SWOT Analysis: DuBois Financial Services (Essay Sample)

SWOT Analysis: DuBois Financial Services
Author
Institutional Affiliation
Class Name
Professor
Date
SWOT Analysis: DuBois Financial Services
SWOT Analysis
DuBois Financial services has a number of strengths. First, the company is under the able leadership of Cecilia DuBois who has vast experience not only in the Financial Advisor Division but also as a personal financial advisor. The other strength is the ability of the CEO to keep motivating the VCs using different forms of incentives such as free dinner. DuBois Financial services has another strength, in the form of a record stock market and a smart investment approach that are reported to boost and steer the company results in the right direction.
The company has also reported weaknesses that are hampering the progress and the full potential based on the mission and vision. For example, the Private Accounting Division and the Tax Services Division are reported to be negatively affected by the automation and simplified tax laws. The two departments could also be struggling with management issues. The team also lack a uniformity and agreement of progressive ideas. For example, DuBois’ idea to partner with Levy who heads the Rose Security for better data security services. The cooperation with the security firm could potential pave the way to utilize other technologies such as blockchain technology in the future.
The company should also seek ways to maximize on available opportunities to increase productivity. For example, the Financial Services have an opportunity to partner with Rose Security and will ensure there is data security, further preventing loss of information or access by third parties. Implementing a data security system will give the company a competitive advantage, meaning that customers will come from other firms because of the enhanced and customer-tailored services. There is also a consideration to introduce the Artificial Intelligence, which will help optimize the processes such as credit decisions and financial risk management.
One of the biggest threats is the negative public image after clients start perceiving the tax service and the private accounting department as failing in their duties. The decision to lay off workers under Lourdes is also a threat because the experienced workers are more likely to shift to other competitors in the same industry. The introduction of new technology also poses a risk for the business operations, especially if there is minimal or no staff training on how to use the technology. In this scenario, DuBois Financial Services will make losses in the short-term, and if the issue is not addressed, the losses in the long term might force the firm to exit the market.
Response to Case Study Questions
Questions
1. Which strategy is DuBois Financial Services presently using? Provide evidence.
DuBois is utilizing the reviews generation as a strategy to keep the financial services running. The firm is operating like other business entities that seek to generate more revenue, and therefore, DuBois's image and authority matters. This is why she is emphasizing recommendations and referrals for the purpose of getting sources with more qualified leads. DuBois however prefers the recommendations to be done face to face so that leaders in other departments can ask relevant questions. This strategy, therefore, becomes evident in the conference room.
2. Which internal factors are at play in this case, and why?
In this case, internal factors that push the CEO to change the course of action and intervention are the possible mismanagement in two departments that have not been performing well in the recent past. There is also a reluctance of some heads of department to embrace change. For example, Ricky seems to be comfortable with the current state of affairs and does not think change is necessary.
3. Which external factors are at play in this case, and why?
The financial services offered in the company have to respond effectively to external factors such as improved technology. The business is reported to seek ways to introduce AI software that will help in the automation of manual tasks. The business is reported to consider laying off some of the workers to reduce the financial burden. This move might be influenced by labor laws,
4. Using a BCG Matrix, weigh and rate the company divisions.
Financial Advisor division
* Cash-Cow: Once the AI technology is introduced, manual processing of tasks should be faced out for the generation of more profits.
* Dog: Manual processing of tasks has been replaced by automated services and therefore not worth investing in hiring.
* Question Mark: The division is operating fairly well yet to inspire others in attaining growth.
* Star: The division continued to generate positive reviews and outcomes and dominated the financial services.
Tax Services division
* Cash Cow – The once traditional tax services no longer fit in the competitive world and should be faced out.
* Dog – The services rendered in the division have become obsolete in their traditional sense, and therefore, the shift should be on automation.
* Question Mark – The tax services division is operating well in the planning and provision of services but mismanagement is still an issue.
* Star – The tax division is offering clients compliance and advisory services to meet the corporate obligations.
Private Accounting division
* Cash Cow – There are many workers in the division that are not generating profits and therefore, worth fac