Harvard Case - Raksul
"Raksul" Harvard business case study is written by Scott Duke Kominers, Masahiro Kotosaka, Nobuo Sato, Akiko Kanno. It deals with the challenges in the field of Entrepreneurship. The case study is 21 page(s) long and it was first published on : Apr 1, 2019
At Fern Fort University, we recommend Raksul prioritize a multi-pronged growth strategy focused on expanding its international presence, particularly in emerging markets, while simultaneously leveraging technology and analytics to enhance its existing business model and product offerings. This strategy should be accompanied by a culture of innovation that fosters entrepreneurial spirit within the organization, enabling Raksul to capitalize on the vast potential of the global e-commerce market.
2. Background
Raksul is a Japanese company that has successfully disrupted the traditional printing and logistics industry through its innovative web-based platform and technology-driven approach. The company?s core business revolves around connecting businesses with printing and logistics services, offering a more efficient and cost-effective solution compared to traditional methods. Raksul?s success can be attributed to its entrepreneurial spirit, disruptive innovation, and focus on leveraging technology.
The case study focuses on Raksul?s decision to go public in 2012, which provided the company with access to capital and increased visibility. However, the company faces challenges in maintaining its growth trajectory in a rapidly evolving market. The case study explores different options for Raksul?s future, including expansion into new markets, development of new products and services, and strategic partnerships.
Main Protagonists:
- Yohei Abe: Founder and CEO of Raksul, a visionary entrepreneur with a strong focus on technology and innovation.
- Raksul Management Team: Responsible for guiding the company?s strategic direction and overseeing its operations.
3. Analysis of the Case Study
Strategic Analysis:
- Porter?s Five Forces: The printing and logistics industry is characterized by high competition due to the presence of several players, including traditional printing companies, logistics providers, and online marketplaces. However, Raksul?s disruptive innovation and technology-driven approach have given it a competitive advantage.
- SWOT Analysis:
- Strengths: Strong brand recognition, innovative technology platform, strong financial position, experienced management team.
- Weaknesses: Limited international presence, potential for increased competition, reliance on technology for operational efficiency.
- Opportunities: Expanding into new markets, developing new products and services, leveraging strategic partnerships.
- Threats: Economic downturn, changing consumer behavior, technological disruption.
Financial Analysis:
- Going public provided Raksul with access to venture capital and funding for growth.
- The company?s financial performance has been strong, with consistent revenue growth and profitability.
- Raksul?s financial position is sound, with ample cash reserves and a low debt-to-equity ratio.
Marketing Analysis:
- Raksul?s marketing strategy has been successful in attracting businesses to its platform.
- The company relies heavily on digital marketing and online advertising to reach its target audience.
- Raksul?s branding is strong and associated with innovation and efficiency.
Operational Analysis:
- Raksul?s operations strategy is based on technology and automation, enabling the company to achieve high efficiency and cost-effectiveness.
- The company?s supply chain management is highly integrated and optimized.
- Raksul?s information systems are robust and support its core business operations.
4. Recommendations
1. International Expansion:
- Target Emerging Markets: Focus on expanding into high-growth emerging markets with a strong e-commerce presence, such as Southeast Asia, India, and Latin America.
- Tailor Products and Services: Adapt Raksul?s platform and offerings to meet the specific needs of each target market, considering local regulations, language barriers, and cultural nuances.
- Strategic Partnerships: Collaborate with local logistics providers, printing companies, and technology companies to establish a strong foothold in new markets.
2. Innovation and Product Development:
- Invest in Technology: Continue investing in R&D to enhance the platform?s functionality, improve user experience, and develop new features.
- Explore New Products and Services: Expand beyond printing and logistics to offer complementary services, such as digital marketing, e-commerce solutions, and customer relationship management (CRM) tools.
- Embrace a Culture of Innovation: Foster a culture of experimentation and risk-taking within the organization, encouraging employees to generate new ideas and solutions.
3. Organizational Structure and Design:
- Develop a Global Structure: Implement a global organizational structure that supports international expansion and facilitates cross-border collaboration.
