
– The high switching costs that Cortland Bncp Crtld Ohio 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.
Digital Transformation in Regional Banks industry
- digital transformation varies from industry to industry. For Cortland Bncp Crtld Ohio digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Cortland Bncp Crtld Ohio 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.
Cross disciplinary teams
– Horizontal connected teams at the Cortland Bncp Crtld Ohio 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 Regional Banks
– Cortland Bncp Crtld Ohio is one of the leading players in the Regional Banks industry in United States. Over the years it has not only transformed the business landscape in the Regional Banks industry in United States but also across the existing markets. The ability to lead change has enabled Cortland Bncp Crtld Ohio in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Successful track record of launching new products
– Cortland Bncp Crtld Ohio has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Cortland Bncp Crtld Ohio 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.
Ability to recruit top talent
– Cortland Bncp Crtld Ohio is one of the leading players in the Regional Banks industry in United States. It is in a position to attract the best talent available in United States. The firm has a robust talent identification program that helps in identifying the brightest.
Low bargaining power of suppliers
– Suppliers of Cortland Bncp Crtld Ohio in the Financial sector have low bargaining power. Cortland Bncp Crtld Ohio has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Cortland Bncp Crtld Ohio to manage not only supply disruptions but also source products at highly competitive prices.
Organizational Resilience of Cortland Bncp Crtld Ohio
– The covid-19 pandemic has put organizational resilience at the centre of everthing Cortland Bncp Crtld Ohio does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses of Cortland Bncp Crtld Ohio | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Cortland Bncp Crtld Ohio are -
Workers concerns about automation
– As automation is fast increasing in the Regional Banks industry, Cortland Bncp Crtld Ohio 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.
Aligning sales with marketing
– From the outside it seems that Cortland Bncp Crtld Ohio needs to have more collaboration between its sales team and marketing team. Sales professionals in the Regional Banks industry have deep experience in developing customer relationships. Marketing department at Cortland Bncp Crtld Ohio can leverage the sales team experience to cultivate customer relationships as Cortland Bncp Crtld Ohio is planning to shift buying processes online.
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 Cortland Bncp Crtld Ohio supply chain. Even after few cautionary changes, Cortland Bncp Crtld Ohio is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Cortland Bncp Crtld Ohio vulnerable to further global disruptions in South East Asia.
High operating costs
– Compare to the competitors, Cortland Bncp Crtld Ohio has high operating costs in the Regional Banks industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Cortland Bncp Crtld Ohio lucrative customers.
High cash cycle compare to competitors
Cortland Bncp Crtld Ohio has a high cash cycle compare to other players in the Regional Banks industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Cortland Bncp Crtld Ohio is slow explore the new channels of communication. These new channels of communication can help Cortland Bncp Crtld Ohio to provide better information regarding Regional Banks products and services. It can also build an online community to further reach out to potential customers.
No frontier risks strategy
– From the 10K / annual statement of Cortland Bncp Crtld Ohio, it seems that company is thinking out the frontier risks that can impact Regional Banks 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.
Slow decision making process
– As mentioned earlier in the report, Cortland Bncp Crtld Ohio has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Regional Banks industry over the last five years. Cortland Bncp Crtld Ohio 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.
Capital Spending Reduction
– Even during the low interest decade, Cortland Bncp Crtld Ohio 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 Regional Banks industry using digital technology.
Increasing silos among functional specialists
– The organizational structure of Cortland Bncp Crtld Ohio is dominated by functional specialists. It is not different from other players in the Regional Banks industry, but Cortland Bncp Crtld Ohio needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Cortland Bncp Crtld Ohio to focus more on services in the Regional Banks industry rather than just following the product oriented approach.
Slow to strategic competitive environment developments
– As Cortland Bncp Crtld Ohio is one of the leading players in the Regional Banks industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Regional Banks industry in last five years.
Cortland Bncp Crtld Ohio Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Cortland Bncp Crtld Ohio are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Cortland Bncp Crtld Ohio can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Using analytics as competitive advantage
– Cortland Bncp Crtld Ohio has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Regional Banks sector. This continuous investment in analytics has enabled Cortland Bncp Crtld Ohio to build a competitive advantage using analytics. The analytics driven competitive advantage can help Cortland Bncp Crtld Ohio to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Low interest rates
– Even though inflation is raising its head in most developed economies, Cortland Bncp Crtld Ohio 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.
Learning at scale
– Online learning technologies has now opened space for Cortland Bncp Crtld Ohio 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.
Loyalty marketing
– Cortland Bncp Crtld Ohio 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.
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 Cortland Bncp Crtld Ohio 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.
Manufacturing automation
– Cortland Bncp Crtld Ohio can use the latest technology developments to improve its manufacturing and designing process in Regional Banks sector. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio to hire the very best people irrespective of their geographical location.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Cortland Bncp Crtld Ohio can use these opportunities to build new business models that can help the communities that Cortland Bncp Crtld Ohio operates in. Secondly it can use opportunities from government spending in Regional Banks sector.
Use of Bitcoin and other crypto currencies for transactions in Regional Banks industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Cortland Bncp Crtld Ohio in the Regional Banks industry. Now Cortland Bncp Crtld Ohio can target international markets with far fewer capital restrictions requirements than the existing system.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Cortland Bncp Crtld Ohio is facing challenges because of the dominance of functional experts in the organization. Cortland Bncp Crtld Ohio can utilize new technology in the field of Regional Banks industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Regional Banks industry, but it has also influenced the consumer preferences. Cortland Bncp Crtld Ohio can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Threats Cortland Bncp Crtld Ohio External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Cortland Bncp Crtld Ohio are -
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 Cortland Bncp Crtld Ohio in the Regional Banks sector and impact the bottomline of the organization.
High dependence on third party suppliers
– Cortland Bncp Crtld Ohio 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to Regional Banks industry are lowering. It can presents Cortland Bncp Crtld Ohio with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Regional Banks sector.
Consumer confidence and its impact on Cortland Bncp Crtld Ohio 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 Regional Banks industry and other sectors.
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 Cortland Bncp Crtld Ohio.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Shortening product life cycle
– it is one of the major threat that Cortland Bncp Crtld Ohio is facing in Regional Banks sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Environmental challenges
– Cortland Bncp Crtld Ohio 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. Cortland Bncp Crtld Ohio can take advantage of this fund but it will also bring new competitors in the Regional Banks industry.
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. Cortland Bncp Crtld Ohio 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.
Easy access to finance
– Easy access to finance in Regional Banks industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Cortland Bncp Crtld Ohio can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing wage structure of Cortland Bncp Crtld Ohio
– 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 Cortland Bncp Crtld Ohio.
Stagnating economy with rate increase
– Cortland Bncp Crtld Ohio 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 Regional Banks industry.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, Cortland Bncp Crtld Ohio may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Regional Banks sector.
Weighted SWOT Analysis of Cortland Bncp Crtld Ohio Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio 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 Cortland Bncp Crtld Ohio needs to make to build a sustainable competitive advantage.