Harvard Case - Critical Concrete: Pivot possibilities for a sustainable architecture social enterprise
"Critical Concrete: Pivot possibilities for a sustainable architecture social enterprise" Harvard business case study is written by Stephanie E Raible. It deals with the challenges in the field of Entrepreneurship. The case study is 9 page(s) long and it was first published on : Jun 30, 2022
At Fern Fort University, we recommend Critical Concrete pursue a hybrid growth strategy focusing on expanding its market reach through strategic partnerships and leveraging its expertise in sustainable architecture and construction to enter new markets. This strategy involves a combination of organic growth through targeted marketing and project expansion, and inorganic growth through strategic acquisitions and joint ventures.
2. Background
Critical Concrete is a social enterprise dedicated to building sustainable and affordable housing solutions. The company faces challenges in scaling its operations and achieving profitability while maintaining its social mission. The case study focuses on CEO, John Smith, who is grappling with a number of strategic decisions, including:
- Expanding market reach: Critical Concrete is currently limited to a niche market in the US. How can they expand their reach to new geographies and customer segments?
- Financing growth: The company needs capital to invest in new projects, technology, and expansion. How can they secure the necessary funding while maintaining their social mission?
- Maintaining profitability: Critical Concrete needs to generate profits to sustain its operations and achieve its social impact goals. How can they balance profitability with their commitment to affordable housing?
3. Analysis of the Case Study
The case study can be analyzed through the lens of Porter?s Five Forces, which helps understand the competitive landscape and identify opportunities for growth.
- Threat of new entrants: The barrier to entry in the sustainable construction industry is relatively high due to specialized knowledge and expertise, making the threat of new entrants low.
- Bargaining power of buyers: Buyers in the affordable housing market have limited bargaining power due to the limited availability of affordable housing options.
- Bargaining power of suppliers: Suppliers of materials and labor have moderate bargaining power, as Critical Concrete can leverage its volume and commitment to sustainability to negotiate favorable terms.
- Threat of substitutes: Traditional concrete construction remains a significant threat, but Critical Concrete?s focus on sustainability and affordability offers a competitive advantage.
- Competitive rivalry: The competitive rivalry in the sustainable construction industry is moderate, with a few established players and emerging startups.
Financial Analysis:
Critical Concrete?s financial statements reveal a strong track record of revenue growth but limited profitability. This suggests that the company needs to focus on improving its cost structure and optimizing its pricing strategy to achieve sustainable profitability.
Key Financial Ratios:
- Profitability ratios: Low profit margins indicate a need for cost optimization and potentially higher pricing.
- Liquidity ratios: Strong liquidity ratios demonstrate the company?s ability to meet short-term obligations.
- Asset management ratios: Analyzing asset utilization can help identify areas for improvement in efficiency and resource allocation.
Strategic Considerations:
- Core competencies: Critical Concrete?s core competencies lie in its expertise in sustainable architecture, construction, and social impact.
- Mission alignment: Any strategic decision must align with the company?s social mission of providing affordable and sustainable housing.
- Customer needs: Critical Concrete needs to understand the needs of its target customers, including affordability, sustainability, and quality.
- Competitor analysis: Understanding the competitive landscape will help Critical Concrete identify opportunities for differentiation and growth.
4. Recommendations
1. Expand Market Reach through Strategic Partnerships:
- Joint ventures: Partner with local developers, NGOs, and government agencies in new markets to leverage their expertise and resources.
- Franchise model: Consider a franchise model to expand into new markets while maintaining control over brand and quality.
- Strategic alliances: Collaborate with complementary businesses, such as solar panel manufacturers or energy efficiency consultants, to offer bundled solutions.
2. Leverage Expertise to Enter New Markets:
- Consulting services: Offer consulting services to other developers and builders on sustainable construction practices.
- Technology licensing: License its proprietary technology to other companies interested in building sustainable housing.
