Harvard Case - Realwide.com
"Realwide.com" Harvard business case study is written by Sean Harrington, Peter Reiss. It deals with the challenges in the field of Entrepreneurship. The case study is 17 page(s) long and it was first published on : Apr 14, 2008
At Fern Fort University, we recommend Realwide.com pursue a growth strategy focused on international expansion through a combination of strategic partnerships and organic growth. This strategy will leverage Realwide.com?s existing technology and analytics capabilities to enter new markets, while also mitigating risks associated with direct investment in new territories.
2. Background
Realwide.com is a successful startup that has developed a unique business model for selling discounted travel products online. The company has experienced rapid growth and is now facing a critical decision: how to continue its expansion. The founders, John and Mary, are considering several options, including going public, acquiring other travel companies, and expanding internationally.
The case study focuses on the challenges and opportunities associated with each option, highlighting the need for a strategic decision-making process that considers both internal and external factors.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong technology and analytics platform
- Proven business model with a strong track record
- Experienced and passionate entrepreneurs and founders
- Strong brand recognition and positive customer reviews
Weaknesses:
- Limited international presence
- Dependence on a single revenue stream
- Potential for competition from established players
Opportunities:
- Growing global travel market
- Potential for strategic partnerships with international airlines and hotels
- Expansion into new product categories
Threats:
- Economic downturn impacting travel industry
- Increased competition from online travel agencies
- Regulatory changes affecting online travel businesses
Porter?s Five Forces Analysis:
- Threat of new entrants: Moderate - the online travel industry is relatively easy to enter, but Realwide.com?s strong brand and technology platform create a barrier.
- Bargaining power of buyers: High - customers have many options for booking travel online, and Realwide.com needs to offer competitive prices and excellent customer service.
- Bargaining power of suppliers: Moderate - Realwide.com relies on airlines and hotels for inventory, but it can negotiate favorable rates through volume purchases and strategic partnerships.
- Threat of substitute products: High - customers can book travel directly with airlines and hotels, or through other online travel agencies.
- Competitive rivalry: High - the online travel industry is highly competitive, with many established players and new entrants.
Financial Analysis:
Realwide.com?s financial performance is strong, with consistent revenue growth and profitability. However, the company needs to consider the financial implications of different growth strategies, including the costs of international expansion and potential acquisitions.
4. Recommendations
- Prioritize International Expansion: Realwide.com should prioritize international expansion as its primary growth strategy. The global travel market is vast and offers significant potential for growth.
- Focus on Strategic Partnerships: Instead of direct investment in new markets, Realwide.com should focus on establishing strategic partnerships with local travel companies and airlines. This approach will allow Realwide.com to leverage existing infrastructure and expertise while mitigating risks associated with entering new markets.
- Leverage Technology and Analytics: Realwide.com?s strong technology and analytics capabilities are key to its success. The company should leverage these capabilities to develop targeted marketing campaigns and optimize its product offerings for different international markets.
- Develop a Strong Brand Identity: Realwide.com should invest in developing a strong brand identity that resonates with international customers. This will require careful consideration of cultural differences and consumer preferences.
- Monitor Market Trends and Adapt: Realwide.com needs to continuously monitor market trends and adapt its strategies accordingly. This includes staying abreast of changes in travel regulations, consumer behavior, and competitive landscape.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Realwide.com?s core competencies lie in its technology and analytics platform, which can be leveraged for international expansion. This strategy aligns with the company?s mission to provide affordable travel options to a wider audience.
- External customers and internal clients: International expansion will allow Realwide.com to reach new customers and expand its market share. It will also provide opportunities for internal growth and development.
- Competitors: Realwide.com?s competitors are already operating in international markets. By entering these markets, Realwide.com can compete directly with these players and gain a foothold in new territories.
- Attractiveness ? quantitative measures if applicable (e.g., NPV, ROI, break-even, payback): The financial attractiveness of international expansion will depend on the specific markets chosen and the partnerships established. Realwide.com should conduct thorough due diligence and financial modeling to assess the potential return on investment.
- Assumptions: These recommendations are based on the assumption that Realwide.com has the resources and expertise to successfully execute its international expansion strategy. The company should also assume that the global travel market will continue to grow in the coming years.
6. Conclusion
Realwide.com has a strong foundation for international expansion. By focusing on strategic partnerships and leveraging its technology and analytics capabilities, the company can successfully enter new markets and achieve sustainable growth.
7. Discussion
Other Alternatives:
- Going public: While going public could provide access to capital for expansion, it would also subject Realwide.com to increased scrutiny and regulatory requirements.
- Acquiring other travel companies: Acquisitions can be a quick way to enter new markets, but they also carry significant risks, including integration challenges and cultural clashes.
Risks and Key Assumptions:
- Competition: Realwide.com will face intense competition from established players in international markets.
- Cultural differences: The company needs to be sensitive to cultural differences and adapt its product offerings and marketing messages accordingly.
- Regulatory changes: Travel regulations can vary significantly from country to country, and Realwide.com needs to comply with all applicable laws and regulations.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| International Expansion | Access to a large and growing market, opportunity to leverage existing technology and analytics | Competition from established players, cultural differences, regulatory changes |
| Going Public | Access to capital, increased brand visibility | Increased scrutiny, regulatory requirements, potential for dilution of ownership |
| Acquiring other travel companies | Quick way to enter new markets, access to new technology and expertise | Integration challenges, cultural clashes, potential for overpaying |
8. Next Steps
- Conduct market research: Identify potential target markets and assess the competitive landscape.
- Develop a strategic partnership plan: Identify potential partners and negotiate favorable terms.
- Adapt product offerings and marketing messages: Tailor products and marketing materials to meet the needs of international customers.
- Establish a presence in new markets: Set up operations and build relationships with local stakeholders.
- Monitor performance and adapt strategies: Continuously track progress and make adjustments as needed.
By taking these steps, Realwide.com can successfully navigate the challenges and opportunities of international expansion and achieve its growth objectives.
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Case Description
Pete Flint and Sami Inkinen, co-founders of RealWide.com, a real estate search web site, met for lunch at the Fish Market restaurant in San Mateo, Calif. to discuss the coming week. It was September 21, 2005, and they planned to have their web site go live within a week. Although both felt proud of what they had accomplished over the last year, this was certainly not the time for nostalgia or back-patting. A number of critical pre-launch issues would likely consume this morning's discussion. In particular, they had yet to finalize the details of their first major financing and decide on a national or local (i.e., Bay Area) focus. Additionally, certain real estate listing web sites were threatening to block their search crawlers; some of their advisors were urging them to focus more on strategic issues and less on tactical execution details; and then there was the matter of the name-did RealWide truly represent their company? As they sat down, they both wondered, what would the coming week bring?
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