Harvard Case - The Aquaculture Industry in the Philippines: Creating Social Values at Marina Gana Vida
"The Aquaculture Industry in the Philippines: Creating Social Values at Marina Gana Vida" Harvard business case study is written by Ali Farhoomand, Shiu Kau Wong. It deals with the challenges in the field of Entrepreneurship. The case study is 15 page(s) long and it was first published on : Jun 21, 2012
At Fern Fort University, we recommend that Marina Gana Vida (MGV) adopt a multifaceted strategy to enhance its social impact while ensuring financial sustainability. This strategy involves a combination of operational improvements, strategic partnerships, and targeted investments in technology and infrastructure.
2. Background
Marina Gana Vida is a social enterprise in the Philippines focused on sustainable aquaculture practices. Founded by a group of entrepreneurs, MGV aims to improve the livelihoods of local fishers while promoting environmentally responsible fish farming. The case study highlights the challenges faced by MGV, including limited access to capital, fluctuating market prices, and the need to scale operations while maintaining social impact.
The main protagonists are:
- The founders: Driven by social mission, they face the challenge of balancing financial viability with social impact.
- The fishers: Beneficiaries of MGV?s program, they rely on the enterprise for income and improved fishing practices.
- Potential investors: Key stakeholders who can provide the necessary capital for expansion but require a strong business case and evidence of social impact.
3. Analysis of the Case Study
This case study can be analyzed through the lens of Social Enterprise Strategy, which combines traditional business principles with a focus on social impact. Key aspects of the analysis include:
a) Social Impact:
- Positive Impacts: MGV has demonstrably improved the livelihoods of fishers through training, access to better technology, and increased income. The company?s sustainable practices contribute to environmental conservation.
- Challenges: Scaling the social impact requires addressing the needs of a larger number of fishers, ensuring fair distribution of benefits, and maintaining transparency in operations.
b) Financial Sustainability:
- Challenges: MGV faces financial constraints due to limited access to capital, fluctuating market prices, and the need for significant investments in infrastructure and technology.
- Opportunities: The growing demand for sustainably sourced seafood presents a market opportunity for MGV. Expanding operations and diversifying product offerings can improve profitability.
c) Operational Efficiency:
- Challenges: MGV needs to improve its operational efficiency to reduce costs and increase productivity. This includes optimizing fish farming practices, streamlining supply chain logistics, and implementing activity-based costing to identify areas for improvement.
- Opportunities: Implementing technology solutions like data analytics and remote monitoring can enhance operational efficiency and improve decision-making.
d) Strategic Partnerships:
- Challenges: Building strong partnerships with government agencies, NGOs, and other businesses is crucial for MGV?s success.
- Opportunities: Collaborations can provide access to funding, expertise, and market channels. Partnerships can also enhance the company?s social impact by leveraging the resources of other organizations.
4. Recommendations
1. Secure Strategic Investments:
- Target: Private equity firms, impact investors, and socially responsible investment funds.
- Strategy: Develop a compelling investment proposal that highlights MGV?s social impact, financial projections, and growth potential.
- Timeline: Initiate discussions with potential investors within the next 6 months.
2. Enhance Operational Efficiency:
- Implement: Activity-based costing to identify areas for cost reduction and productivity improvement.
- Invest: In technology solutions like data analytics and remote monitoring to optimize fish farming practices and streamline operations.
- Timeline: Implement activity-based costing within the next 3 months. Invest in technology solutions within the next 12 months.
3. Expand Product Portfolio and Markets:
- Diversify: Explore new fish species and value-added products to cater to a wider market.
- Target: Domestic and international markets with a focus on sustainability and ethical sourcing.
- Timeline: Develop a new product line within the next 12 months. Explore international markets within the next 24 months.
4. Build Strategic Partnerships:
- Collaborate: With government agencies for policy support, market access, and resource allocation.
- Partner: With NGOs for capacity building, community outreach, and knowledge sharing.
- Network: With other social enterprises and businesses for joint ventures, supply chain optimization, and market expansion.
- Timeline: Establish key partnerships within the next 6 months.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with MGV?s core competencies in sustainable aquaculture and its mission to improve livelihoods and protect the environment.
- External customers and internal clients: The recommendations address the needs of both external customers (consumers seeking sustainably sourced seafood) and internal clients (fishers seeking improved livelihoods).
- Competitors: The recommendations aim to differentiate MGV by focusing on social impact, operational efficiency, and strategic partnerships, creating a competitive advantage in the sustainable seafood market.
- Attractiveness: The recommendations are expected to improve MGV?s financial performance, as evidenced by increased profitability, improved cash flow, and enhanced market share.
6. Conclusion
By implementing these recommendations, MGV can achieve a balance between social impact and financial sustainability. The strategy focuses on securing strategic investments, enhancing operational efficiency, expanding product offerings, and building strong partnerships. This approach will enable MGV to scale its operations while maintaining its commitment to social responsibility and environmental stewardship.
7. Discussion
Alternatives not selected:
- Going public: While an IPO could provide access to significant capital, it may not be the most suitable option for MGV at this stage, given its focus on social impact and the potential for dilution of ownership.
- Mergers and acquisitions: While M&A could provide access to new markets and expertise, it could also introduce complexities and potentially compromise MGV?s social mission.
Risks and key assumptions:
- Market volatility: Fluctuations in seafood prices could impact MGV?s profitability.
- Competition: Increased competition from other sustainable seafood producers could affect market share.
- Regulatory changes: Changes in government policies and regulations could impact MGV?s operations.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Strategic Investments | Access to capital, expertise, and networks | Potential dilution of ownership, alignment with investor goals |
| Operational Efficiency | Reduced costs, improved productivity | Initial investment required, potential job losses |
| Product Portfolio Expansion | Increased revenue streams, wider customer base | Risk of cannibalization, increased operational complexity |
| Strategic Partnerships | Access to resources, expertise, and markets | Potential conflicts of interest, dependence on partners |
8. Next Steps
Timeline:
- Month 1-3: Implement activity-based costing, initiate discussions with potential investors.
- Month 4-6: Develop a new product line, establish key partnerships.
- Month 7-12: Invest in technology solutions, explore international markets.
- Month 13-24: Continue to refine operational efficiency, expand market presence, and monitor progress towards social impact goals.
By implementing these recommendations and closely monitoring progress, MGV can achieve its ambitious goals of improving livelihoods, promoting sustainable aquaculture, and becoming a leading player in the ethical seafood market.
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Case Description
In February 2007, Jonah Nobleza started Marina Gana Vida ("MGV") in the Davao coastal area in the Philippines, which historically had been the home of many subsistence fishermen living in poverty. MGV sold hatchery-bred fry fish seed stocks, fresh fish and packaged fish products produced in its own processing plant. The main social objective of MGV was to help the poor living in the area through job or business opportunities so that some day they could lift their households out of poverty. Since 2009, MGV had been gradually meeting its social, environmental and economic goals. It provided direct and indirect employment to many poor households. Nobleza faced conflicting goals as he tried to scale up MGV's production. Should he replace the women workers with machines that could produce more jars of processed fish products per day? Without a sizable business, he would have trouble proving his successful business model to those who would be willing to provide the much-needed funds to MGV. What could he do to balance his philanthropic and business goals in a social enterprise such as MGV?
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