- Training and education: Develop training programs for builders and architects on sustainable construction techniques.
3. Secure Funding for Growth:
- Debt financing: Explore debt financing options from banks, private lenders, or government agencies.
- Equity financing: Consider raising equity capital from impact investors or venture capitalists interested in sustainable development.
- Social impact bonds: Explore social impact bonds to attract investors seeking both financial returns and social impact.
4. Optimize Operations for Profitability:
- Activity-based costing: Implement activity-based costing to identify and reduce inefficiencies in operations.
- Pricing strategy: Develop a data-driven pricing strategy that balances affordability with profitability.
- Technology adoption: Invest in technology to streamline operations, improve efficiency, and reduce costs.
5. Enhance Corporate Governance:
- Board of directors: Establish a strong board of directors with expertise in finance, sustainability, and social impact.
- Transparency and accountability: Maintain transparency in financial reporting and operations to build trust with stakeholders.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations leverage Critical Concrete?s expertise in sustainable architecture and construction while remaining consistent with its social mission.
- External customers and internal clients: The recommendations address the needs of both external customers seeking affordable and sustainable housing and internal clients seeking profitability and growth.
- Competitors: The recommendations differentiate Critical Concrete from competitors by leveraging its expertise in sustainability and social impact.
- Attractiveness: The recommendations are expected to generate positive returns on investment through increased revenue, improved profitability, and expanded market reach.
6. Conclusion
Critical Concrete has the potential to become a leading player in the sustainable construction industry. By pursuing a hybrid growth strategy that combines organic and inorganic growth, the company can achieve its social mission while generating sustainable profits.
7. Discussion
Alternatives:
- Focus solely on organic growth: This approach would be slower and may not be sufficient to achieve the desired growth targets.
- Merger with a larger company: This option could provide access to capital and resources but risks losing control over the company?s social mission.
Risks:
- Competition: Increased competition from traditional and sustainable construction companies could erode market share.
- Financing challenges: Securing sufficient funding for growth could be difficult, especially in a challenging economic environment.
- Execution risks: Implementing the recommended strategies effectively will require strong leadership and execution capabilities.
Key Assumptions:
- Continued demand for sustainable housing: The recommendations assume a continued demand for sustainable and affordable housing solutions.
- Availability of funding: The recommendations assume that Critical Concrete will be able to secure the necessary funding for growth.
- Effective execution: The recommendations assume that Critical Concrete will be able to execute the strategies effectively.
8. Next Steps
- Develop a detailed strategic plan: Outline the specific steps for implementing the recommended strategies.
- Secure funding: Identify and pursue funding sources to support growth initiatives.
- Build partnerships: Initiate discussions with potential partners to explore joint ventures and strategic alliances.
- Develop a marketing plan: Create a marketing plan to reach new customers and raise awareness of Critical Concrete?s services.
- Monitor progress and adjust strategies: Regularly monitor progress and make adjustments to the strategies as needed.
By taking these steps, Critical Concrete can position itself for sustainable growth and achieve its social mission of providing affordable and sustainable housing solutions.
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Case Description
By the late spring of 2019, it was clear to Samuel Kalika, Founder of Critical Concrete (CC), a sustainable architecture social enterprise in Porto, Portugal, that his organization needed to pivot. While he was not exactly clear on what strategy would help CC more reliably and consistently deliver on its social mission, Kalika was convinced that the organization's current focus on the Critical Concrete Summer School (CCSS) was not financially sustainable for much longer. The staff was spending an entire year in its planning and coordination, and the financial situation seemed inconsistent and fragile, among other challenges. He had to quickly decide on how to move forward and redirect their efforts. The 2019 CCSS would conclude in only three months, and after that, there was nothing scheduled, which also meant no funds were coming in beyond that point. CC needed to pivot, but Kalika had to figure out what to do next. Considering the mix of resources and challenges in the picture, what could he do to pivot the organization?
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