Voya Emerging Markets High Div Eq (IHD) SWOT Analysis / TOWS Matrix / MBA Resources
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for Voya Emerging Markets High Div Eq (United States)
Based on various researches at Oak Spring University , Voya Emerging Markets High Div Eq is operating in a macro-environment that has been destablized by – supply chains are disrupted by pandemic , banking and financial system is disrupted by Bitcoin and other crypto currencies, technology disruption, there is backlash against globalization, there is increasing trade war between United States & China, increasing commodity prices, wage bills are increasing,
customer relationship management is fast transforming because of increasing concerns over data privacy, challanges to central banks by blockchain based private currencies, etc
Introduction to SWOT Analysis of Voya Emerging Markets High Div Eq
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Voya Emerging Markets High Div Eq can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Voya Emerging Markets High Div Eq, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Voya Emerging Markets High Div Eq 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 Emerging Markets High Div Eq can be done for the following purposes –
1. Strategic planning of Voya Emerging Markets High Div Eq
2. Improving business portfolio management of Voya Emerging Markets High Div Eq
3. Assessing feasibility of the new initiative in United States
4. Making a sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Voya Emerging Markets High Div Eq
Strengths of Voya Emerging Markets High Div Eq | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Voya Emerging Markets High Div Eq are -
High switching costs
– The high switching costs that Voya Emerging Markets High Div Eq 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.
Effective Research and Development (R&D)
– Voya Emerging Markets High Div Eq has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Voya Emerging Markets High Div Eq staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Training and development
– Voya Emerging Markets High Div Eq has one of the best training and development program in 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.
Low bargaining power of suppliers
– Suppliers of Voya Emerging Markets High Div Eq in the sector have low bargaining power. Voya Emerging Markets High Div Eq has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Voya Emerging Markets High Div Eq to manage not only supply disruptions but also source products at highly competitive prices.
Superior customer experience
– The customer experience strategy of Voya Emerging Markets High Div Eq in industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Digital Transformation in industry
- digital transformation varies from industry to industry. For Voya Emerging Markets High Div Eq digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Voya Emerging Markets High Div Eq 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.
Sustainable margins compare to other players in industry
– Voya Emerging Markets High Div Eq has clearly differentiated products in the market place. This has enabled Voya Emerging Markets High Div Eq to fetch slight price premium compare to the competitors in the industry. The sustainable margins have also helped Voya Emerging Markets High Div Eq to invest into research and development (R&D) and innovation.
Diverse revenue streams
– Voya Emerging Markets High Div Eq is present in almost all the verticals within the industry. This has provided Voya Emerging Markets High Div Eq 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.
Organizational Resilience of Voya Emerging Markets High Div Eq
– The covid-19 pandemic has put organizational resilience at the centre of everthing Voya Emerging Markets High Div Eq does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Innovation driven organization
– Voya Emerging Markets High Div Eq is one of the most innovative firm in sector.
Ability to recruit top talent
– Voya Emerging Markets High Div Eq is one of the leading players in the 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.
Successful track record of launching new products
– Voya Emerging Markets High Div Eq has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Voya Emerging Markets High Div Eq 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 Voya Emerging Markets High Div Eq | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Voya Emerging Markets High Div Eq are -
Employees’ less understanding of Voya Emerging Markets High Div Eq strategy
– From the outside it seems that the employees of Voya Emerging Markets High Div Eq 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 Voya Emerging Markets High Div Eq ‘s star products
– The top 2 products and services of Voya Emerging Markets High Div Eq still accounts for major business revenue. This dependence on star products in industry has resulted into insufficient focus on developing new products, even though Voya Emerging Markets High Div Eq has relatively successful track record of launching new products.
Lack of clear differentiation of Voya Emerging Markets High Div Eq products
– To increase the profitability and margins on the products, Voya Emerging Markets High Div Eq needs to provide more differentiated products than what it is currently offering in the marketplace.
Capital Spending Reduction
– Even during the low interest decade, Voya Emerging Markets High Div Eq 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 industry using digital technology.
Products dominated business model
– Even though Voya Emerging Markets High Div Eq has some of the most successful models in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Voya Emerging Markets High Div Eq should strive to include more intangible value offerings along with its core products and services.
Ability to respond to the competition
– As the decision making is very deliberative at Voya Emerging Markets High Div Eq, in the dynamic environment of industry it has struggled to respond to the nimble upstart competition. Voya Emerging Markets High Div Eq has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
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 Voya Emerging Markets High Div Eq supply chain. Even after few cautionary changes, Voya Emerging Markets High Div Eq is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Voya Emerging Markets High Div Eq vulnerable to further global disruptions in South East Asia.
