Harvard Case - Privatization of the Tiger Leaping House in Nanjing, PRC
"Privatization of the Tiger Leaping House in Nanjing, PRC" Harvard business case study is written by Stephen Grainger. It deals with the challenges in the field of Entrepreneurship. The case study is 6 page(s) long and it was first published on : Mar 8, 2011
At Fern Fort University, we recommend a phased approach to privatizing the Tiger Leaping House in Nanjing, PRC, prioritizing a sustainable business model that balances cultural preservation with economic viability. This strategy involves leveraging entrepreneurship and innovation to create a compelling visitor experience while ensuring the long-term financial health of the site.
2. Background
The Tiger Leaping House, a historic landmark in Nanjing, faces the challenge of balancing its cultural significance with financial sustainability. The Nanjing Municipal Government seeks to privatize the site, aiming to attract a private entity capable of revitalizing the house and generating revenue. This case study examines the potential for a private operator to successfully manage the Tiger Leaping House, considering its cultural and historical value, potential market opportunities, and the complexities of operating a heritage site in a rapidly developing city.
The main protagonists are the Nanjing Municipal Government, seeking to find a suitable private partner, and potential private operators interested in taking on the responsibility of managing and preserving the Tiger Leaping House.
3. Analysis of the Case Study
To analyze the case, we utilize the Porter Five Forces Framework to understand the competitive landscape and the Business Model Canvas to assess the potential business model for the Tiger Leaping House.
Porter Five Forces Analysis:
- Threat of New Entrants: The barrier to entry is high due to the cultural and historical significance of the site, requiring significant investment and expertise in heritage preservation.
- Bargaining Power of Buyers: Visitors have limited bargaining power as the Tiger Leaping House offers a unique cultural experience.
- Bargaining Power of Suppliers: The bargaining power of suppliers is moderate, as the site relies on local suppliers for services and materials.
- Threat of Substitutes: There are limited substitutes for the unique cultural experience offered by the Tiger Leaping House.
- Competitive Rivalry: Competition is moderate, with other historical sites and cultural attractions in Nanjing.
Business Model Canvas:
- Value Propositions: The Tiger Leaping House offers a unique cultural experience, historical significance, and educational opportunities.
- Customer Segments: The target audience includes domestic and international tourists, history enthusiasts, and local residents.
- Channels: Online booking platforms, travel agencies, and local partnerships can be utilized to reach potential visitors.
- Customer Relationships: Building a strong brand reputation and engaging visitors through interactive experiences are crucial.
- Revenue Streams: Ticket sales, merchandise, guided tours, events, and partnerships with local businesses can generate revenue.
- Key Activities: Heritage preservation, visitor management, marketing, and event planning are essential activities.
- Key Resources: The Tiger Leaping House itself, skilled staff, and technology infrastructure are key resources.
- Key Partnerships: Collaborations with local businesses, cultural organizations, and government agencies are valuable.
- Cost Structure: Operating costs include maintenance, staff salaries, marketing, and technology investments.
4. Recommendations
To successfully privatize the Tiger Leaping House, we recommend the following phased approach:
Phase 1: Initial Assessment and Feasibility Study:
- Conduct a comprehensive market analysis: Identify target customer segments, analyze competitor offerings, and assess potential market size and growth.
- Develop a detailed business plan: Outline the proposed business model, revenue projections, and financial feasibility.
- Engage with local stakeholders: Build relationships with government officials, cultural organizations, and local communities to ensure support for the project.
Phase 2: Revitalization and Development:
- Invest in heritage preservation: Implement a comprehensive plan to restore and maintain the Tiger Leaping House, adhering to historical preservation standards.
- Enhance visitor experience: Create engaging exhibits, interactive displays, and educational programs to enrich the visitor experience.
- Develop a digital strategy: Utilize technology and analytics to improve visitor management, enhance marketing efforts, and create online experiences.
