Harvard Case - Tennant Company
"Tennant Company" Harvard business case study is written by Toby Stuart, Lynda M. Applegate, James Weber. It deals with the challenges in the field of Entrepreneurship. The case study is 28 page(s) long and it was first published on : Feb 8, 2010
At Fern Fort University, we recommend Tennant Company pursue a strategic growth path focused on disruptive innovation and business model innovation within the cleaning equipment industry. This strategy involves leveraging technology and analytics, product development, and strategic partnerships to create a sustainable and scalable business model.
2. Background
The Tennant Company, a leading manufacturer of cleaning equipment, faces challenges in a competitive market. While they hold a strong position in the traditional cleaning equipment market, the emergence of new technologies and changing customer needs threaten their market share.
The case study highlights the company?s efforts to adapt to these changes through initiatives like the i-Series and the development of a web and mobile application platform. However, these efforts are not yet fully integrated into a cohesive and disruptive growth strategy.
The main protagonists of the case study are the company?s leadership, who are grappling with the need to balance innovation with the company?s existing business model and organizational culture.
3. Analysis of the Case Study
To analyze Tennant Company?s situation, we can utilize the Porter Five Forces framework:
- Threat of New Entrants: The cleaning equipment industry is relatively mature, but the emergence of tech startups and disruptive technologies poses a significant threat.
- Bargaining Power of Buyers: Customers are becoming increasingly price-sensitive and demanding innovative solutions.
- Bargaining Power of Suppliers: The supply chain is relatively fragmented, giving suppliers some leverage.
- Threat of Substitute Products: The rise of robotics and autonomous cleaning systems presents a potential threat to traditional cleaning equipment.
- Competitive Rivalry: The industry is highly competitive, with several established players and emerging companies.
This analysis suggests that Tennant Company needs to focus on developing disruptive innovations that differentiate them from competitors and meet the evolving needs of customers.
4. Recommendations
1. Embrace Disruptive Innovation:
- Develop a dedicated Innovation Lab: This will foster a culture of experimentation and rapid prototyping.
- Invest in R&D: Focus on developing autonomous cleaning systems, robotics, and AI-powered cleaning solutions.
- Partner with tech startups and universities: Leverage external expertise and access cutting-edge technologies.
2. Transform Business Model:
- Shift from product sales to outcome-based services: Offer subscription-based cleaning services, focusing on performance and customer satisfaction.
- Leverage data analytics: Utilize Internet of Things (IoT) technology to collect data on equipment performance and customer usage patterns.
- Develop a digital platform: Offer web and mobile applications for remote equipment monitoring, data analysis, and customer support.
3. Enhance Marketing Strategy:
- Target specific market segments: Identify niche markets where disruptive innovations can provide significant value.
- Emphasize sustainability and environmental benefits: Highlight the eco-friendly aspects of new technologies.
- Utilize digital marketing channels: Leverage social media, online advertising, and content marketing to reach target audiences.
4. Foster Organizational Change:
- Promote a culture of innovation: Encourage experimentation, risk-taking, and collaboration.
- Develop cross-functional teams: Bring together expertise from engineering, product development, marketing, and IT.
- Invest in employee training and development: Equip employees with the skills necessary to thrive in a rapidly evolving industry.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Tennant Company has a strong foundation in cleaning technology and a commitment to providing innovative solutions. The recommendations align with these strengths and build upon them.
- External customers and internal clients: The recommendations address the evolving needs of customers and provide internal teams with the tools and resources to succeed.
- Competitors: The recommendations focus on developing disruptive innovations that differentiate Tennant Company from competitors and create a competitive advantage.
- Attractiveness: The recommendations are expected to lead to increased market share, revenue growth, and profitability.
6. Conclusion
By embracing disruptive innovation, transforming its business model, and fostering organizational change, Tennant Company can position itself for long-term success in the evolving cleaning equipment industry. This strategy will enable the company to capture new market opportunities, enhance customer satisfaction, and drive sustainable growth.
7. Discussion
Other alternatives not selected include:
- Acquiring existing tech startups: This could provide immediate access to new technologies and expertise. However, it carries risks associated with integration and cultural clashes.
- Focusing on niche markets: This could provide a more focused approach to innovation. However, it may limit growth potential.
Key assumptions of the recommendations include:
- The market for disruptive cleaning technologies will continue to grow.
- Tennant Company will be able to successfully develop and commercialize these technologies.
- The company will be able to adapt its organizational culture to support innovation.
8. Next Steps
- Develop a detailed business plan: Outline the specific initiatives, timelines, and resources required to implement the recommendations.
- Pilot test new technologies and services: Gather feedback from customers and refine offerings before full-scale launch.
- Build strategic partnerships: Collaborate with tech startups, universities, and other industry players to accelerate innovation.
- Invest in employee training and development: Equip employees with the skills necessary to thrive in a rapidly evolving industry.
By taking these steps, Tennant Company can successfully navigate the challenges of a changing market and emerge as a leader in the future of cleaning technology.
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Case Description
Tennant, a leading producer of floor cleaning equipment, must determine how to create, finance, structure, staff, govern, measure and manage a new venture for developing a fundamentally new product line. In 2005, Tennant Company had developed an innovative, environmentally friendly, cleaning technology that could potentially revolutionize cleaning. Historically, Tennant was a producer of floor and carpet washing machines for industrial and commercial markets. Over time, it became clear that the technology had applications far beyond Tennant's core markets. In mid-2009, the company set up a new venture to develop the technology's promise. In 2010 this venture was wholly owned by Tennant and run by a Tennant manager. The case examines the decisions the CEO and new venture head must make to best structure and position the venture to succeed.
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