Harvard Case - Encompass: Creating Innovation in Broadcast, Everyday (A)
"Encompass: Creating Innovation in Broadcast, Everyday (A)" Harvard business case study is written by Arnoud De Meyer, Anne-Valerie Ohlsson. It deals with the challenges in the field of Entrepreneurship. The case study is 11 page(s) long and it was first published on : Jul 12, 2019
At Fern Fort University, we recommend Encompass pursue a hybrid growth strategy that leverages its existing strengths in broadcast technology and analytics while aggressively expanding into the rapidly evolving digital media landscape. This strategy involves a combination of organic growth through product development and market expansion, strategic acquisitions to bolster its technology stack and market reach, and strategic partnerships to access new markets and customer segments.
2. Background
Encompass is a leading provider of broadcast technology and analytics solutions, serving a wide range of clients in the media and entertainment industry. The company faces a critical juncture as traditional broadcast models are disrupted by the rise of digital media platforms and streaming services. The case study focuses on Encompass?s CEO, David, who is navigating the challenges of navigating this disruptive landscape and seeking to position the company for future growth.
The main protagonists are:
- David: CEO of Encompass, tasked with charting the company?s future in a rapidly changing industry.
- The Encompass Leadership Team: Responsible for operational decisions and execution of the chosen strategy.
- The Encompass Engineering and Product Development Team: Responsible for innovating and developing new solutions to meet evolving market needs.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand reputation: Encompass has a long history and established reputation in the broadcast industry.
- Deep technical expertise: Possesses a strong team of engineers and developers with deep expertise in broadcast technology and analytics.
- Strong customer relationships: Encompass enjoys strong relationships with major broadcasters and media companies.
- Financial stability: The company is financially sound and has the resources to invest in growth initiatives.
Weaknesses:
- Limited digital presence: Encompass has a limited presence in the rapidly growing digital media landscape.
- Slow to adapt to new technologies: The company has been slow to embrace emerging technologies like cloud computing and artificial intelligence.
- Lack of agility: The company?s traditional organizational structure and processes can hinder its ability to respond quickly to market changes.
Opportunities:
- Growing digital media market: The digital media market is growing rapidly, offering significant opportunities for expansion.
- Emerging technologies: New technologies like cloud computing, artificial intelligence, and blockchain have the potential to revolutionize the broadcast industry.
- International expansion: Encompass can expand its reach into new international markets.
Threats:
- Competition from digital media companies: Encompass faces competition from tech giants like Google, Amazon, and Netflix, who are rapidly expanding into the broadcast space.
- Technological disruption: New technologies could disrupt the traditional broadcast industry, rendering Encompass?s existing solutions obsolete.
- Economic downturn: A global economic downturn could negatively impact the media and entertainment industry, leading to reduced spending on broadcast technology.
Porter?s Five Forces Analysis:
- Threat of new entrants: High due to the ease of entry in the digital media space and the availability of cloud-based solutions.
- Bargaining power of buyers: High due to the increasing number of media platforms and the availability of alternative solutions.
- Bargaining power of suppliers: Moderate due to the availability of specialized technology providers.
- Threat of substitute products: High due to the availability of alternative media platforms and content delivery methods.
- Rivalry among existing competitors: High due to the presence of established players and the emergence of new competitors in the digital media space.
Key Issues:
- Maintaining relevance in a rapidly changing industry: Encompass must adapt to the changing media landscape and embrace new technologies to remain competitive.
- Expanding into the digital media market: Encompass needs to develop a strategy to compete in the digital media market, which requires a different approach than traditional broadcast.
- Developing a growth strategy: Encompass needs to develop a clear and actionable growth strategy that addresses the challenges and opportunities it faces.
4. Recommendations
1. Embrace Digital Transformation:
- Invest in cloud-based solutions: Migrate existing solutions to the cloud to improve scalability, flexibility, and cost-effectiveness.
- Develop a comprehensive digital media strategy: Focus on developing solutions for digital platforms, including streaming services, online video platforms, and social media.
- Invest in artificial intelligence and machine learning: Leverage these technologies to automate tasks, improve efficiency, and enhance customer experiences.
- Build a strong digital marketing presence: Develop a robust digital marketing strategy to reach new customers and build brand awareness.
2. Strategic Acquisitions and Partnerships:
- Acquire complementary technology companies: Identify and acquire companies that possess specialized technologies or expertise in areas where Encompass is lacking.
- Form strategic partnerships with digital media companies: Collaborate with digital media platforms to integrate Encompass?s solutions and reach new audiences.
- Expand into international markets: Partner with local companies or acquire existing businesses in key international markets.
