Harvard Case - Asiasports: Hockey Night in Hong Kong
"Asiasports: Hockey Night in Hong Kong" Harvard business case study is written by Andrew Delios. It deals with the challenges in the field of Entrepreneurship. The case study is 19 page(s) long and it was first published on : Jul 7, 1999
At Fern Fort University, we recommend Asiasports pursue a strategic growth strategy focused on expanding its hockey operations within Hong Kong and the broader Asian market. This should be achieved through a combination of organic growth initiatives, strategic partnerships, and potential acquisitions. The company should leverage its existing expertise in hockey operations and its strong brand recognition to capitalize on the growing popularity of the sport in Asia.
2. Background
Asiasports is a Hong Kong-based company that operates a professional ice hockey team, the Hong Kong Dragons. The company faces challenges due to the relatively low popularity of ice hockey in Hong Kong and the limited local talent pool. The case study focuses on the company's decision to host the "Hockey Night in Hong Kong" event, a major international ice hockey tournament, in an attempt to boost the sport's profile and generate revenue.The main protagonists are:
- Mr. Wong, the CEO of Asiasports, who is passionate about hockey and wants to grow the sport in Hong Kong.
- Ms. Chan, the company?s marketing director, who is responsible for generating revenue and promoting the event.
- The Hong Kong Dragons, the professional hockey team owned by Asiasports.
3. Analysis of the Case Study
This case study can be analyzed through the lens of strategic management and financial analysis.
Strategic Analysis:
- Competitive Advantage: Asiasports has a strong brand recognition in Hong Kong and possesses expertise in hockey operations. This provides a competitive advantage in the local market.
- Market Opportunity: The case highlights the growing popularity of ice hockey in Asia, presenting a significant market opportunity for Asiasports.
- Growth Strategy: The company needs to develop a clear growth strategy that leverages its existing strengths and capitalizes on the market opportunity.
Financial Analysis:
- Revenue Generation: The ?Hockey Night in Hong Kong? event is a key revenue generation strategy for Asiasports. The company needs to analyze the event?s profitability and potential for future growth.
- Capital Budgeting: The company needs to carefully evaluate the financial implications of hosting the event, including the costs associated with infrastructure, marketing, and talent acquisition.
- Risk Assessment: Asiasports must consider the risks associated with hosting a major international event, including potential financial losses, operational challenges, and negative publicity.
4. Recommendations
- Expand Hockey Operations: Asiasports should invest in expanding its hockey operations beyond the Hong Kong Dragons. This could involve developing youth hockey programs, establishing a hockey academy, or launching a second professional team.
- Strategic Partnerships: The company should forge strategic partnerships with international hockey organizations, sponsors, and media outlets to increase visibility and attract talent.
- Potential Acquisitions: Asiasports should explore potential acquisitions of smaller hockey teams or organizations in Asia to expand its reach and market share.
- Focus on Youth Development: Investing in youth hockey programs will create a sustainable talent pipeline for the Hong Kong Dragons and the broader hockey community in Hong Kong.
- Leverage Technology and Analytics: Asiasports should implement data-driven decision-making by using analytics to understand fan preferences, optimize marketing campaigns, and improve team performance.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: Asiasports? core competencies lie in hockey operations and brand recognition. The recommendations leverage these strengths to drive growth.
- External Customers: The recommendations focus on attracting new fans and sponsors by expanding the reach of hockey in Hong Kong and Asia.
- Competitors: The recommendations aim to differentiate Asiasports from competitors by creating a unique value proposition through youth development, strategic partnerships, and a broader focus on hockey development.
- Attractiveness: The recommendations are expected to generate positive returns on investment through increased revenue, brand recognition, and market share.
- Assumptions: The recommendations assume that the popularity of ice hockey in Asia will continue to grow and that Asiasports can successfully execute its growth strategy.
6. Conclusion
Asiasports has a significant opportunity to capitalize on the growing popularity of ice hockey in Asia. By implementing a strategic growth strategy that focuses on expanding its hockey operations, leveraging partnerships, and exploring acquisitions, the company can achieve sustainable growth and establish itself as a leading force in the Asian hockey market.
7. Discussion
Other Alternatives:
- Focus solely on the Hong Kong Dragons: This would be a more conservative approach but would limit the company?s growth potential.
- Partner with a major international hockey organization: This could provide access to resources and expertise but could also lead to a loss of control over the company?s operations.
Risks and Key Assumptions:
- Risk of financial losses: There is a risk that the company?s investments in growth initiatives may not generate the expected returns.
- Risk of competition: The company faces competition from other sports and entertainment options in Hong Kong.
- Assumption of continued growth in hockey popularity: The recommendations assume that the popularity of ice hockey in Asia will continue to grow.
8. Next Steps
- Develop a detailed business plan: This should outline the company?s growth strategy, financial projections, and key milestones.
- Secure funding: Asiasports will need to secure funding to support its growth initiatives.
- Build a strong management team: The company needs to assemble a team with the expertise and experience to execute its growth strategy.
- Implement marketing and outreach programs: Asiasports should develop marketing campaigns to attract new fans and sponsors.
- Monitor progress and adapt: The company should regularly monitor the progress of its growth initiatives and make adjustments as needed.
By taking these steps, Asiasports can position itself for success in the growing Asian hockey market.
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Case Description
Tom Barnes, executive director of Asiasports Ltd., was evaluating several options for growth for the sports management company. Asiasports' principal sports properties were the South China Ice Hockey League and the World Ice Hockey 5's tournament, both based in Hong Kong. Among the alternatives available: Barnes could develop hockey in other countries in Southeast Asia, he could acquire new sports properties, or he could expand into in-line hockey promotion in Hong Kong.
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