SWOT Analysis / TOWS Matrix for DoverDowns Gaming&Entertainment (United States)
Based on various researches at Oak Spring University , DoverDowns Gaming&Entertainment is operating in a macro-environment that has been destablized by – there is increasing trade war between United States & China, talent flight as more people leaving formal jobs, cloud computing is disrupting traditional business models, there is backlash against globalization, central banks are concerned over increasing inflation, increasing transportation and logistics costs, increasing commodity prices,
digital marketing is dominated by two big players Facebook and Google, increasing energy prices, etc
Introduction to SWOT Analysis of DoverDowns Gaming&Entertainment
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that DoverDowns Gaming&Entertainment can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the DoverDowns Gaming&Entertainment, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment can be done for the following purposes –
1. Strategic planning of DoverDowns Gaming&Entertainment
2. Improving business portfolio management of DoverDowns Gaming&Entertainment
3. Assessing feasibility of the new initiative in United States
4. Making a Casinos & Gaming sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of DoverDowns Gaming&Entertainment
Strengths of DoverDowns Gaming&Entertainment | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of DoverDowns Gaming&Entertainment are -
Diverse revenue streams
– DoverDowns Gaming&Entertainment is present in almost all the verticals within the Casinos & Gaming industry. This has provided DoverDowns Gaming&Entertainment 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.
Cross disciplinary teams
– Horizontal connected teams at the DoverDowns Gaming&Entertainment 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.
Organizational Resilience of DoverDowns Gaming&Entertainment
– The covid-19 pandemic has put organizational resilience at the centre of everthing DoverDowns Gaming&Entertainment does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Digital Transformation in Casinos & Gaming industry
- digital transformation varies from industry to industry. For DoverDowns Gaming&Entertainment digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. DoverDowns Gaming&Entertainment 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.
Strong track record of project management in the Casinos & Gaming industry
– DoverDowns Gaming&Entertainment is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Successful track record of launching new products
– DoverDowns Gaming&Entertainment has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. DoverDowns Gaming&Entertainment 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.
Highly skilled collaborators
– DoverDowns Gaming&Entertainment has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Casinos & Gaming industry. Secondly the value chain collaborators of DoverDowns Gaming&Entertainment have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to lead change in Casinos & Gaming
– DoverDowns Gaming&Entertainment is one of the leading players in the Casinos & Gaming industry in United States. Over the years it has not only transformed the business landscape in the Casinos & Gaming industry in United States but also across the existing markets. The ability to lead change has enabled DoverDowns Gaming&Entertainment in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Operational resilience
– The operational resilience strategy of DoverDowns Gaming&Entertainment comprises – understanding the underlying the factors in the Casinos & Gaming 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 recruit top talent
– DoverDowns Gaming&Entertainment is one of the leading players in the Casinos & Gaming 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.
Learning organization
- DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at DoverDowns Gaming&Entertainment emphasize – knowledge, initiative, and innovation.
Sustainable margins compare to other players in Casinos & Gaming industry
– DoverDowns Gaming&Entertainment has clearly differentiated products in the market place. This has enabled DoverDowns Gaming&Entertainment to fetch slight price premium compare to the competitors in the Casinos & Gaming industry. The sustainable margins have also helped DoverDowns Gaming&Entertainment to invest into research and development (R&D) and innovation.
Weaknesses of DoverDowns Gaming&Entertainment | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of DoverDowns Gaming&Entertainment are -
Interest costs
– Compare to the competition, DoverDowns Gaming&Entertainment has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
High bargaining power of channel partners in Casinos & Gaming industry
– because of the regulatory requirements in United States, DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry.
High dependence on DoverDowns Gaming&Entertainment ‘s star products
– The top 2 products and services of DoverDowns Gaming&Entertainment still accounts for major business revenue. This dependence on star products in Casinos & Gaming industry has resulted into insufficient focus on developing new products, even though DoverDowns Gaming&Entertainment has relatively successful track record of launching new products.
High cash cycle compare to competitors
DoverDowns Gaming&Entertainment has a high cash cycle compare to other players in the Casinos & Gaming industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Products dominated business model
– Even though DoverDowns Gaming&Entertainment has some of the most successful models in the Casinos & Gaming industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. DoverDowns Gaming&Entertainment should strive to include more intangible value offerings along with its core products and services.
Employees’ less understanding of DoverDowns Gaming&Entertainment strategy
– From the outside it seems that the employees of DoverDowns Gaming&Entertainment 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.
