Harvard Case - Japanese Facsimile Industry in 1990
"Japanese Facsimile Industry in 1990" Harvard business case study is written by Michael J. Enright. It deals with the challenges in the field of Business & Government Relations. The case study is 21 page(s) long and it was first published on : May 2, 1991
At Fern Fort University, we recommend that Japanese facsimile manufacturers adopt a multifaceted strategy to navigate the evolving market landscape. This strategy should focus on leveraging existing strengths, embracing innovation, and adapting to the changing global landscape. This includes:
- Shifting from a product-centric to a customer-centric approach: This involves understanding customer needs and developing solutions that meet those needs, rather than simply focusing on selling the latest technology.
- Investing in research and development to create more sophisticated and feature-rich fax machines: This will help maintain a competitive edge and cater to emerging market demands.
- Exploring new markets and expanding internationally: This will help diversify revenue streams and mitigate the risks of relying solely on the domestic market.
- Developing partnerships with other companies to offer integrated solutions: This will allow for greater reach and access to new markets.
- Embracing digital technologies: This will help Japanese facsimile manufacturers stay ahead of the curve and adapt to the changing technological landscape.
2. Background
The case study focuses on the Japanese facsimile industry in 1990, a period marked by rapid growth and dominance of Japanese companies like Ricoh, Sharp, and Canon. The industry was characterized by intense competition, technological innovation, and a strong focus on domestic sales. However, the emergence of alternative communication technologies like email and the increasing globalization of the market posed significant challenges to the industry's future.
The main protagonists in the case study are the leading Japanese facsimile manufacturers, who were faced with the daunting task of adapting to a rapidly changing market.
3. Analysis of the Case Study
The Japanese facsimile industry in 1990 faced several key challenges:
- Technological disruption: The emergence of email and other digital communication technologies threatened the traditional fax machine market.
- Globalization: The increasing globalization of the market meant that Japanese companies were facing competition from international players with lower costs and more advanced technologies.
- Saturation of the domestic market: The Japanese market was becoming saturated, leading to declining sales and increasing competition.
To analyze the situation, we can utilize Porter's Five Forces framework:
- Threat of new entrants: The threat of new entrants was relatively low due to the high barriers to entry, including the need for significant capital investment and technological expertise.
- Bargaining power of buyers: The bargaining power of buyers was moderate, as there were several manufacturers offering similar products. However, the increasing adoption of digital technologies gave buyers more options and increased their bargaining power.
- Bargaining power of suppliers: The bargaining power of suppliers was moderate, as there were several suppliers of components and raw materials.
- Threat of substitutes: The threat of substitutes was high, as email and other digital communication technologies offered a viable alternative to fax machines.
- Competitive rivalry: The competitive rivalry within the Japanese facsimile industry was intense, as several companies were vying for market share.
4. Recommendations
To address the challenges and capitalize on the opportunities, Japanese facsimile manufacturers should implement the following recommendations:
1. Embrace Innovation:
- Invest in research and development: Prioritize development of more sophisticated fax machines with advanced features like digital connectivity, network integration, and enhanced security.
- Explore new technologies: Invest in technologies like cloud-based faxing, mobile faxing, and document management systems to cater to the evolving needs of businesses.
- Develop partnerships: Collaborate with software companies to integrate fax functionality into existing business applications.
2. Expand Globally:
- Target emerging markets: Focus on developing countries with high growth potential and limited access to alternative communication technologies.
- Adapt products and services: Customize products and services to meet the specific needs of different international markets.
- Develop strategic partnerships: Partner with local companies to gain access to distribution channels and expertise in foreign markets.
3. Shift to a Customer-Centric Approach:
- Understand customer needs: Conduct thorough market research to identify the evolving needs of businesses and develop products and services that address those needs.
- Offer value-added services: Provide additional services like document management, secure document transmission, and customer support to enhance the value proposition.
- Build strong customer relationships: Focus on building long-term relationships with customers through personalized service, responsive support, and proactive communication.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Japanese facsimile manufacturers have a strong foundation in technology and manufacturing, which can be leveraged to develop innovative products and services.
- External customers and internal clients: The recommendations address the changing needs of businesses and the need for Japanese manufacturers to adapt to the global market.
- Competitors: The recommendations aim to differentiate Japanese manufacturers from their competitors by focusing on innovation, customer service, and global expansion.
- Attractiveness: The recommendations are expected to improve profitability and market share by catering to the evolving needs of customers and expanding into new markets.
6. Conclusion
The Japanese facsimile industry faced significant challenges in 1990, but by embracing innovation, expanding globally, and shifting to a customer-centric approach, Japanese manufacturers could navigate these challenges and maintain their competitive edge. This strategy would require a significant investment in research and development, a willingness to adapt to changing market conditions, and a commitment to building strong customer relationships.
7. Discussion
Other alternatives not selected include:
- Focusing solely on the domestic market: This would have limited growth potential due to market saturation and the increasing adoption of alternative technologies.
- Merging with or being acquired by a foreign company: This could lead to a loss of control and a potential decline in the quality of products and services.
- Exiting the facsimile industry: This would be a drastic measure and would likely result in significant job losses.
The risks associated with the recommended strategy include:
- The failure to develop innovative products and services that meet the needs of customers.
- The inability to successfully expand into new markets.
- The emergence of new technologies that further disrupt the facsimile market.
Key assumptions include:
- The continued demand for fax services in certain industries.
- The ability of Japanese manufacturers to develop innovative products and services that meet the needs of customers.
- The ability of Japanese manufacturers to successfully expand into new markets.
8. Next Steps
To implement the recommended strategy, Japanese facsimile manufacturers should take the following steps:
- Develop a comprehensive strategic plan: This plan should outline the company's vision, goals, and key initiatives for the next 5-10 years.
- Invest in research and development: Allocate sufficient resources to develop innovative products and services that meet the evolving needs of customers.
- Expand into new markets: Identify and target emerging markets with high growth potential and limited access to alternative communication technologies.
- Develop strategic partnerships: Partner with local companies to gain access to distribution channels and expertise in foreign markets.
- Shift to a customer-centric approach: Implement customer relationship management (CRM) systems and develop a culture of customer service excellence.
By taking these steps, Japanese facsimile manufacturers can adapt to the changing market landscape, maintain their competitive edge, and ensure the long-term success of their businesses.
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Case Description
Japanese firms dominate the facsimile machine industry, accounting for more than 90% of worldwide sales. This case explores the reasons for this dominance.
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