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 – talent flight as more people leaving formal jobs, banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing transportation and logistics costs, cloud computing is disrupting traditional business models, challanges to central banks by blockchain based private currencies, increasing inequality as vast percentage of new income is going to the top 1%, wage bills are increasing,
supply chains are disrupted by pandemic , technology disruption, 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 -
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.
High brand equity
– DoverDowns Gaming&Entertainment has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled DoverDowns Gaming&Entertainment to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
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.
Effective Research and Development (R&D)
– DoverDowns Gaming&Entertainment has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – DoverDowns Gaming&Entertainment staying ahead in the Casinos & Gaming industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Superior customer experience
– The customer experience strategy of DoverDowns Gaming&Entertainment in Casinos & Gaming industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
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.
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.
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 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.
High switching costs
– The high switching costs that DoverDowns Gaming&Entertainment 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.
Analytics focus
– DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry. The technology infrastructure of United States 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.
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 -
High operating costs
– Compare to the competitors, DoverDowns Gaming&Entertainment has high operating costs in the Casinos & Gaming industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract DoverDowns Gaming&Entertainment lucrative customers.
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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, DoverDowns Gaming&Entertainment is slow explore the new channels of communication. These new channels of communication can help DoverDowns Gaming&Entertainment to provide better information regarding Casinos & Gaming products and services. It can also build an online community to further reach out to potential customers.
Capital Spending Reduction
– Even during the low interest decade, DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry using digital technology.
Increasing silos among functional specialists
– The organizational structure of DoverDowns Gaming&Entertainment is dominated by functional specialists. It is not different from other players in the Casinos & Gaming industry, but DoverDowns Gaming&Entertainment needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help DoverDowns Gaming&Entertainment to focus more on services in the Casinos & Gaming industry rather than just following the product oriented approach.
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.
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.
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.
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.
No frontier risks strategy
– From the 10K / annual statement of DoverDowns Gaming&Entertainment, it seems that company is thinking out the frontier risks that can impact Casinos & Gaming 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.
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.
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 -
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.
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.
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.
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.
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.
Learning at scale
– Online learning technologies has now opened space for DoverDowns Gaming&Entertainment 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.
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.
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.
Better consumer reach
– The expansion of the 5G network will help DoverDowns Gaming&Entertainment to increase its market reach. DoverDowns Gaming&Entertainment 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Casinos & Gaming industry, but it has also influenced the consumer preferences. DoverDowns Gaming&Entertainment can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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.
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 -
High dependence on third party suppliers
– DoverDowns Gaming&Entertainment 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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, DoverDowns Gaming&Entertainment may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Casinos & Gaming sector.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, DoverDowns Gaming&Entertainment 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 DoverDowns Gaming&Entertainment prominent markets.
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.
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.
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. DoverDowns Gaming&Entertainment 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.
Consumer confidence and its impact on DoverDowns Gaming&Entertainment 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 Casinos & Gaming industry and other sectors.
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.
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.
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.
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.
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.
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.