Voya Global Equity Divid Premium Op (IGD) SWOT Analysis / TOWS Matrix / MBA Resources
Misc. Financial Services
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for Voya Global Equity Divid Premium Op (United States)
Based on various researches at Oak Spring University , Voya Global Equity Divid Premium Op is operating in a macro-environment that has been destablized by – geopolitical disruptions, supply chains are disrupted by pandemic , wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion, technology disruption, cloud computing is disrupting traditional business models, increasing transportation and logistics costs,
challanges to central banks by blockchain based private currencies, increasing inequality as vast percentage of new income is going to the top 1%, etc
Introduction to SWOT Analysis of Voya Global Equity Divid Premium Op
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Voya Global Equity Divid Premium Op can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Voya Global Equity Divid Premium Op, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op can be done for the following purposes –
1. Strategic planning of Voya Global Equity Divid Premium Op
2. Improving business portfolio management of Voya Global Equity Divid Premium Op
3. Assessing feasibility of the new initiative in United States
4. Making a Misc. Financial Services sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Voya Global Equity Divid Premium Op
Strengths of Voya Global Equity Divid Premium Op | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Voya Global Equity Divid Premium Op are -
Successful track record of launching new products
– Voya Global Equity Divid Premium Op has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Voya Global Equity Divid Premium Op 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.
Learning organization
- Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Voya Global Equity Divid Premium Op emphasize – knowledge, initiative, and innovation.
Sustainable margins compare to other players in Misc. Financial Services industry
– Voya Global Equity Divid Premium Op has clearly differentiated products in the market place. This has enabled Voya Global Equity Divid Premium Op to fetch slight price premium compare to the competitors in the Misc. Financial Services industry. The sustainable margins have also helped Voya Global Equity Divid Premium Op to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Voya Global Equity Divid Premium Op in the Financial sector have low bargaining power. Voya Global Equity Divid Premium Op has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Voya Global Equity Divid Premium Op to manage not only supply disruptions but also source products at highly competitive prices.
Ability to recruit top talent
– Voya Global Equity Divid Premium Op is one of the leading players in the Misc. Financial Services 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.
Organizational Resilience of Voya Global Equity Divid Premium Op
– The covid-19 pandemic has put organizational resilience at the centre of everthing Voya Global Equity Divid Premium Op does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Effective Research and Development (R&D)
– Voya Global Equity Divid Premium Op has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Voya Global Equity Divid Premium Op staying ahead in the Misc. Financial Services industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Digital Transformation in Misc. Financial Services industry
- digital transformation varies from industry to industry. For Voya Global Equity Divid Premium Op digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op 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.
Innovation driven organization
– Voya Global Equity Divid Premium Op is one of the most innovative firm in Misc. Financial Services sector.
Ability to lead change in Misc. Financial Services
– Voya Global Equity Divid Premium Op is one of the leading players in the Misc. Financial Services industry in United States. Over the years it has not only transformed the business landscape in the Misc. Financial Services industry in United States but also across the existing markets. The ability to lead change has enabled Voya Global Equity Divid Premium Op in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
High brand equity
– Voya Global Equity Divid Premium Op has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Voya Global Equity Divid Premium Op to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Weaknesses of Voya Global Equity Divid Premium Op | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Voya Global Equity Divid Premium Op are -
High dependence on Voya Global Equity Divid Premium Op ‘s star products
– The top 2 products and services of Voya Global Equity Divid Premium Op still accounts for major business revenue. This dependence on star products in Misc. Financial Services industry has resulted into insufficient focus on developing new products, even though Voya Global Equity Divid Premium Op has relatively successful track record of launching new products.
Employees’ less understanding of Voya Global Equity Divid Premium Op strategy
– From the outside it seems that the employees of Voya Global Equity Divid Premium Op 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.
Need for greater diversity
– Voya Global Equity Divid Premium Op has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Interest costs
– Compare to the competition, Voya Global Equity Divid Premium Op 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.
Slow to strategic competitive environment developments
– As Voya Global Equity Divid Premium Op is one of the leading players in the Misc. Financial Services industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Misc. Financial Services industry in last five years.
Low market penetration in new markets
– Outside its home market of United States, Voya Global Equity Divid Premium Op needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Compensation and incentives
– The revenue per employee of Voya Global Equity Divid Premium Op is just above the Misc. Financial Services 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.
Lack of clear differentiation of Voya Global Equity Divid Premium Op products
– To increase the profitability and margins on the products, Voya Global Equity Divid Premium Op needs to provide more differentiated products than what it is currently offering in the marketplace.