- Empower Local Teams: Empower local teams in each market to make decisions and adapt strategies to local conditions.
- Invest in Talent: Attract and retain top talent with expertise in international business, technology, and marketing.
5. Basis of Recommendations
Core Competencies and Consistency with Mission:
- The recommendations align with Raksul?s core competencies in technology, logistics, and printing, while also expanding its reach and capabilities.
- The focus on international expansion is consistent with Raksul?s mission to revolutionize the printing and logistics industry globally.
External Customers and Internal Clients:
- The recommendations cater to the needs of both external customers (businesses seeking printing and logistics solutions) and internal clients (employees seeking opportunities for growth and development).
- By expanding into new markets and developing new products, Raksul can better serve its existing customers and attract new ones.
Competitors:
- The recommendations aim to stay ahead of the competition by leveraging Raksul?s technological advantage and expanding into new markets.
- By focusing on innovation and product development, Raksul can maintain its competitive edge and differentiate itself from traditional players.
Attractiveness:
- The recommendations are expected to generate significant returns on investment through increased revenue, market share, and brand recognition.
- The focus on emerging markets offers high growth potential, while the development of new products and services can create new revenue streams.
Assumptions:
- The global e-commerce market will continue to grow at a rapid pace.
- Raksul can successfully adapt its platform and offerings to meet the needs of different markets.
- The company can attract and retain top talent to support its growth strategy.
6. Conclusion
Raksul has the potential to become a global leader in the printing and logistics industry by embracing a multi-pronged growth strategy that leverages its technological advantage, expands its international presence, and fosters a culture of innovation. By focusing on emerging markets, developing new products and services, and building a strong global team, Raksul can capitalize on the vast opportunities in the e-commerce market and solidify its position as a disruptive force in the industry.
7. Discussion
Alternatives:
- Focus on domestic market: Raksul could choose to focus on consolidating its position in the Japanese market before expanding internationally. However, this approach would limit its growth potential and expose it to increased competition.
- Acquisitions: Raksul could pursue acquisitions of existing companies in target markets. However, this approach carries significant risks, such as integration challenges and cultural clashes.
Risks:
- Competition: Raksul faces intense competition from both established players and new entrants in the printing and logistics industry.
- Technological disruption: Rapid advancements in technology could render Raksul?s platform obsolete or make it vulnerable to new competitors.
- Cultural differences: Expanding into new markets requires navigating cultural differences and adapting to local regulations and consumer preferences.
Key Assumptions:
- The global e-commerce market will continue to grow at a rapid pace.
- Raksul can successfully adapt its platform and offerings to meet the needs of different markets.
- The company can attract and retain top talent to support its growth strategy.
8. Next Steps
Timeline:
- Year 1: Identify and assess target markets, develop market entry strategies, and establish partnerships.
- Year 2: Launch operations in selected markets, adapt products and services to local needs, and build local teams.
- Year 3: Expand into additional markets, develop new products and services, and solidify Raksul?s position as a global leader.
Key Milestones:
- Market research and analysis: Complete a comprehensive analysis of target markets, including market size, growth potential, competition, and regulatory environment.
- Partnership development: Establish strategic partnerships with local logistics providers, printing companies, and technology companies.
- Product and service adaptation: Customize Raksul?s platform and offerings to meet the specific needs of each target market.
- Team building: Recruit and train local teams with expertise in international business, technology, and marketing.
- Marketing and branding: Develop localized marketing campaigns and build brand awareness in target markets.
By implementing these recommendations and taking a proactive approach to managing risks, Raksul can achieve its ambitious growth goals and establish itself as a global leader in the printing and logistics industry.
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Case Description
Raksul, 2018 Forbes Japan "Startup of the Year," ran an e-commerce platform drawing upon thousands of individual suppliers. Launched as a business-to-business printing services marketplace, Raksul had recently expanded to operate both a logistics/delivery marketplace and a television advertising marketplace. Each marketplace faces its own growth challenges; at the same time, the CEO must consider whether and how each marketplace can enhance the others.
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