Harvard Case - City Mart: Creating an Ecosystem and Corporate Synergies in The Myanmar Market; A Blueprint For Expanding in Frontier Economies
"City Mart: Creating an Ecosystem and Corporate Synergies in The Myanmar Market; A Blueprint For Expanding in Frontier Economies" Harvard business case study is written by Philip Zerrillo, Adina 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 : Sep 10, 2018
At Fern Fort University, we recommend City Mart Holdings (CMH) to adopt a multifaceted strategy that leverages its existing strengths and capitalizes on the burgeoning Myanmar market. This strategy should focus on building a robust ecosystem of interconnected businesses, fostering innovation, and leveraging technology to drive growth and profitability.
2. Background
City Mart Holdings (CMH) is a leading conglomerate in Myanmar, operating in diverse sectors including retail, FMCG, and real estate. The company faces the challenge of navigating a rapidly evolving market with significant growth potential but also marked by infrastructure limitations and regulatory complexities. CMH aims to expand its footprint, enhance its competitive advantage, and create a sustainable business model that benefits both the company and the local community.
The main protagonists of the case study are:
- U Aung Myint, the visionary founder and Chairman of CMH, who drives the company?s growth strategy.
- The CMH management team, tasked with implementing U Aung Myint?s vision and navigating the complexities of the Myanmar market.
- The Myanmar consumer, the target audience that CMH aims to serve with its diverse product offerings and services.
3. Analysis of the Case Study
Strategic Framework: Porter?s Five Forces Analysis provides a valuable framework to understand the competitive landscape and identify opportunities for CMH.
- Threat of New Entrants: Moderate ? The Myanmar market is attracting foreign investment, but entry barriers exist due to regulations and infrastructure challenges.
- Bargaining Power of Buyers: Moderate ? Consumers have limited choices, but increasing competition could empower them.
- Bargaining Power of Suppliers: High ? Myanmar?s supply chain is fragmented, giving suppliers leverage.
- Threat of Substitutes: Low ? Limited alternatives exist for many of CMH?s products and services.
- Competitive Rivalry: High ? CMH faces competition from local and international players vying for market share.
Key Observations:
- Growth Potential: Myanmar?s rapidly growing economy and rising middle class present significant opportunities for CMH.
- Infrastructure Gaps: Limited infrastructure and logistics pose challenges for efficient operations and supply chain management.
- Regulatory Landscape: Navigating complex regulations and obtaining necessary approvals can be time-consuming and costly.
- Technological Advancement: Leveraging technology is crucial for enhancing efficiency, improving customer experience, and gaining a competitive edge.
- Social Responsibility: CMH has an opportunity to contribute to Myanmar?s development by creating jobs, supporting local businesses, and promoting sustainable practices.
Financial Analysis:
- Strong Financial Position: CMH enjoys a robust financial position, enabling it to invest in growth initiatives.
- Profitability: Maintaining profitability while managing growth and navigating market complexities is crucial.
- Investment Opportunities: CMH needs to prioritize investments in key areas like technology, logistics, and talent development.
4. Recommendations
1. Build a Robust Ecosystem:
- Vertical Integration: Expand into complementary businesses like logistics, manufacturing, and financial services to control the supply chain and offer integrated solutions.
- Strategic Partnerships: Collaborate with local and international players to access expertise, technology, and markets. This could involve joint ventures, distribution agreements, or technology licensing.
- Incubator Program: Establish an incubator to support local startups and entrepreneurs, fostering innovation and creating a pipeline of potential acquisitions.
- Digital Marketplace: Develop a digital platform that connects consumers with local businesses, facilitating online commerce and promoting local products.
2. Leverage Technology and Analytics:
- Supply Chain Optimization: Implement advanced software and analytics to optimize logistics, improve inventory management, and reduce costs.
- Personalized Customer Experience: Utilize data analytics to understand customer preferences and tailor marketing campaigns and product offerings.
- Digital Payment Solutions: Integrate mobile payment systems and digital wallets to enhance customer convenience and expand reach.
- E-commerce Platform: Develop a robust e-commerce platform to reach a wider customer base and offer a seamless online shopping experience.
3. Foster Innovation and Entrepreneurship:
- R&D Investment: Allocate resources for product development, research, and innovation to create differentiated offerings and enhance customer value.
- Employee Empowerment: Foster an organizational culture that encourages creativity, risk-taking, and entrepreneurial thinking.
