Discuss about the Business Research Methodology for Stroz Friedberg Company.
Critical Success Factors in the Digital Forensics Industry
Cloud control is a critical success in the digital forensic industry. The reason behind this is the fact that digital forensic companies are employing cloud computing technologies to meet the increase in the data flow. The increase in the data flow is because the data is stored and spread digitally. As there is an increase in the demand for the services that these industries offer, it means that the amount of data the companies deal with. At Stroz Friedberg Consulting firm, they deal with a lot of legal cases which demands that they sift through huge volumes of electronic data. Research reveals that by 2003, the world was already generating close to five exabytes of data which is equivalent to five billion gigabytes within a single year. Three years later when the IDC which is a technological research firm conducted an analysis, they discovered that the rate had gone up to one hundred and sixty-one Exabyte per year.
Digital forensic companies are also facing the challenge of not meeting the expectations of their clientele. That is, these companies fail to match the technology that the criminals are using. Evidence that backs up this concern is the fact that there is an increase in cyber-crime all over the world. Moreover, the magnitudes for storage has also increased as the digital forensic companies are dealing with multitudes of data evidence. Competition is also a critical success factor in the digital forensic industry. When Stroz Friedberg was starting up, there was extreme competition for the opportunity that Stroz and Friedberg discovered. Increased competition means that there is increased rate of substitution.
Stroz Friedberg’s Competitive Strengths and Weaknesses
Stroz Friedberg as a company can generate strength from its existing sales and distribution networks. The company is well established over the years through growth and expansion strategies (see Exhibit 1). For instance, the company acquired the Connecticut-based Docuity which was a company that focused on the provision of technology solutions based on e-discovery. This acquisition was strategic owing to the commoditized nature of the platforms belonging to e-discovery. There were numerous acquisitions afterward such as the Data Genetics International which means that the company’s networks are firm and far-reaching. It is a strength because it ensures that the organization’s customer base is sturdy ensuring that it can generate ample profits. Another strength that the organization has is that its industry faces numerous barriers to entry which results in fewer competitors. Stroz Friedberg deals with the provision of risk management services which has a lot of pressure. With fewer people willing to join the industry, it means that the company can have a large market share.
The company’s source of weakness could be in the fact that they have poorly managed their growth. Scholars posit that when a company successfully reaches the growth phase, they should seek to manage the growth using entrepreneurship, risk-taking and autonomy. That will increase the level of creativity in the way the organization handles itself. This aspect lacks in the company’s profile which affects its profitability. Increased substitution rate will reduce the profit margin of the company. The tax structure imposed on this organization is also a weakness. It is stiff and demanding which results in increased operational costs.
Stroz and Friedberg’s growing pains came from the organization of the company. It had grown and expanded faster that they had expected which resulted in the organization being a multisite company. Therefore, without proper coordination of these entities, there will be confusion that could have devastating effects on the company. The roles and responsibilities of the people at Stroz and Friedberg were evolving, and that left many of them confused. Meeting organizational objectives, thus, became more difficult. Organizational culture was also the other factor that was identified. Typically, an organization is always defined by the people it attracted as well as the work it does. For this organization, its work demands privacy which results in spotty communication among the members of the organization. For this reason, poor relationships are formed within the organization increasing the turnover rates of the company.
The company’s operational and business processes are inadequate when it comes to meeting organizational goals and objectives. The organizational review revealed that the company did not use goals, targets, and budgets effectively. These are the tools that the organizational leaders communicate their expectations to the entire organization. Without these elements, the workers cannot know what is expected of them and thus, they will underperform. The rapid growth of the company also resulted in the strain of Stroz Friedberg’s information technology infrastructure. That growth increased the amount of data that the company dealt with which means that without improvements of their communication technology, it will be impossible to meet these growing data needs.
The actions that the organization took to address the growing pains were partly inadequate because of the fact that these measures do not address the problems that the rapid growth of the company. As much as the company has targets and objectives, these tools are being underused. The company is unable to meet the needs that the rapid expansion has created.
The disagreement about the FY2010 financial goals should be settled by establishing a compromise. Both of them have targets that are reasonable and realistic. Since they cannot agree by themselves, a third party’s contribution can be valuable. In this case, Lynch, who was the conductor of the organizational review, was the third party. He suggested a compromise where they would take eighty-five percent of the targets that each level of the organization provided. Lynch also assigned e-discovery targets by headcount. With this compromise, it was easy to come up with targets that met the requirements of the two. The proposed strategic plan promised a better economy, increased e-discovery capacity and also an improved EDG platform.
However, Stroz and Friedberg fail to plan for the future data management factor because that is the current source of stress of the organization. The company should focus towards embracing research and development which will keep the company up to date regarding the improvements in communication technology. That will ensure that the organization can have better data management capabilities. The research and development sector will boost the strategic position of the company thereby securing its future.
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