Square McKinsey 7S model is intended to illustrate how seven elements of business can be aligned to increase effectiveness. The framework divides business elements into two groups – hard and soft. Strategy, structure and systems are considered hard elements, whereas shared values, skills, style and staff are soft elements. According to Square McKinsey 7S model, there is a strong link between elements and a change in one element causes changes in others. Moreover, shared values are the most important of elements because they cause influence other elements to a great extent. McKinsey 7S model Hard Elements in Square McKinsey 7S Model Strategy Square business strategy is based on principles of simplifying financial transactions and developing an ecosystem of financial products and services. The financial services platform has two types of ecosystem – seller ecosystem and cash ecosystem. Square systematically expands both ecosystems with addition of new financial products and services that simplify processes and challenge the status quo. Structure Square organizational structure is highly dynamic, reflecting the rapid expansion of the range of financial products and services offered by the finance sector disruptor. Although it is difficult to frame Square organizational culture into any category due to the complexity of the business, it is closer to flat organizational structure compared to known alternatives. Specifically, co-founder and CEO Jack Dorsey has very little tolerance for bureaucracy and formality in business processes. Moreover, Dorsey believes in providing independence to teams and maintain the team sizes small. All of these are reflected in Square organizational structure. Systems Square Inc. business operations depend on a wide range of systems. These include employee recruitment and selection system, team development and orientation system, transaction processing systems and others. Moreover, customer relationship management system, business intelligence system and knowledge management system is also important…Square McKinsey 7S Model
Wednesday, September 29, 2021
Research Methodology
Square McKinsey 7S model is intended to illustrate how seven elements of business can be aligned to increase effectiveness. The framework divides business elements into two groups – hard and soft. Strategy, structure and systems are considered hard elements, whereas shared values, skills, style and staff are soft elements. According to Square McKinsey 7S model, there is a strong link between elements and a change in one element causes changes in others. Moreover, shared values are the most important of elements because they cause influence other elements to a great extent. McKinsey 7S model Hard Elements in Square McKinsey 7S Model Strategy Square business strategy is based on principles of simplifying financial transactions and developing an ecosystem of financial products and services. The financial services platform has two types of ecosystem – seller ecosystem and cash ecosystem. Square systematically expands both ecosystems with addition of new financial products and services that simplify processes and challenge the status quo. Structure Square organizational structure is highly dynamic, reflecting the rapid expansion of the range of financial products and services offered by the finance sector disruptor. Although it is difficult to frame Square organizational culture into any category due to the complexity of the business, it is closer to flat organizational structure compared to known alternatives. Specifically, co-founder and CEO Jack Dorsey has very little tolerance for bureaucracy and formality in business processes. Moreover, Dorsey believes in providing independence to teams and maintain the team sizes small. All of these are reflected in Square organizational structure. Systems Square Inc. business operations depend on a wide range of systems. These include employee recruitment and selection system, team development and orientation system, transaction processing systems and others. Moreover, customer relationship management system, business intelligence system and knowledge management system is also important…
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