Blockchain case study 217
Having articulated the strategic business outcomes for IOSpeed, we will
now go through the next steps of the process.
Organisation analysis for strategy formulation
The first step for IOSpeed is to carry out a deep dive on the whole organ-
isation before it can start formulating the strategy. We have already gone
through various strategic models, strategy formulation, and execution in
Chapter 6. In this chapter, we will apply all the knowledge gained through-
out this book to analyse the organisation, formulate the strategy, and exe-
cute it to make IOSpeed gain a competitive advantage.
Organisation analysis
We will apply two strategic models to carry out the analysis of the organ-
isation and come up with findings needed to start the formulation of the
strategy for IOSpeed. We can apply more models as discussed in Chapter 6
to get more insights on the IOSpeed organisation.
Michael Porter’s five forces strategic model
Table 8.1 explains the five forces for IOSpeed to launch a blockchain-based
art marketplace online.
SWOT: strengths, weaknesses,
opportunities, and threats
Overview
SWOT is a strategic model to assess and analyse a company’s strengths, weak-
nesses, opportunities, and threats. We will apply the SWOT model on IOSpeed
organisation capability to get insights into strategy formulation for them.
This section will apply the SWOT model on IOSpeed.
Areas assessed by SWOT on IOSpeed
• Strengths: IOSpeed had a business and clientele who were passionate
about Art. Due to the pandemic and the lack of online presence, they
lost a few clients and the artists due to competitors. However, the fol-
lowing are some of the strengths of IOSpeed:
⚬
⚬IOSpeed has a good brand name and niche loyal clients
⚬
⚬They have niche at master pieces and artists creating them. This
differentiates them from competitors into similar products or
market
⚬
⚬IOSpeed had established an excellent leadership team to focus on
strategic transformation
⚬
⚬They have a board of directors and investor support