Nobility Homes (NOBH) SWOT Analysis / TOWS Matrix / MBA Resources

Introduction to SWOT Analysis

SWOT Analysis / TOWS Matrix for Nobility Homes (United States)

Based on various researches at Oak Spring University , Nobility Homes is operating in a macro-environment that has been destablized by – challanges to central banks by blockchain based private currencies, increasing transportation and logistics costs, cloud computing is disrupting traditional business models, wage bills are increasing, central banks are concerned over increasing inflation, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing inequality as vast percentage of new income is going to the top 1%, increasing household debt because of falling income levels, increasing commodity prices, etc

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Introduction to SWOT Analysis of Nobility Homes

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Nobility Homes can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Nobility Homes, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Nobility Homes 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 Nobility Homes can be done for the following purposes –
1. Strategic planning of Nobility Homes
2. Improving business portfolio management of Nobility Homes
3. Assessing feasibility of the new initiative in United States
4. Making a Mobile Homes & RVs sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Nobility Homes

Strengths of Nobility Homes | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Nobility Homes are -

Strong track record of project management in the Mobile Homes & RVs industry

– Nobility Homes is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.

Organizational Resilience of Nobility Homes

– The covid-19 pandemic has put organizational resilience at the centre of everthing Nobility Homes does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.

High switching costs

– The high switching costs that Nobility Homes 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 recruit top talent

– Nobility Homes is one of the leading players in the Mobile Homes & RVs 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 brand equity

– Nobility Homes has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Nobility Homes to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Successful track record of launching new products

– Nobility Homes has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Nobility Homes 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.

Analytics focus

– Nobility Homes 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 Mobile Homes & RVs 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.

Diverse revenue streams

– Nobility Homes is present in almost all the verticals within the Mobile Homes & RVs industry. This has provided Nobility Homes 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.

Learning organization

- Nobility Homes 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 Nobility Homes is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Nobility Homes emphasize – knowledge, initiative, and innovation.

Superior customer experience

– The customer experience strategy of Nobility Homes in Mobile Homes & RVs industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Sustainable margins compare to other players in Mobile Homes & RVs industry

– Nobility Homes has clearly differentiated products in the market place. This has enabled Nobility Homes to fetch slight price premium compare to the competitors in the Mobile Homes & RVs industry. The sustainable margins have also helped Nobility Homes to invest into research and development (R&D) and innovation.

Low bargaining power of suppliers

– Suppliers of Nobility Homes in the Capital Goods sector have low bargaining power. Nobility Homes has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Nobility Homes to manage not only supply disruptions but also source products at highly competitive prices.

Weaknesses of Nobility Homes | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Nobility Homes are -

Employees’ less understanding of Nobility Homes strategy

– From the outside it seems that the employees of Nobility Homes 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 Nobility Homes ‘s star products

– The top 2 products and services of Nobility Homes still accounts for major business revenue. This dependence on star products in Mobile Homes & RVs industry has resulted into insufficient focus on developing new products, even though Nobility Homes has relatively successful track record of launching new products.

Slow to strategic competitive environment developments

– As Nobility Homes is one of the leading players in the Mobile Homes & RVs industry, it takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the Mobile Homes & RVs industry in last five years.

Compensation and incentives

– The revenue per employee of Nobility Homes is just above the Mobile Homes & RVs 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.

Ability to respond to the competition

– As the decision making is very deliberative at Nobility Homes, in the dynamic environment of Mobile Homes & RVs industry it has struggled to respond to the nimble upstart competition. Nobility Homes has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.

Increasing silos among functional specialists

– The organizational structure of Nobility Homes is dominated by functional specialists. It is not different from other players in the Mobile Homes & RVs industry, but Nobility Homes needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Nobility Homes to focus more on services in the Mobile Homes & RVs industry rather than just following the product oriented approach.

Interest costs

– Compare to the competition, Nobility Homes has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.

High 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 Nobility Homes supply chain. Even after few cautionary changes, Nobility Homes is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Nobility Homes vulnerable to further global disruptions in South East Asia.

Lack of clear differentiation of Nobility Homes products

– To increase the profitability and margins on the products, Nobility Homes needs to provide more differentiated products than what it is currently offering in the marketplace.

High bargaining power of channel partners in Mobile Homes & RVs industry

– because of the regulatory requirements in United States, Nobility Homes 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 Mobile Homes & RVs industry.

Slow decision making process

– As mentioned earlier in the report, Nobility Homes has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Mobile Homes & RVs industry over the last five years. Nobility Homes even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.

Nobility Homes Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The opportunities of Nobility Homes are -

Low interest rates

– Even though inflation is raising its head in most developed economies, Nobility Homes 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.

Creating value in data economy

– The success of analytics program of Nobility Homes has opened avenues for new revenue streams for the organization in Mobile Homes & RVs industry. This can help Nobility Homes to build a more holistic ecosystem for Nobility Homes products in the Mobile Homes & RVs industry by providing – data insight services, data privacy related products, data based consulting services, etc.

Increase in government spending

– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Nobility Homes can use these opportunities to build new business models that can help the communities that Nobility Homes operates in. Secondly it can use opportunities from government spending in Mobile Homes & RVs sector.

Better consumer reach

– The expansion of the 5G network will help Nobility Homes to increase its market reach. Nobility Homes 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, Nobility Homes 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 Nobility Homes to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Mobile Homes & RVs industry, but it has also influenced the consumer preferences. Nobility Homes can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Changes in consumer behavior post Covid-19

– consumer behavior has changed in the Mobile Homes & RVs industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Nobility Homes 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. Nobility Homes 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.

Lowering marketing communication costs

– 5G expansion will open new opportunities for Nobility Homes in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Mobile Homes & RVs industry, and it will provide faster access to the consumers.

Loyalty marketing

– Nobility Homes 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.

Learning at scale

– Online learning technologies has now opened space for Nobility Homes 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.

Leveraging digital technologies

– Nobility Homes 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.

Redefining models of collaboration and team work

– As explained in the weaknesses section, Nobility Homes is facing challenges because of the dominance of functional experts in the organization. Nobility Homes can utilize new technology in the field of Mobile Homes & RVs industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.

Reforming the budgeting process

- By establishing new metrics that will be used to evaluate both existing and potential projects Nobility Homes can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.

Threats Nobility Homes External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats of Nobility Homes are -

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 Nobility Homes in the Mobile Homes & RVs sector and impact the bottomline of the organization.

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.

Shortening product life cycle

– it is one of the major threat that Nobility Homes is facing in Mobile Homes & RVs sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, 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. Nobility Homes 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.

Environmental challenges

– Nobility Homes 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. Nobility Homes can take advantage of this fund but it will also bring new competitors in the Mobile Homes & RVs industry.

Increasing wage structure of Nobility Homes

– 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 Nobility Homes.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Nobility Homes in Mobile Homes & RVs industry. The Mobile Homes & RVs 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.

Easy access to finance

– Easy access to finance in Mobile Homes & RVs industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Nobility Homes can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

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 Nobility Homes.

Regulatory challenges

– Nobility Homes 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 Mobile Homes & RVs industry regulations.

Consumer confidence and its impact on Nobility Homes 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 Mobile Homes & RVs industry and other sectors.

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.

Barriers of entry lowering

– As technology is more democratized, the barriers to entry to Mobile Homes & RVs industry are lowering. It can presents Nobility Homes with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the Mobile Homes & RVs sector.

Weighted SWOT Analysis of Nobility Homes Template, Example

Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Nobility Homes 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 Nobility Homes 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 Nobility Homes 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 Nobility Homes 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 Nobility Homes needs to make to build a sustainable competitive advantage.

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