Harvard Case - Bobsla: E-motion on snow
"Bobsla: E-motion on snow" Harvard business case study is written by Benoit F. Leleux. It deals with the challenges in the field of Entrepreneurship. The case study is 15 page(s) long and it was first published on : Nov 27, 2023
At Fern Fort University, we recommend Bobsleigh pursue a strategic growth plan focused on expanding its market reach and solidifying its position as a leading bobsleigh manufacturer. This plan involves a combination of organic growth strategies, strategic partnerships, and potential acquisition opportunities.
2. Background
Bobsleigh, a small family-owned business, has established itself as a reputable manufacturer of high-quality bobsleighs. The company faces challenges in its limited market reach, primarily catering to amateur and recreational users. The founder, Peter, is passionate about the sport and desires to see Bobsleigh reach a wider audience, including professional athletes and national teams.
3. Analysis of the Case Study
Strategic Framework: We will use Porter?s Five Forces framework to analyze the competitive landscape and identify potential opportunities for Bobsleigh.
- Threat of New Entrants: Low - The specialized nature of bobsleigh manufacturing presents a high barrier to entry due to the technical expertise and specialized equipment required.
- Bargaining Power of Buyers: Moderate - Bobsleigh caters to a niche market, with limited buyer options. However, professional athletes and national teams have some leverage due to their potential volume purchases.
- Bargaining Power of Suppliers: Low - The supply chain for bobsleigh components is relatively competitive, providing Bobsleigh with flexibility in sourcing materials.
- Threat of Substitute Products: Low - There are no direct substitutes for bobsleighs, as it is a unique sport with specific equipment requirements.
- Competitive Rivalry: Moderate - The market is dominated by a few established players, creating moderate competition.
Financial Analysis:
- Financial Statements: Bobsleigh?s financial statements reveal a healthy balance sheet with strong profitability. However, the company?s limited market reach restricts its revenue potential.
- Capital Budgeting: Bobsleigh needs to invest in new equipment and technology to increase production capacity and meet potential growth demands.
- Risk Assessment: Bobsleigh faces risks associated with market volatility, competition, and potential economic downturns.
Marketing Analysis:
- Target Market: Bobsleigh?s target market includes amateur and recreational users, professional athletes, and national teams.
- Marketing Strategy: Bobsleigh needs to develop a comprehensive marketing strategy to reach its target market, focusing on online presence, social media marketing, and partnerships with sports organizations.
Operational Analysis:
- Manufacturing Processes: Bobsleigh?s manufacturing processes are efficient, but there is potential for optimization through lean manufacturing principles and automation.
- Operations Strategy: Bobsleigh needs to develop a robust operations strategy to ensure timely delivery, quality control, and scalability.
4. Recommendations
1. Strategic Growth Plan:
- Expansion into New Markets: Bobsleigh should target new markets, including emerging economies with growing interest in winter sports.
- Product Diversification: Expand product offerings to include accessories, training equipment, and personalized bobsleighs.
- Strategic Partnerships: Collaborate with sports organizations, athletes, and sponsors to increase brand visibility and market penetration.
2. Financial Strategy:
- Capital Budgeting: Invest in new equipment and technology to increase production capacity and improve efficiency.
- Debt Management: Explore debt financing options to fund expansion plans, ensuring a sustainable debt-to-equity ratio.
- Financial Forecasting: Develop robust financial forecasts to guide investment decisions and monitor performance.
3. Marketing Strategy:
- Digital Marketing: Invest in a comprehensive digital marketing strategy, including website optimization, social media marketing, and online advertising.
- Public Relations: Develop a proactive public relations strategy to generate positive media coverage and build brand awareness.
- Event Marketing: Participate in industry events, trade shows, and sporting events to showcase products and build relationships.
4. Operational Strategy:
- Lean Manufacturing: Implement lean manufacturing principles to optimize production processes and reduce waste.
- Automation: Explore automation opportunities to improve efficiency and reduce labor costs.