- Talent Acquisition: Invest in attracting and retaining skilled professionals, particularly in technology, data analytics, and marketing.
- Corporate Venture Capital: Establish a corporate venture capital arm to invest in promising startups and acquire innovative technologies.
4. Embrace Social Responsibility:
- Sustainable Practices: Implement environmentally friendly practices throughout the supply chain and promote sustainable consumption among customers.
- Community Engagement: Support local communities through initiatives like job creation, skills development, and infrastructure improvements.
- Ethical Sourcing: Ensure ethical sourcing practices and fair treatment of workers throughout the supply chain.
5. Go Public:
- Access Capital: Listing on a stock exchange can provide access to capital for future growth and expansion.
- Increased Transparency: Going public enhances transparency and accountability, building investor confidence.
- Enhanced Brand Reputation: Listing on a reputable exchange can enhance CMH?s brand reputation and visibility.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: Leveraging CMH?s existing strengths in retail, FMCG, and real estate while expanding into complementary businesses.
- External Customers and Internal Clients: Meeting the evolving needs of Myanmar?s growing consumer market and empowering employees to contribute to innovation.
- Competitors: Staying ahead of the competition by embracing technology, fostering innovation, and building a robust ecosystem.
- Attractiveness: The recommendations offer significant potential for growth, profitability, and social impact, contributing to CMH?s long-term success.
- Assumptions: The recommendations assume continued economic growth in Myanmar, favorable regulatory environment, and CMH?s ability to attract and retain talent.
6. Conclusion
By adopting a multifaceted strategy that leverages its strengths, embraces technology, and fosters innovation, CMH can solidify its position as a leading player in the Myanmar market. This approach will enable the company to achieve sustainable growth, create value for its stakeholders, and contribute to the development of the country.
7. Discussion
Alternatives:
- Maintaining the Status Quo: This would limit CMH?s growth potential and make it vulnerable to competition.
- Focusing Solely on Retail: This would limit diversification and expose CMH to market fluctuations.
- Aggressive Acquisitions: This could lead to integration challenges and financial strain.
Risks:
- Economic Downturn: A slowdown in Myanmar?s economy could impact consumer spending and profitability.
- Regulatory Changes: Unfavorable regulations could hinder business operations and expansion plans.
- Competition: Increased competition from local and international players could erode market share.
Key Assumptions:
- Continued economic growth in Myanmar.
- Favorable regulatory environment.
- CMH?s ability to attract and retain talent.
8. Next Steps
Timeline:
- Year 1: Implement technology upgrades, establish partnerships, and launch the digital marketplace.
- Year 2: Expand into complementary businesses, launch the incubator program, and explore going public.
- Year 3: Focus on innovation, product development, and expanding the ecosystem.
Key Milestones:
- Q1 2024: Implement supply chain optimization software.
- Q2 2024: Launch the digital marketplace and pilot the incubator program.
- Q3 2024: Finalize partnerships and begin expanding into complementary businesses.
- Q4 2024: Initiate the process of going public.
By taking these steps, CMH can position itself for continued success and become a leading force in Myanmar?s evolving market.
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Case Description
It is February 2017, and Ronald Lee is project director of City Properties, a sister company of Myanmar-based City Mart Holdings Limited (CMHL). CMHL runs the City Mart supermarket chain. To support the supermarket business, CMHL had grown into a large diversified family empire in the retail, import, distribution, logistics, property and supermarket landscape. In 1996, when City Mart, a local family-run enterprise, began operations, supermarkets were virtually unheard of in Myanmar. A relatively poor developing country in Asia, it had a very undeveloped free market economy, and almost no modern trade. The business had to be built from scratch, against a backdrop of a paltry logistics network, rolling blackouts, inadequate property infrastructure and many international brands being barred from entering the Myanmar market due to international sanctions. But retailing is a downstream business that depends on many upstream suppliers, decisions and processes. Unfortunately, as Myanmar began moving to more open markets not all of these supporting firms and processes were in place, providing the nascent retailer with many operational challenges that often turned into new opportunities. Over the years, the company developed numerous businesses organically as the challenges arose. CMHL became the first modern supermarket in Myanmar, comprising supermarkets, hypermarkets, convenience stores, bakeries and pharmacies. At the time of this case, Lee was planning his next move ahead of multinationals who would surely be looking at entering the market in the future.
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