Harvard Case - Union Corrugating Co. (A)
"Union Corrugating Co. (A)" Harvard business case study is written by Paul W. Marshall, Julia D. Stevens. It deals with the challenges in the field of Entrepreneurship. The case study is 16 page(s) long and it was first published on : Oct 27, 2002
At Fern Fort University, we recommend that Union Corrugating Co. (UCC) pursue a strategic growth plan focused on expanding its product portfolio, leveraging technology, and exploring new markets. This plan should involve a combination of organic growth initiatives, strategic partnerships, and potential acquisitions to capitalize on the evolving corrugated packaging industry.
2. Background
Union Corrugating Co. (UCC) is a family-owned business established in 1946, specializing in the production of corrugated boxes. The company has a strong reputation for quality and customer service, but faces increasing competition from larger, more diversified players. The case study highlights UCC?s need to adapt to changing market dynamics and explore new avenues for growth.
The main protagonists of the case study are the three brothers, John, Tom, and Bill, who represent the third generation of leadership. They are grappling with the challenges of transitioning the company to a more modern and competitive model while maintaining the family values and legacy.
3. Analysis of the Case Study
This case study can be analyzed through the lens of several frameworks:
Porter?s Five Forces:
- Threat of new entrants: Moderate, due to the capital-intensive nature of the industry.
- Bargaining power of buyers: High, as customers have many options for corrugated boxes.
- Bargaining power of suppliers: Moderate, as raw materials are readily available.
- Threat of substitutes: High, as alternative packaging materials like plastic and paper are available.
- Competitive rivalry: High, with several large players competing for market share.
SWOT Analysis:
- Strengths: Strong customer relationships, reputation for quality, experienced workforce.
- Weaknesses: Limited product portfolio, reliance on traditional manufacturing processes, lack of technological innovation.
- Opportunities: Expanding into new markets, developing value-added products, leveraging technology for efficiency and customer service.
- Threats: Increasing competition, rising raw material costs, changing consumer preferences.
Growth Strategy Framework:
- Market Penetration: UCC can focus on increasing its market share in existing markets by offering competitive pricing, improved customer service, and targeted marketing campaigns.
- Product Development: UCC can develop new products, such as specialized packaging solutions, eco-friendly options, and customized designs, to cater to evolving customer needs.
- Market Development: UCC can expand into new geographic markets, both domestically and internationally, to reach new customer segments.
- Diversification: UCC can diversify its product portfolio by entering related industries, such as packaging design and logistics, to reduce its dependence on the corrugated box market.
4. Recommendations
- Invest in Technology and Innovation: UCC should invest in new technologies to improve manufacturing efficiency, automate processes, and develop innovative packaging solutions. This includes implementing software for design, production planning, and inventory management, as well as exploring new materials and printing technologies.
- Expand Product Portfolio: UCC should develop a wider range of products, including value-added services like custom packaging design, branding, and logistics. This will allow them to cater to a broader customer base and differentiate themselves from competitors.
- Explore New Markets: UCC should consider expanding into new geographic markets, particularly in emerging economies where demand for corrugated packaging is growing rapidly. This could involve setting up joint ventures, partnerships, or establishing new manufacturing facilities.
- Embrace Digital Marketing: UCC should leverage digital marketing channels to reach new customers, build brand awareness, and engage with existing customers. This includes developing a strong online presence, utilizing social media platforms, and implementing targeted advertising campaigns.
- Focus on Customer Experience: UCC should prioritize customer experience by offering personalized solutions, responsive customer service, and transparent communication. This can be achieved through online portals, interactive tools, and dedicated customer support teams.
- Strengthen Leadership and Culture: The brothers should foster a culture of innovation, collaboration, and continuous improvement within UCC. This involves investing in employee training, promoting open communication, and encouraging risk-taking.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: UCC?s core competencies lie in its manufacturing expertise and customer relationships. The recommendations focus on leveraging these strengths while expanding into new areas that align with the company?s mission of providing high-quality packaging solutions.
- External customers and internal clients: The recommendations address the evolving needs of customers seeking innovative and sustainable packaging solutions while also considering the needs of UCC?s employees for professional development and a stimulating work environment.
- Competitors: The recommendations aim to position UCC as a leader in the industry by adopting best practices, investing in technology, and offering differentiated products and services.
- Attractiveness: The recommendations are expected to generate positive financial returns through increased sales, improved efficiency, and reduced costs.
6. Conclusion
Union Corrugating Co. has a strong foundation and a loyal customer base. By embracing innovation, expanding its product portfolio, and exploring new markets, UCC can successfully navigate the challenges of the evolving corrugated packaging industry and achieve sustainable growth. The brothers should work together to implement a strategic plan that balances the need for innovation with the preservation of the company?s legacy and family values.
7. Discussion
Other alternatives not selected include:
- Merging with a larger competitor: While this could provide access to resources and expertise, it also carries the risk of losing control over the company and its culture.
- Focusing solely on cost reduction: This strategy could lead to short-term gains but may not be sustainable in the long run.
- Maintaining the status quo: This approach would likely result in UCC losing market share and becoming less competitive.
Key risks and assumptions:
- Investment in technology may be costly and require significant upfront capital.
- Expanding into new markets may involve cultural and regulatory challenges.
- Customer acceptance of new products and services is uncertain.
8. Next Steps
UCC should develop a detailed strategic plan outlining the steps needed to implement the recommendations. This plan should include:
- Timeline: A clear timeline with key milestones for each initiative.
- Budget: A detailed budget allocation for each project.
- Resources: Identification of internal and external resources required for implementation.
- Metrics: Key performance indicators to track progress and measure success.
- Communication: A communication plan to keep stakeholders informed about the strategic direction of the company.
By taking these steps, UCC can position itself for future success in the dynamic and competitive corrugated packaging industry.
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Case Description
Lauri Union graduates from Harvard Business School and takes over her family's steel-corrugated roofing and siding manufacturing firm, which her mother has most recently run. The industry is mature, entry barriers to competitors are low, and the company is over 50 years old and performing poorly. This case details Union's efforts to turn the company around by changing the management team to help increase sales, streamline operations, improve customer service and employee morale, and confront a culture of low expectations and performance.A rewritten version of an earlier case.
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