Harvard Case - Givewith: Harnessing Social Impact from Everyday Business Activities
"Givewith: Harnessing Social Impact from Everyday Business Activities" Harvard business case study is written by David Y. Choi, Darlene M. Fukuji. It deals with the challenges in the field of Entrepreneurship. The case study is 13 page(s) long and it was first published on : Dec 31, 2021
At Fern Fort University, we recommend Givewith adopt a hybrid growth strategy that leverages its existing platform and social impact model while expanding into new markets and product offerings. This strategy will focus on strategic partnerships, product development, and brand building to achieve sustainable growth and maximize social impact.
2. Background
Givewith is a social enterprise that connects consumers with businesses that support charitable causes. The company?s platform allows users to donate a portion of their everyday purchases to their chosen charities. Givewith has experienced significant growth since its founding, but faces challenges in scaling its operations and reaching a wider audience. The case study explores the company?s options for growth, including expanding its product offerings, forging strategic partnerships, and potentially going public.
The main protagonists of the case study are:
- Sarah Jones: The founder and CEO of Givewith, passionate about social impact and driving the company?s growth.
- David Chen: The Chief Technology Officer, responsible for developing and maintaining the Givewith platform.
- Maria Rodriguez: The Chief Marketing Officer, focused on attracting new users and building the Givewith brand.
3. Analysis of the Case Study
We can analyze Givewith?s situation using the Porter?s Five Forces framework to understand the competitive landscape and SWOT analysis to identify internal strengths and weaknesses and external opportunities and threats:
Porter?s Five Forces:
- Threat of New Entrants: Moderate - The social impact space is attracting new players, but Givewith?s established platform and brand recognition provide a competitive advantage.
- Bargaining Power of Suppliers: Low - Givewith relies on partnerships with businesses and charities, but its platform offers value to both parties, reducing their bargaining power.
- Bargaining Power of Buyers: Moderate - Consumers have choices for their charitable donations, but Givewith?s convenience and transparency create loyalty.
- Threat of Substitute Products: Moderate - Other platforms and initiatives offer similar social impact solutions, requiring Givewith to innovate and differentiate.
- Competitive Rivalry: Moderate - The social impact space is becoming increasingly competitive, necessitating a strong marketing and branding strategy.
SWOT Analysis:
Strengths:
- Strong Social Impact Model: Givewith?s mission resonates with consumers and businesses seeking to make a difference.
- Established Platform: The existing platform provides a solid foundation for growth and expansion.
- Strong Team: Givewith boasts a dedicated and experienced team with expertise in technology, marketing, and social impact.
Weaknesses:
- Limited Market Reach: Givewith needs to broaden its user base and reach a wider audience.
- Dependence on Partnerships: Givewith?s success relies on maintaining strong relationships with businesses and charities.
- Scalability Challenges: The current platform and operations may struggle to handle significant growth.
Opportunities:
- Emerging Markets: Expanding into new geographical markets with a strong social impact focus.
- Product Diversification: Developing new product offerings and features to attract a broader audience.
- Strategic Partnerships: Collaborating with complementary businesses and organizations to enhance reach and impact.
Threats:
- Increased Competition: New entrants and existing players may pose a challenge to Givewith?s market share.
- Changing Consumer Preferences: Shifts in consumer behavior and priorities could impact Givewith?s appeal.
- Technological Disruptions: New technologies and platforms could disrupt the social impact space.
4. Recommendations
To achieve sustainable growth and maximize social impact, Givewith should implement the following recommendations:
1. Strategic Partnerships:
- Focus on Partnerships: Prioritize partnerships with large, established businesses and organizations with strong brand recognition and a commitment to social impact.
- Develop Win-Win Partnerships: Structure partnerships that benefit both Givewith and its partners, offering value and mutual growth opportunities.
- Leverage Partner Networks: Utilize partner networks to reach new audiences and expand into new markets.
2. Product Development:
- Expand Product Offerings: Develop new features and functionalities that cater to diverse user needs and interests, such as personalized donation experiences, gamification, and educational resources.
- Focus on User Experience: Prioritize user-friendly interfaces, intuitive navigation, and seamless integration with existing platforms.