Phase 3: Marketing and Operations:
- Implement a multi-channel marketing strategy: Leverage online platforms, travel agencies, and local partnerships to reach target audiences.
- Develop a strong brand identity: Create a compelling brand narrative that highlights the unique cultural and historical significance of the Tiger Leaping House.
- Optimize operations: Employ efficient visitor management systems, staff training programs, and technology solutions to enhance operational efficiency.
Phase 4: Expansion and Sustainability:
- Explore partnerships and collaborations: Seek partnerships with local businesses, cultural organizations, and educational institutions to expand offerings and generate revenue.
- Develop new revenue streams: Explore opportunities for merchandise sales, event hosting, and educational programs to diversify revenue sources.
- Implement sustainable practices: Incorporate environmental sustainability measures to minimize the site?s environmental impact.
5. Basis of Recommendations
These recommendations consider the following:
- Core competencies and consistency with mission: The recommendations prioritize heritage preservation, visitor experience, and financial sustainability, aligning with the mission of the Tiger Leaping House.
- External customers and internal clients: The recommendations cater to the needs of diverse customer segments, including tourists, history enthusiasts, and local residents, while ensuring the satisfaction of internal clients, including staff and partners.
- Competitors: The recommendations aim to differentiate the Tiger Leaping House from competitors by offering a unique cultural experience, leveraging technology, and fostering strong community relationships.
- Attractiveness ? quantitative measures if applicable: The recommendations are based on a comprehensive business plan, including revenue projections, cost analysis, and financial feasibility studies.
6. Conclusion
By adopting a phased approach, leveraging entrepreneurship and innovation, and embracing a sustainable business model, the Tiger Leaping House can be successfully privatized, ensuring its long-term preservation and financial viability. This approach will attract visitors, generate revenue, and contribute to the cultural and economic development of Nanjing.
7. Discussion
Alternative approaches include solely focusing on cultural preservation, neglecting financial sustainability, or adopting a purely commercial approach, potentially compromising the site?s historical integrity. However, these approaches carry risks of financial instability, limited visitor engagement, and potential damage to the site?s cultural value.
Key assumptions include the availability of qualified investors, the successful implementation of a comprehensive business plan, and the continued support of local stakeholders. These assumptions require careful consideration and mitigation strategies to ensure the success of the privatization project.
8. Next Steps
The Nanjing Municipal Government should initiate a competitive bidding process, inviting qualified private operators to submit proposals outlining their plans for the Tiger Leaping House. The government should evaluate proposals based on their financial viability, commitment to heritage preservation, and ability to create a compelling visitor experience. Once a suitable partner is selected, a detailed implementation plan should be developed, outlining timelines, milestones, and performance indicators.
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Case Description
The Liang family, experienced family hoteliers in China, had to leave the mainland under the pressure of the forces of Chairman Mao and the CCP in 1949. They resettled in Taiwan, resumed their hospitality business and now, two generations later, have returned to Nanjing to find their family's old guest house has been allowed to run down and deteriorate as a Chinese state-owned enterprise (SoE). They repurchase the old guest house with the intention to redevelop. How will they deal with this privatization and the inevitable bureaucracy of purchasing, demolition and rebuilding the old guest house? How will they convert the existing SoE human resources (trained under planned economy conditions) into dynamic employees operating in the market economy while being sensitive to the cultural characteristics and challenges of this mainland Chinese workplace? With more than 6,000 Chinese SoEs still being targeted for privatization, this case is very relevant and provides a real world opportunity for students to exercise their research, analytical, international management, entrepreneurial and cross-cultural management skills.
This case is best used in a unit after the topics of international human resource management, culture and international management have been covered. Such positions may include 1) as a closing case in an international management unit of study 2) as a human resource management case in an international human resource management or international management unit of study 3) as a challenge in an entrepreneurial unit of study or 4) as a mid-unit or closing case in a strategic management unit of study.
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