Harvard Case - Daimler - Betting on the Future of Mobility
"Daimler - Betting on the Future of Mobility" Harvard business case study is written by Jurgen Weiss. It deals with the challenges in the field of Business & Government Relations. The case study is 24 page(s) long and it was first published on : Jul 10, 2021
At Fern Fort University, we recommend that Daimler adopt a multi-pronged strategy to navigate the rapidly evolving automotive landscape. This strategy should prioritize a shift towards electric vehicles (EVs), autonomous driving technologies, and mobility services, while simultaneously adapting its existing business model to these changes. This approach will enable Daimler to capitalize on the growth potential of emerging markets while mitigating risks associated with disruptive technologies and evolving consumer preferences.
2. Background
Daimler, a global automotive giant, faces a pivotal moment in its history. The rise of electric vehicles, autonomous driving, and mobility services presents both opportunities and challenges. The company's legacy lies in traditional combustion engine vehicles, but the future of mobility is rapidly changing. This case study examines Daimler's strategic response to these disruptive forces and explores potential paths forward.
The main protagonists in this case are:
- Dieter Zetsche, former CEO of Daimler, who spearheaded the company's initial efforts to adapt to the changing landscape.
- Ola K'llenius, current CEO of Daimler, who inherited the challenge of steering the company through a turbulent period.
- The Daimler Board of Directors, responsible for overseeing the company's strategic direction and decision-making.
- Investors and stakeholders, who are closely watching Daimler's performance and its ability to navigate the evolving industry.
3. Analysis of the Case Study
Daimler's situation can be analyzed through the lens of Porter's Five Forces framework:
- Threat of New Entrants: The automotive industry is increasingly open to new entrants, particularly in the EV and mobility services sectors. Companies like Tesla and startups specializing in autonomous driving technology pose a significant threat.
- Bargaining Power of Buyers: Consumers are becoming more discerning, demanding greater fuel efficiency, advanced technology, and personalized mobility solutions. This shift in buyer preferences gives consumers more bargaining power.
- Bargaining Power of Suppliers: The supply chain for automotive components is becoming more complex, with new players emerging in areas like battery technology and software development. This could potentially increase the bargaining power of suppliers.
- Threat of Substitute Products: Alternative modes of transportation like ride-sharing, public transportation, and even bicycles are gaining popularity, posing a threat to traditional car ownership.
- Competitive Rivalry: The automotive industry is highly competitive, with established players like Toyota, Volkswagen, and General Motors vying for market share. The emergence of new technologies and business models further intensifies competition.
Daimler faces significant challenges in this dynamic environment. Its core competency in combustion engine technology is being challenged by the rise of EVs. The company also needs to navigate the complex regulatory landscape surrounding autonomous driving and mobility services.
4. Recommendations
Daimler should implement the following recommendations:
1. Embrace the Electric Revolution:
- Accelerate EV production: Invest heavily in research and development to improve battery technology and expand production capacity for EVs.
- Develop a comprehensive EV strategy: Offer a diverse range of EVs across different segments to cater to various consumer needs.
- Leverage existing infrastructure: Utilize its global network of dealerships and service centers to support EV adoption.
- Partner with key players: Collaborate with battery manufacturers, charging infrastructure providers, and technology companies to build a robust EV ecosystem.
2. Lead the Autonomous Driving Revolution:
- Invest in cutting-edge technology: Develop and acquire advanced autonomous driving technologies, including sensor systems, artificial intelligence, and mapping capabilities.
- Pilot autonomous vehicle services: Launch pilot programs in select cities to gather real-world data and refine autonomous driving systems.
- Explore partnerships with ride-sharing companies: Collaborate with ride-sharing platforms to integrate autonomous vehicles into their services.
- Address regulatory hurdles: Work closely with governments to navigate the evolving regulatory landscape surrounding autonomous driving.
3. Transform into a Mobility Provider:
- Expand mobility services: Offer a range of mobility services, including ride-sharing, car-sharing, and subscription models.
- Develop a digital platform: Create a comprehensive digital platform that integrates various mobility services and provides a seamless user experience.
- Leverage data analytics: Utilize data analytics to optimize mobility services, personalize customer experiences, and identify new business opportunities.
- Embrace partnerships: Collaborate with technology companies, transportation providers, and urban planners to develop innovative mobility solutions.
4. Reimagine the Business Model:
- Shift from car ownership to mobility access: Focus on providing mobility solutions rather than solely selling vehicles.
- Embrace subscription models: Offer flexible subscription models that cater to diverse customer needs and preferences.
- Explore new revenue streams: Generate revenue from data analytics, advertising, and other value-added services.
- Adapt to changing consumer behavior: Continuously monitor and adapt to evolving consumer preferences and market trends.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Daimler's core competency in engineering and manufacturing can be leveraged to develop and produce EVs and autonomous driving technologies. The company's commitment to innovation and sustainable mobility aligns with the shift towards a future of electric and autonomous vehicles.
- External customers and internal clients: The recommendations address the evolving needs of customers who are increasingly seeking sustainable, convenient, and personalized mobility solutions. They also aim to engage internal stakeholders, including employees, by providing them with opportunities to contribute to the company's transformation.
- Competitors: The recommendations aim to position Daimler as a leader in the emerging EV and autonomous driving markets, enabling it to compete effectively with established players and new entrants.
- Attractiveness ' quantitative measures: While it is difficult to quantify the exact financial impact of these recommendations, they are expected to contribute to long-term profitability by capturing growth opportunities in the rapidly expanding EV and mobility services markets.
6. Conclusion
Daimler's success in the future of mobility hinges on its ability to embrace change, invest in innovation, and adapt its business model. By adopting a multi-pronged strategy that prioritizes EVs, autonomous driving, and mobility services, Daimler can position itself as a leader in the evolving automotive landscape. The company's legacy in engineering and manufacturing, combined with its commitment to innovation, provide a strong foundation for this transformation.
7. Discussion
Alternative options not selected include:
- Sticking to traditional combustion engine vehicles: This approach would be risky, as the market for traditional vehicles is shrinking due to environmental concerns and technological advancements.
- Focusing solely on EVs: While EVs are a key part of the future of mobility, focusing solely on EVs could limit Daimler's market reach and expose it to risks associated with battery technology and charging infrastructure.
- Ignoring autonomous driving: This approach would be shortsighted, as autonomous driving technology is rapidly advancing and has the potential to transform the automotive industry.
Key assumptions of the recommendations include:
- Continued government support for EVs and autonomous driving: Government policies and incentives will play a crucial role in driving adoption of these technologies.
- Technological advancements in battery technology and autonomous driving: The success of these recommendations depends on continued progress in these areas.
- Consumer acceptance of EVs and autonomous vehicles: Consumers need to be willing to embrace these new technologies for them to succeed.
8. Next Steps
To implement these recommendations, Daimler should:
- Develop a detailed strategic plan: Outline specific goals, timelines, and resource allocation for each initiative.
- Establish a dedicated team: Assemble a team of experts to lead the company's transformation efforts.
- Communicate the strategy to stakeholders: Clearly communicate the company's vision and plans to investors, employees, and the public.
- Continuously monitor and adapt: Regularly assess progress, identify challenges, and make adjustments as needed.
By taking these steps, Daimler can navigate the complexities of the evolving automotive landscape and position itself for long-term success in the future of mobility.
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