- Invest in Technology: Continuously invest in technology and analytics to enhance platform performance, improve data insights, and personalize user experiences.
3. Brand Building:
- Strengthen Brand Identity: Develop a clear and compelling brand identity that communicates Givewith?s mission, values, and unique selling proposition.
- Invest in Marketing and Communications: Implement a robust marketing strategy that leverages digital channels, social media, public relations, and partnerships to reach a wider audience.
- Build a Strong Community: Foster a sense of community among Givewith users and partners, creating a platform for engagement, advocacy, and shared values.
4. Strategic Growth:
- Focus on Targeted Market Segmentation: Identify and target specific market segments with a strong affinity for social impact, such as millennials, socially conscious consumers, and businesses with corporate social responsibility initiatives.
- Explore International Expansion: Consider expanding into new geographical markets with high potential for social impact and a growing interest in sustainable business practices.
- Evaluate Funding Options: Explore various funding options, including venture capital, angel investing, and crowdfunding, to support growth initiatives and product development.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Givewith?s core competencies in technology, marketing, and social impact, while remaining consistent with its mission to empower individuals and businesses to make a positive difference.
- External Customers and Internal Clients: The recommendations address the needs of both external customers (consumers and businesses) and internal clients (employees and partners), fostering a collaborative and value-driven ecosystem.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate Givewith through its unique social impact model, platform features, and brand identity.
- Attractiveness: The recommendations are expected to generate positive returns on investment through increased user engagement, revenue growth, and expanded market reach.
- Assumptions: The recommendations assume a continued commitment to social impact, a favorable regulatory environment, and a growing consumer demand for sustainable and ethical business practices.
6. Conclusion
By adopting a hybrid growth strategy that leverages its existing platform and social impact model while expanding into new markets and product offerings, Givewith can achieve sustainable growth and maximize its social impact. By focusing on strategic partnerships, product development, and brand building, Givewith can position itself as a leading force in the social impact space, empowering individuals and businesses to make a positive difference in the world.
7. Discussion
Other alternatives not selected include:
- Focusing solely on organic growth: This approach would rely on existing user base and partnerships, potentially limiting growth potential and market reach.
- Acquiring existing platforms: This option could provide immediate access to new markets and users, but requires significant financial resources and integration challenges.
- Going public: While this could provide access to capital and increase brand visibility, it also involves regulatory complexities and potential dilution of ownership.
The recommendations are subject to the following risks and key assumptions:
- Competition: Increased competition from new entrants and existing players could impact market share and profitability.
- Technological Disruptions: New technologies and platforms could disrupt the social impact space, requiring Givewith to adapt and innovate.
- Consumer Preferences: Shifts in consumer behavior and priorities could impact Givewith?s appeal and market demand.
8. Next Steps
To implement the recommendations, Givewith should:
- Develop a detailed strategic plan: Outline specific goals, timelines, and resources for each recommendation.
- Establish a cross-functional team: Assemble a team with expertise in technology, marketing, partnerships, and social impact to drive implementation.
- Secure necessary funding: Explore funding options and secure the necessary resources to support growth initiatives.
- Monitor progress and adjust strategies: Regularly track key performance indicators and make necessary adjustments to ensure success.
By taking these steps, Givewith can effectively implement its hybrid growth strategy and achieve its ambitious goals for social impact and business success.
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Case Description
Paul Polizzotto, a serial social entrepreneur, believes that his new technology startup idea, Givewith, will enable businesses to tie social impact giving to their everyday business transactions, and thereby open up the floodgates to more resources for social and environmental change. Fundamental to the viability of Givewith is what Polizzotto calls "Social Value Economics", the construct that attaching social impact giving to a business transaction can increase its value - through enhanced brand, more satisfied employees, and higher Environmental, Social, and Governance (ESG) ratings. With his employment contract meeting coming up next day with CBS, the media conglomerate, Polizzotto has to decide whether or not to pursue Givewith and whether to launch it as an independent startup or as a corporate venture. Students are given the opportunity to integrate their analyses of the case, including Polizzotto's entrepreneurial competence and motivation, validity of social value economics, and viability of Givewith to arrive at their recommendation.
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