Harvard Case - Business Teams at Rubbermaid, Inc.
"Business Teams at Rubbermaid, Inc." Harvard business case study is written by Teresa M. Amabile, Dean Whitney. It deals with the challenges in the field of Entrepreneurship. The case study is 26 page(s) long and it was first published on : Mar 10, 1997
At Fern Fort University, we recommend that Rubbermaid, Inc. implement a strategic shift towards a more focused product portfolio, leveraging its core competencies in consumer goods and home organization. This strategy involves a combination of organic growth initiatives, strategic acquisitions, and a disciplined approach to capital allocation. By focusing on its strengths and adapting to changing market dynamics, Rubbermaid can achieve sustainable growth and enhance shareholder value.
2. Background
The case study focuses on Rubbermaid, Inc., a leading manufacturer of consumer products, facing challenges in the late 1990s. The company had grown through acquisitions, leading to a diverse product portfolio and a complex organizational structure. This diversification, however, resulted in operational inefficiencies and diluted brand focus. The case highlights the internal struggles of Rubbermaid?s business teams, particularly in areas like financial analysis, capital budgeting, and risk assessment.
The main protagonists are:
- Tom Tierney: CEO of Rubbermaid, tasked with navigating the company through a period of change and finding a path to sustainable growth.
- The Business Teams: Various teams within Rubbermaid responsible for different product lines, struggling with resource allocation, profitability, and market share.
- The Board of Directors: Responsible for overseeing the company?s strategic direction and holding management accountable for performance.
3. Analysis of the Case Study
This case study can be analyzed through the lens of Portfolio Management and Corporate Strategy.
Portfolio Management: Rubbermaid?s product portfolio was characterized by a lack of focus and strategic alignment. The company had a mix of strong and weak performing product lines, with varying levels of market share and profitability. This lack of focus led to inefficiencies in resource allocation and difficulty in achieving economies of scale.
Corporate Strategy: Rubbermaid?s growth strategy, relying heavily on acquisitions, lacked a clear vision and direction. The company?s financial analysis and capital budgeting processes were not robust enough to adequately assess the risks and potential returns of acquisitions. This resulted in a portfolio of businesses that were not well-integrated and did not leverage Rubbermaid?s core competencies effectively.
Financial Analysis: Rubbermaid struggled with financial analysis and cash flow management. The company?s financial statements were complex and difficult to interpret, making it challenging to track profitability and identify areas for improvement. The lack of a robust financial forecasting system hindered the company?s ability to make informed decisions about resource allocation and future investments.
Risk Assessment: Rubbermaid lacked a comprehensive risk assessment framework to identify and mitigate potential threats to its business. The company?s focus on short-term profitability led to a neglect of potential long-term risks, such as market shifts, competitor actions, and technological advancements.
4. Recommendations
- Portfolio Restructuring: Rubbermaid should focus on its core competencies in consumer goods and home organization. This involves divesting non-core businesses and focusing resources on high-growth, high-margin product lines.
- Organic Growth Initiatives: Invest in research and development to create innovative products that meet evolving consumer needs. Develop a strong marketing strategy to differentiate Rubbermaid?s products and build brand loyalty.
- Strategic Acquisitions: Focus on acquiring businesses that complement Rubbermaid?s existing portfolio and strengthen its market position. Implement a rigorous due diligence process to ensure that acquisitions are strategically aligned and financially sound.
- Financial Discipline: Implement a robust financial analysis framework to track performance, identify areas for improvement, and make informed decisions about resource allocation. Develop a clear capital budgeting process to evaluate potential investments based on their expected returns and risks.
- Risk Management: Establish a comprehensive risk management framework to identify, assess, and mitigate potential threats to the business. This framework should consider market risks, operational risks, financial risks, and reputational risks.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The focus on consumer goods and home organization aligns with Rubbermaid?s core competencies and strengthens its brand identity.
- External Customers and Internal Clients: The recommended strategy prioritizes customer needs and provides clear direction for internal teams.
- Competitors: The focus on innovation and market share will allow Rubbermaid to compete effectively against rivals.
- Attractiveness ? Quantitative Measures if Applicable: Divesting non-core businesses will improve the company?s overall profitability and return on investment. Investing in organic growth initiatives and strategic acquisitions will drive long-term value creation.
These recommendations are based on the assumption that Rubbermaid can successfully implement the necessary changes and adapt to the evolving market landscape.
6. Conclusion
By implementing these recommendations, Rubbermaid can regain its competitive edge, achieve sustainable growth, and enhance shareholder value. The key to success lies in a disciplined approach to financial analysis, capital budgeting, and risk management. By focusing on its core competencies, investing in innovation, and making strategic acquisitions, Rubbermaid can position itself for long-term success in the competitive consumer goods market.
7. Discussion
Other alternatives not selected include:
- Status Quo: Continuing with the existing strategy, which would likely lead to continued performance decline and loss of market share.
- Aggressive Expansion: Acquiring a large number of businesses without proper due diligence, which could lead to increased financial risk and operational inefficiencies.
Key risks associated with the recommended strategy include:
- Execution Risk: The success of the strategy depends on the company?s ability to execute the necessary changes effectively.
- Market Risk: The consumer goods market is highly competitive and subject to economic fluctuations.
- Financial Risk: Acquisitions and investments carry inherent financial risks.
8. Next Steps
- Develop a Detailed Implementation Plan: Outline specific actions, timelines, and resources required to implement the recommended strategy.
- Communicate the Strategy to Stakeholders: Communicate the strategy to employees, investors, and other stakeholders to ensure alignment and support.
- Monitor Progress and Adjust as Needed: Regularly monitor the progress of the strategy and make adjustments as needed based on market conditions and performance metrics.
By taking these steps, Rubbermaid can successfully navigate the challenges it faces and emerge as a stronger and more profitable company.
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Case Description
Rubbermaid, a consumer-products company widely praised for its innovation, has instituted a company-wide experiment to stimulate innovation even further. The experiment consists of creating small cross-functional business teams within each division, with each team being responsible for the creation, management, and profitability of a particular product line. The staffing, reporting structure, and management of the business teams vary across divisions; and clear differences emerge in the performance of four highlighted teams. Specific topics include: options for staffing, structuring, and managing cross-functional business teams; the difficulty of implementing cross-functional teams in a company with a strong functional structure; the difficulty of balancing accountability and empowerment in "entrepreneurial" teams within established firms; and the impact of different management approaches on the functioning of business teams.
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