Square McKinsey 7S Model
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.
Hard Elements in Square McKinsey 7S Model
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.
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.
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 for the long-term growth prospects of the financial services platform.
Square Inc. Report contains a full analysis of Square McKinsey 7S Model. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Ansoff Matrix and Value Chain analysis on Square. Moreover, the report contains analyses of Square leadership, business strategy organizational structure and organizational culture. The report also comprises discussions of Square marketing strategy, ecosystem and addresses issues of corporate social responsibility.