High bargaining power of channel partners in Misc. Financial Services industry
– because of the regulatory requirements in United States, Voya Global Equity Divid Premium Op 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 Misc. Financial Services industry.
No frontier risks strategy
– From the 10K / annual statement of Voya Global Equity Divid Premium Op, it seems that company is thinking out the frontier risks that can impact Misc. Financial Services 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.
Increasing silos among functional specialists
– The organizational structure of Voya Global Equity Divid Premium Op is dominated by functional specialists. It is not different from other players in the Misc. Financial Services industry, but Voya Global Equity Divid Premium Op needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Voya Global Equity Divid Premium Op to focus more on services in the Misc. Financial Services industry rather than just following the product oriented approach.
Voya Global Equity Divid Premium Op Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Voya Global Equity Divid Premium Op are -
Building a culture of innovation
– managers at Voya Global Equity Divid Premium Op 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 Misc. Financial Services industry.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Voya Global Equity Divid Premium Op can use these opportunities to build new business models that can help the communities that Voya Global Equity Divid Premium Op operates in. Secondly it can use opportunities from government spending in Misc. Financial Services sector.
Learning at scale
– Online learning technologies has now opened space for Voya Global Equity Divid Premium Op 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.
Using analytics as competitive advantage
– Voya Global Equity Divid Premium Op has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Misc. Financial Services sector. This continuous investment in analytics has enabled Voya Global Equity Divid Premium Op to build a competitive advantage using analytics. The analytics driven competitive advantage can help Voya Global Equity Divid Premium Op to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Developing new processes and practices
– Voya Global Equity Divid Premium Op can develop new processes and procedures in Misc. Financial Services 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.
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 Voya Global Equity Divid Premium Op 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.
Changes in consumer behavior post Covid-19
– consumer behavior has changed in the Misc. Financial Services industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Voya Global Equity Divid Premium Op can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Voya Global Equity Divid Premium Op can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Use of Bitcoin and other crypto currencies for transactions in Misc. Financial Services industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Voya Global Equity Divid Premium Op in the Misc. Financial Services industry. Now Voya Global Equity Divid Premium Op can target international markets with far fewer capital restrictions requirements than the existing system.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op to hire the very best people irrespective of their geographical location.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Voya Global Equity Divid Premium Op is facing challenges because of the dominance of functional experts in the organization. Voya Global Equity Divid Premium Op can utilize new technology in the field of Misc. Financial Services industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Leveraging digital technologies
– Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op has opened avenues for new revenue streams for the organization in Misc. Financial Services industry. This can help Voya Global Equity Divid Premium Op to build a more holistic ecosystem for Voya Global Equity Divid Premium Op products in the Misc. Financial Services industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Better consumer reach
– The expansion of the 5G network will help Voya Global Equity Divid Premium Op to increase its market reach. Voya Global Equity Divid Premium Op 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.
Threats Voya Global Equity Divid Premium Op External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Voya Global Equity Divid Premium Op are -
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. Voya Global Equity Divid Premium Op needs to understand the core reasons impacting the Misc. Financial Services industry. This will help it in building a better workplace.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to Misc. Financial Services industry are lowering. It can presents Voya Global Equity Divid Premium Op with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Misc. Financial Services sector.
Increasing wage structure of Voya Global Equity Divid Premium Op
– 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 Voya Global Equity Divid Premium Op.
Easy access to finance
– Easy access to finance in Misc. Financial Services industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Voya Global Equity Divid Premium Op can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op prominent markets.
Shortening product life cycle
– it is one of the major threat that Voya Global Equity Divid Premium Op is facing in Misc. Financial Services sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Voya Global Equity Divid Premium Op in Misc. Financial Services industry. The Misc. Financial Services 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.
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. Voya Global Equity Divid Premium Op 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.
Technology acceleration in Forth Industrial Revolution
– Voya Global Equity Divid Premium Op has witnessed rapid integration of technology during Covid-19 in the Misc. Financial Services industry. As one of the leading players in the industry, Voya Global Equity Divid Premium Op needs to keep up with the evolution of technology in the Misc. Financial Services 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.
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.
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 Voya Global Equity Divid Premium Op 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, Voya Global Equity Divid Premium Op may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Misc. Financial Services sector.
Weighted SWOT Analysis of Voya Global Equity Divid Premium Op Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op 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 Voya Global Equity Divid Premium Op needs to make to build a sustainable competitive advantage.