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 – customer relationship management is fast transforming because of increasing concerns over data privacy, increasing government debt because of Covid-19 spendings, banking and financial system is disrupted by Bitcoin and other crypto currencies, digital marketing is dominated by two big players Facebook and Google, geopolitical disruptions, increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization,
cloud computing is disrupting traditional business models, talent flight as more people leaving formal jobs, 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 -
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.
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.
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.
Training and development
– DoverDowns Gaming&Entertainment has one of the best training and development program in Services 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Compensation and incentives
– The revenue per employee of DoverDowns Gaming&Entertainment is just above the Casinos & Gaming industry average. It needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
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.
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.
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.
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.
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.
Slow to strategic competitive environment developments
– As DoverDowns Gaming&Entertainment is one of the leading players in the Casinos & Gaming industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Casinos & Gaming industry in last five years.
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.
Lack of clear differentiation of DoverDowns Gaming&Entertainment products
– To increase the profitability and margins on the products, DoverDowns Gaming&Entertainment needs to provide more differentiated products than what it is currently offering in the marketplace.
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.
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 -
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.
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. DoverDowns Gaming&Entertainment can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
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 DoverDowns Gaming&Entertainment 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.
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.
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.
Developing new processes and practices
– DoverDowns Gaming&Entertainment can develop new processes and procedures in Casinos & Gaming 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.
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.
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.
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.
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.
Using analytics as competitive advantage
– DoverDowns Gaming&Entertainment has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Casinos & Gaming sector. This continuous investment in analytics has enabled DoverDowns Gaming&Entertainment to build a competitive advantage using analytics. The analytics driven competitive advantage can help DoverDowns Gaming&Entertainment to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
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.
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 -
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 DoverDowns Gaming&Entertainment.
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.
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.
Shortening product life cycle
– it is one of the major threat that DoverDowns Gaming&Entertainment is facing in Casinos & Gaming sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
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.
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.
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.
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.
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.
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.
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.
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.
