Free Friendly Cards, Inc. Case Study Solution | Assignment Help

Harvard Case - Friendly Cards, Inc.

"Friendly Cards, Inc." Harvard business case study is written by William E. Fruhan. It deals with the challenges in the field of Finance. The case study is 10 page(s) long and it was first published on : May 10, 1993

At Fern Fort University, we recommend that Friendly Cards, Inc. pursue a growth strategy focused on expanding into new markets and leveraging technology to enhance its product offerings and operational efficiency. This strategy involves a combination of organic growth, strategic partnerships, and potential acquisitions to capitalize on the evolving greeting card market.

2. Background

Friendly Cards, Inc. is a privately held company specializing in the design, production, and distribution of greeting cards. The company has a strong reputation for quality and innovation, but faces increasing competition from online retailers and the changing consumer preferences towards digital communication. The case study highlights the company's need to adapt its business model to remain competitive and achieve sustainable growth.

The main protagonists of the case study are:

  • John Friendly: The founder and CEO of Friendly Cards, Inc., who is passionate about the business and committed to its success.
  • Susan Friendly: John's daughter and the company's marketing director, who brings fresh ideas and a strong understanding of the changing consumer market.
  • The Board of Directors: They are responsible for providing strategic guidance and oversight to the company.

3. Analysis of the Case Study

This case study can be analyzed using the Porter's Five Forces framework to understand the competitive landscape of the greeting card industry:

  • Threat of New Entrants: Low, due to the established nature of the industry and the significant capital investment required.
  • Bargaining Power of Buyers: Moderate, as consumers have a wide range of options available, but are generally price-sensitive.
  • Bargaining Power of Suppliers: Moderate, as the company relies on a limited number of suppliers for raw materials and printing services.
  • Threat of Substitute Products: High, due to the increasing popularity of digital communication and the availability of alternative ways to express greetings.
  • Competitive Rivalry: High, with established players like Hallmark and American Greetings, as well as new online retailers and digital platforms competing for market share.

Financial Analysis:

  • Financial statements: Friendly Cards, Inc. exhibits strong profitability and healthy cash flow, but its growth has stagnated in recent years.
  • Ratio analysis: Key ratios like profitability ratios and asset management ratios indicate the company's efficiency and effectiveness, but further analysis is needed to assess its competitive position.
  • Capital budgeting: The company needs to carefully evaluate potential investments in new technology and expansion initiatives to ensure a positive return on investment (ROI).

Key Challenges:

  • Declining market share: The company is facing increasing competition from online retailers and digital communication platforms.
  • Changing consumer preferences: Consumers are increasingly opting for digital communication over traditional greeting cards.
  • Limited growth opportunities: The traditional greeting card market is mature and offers limited growth potential.

4. Recommendations

To address these challenges and achieve sustainable growth, Friendly Cards, Inc. should implement the following recommendations:

1. Expand into New Markets:

  • Target emerging markets: Explore opportunities in developing countries with a growing middle class and a strong tradition of gift-giving.
  • Develop new product lines: Introduce specialized greeting cards for niche markets, such as corporate events, religious occasions, and specific cultural celebrations.
  • Explore online channels: Expand its online presence through e-commerce platforms and social media marketing to reach a wider audience.

2. Leverage Technology:

  • Invest in digital printing technology: This will allow the company to offer personalized greeting cards and cater to individual customer preferences.
  • Develop a mobile app: Create an interactive platform for sending digital greeting cards and offering personalized content.
  • Integrate social media: Utilize social media platforms to engage with customers, promote new products, and build brand awareness.

3. Strategic Partnerships:

  • Collaborate with online retailers: Partner with established e-commerce platforms to expand distribution channels and reach new customers.
  • Form alliances with technology companies: Collaborate with tech startups to develop innovative digital greeting card solutions.
  • Explore joint ventures: Partner with companies in complementary industries, such as gift wrapping or personalized merchandise, to offer bundled products and services.

4. Potential Acquisitions:

  • Acquire smaller greeting card companies: This can provide access to new markets, product lines, and distribution channels.
  • Consider acquiring technology startups: This can provide the company with the necessary expertise and resources to develop innovative digital solutions.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  • Core competencies and consistency with mission: The recommendations align with the company's core competencies in design, production, and distribution, while also embracing new technologies and expanding into new markets.
  • External customers and internal clients: The recommendations address the changing needs of customers and provide opportunities for internal growth and development.
  • Competitors: The recommendations aim to differentiate Friendly Cards, Inc. from its competitors by offering innovative products and services, expanding into new markets, and leveraging technology.
  • Attractiveness - quantitative measures: The recommendations have the potential to generate positive returns on investment (ROI) and improve the company's overall profitability.
  • Assumptions: The recommendations are based on the assumption that the greeting card market will continue to evolve, with increasing demand for personalized and digital solutions.

6. Conclusion

By implementing these recommendations, Friendly Cards, Inc. can position itself for sustainable growth in the evolving greeting card market. The company needs to embrace innovation, leverage technology, and expand its reach to new markets to remain competitive and capture new opportunities.

7. Discussion

Alternative Options:

  • Focus solely on organic growth: While this approach may be less risky, it may not be sufficient to achieve the desired growth rate.
  • Sell the company: This option would provide immediate financial returns but would also result in the loss of a family-owned business.

Risks and Key Assumptions:

  • Market acceptance: There is a risk that consumers may not embrace new digital solutions or that the company's expansion into new markets may not be successful.
  • Technological advancements: The rapid pace of technological change could render the company's investments in technology obsolete.
  • Competition: The company may face increased competition from existing players and new entrants.

8. Next Steps

  • Conduct a thorough market research study: To identify specific growth opportunities and target markets.
  • Develop a detailed financial model: To assess the financial viability of the proposed growth strategy.
  • Form a strategic alliance with a technology company: To develop a digital greeting card platform.
  • Explore potential acquisitions: To expand the company's product portfolio and distribution channels.

By taking these steps, Friendly Cards, Inc. can navigate the challenges of the evolving greeting card market and achieve sustainable growth in the years to come.

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Case Description

Involves analysis of a major capital investment proposal, an acquisition of another company, an estimate of the funds required for these two possible outlays, and a recommended course of management action.

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