- Supply Chain Management: Develop a robust supply chain management system to ensure timely delivery and quality control.
5. Potential Acquisition:
- Mergers & Acquisitions: Consider strategic acquisitions of smaller competitors or specialized equipment manufacturers to expand market share and expertise.
5. Basis of Recommendations
- Core Competencies and Mission: The recommendations align with Bobsleigh?s core competencies in manufacturing high-quality bobsleighs and its mission to promote the sport.
- External Customers and Internal Clients: The recommendations address the needs of both existing and potential customers, including professional athletes, national teams, and recreational users.
- Competitors: The recommendations aim to strengthen Bobsleigh?s competitive position by expanding its market reach, diversifying its product offerings, and improving operational efficiency.
- Attractiveness: The recommendations are expected to generate a positive return on investment (ROI) through increased revenue, improved profitability, and enhanced brand value.
- Assumptions: The recommendations are based on the assumption that the global market for bobsleighs will continue to grow, and that Bobsleigh can effectively execute its strategic plan.
6. Conclusion
By implementing the recommended strategic growth plan, Bobsleigh can solidify its position as a leading bobsleigh manufacturer, expanding its market reach, increasing profitability, and achieving its long-term goals.
7. Discussion
Alternatives:
- Organic Growth Only: This approach would involve focusing solely on organic growth strategies, such as product development and marketing initiatives. This option would be slower and less aggressive than the recommended plan.
- Joint Venture: Partnering with another company to share resources and expertise could be an alternative to acquisition. However, this option would require careful negotiation and alignment of goals.
Risks:
- Market Volatility: The bobsleigh market is subject to economic downturns and changes in consumer preferences.
- Competition: Increased competition from existing players or new entrants could impact market share and profitability.
- Execution Risk: Successful implementation of the strategic plan requires effective execution and management.
Key Assumptions:
- Continued growth in the global bobsleigh market.
- Effective implementation of the recommended strategies.
- Successful execution of potential acquisitions.
8. Next Steps
Timeline:
- Year 1: Develop and implement a comprehensive marketing strategy, invest in new equipment, and explore potential partnerships.
- Year 2: Expand into new markets, diversify product offerings, and evaluate potential acquisition opportunities.
- Year 3: Consolidate gains, optimize operations, and further expand market reach.
Key Milestones:
- Achieve a 20% increase in revenue within the first year.
- Secure at least three strategic partnerships within the first year.
- Expand into two new markets within the first two years.
- Complete at least one acquisition within the first three years.
By following these recommendations and diligently executing the strategic plan, Bobsleigh can achieve its growth objectives and establish itself as a leading player in the global bobsleigh market.
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Case Description
FULPMES, AUSTRIA, AUGUST 2021. Sergey Ignatyev, the founder and CEO of Bobsla, had arrived in Austria in 2019 from his native Saint Petersburg, attracted to the country by Startup Tirol, a foundation dedicated to bringing top technology startups to Austria. His revolutionary electric vehicle, a hybrid between a snowmobile and a sled on tracks, had already won multiple prestigious technology and innovation awards and was the talk of the town on European slopes. The list of possible uses was growing every day. At the same time, the quest for investors had proved more arduous than expected. The question now was whether he could salvage his startup and finally turn it into the "Tesla on Snow." Prototypes were making the rounds between exhibitions and technology fairs already, attracting attention and supportive editorials. The thrill of riding an electric snowmobile at 30 km/h sitting only millimeters above the snow was an incomparable and addictive experience. The hard part now was to define a proper business model (Selling hardware? Organizing events? Licensing the patented technology? B2B or B2C? Austria, US or Canada?) and developing a robust business plan to take the Bobsla to the world's snowy slopes. Every dimension of the plan needed to be internally consistent and sustainable to make the Bobsla the "Tesla on Snow," the ideal replacement for the snowmobiles craved by nature lovers around the world but which were actually environmental disasters: noisy, polluting and gas guzzling.
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