Workers concerns about automation
– As automation is fast increasing in the Casinos & Gaming industry, DoverDowns Gaming&Entertainment 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.
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 DoverDowns Gaming&Entertainment supply chain. Even after few cautionary changes, DoverDowns Gaming&Entertainment is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left DoverDowns Gaming&Entertainment vulnerable to further global disruptions in South East Asia.
Low market penetration in new markets
– Outside its home market of United States, DoverDowns Gaming&Entertainment needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Ability to respond to the competition
– As the decision making is very deliberative at DoverDowns Gaming&Entertainment, in the dynamic environment of Casinos & Gaming industry it has struggled to respond to the nimble upstart competition. DoverDowns Gaming&Entertainment has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Slow decision making process
– As mentioned earlier in the report, DoverDowns Gaming&Entertainment has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Casinos & Gaming industry over the last five years. DoverDowns Gaming&Entertainment 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.
DoverDowns Gaming&Entertainment Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of DoverDowns Gaming&Entertainment are -
Manufacturing automation
– DoverDowns Gaming&Entertainment can use the latest technology developments to improve its manufacturing and designing process in Casinos & Gaming 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.
Creating value in data economy
– The success of analytics program of DoverDowns Gaming&Entertainment has opened avenues for new revenue streams for the organization in Casinos & Gaming industry. This can help DoverDowns Gaming&Entertainment to build a more holistic ecosystem for DoverDowns Gaming&Entertainment products in the Casinos & Gaming industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Building a culture of innovation
– managers at DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– DoverDowns Gaming&Entertainment 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.
Buying journey improvements
– DoverDowns Gaming&Entertainment can improve the customer journey of consumers in the Casinos & Gaming industry by using analytics and artificial intelligence. It can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Loyalty marketing
– DoverDowns Gaming&Entertainment 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.
Lowering marketing communication costs
– 5G expansion will open new opportunities for DoverDowns Gaming&Entertainment in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Casinos & Gaming industry, and it will provide faster access to the consumers.
Low interest rates
– Even though inflation is raising its head in most developed economies, DoverDowns Gaming&Entertainment 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.
Use of Bitcoin and other crypto currencies for transactions in Casinos & Gaming industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for DoverDowns Gaming&Entertainment in the Casinos & Gaming industry. Now DoverDowns Gaming&Entertainment can target international markets with far fewer capital restrictions requirements than the existing system.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, DoverDowns Gaming&Entertainment can use these opportunities to build new business models that can help the communities that DoverDowns Gaming&Entertainment operates in. Secondly it can use opportunities from government spending in Casinos & Gaming sector.
Redefining models of collaboration and team work
– As explained in the weaknesses section, DoverDowns Gaming&Entertainment is facing challenges because of the dominance of functional experts in the organization. DoverDowns Gaming&Entertainment can utilize new technology in the field of Casinos & Gaming industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects DoverDowns Gaming&Entertainment can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Threats DoverDowns Gaming&Entertainment External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of DoverDowns Gaming&Entertainment are -
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to Casinos & Gaming industry are lowering. It can presents DoverDowns Gaming&Entertainment with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Casinos & Gaming sector.
Increasing wage structure of DoverDowns Gaming&Entertainment
– 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 DoverDowns Gaming&Entertainment.
Regulatory challenges
– DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry regulations.
Stagnating economy with rate increase
– DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry.
Technology acceleration in Forth Industrial Revolution
– DoverDowns Gaming&Entertainment has witnessed rapid integration of technology during Covid-19 in the Casinos & Gaming industry. As one of the leading players in the industry, DoverDowns Gaming&Entertainment needs to keep up with the evolution of technology in the Casinos & Gaming 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.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of DoverDowns Gaming&Entertainment business can come under increasing regulations regarding data privacy, data security, etc.
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. DoverDowns Gaming&Entertainment needs to understand the core reasons impacting the Casinos & Gaming industry. This will help it in building a better workplace.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Easy access to finance
– Easy access to finance in Casinos & Gaming industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. DoverDowns Gaming&Entertainment can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for DoverDowns Gaming&Entertainment in Casinos & Gaming industry. The Casinos & Gaming industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for DoverDowns Gaming&Entertainment in the Casinos & Gaming sector and impact the bottomline of the organization.
Environmental challenges
– DoverDowns Gaming&Entertainment 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. DoverDowns Gaming&Entertainment can take advantage of this fund but it will also bring new competitors in the Casinos & Gaming industry.
Weighted SWOT Analysis of DoverDowns Gaming&Entertainment Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment needs to make to build a sustainable competitive advantage.