3. Product Development and Innovation:
- Develop new solutions for digital media platforms: Focus on developing solutions that meet the specific needs of digital media platforms, including content management, analytics, and monetization.
- Invest in research and development: Continuously invest in R&D to stay ahead of the technological curve and develop innovative solutions.
- Embrace a lean startup methodology: Develop and test new solutions quickly and iteratively to ensure they meet market needs.
4. Organizational Change:
- Foster a culture of innovation: Encourage experimentation, risk-taking, and collaboration to drive innovation.
- Develop a more agile organizational structure: Empower teams to make decisions and respond quickly to market changes.
- Invest in employee training and development: Provide employees with the skills and knowledge they need to adapt to the changing media landscape.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Encompass?s core competencies in broadcast technology and analytics while expanding its capabilities to address the evolving media landscape.
- External customers and internal clients: The recommendations focus on meeting the needs of both existing and potential customers in the broadcast and digital media industries.
- Competitors: The recommendations are designed to help Encompass compete effectively with established players and new entrants in the digital media space.
- Attractiveness ? quantitative measures if applicable (e.g., NPV, ROI, break-even, payback): The recommendations are expected to generate a positive return on investment over the long term, although specific financial projections would require further analysis.
- Assumptions: The recommendations assume that Encompass has the resources and commitment to execute the proposed changes and that the digital media market will continue to grow.
6. Conclusion
By embracing digital transformation, pursuing strategic acquisitions and partnerships, investing in product development and innovation, and adapting its organizational structure, Encompass can successfully navigate the challenges and opportunities of the evolving media landscape. This hybrid growth strategy will enable the company to maintain its leadership position in the broadcast industry while expanding its reach into the rapidly growing digital media market.
7. Discussion
Alternatives not selected:
- Focusing solely on traditional broadcast: This approach would likely lead to a decline in market share as the digital media market continues to grow.
- Selling the company to a larger digital media company: This option would likely result in Encompass losing its independence and potentially losing its core competencies.
Risks and key assumptions:
- Execution risk: Encompass may not be able to successfully execute the proposed changes due to internal resistance or lack of resources.
- Market risk: The digital media market may not grow as expected, or new technologies may emerge that disrupt the industry.
- Competition risk: Encompass may face intense competition from established players and new entrants in the digital media space.
Options Grid:
| Option | Advantages | Disadvantages | Risks | Assumptions |
|---|---|---|---|---|
| Hybrid Growth Strategy | Maintains relevance in both traditional and digital media, leverages existing strengths, allows for flexibility and adaptation | Requires significant investment, complex to implement, potential for integration challenges | Execution risk, market risk, competition risk | Encompass has the resources and commitment to execute the proposed changes, the digital media market will continue to grow |
| Focus on Traditional Broadcast | Leverages existing expertise and customer relationships, lower investment required | Limited growth potential, risks losing market share to digital media companies | Market risk, competition risk | Traditional broadcast market remains stable |
| Sell the company to a larger digital media company | Quick access to resources and market reach, potential for higher valuation | Loss of independence, potential loss of core competencies | Integration risk, loss of control | A suitable buyer can be found |
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and resources required to execute the recommendations.
- Secure necessary funding: Identify and secure the financial resources required to invest in new technologies, acquisitions, and partnerships.
- Build a strong leadership team: Ensure that the leadership team has the experience and expertise to navigate the changing media landscape.
- Communicate the strategy to employees: Clearly communicate the strategy to employees and engage them in the implementation process.
- Monitor progress and adapt as needed: Continuously monitor progress and make adjustments to the strategy as needed to address changing market conditions and emerging technologies.
By taking these steps, Encompass can position itself for success in the evolving media landscape and create a sustainable future for the company.
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Case Description
This is a two-part case series. Case A begins in October 2012, when Encompass Singapore has introduced innovative ways to increase the capacity of its facility to cope with its fierce growth over the past few years in the Pay-tv industry. The company has captured over 50% of the market for outsourced digital playout services in Asia. The sheer speed of growth that Encompass Singapore is experiencing calls for an innovative, solutions-driven approach to almost all aspects of the business. Growth in the media industry is costly and capital intensive. At the same time, the group is facing increased competition. Process innovation has been critical in supporting the growth of the company since 2009, but can that alone continue to fuel double-digit growth? Case B is set in April 2019, when the media industry has shifted gear, and Pay-tv demand is declining. Online television content and Video on Demand services have instead started to see a growing demand in the market and Encompass is forced to adjust its strategy to cope with changing industry and market. Can process innovation continue to support the growth of the company amidst technology disruption and changing trends? What can be Encompass's growth strategy moving forward?
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