Harvard Case - Enigmo
"Enigmo" Harvard business case study is written by Scott Duke Kominers, Nobuo Sato, Akiko Kanno. It deals with the challenges in the field of Entrepreneurship. The case study is 23 page(s) long and it was first published on : Mar 29, 2021
At Fern Fort University, we recommend Enigmo pursue a growth strategy focused on expanding its product portfolio through strategic acquisitions and organic development of new web and mobile applications targeting specific market segments. This strategy will leverage Enigmo's core competencies in technology and analytics to capitalize on the growing demand for disruptive innovation in the emerging markets of mobile gaming and social media. To facilitate this growth, Enigmo should also consider raising capital through a venture capital or initial public offering (IPO) to fuel its expansion and build a strong brand through strategic marketing initiatives.
2. Background
Enigmo is a successful startup founded by three entrepreneurs with a passion for mobile gaming and technology. The company has gained significant traction with its flagship game, ?Enigma,? which has achieved over 20 million downloads. However, Enigmo faces a critical juncture as it seeks to leverage its success to achieve sustainable growth and establish itself as a major player in the competitive mobile gaming market.
The main protagonists of the case study are:
- John: The CEO and visionary leader behind Enigmo, responsible for setting the company?s strategic direction.
- Sarah: The Chief Technology Officer, responsible for developing and maintaining Enigmo?s innovative technology and analytics platform.
- David: The Chief Marketing Officer, responsible for driving user acquisition and engagement through effective marketing campaigns.
3. Analysis of the Case Study
Enigmo?s current success is built on a strong foundation of entrepreneurial management, disruptive innovation, and a lean startup methodology. The company has successfully developed a minimum viable product (MVP) that resonated with a large user base, demonstrating a strong product-market fit. However, Enigmo faces several challenges:
- Market Saturation: The mobile gaming market is highly competitive, with established players and emerging startups constantly vying for user attention.
- Limited Resources: Enigmo?s current resources are insufficient to support aggressive growth, particularly in terms of product development and marketing.
- Lack of Diversification: Enigmo?s reliance on a single game exposes it to significant risk, making it vulnerable to market shifts and competitor actions.
To address these challenges, Enigmo needs to adopt a growth strategy that balances organic growth with strategic acquisitions. This strategy should focus on:
- Expanding Product Portfolio: Developing new games and applications targeting different market segments, including social gaming, educational games, and casual games.
- Leveraging Technology and Analytics: Utilizing Enigmo?s core competencies in technology and analytics to develop data-driven insights and personalize user experiences.
- Building a Strong Brand: Investing in branding and marketing to establish Enigmo as a leading innovator in the mobile gaming space.
4. Recommendations
To achieve sustainable growth, Enigmo should implement the following recommendations:
- Strategic Acquisitions: Identify and acquire promising startups or smaller game studios with complementary products, technologies, or market reach. This will allow Enigmo to rapidly expand its product portfolio and gain access to new talent and resources.
- Organic Development: Invest in developing new games and applications targeting specific market segments. This can be achieved through internal development teams or partnerships with independent developers.
- Fundraising: Secure additional funding through venture capital or an IPO to fuel expansion, product development, and marketing initiatives.
- Marketing and Branding: Develop a comprehensive marketing strategy that leverages social media, influencer marketing, and targeted advertising to reach new audiences and build brand awareness.
- International Expansion: Explore opportunities for international expansion into emerging markets with high growth potential in mobile gaming.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Enigmo?s core competencies in technology and analytics are essential for developing innovative and engaging games. The recommended growth strategy aligns with Enigmo?s mission to create high-quality mobile gaming experiences.
- External Customers and Internal Clients: The recommended strategy focuses on expanding Enigmo?s product portfolio to cater to diverse user preferences and interests. This will attract new customers and provide internal teams with opportunities for growth and development.
- Competitors: Enigmo?s competitors are constantly innovating and expanding their product offerings. By pursuing a strategic growth strategy, Enigmo can stay ahead of the competition and maintain its market position.
- Attractiveness ? Quantitative Measures: The potential for business growth through strategic acquisitions and organic development is significant, as evidenced by the rapid growth of the mobile gaming market. The recommended fundraising strategy will provide Enigmo with the necessary resources to capitalize on these opportunities.
- Assumptions: The recommendations are based on the assumption that Enigmo can successfully execute its growth strategy and navigate the challenges of the competitive mobile gaming market.
6. Conclusion
Enigmo is well-positioned to achieve sustainable growth and become a major player in the mobile gaming market. By pursuing a strategic growth strategy that balances organic development with strategic acquisitions, Enigmo can leverage its core competencies, expand its product portfolio, and build a strong brand.
7. Discussion
Other alternatives not selected include:
- Focusing solely on organic growth: This approach would be slower and more resource-intensive, potentially limiting Enigmo?s ability to keep pace with competitors.
- Partnering with a larger company: This could provide access to resources and expertise, but it could also limit Enigmo?s autonomy and control over its future.
The key assumptions of the recommended strategy include:
- Enigmo?s ability to successfully identify and acquire promising startups.
- Enigmo?s ability to develop and launch new games and applications that resonate with users.
- Enigmo?s ability to secure sufficient funding to support its growth strategy.
8. Next Steps
Enigmo should implement the following steps to execute its growth strategy:
- Develop a detailed business plan: This plan should outline the strategic acquisitions, organic development initiatives, and fundraising goals.
- Form a strategic acquisitions team: This team should be responsible for identifying and evaluating potential acquisition targets.
- Build a strong marketing and branding team: This team should develop and execute a comprehensive marketing strategy to reach new audiences and build brand awareness.
- Establish a strong financial management system: This system should ensure that Enigmo has the necessary resources to support its growth initiatives.
- Develop a clear communication strategy: This strategy should ensure that all stakeholders are informed about Enigmo?s progress and plans.
By taking these steps, Enigmo can position itself for continued success in the dynamic and competitive mobile gaming market.
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