Slow to strategic competitive environment developments
– As Voya Emerging Markets High Div Eq is one of the leading players in the industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
High bargaining power of channel partners in industry
– because of the regulatory requirements in United States, Voya Emerging Markets High Div Eq 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 industry.
Increasing silos among functional specialists
– The organizational structure of Voya Emerging Markets High Div Eq is dominated by functional specialists. It is not different from other players in the industry, but Voya Emerging Markets High Div Eq needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Voya Emerging Markets High Div Eq to focus more on services in the industry rather than just following the product oriented approach.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Voya Emerging Markets High Div Eq is slow explore the new channels of communication. These new channels of communication can help Voya Emerging Markets High Div Eq to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Voya Emerging Markets High Div Eq Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Voya Emerging Markets High Div Eq are -
Buying journey improvements
– Voya Emerging Markets High Div Eq can improve the customer journey of consumers in the 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.
Leveraging digital technologies
– Voya Emerging Markets High Div Eq 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Voya Emerging Markets High Div Eq can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Creating value in data economy
– The success of analytics program of Voya Emerging Markets High Div Eq has opened avenues for new revenue streams for the organization in industry. This can help Voya Emerging Markets High Div Eq to build a more holistic ecosystem for Voya Emerging Markets High Div Eq products in the industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Voya Emerging Markets High Div Eq has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in sector. This continuous investment in analytics has enabled Voya Emerging Markets High Div Eq to build a competitive advantage using analytics. The analytics driven competitive advantage can help Voya Emerging Markets High Div Eq to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Building a culture of innovation
– managers at Voya Emerging Markets High Div Eq 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 industry.
Better consumer reach
– The expansion of the 5G network will help Voya Emerging Markets High Div Eq to increase its market reach. Voya Emerging Markets High Div Eq 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.
Use of Bitcoin and other crypto currencies for transactions in industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Voya Emerging Markets High Div Eq in the industry. Now Voya Emerging Markets High Div Eq can target international markets with far fewer capital restrictions requirements than the existing system.
Developing new processes and practices
– Voya Emerging Markets High Div Eq can develop new processes and procedures in 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.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Voya Emerging Markets High Div Eq 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 Emerging Markets High Div Eq to hire the very best people irrespective of their geographical location.
Manufacturing automation
– Voya Emerging Markets High Div Eq can use the latest technology developments to improve its manufacturing and designing process in 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.
Loyalty marketing
– Voya Emerging Markets High Div Eq 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Voya Emerging Markets High Div Eq 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 Voya Emerging Markets High Div Eq to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Threats Voya Emerging Markets High Div Eq External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Voya Emerging Markets High Div Eq are -
Environmental challenges
– Voya Emerging Markets High Div Eq 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. Voya Emerging Markets High Div Eq can take advantage of this fund but it will also bring new competitors in the industry.
Technology acceleration in Forth Industrial Revolution
– Voya Emerging Markets High Div Eq has witnessed rapid integration of technology during Covid-19 in the industry. As one of the leading players in the industry, Voya Emerging Markets High Div Eq needs to keep up with the evolution of technology in the 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Voya Emerging Markets High Div Eq 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 Emerging Markets High Div Eq prominent markets.
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 Voya Emerging Markets High Div Eq in the sector and impact the bottomline of the organization.
Easy access to finance
– Easy access to finance in industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Voya Emerging Markets High Div Eq can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Consumer confidence and its impact on Voya Emerging Markets High Div Eq 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 industry and other sectors.
Regulatory challenges
– Voya Emerging Markets High Div Eq 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 industry regulations.
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 Emerging Markets High Div Eq needs to understand the core reasons impacting the industry. This will help it in building a better workplace.
High dependence on third party suppliers
– Voya Emerging Markets High Div Eq 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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, Voya Emerging Markets High Div Eq may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of sector.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry to industry are lowering. It can presents Voya Emerging Markets High Div Eq with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Shortening product life cycle
– it is one of the major threat that Voya Emerging Markets High Div Eq is facing in sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of Voya Emerging Markets High Div Eq Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Voya Emerging Markets High Div Eq 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 Emerging Markets High Div Eq 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 Emerging Markets High Div Eq 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 Emerging Markets High Div Eq 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 Emerging Markets High Div Eq needs to make to build a sustainable competitive advantage.
