Free Big Hit Entertainment and BTS: K-Pop Reaches for a Global Breakthrough Case Study Solution | Assignment Help

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Publish Date: 2024-11-03

Harvard Case - Big Hit Entertainment and BTS: K-Pop Reaches for a Global Breakthrough

"Big Hit Entertainment and BTS: K-Pop Reaches for a Global Breakthrough" Harvard business case study is written by Robert D. Austin, Morgan Zhuo. It deals with the challenges in the field of General Management. The case study is 16 page(s) long and it was first published on : Dec 19, 2018

At Fern Fort University, we recommend that Big Hit Entertainment (BHE) continues its aggressive global expansion strategy, focusing on leveraging its existing strengths in brand management, digital marketing, and talent management to further penetrate international markets. BHE should prioritize strategic alliances and partnerships with key players in the global music industry, while simultaneously investing in technology and analytics to enhance its understanding of international fan demographics and preferences. This approach will allow BHE to maintain its competitive advantage in the rapidly evolving K-Pop landscape and solidify BTS's position as a global phenomenon.

2. Background

This case study examines the phenomenal success of Big Hit Entertainment, the South Korean entertainment agency behind the global K-Pop sensation, BTS. Founded in 2005, BHE has grown from a small, independent agency to a major player in the global music industry. This growth is largely attributed to BHE's innovative approach to talent management, marketing, and fan engagement, which has cultivated a passionate and dedicated fanbase worldwide.

The case study focuses on BHE's strategic decisions in navigating the complexities of international business, particularly in the context of the K-Pop industry. The main protagonists are Bang Si-hyuk, the founder and CEO of BHE, and BTS, the seven-member boy band that has become synonymous with the agency's success.

3. Analysis of the Case Study

This case study can be analyzed using a variety of frameworks, including:

  • SWOT Analysis: BHE possesses significant strengths, including a strong brand, a dedicated fan base, a talented and well-managed artist roster, and a unique business model. However, the company faces challenges in navigating cultural differences, managing global operations, and maintaining its competitive advantage in a rapidly evolving industry.
  • Porter's Five Forces: The K-Pop industry is characterized by high competition, with numerous agencies vying for a limited number of fans. The industry is also subject to significant barriers to entry, with high costs associated with talent development and marketing. However, BHE has managed to establish a strong position within the industry, leveraging its unique brand and innovative approach to talent management.
  • Balanced Scorecard: BHE's success can be measured across four key perspectives: financial, customer, internal processes, and learning and growth. The company has achieved significant financial success, driven by strong album sales, concert revenue, and merchandise sales. BHE has also built a loyal customer base, with a strong online presence and active fan communities.

4. Recommendations

To further solidify its global dominance, BHE should consider the following recommendations:

  • Strategic Alliances: BHE should pursue strategic alliances with major record labels and distribution networks in key international markets. This will allow BHE to leverage existing infrastructure and expertise to expand its reach and market share.
  • Localization and Cultural Sensitivity: BHE should invest in localizing its content and marketing materials to resonate with audiences in different cultural contexts. This includes adapting music, lyrics, and visuals to reflect local tastes and preferences.
  • Technology and Analytics: BHE should invest in advanced data analytics to gain a deeper understanding of international fan demographics and preferences. This will allow the company to tailor its marketing efforts and product development to specific target audiences.
  • Talent Management: BHE should continue to invest in talent development, focusing on identifying and nurturing artists with global appeal. This includes providing training in language skills, cultural awareness, and international performance etiquette.
  • Corporate Social Responsibility: BHE should actively engage in corporate social responsibility initiatives to enhance its brand image and build trust with international audiences. This can include supporting charitable causes, promoting environmental sustainability, and advocating for social justice.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  • Core competencies and consistency with mission: BHE's core competencies lie in talent management, brand building, and digital marketing. These recommendations align with the company's mission to create and promote high-quality music and entertainment experiences for global audiences.
  • External customers and internal clients: These recommendations are designed to cater to the needs and preferences of BHE's diverse global fanbase, while also supporting the needs of its internal clients, including artists and employees.
  • Competitors: BHE faces fierce competition from other K-Pop agencies and global music companies. These recommendations are designed to help BHE maintain its competitive advantage by leveraging its unique strengths and adapting to the evolving industry landscape.
  • Attractiveness: These recommendations are expected to yield positive financial returns, as BHE expands its market share and revenue streams in key international markets.

6. Conclusion

Big Hit Entertainment has established itself as a global leader in the K-Pop industry, driven by its innovative approach to talent management, marketing, and fan engagement. By continuing to invest in strategic alliances, localization, technology, and talent development, BHE can further solidify its position as a global powerhouse, ensuring the continued success of BTS and its other artists.

7. Discussion

While the recommendations outlined above represent a strong path forward for BHE, other alternatives exist. For example, BHE could focus on organic growth through increased investment in its existing infrastructure and marketing efforts, rather than pursuing strategic alliances. However, this approach would likely require a longer timeframe and greater financial investment.

The recommendations carry certain risks, including the potential for cultural misunderstandings, difficulties in navigating international regulations, and challenges in managing a global workforce. However, these risks can be mitigated through careful planning, cultural sensitivity, and effective communication.

8. Next Steps

BHE should implement these recommendations in a phased approach, starting with the development of a comprehensive global expansion strategy. This strategy should include:

  • Timeline: A detailed timeline for implementing each recommendation, with clear milestones and deadlines.
  • Resource allocation: A plan for allocating financial and human resources to support the global expansion strategy.
  • Performance evaluation: A framework for measuring the success of the global expansion strategy, including key performance indicators (KPIs) for tracking progress and identifying areas for improvement.

By taking these steps, BHE can leverage its strengths and navigate the challenges of the global music industry, ensuring continued success for itself and its artists.

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Case Description

Big Hit Entertainment, a Korean-based producer of popular music content, was promoting its hit "idol group," BTS, as a serious entry in the world's mainstream musical entertainment business, alongside global performers such as Justin Bieber. The "K-pop machine" represented a complex set of practices for producing performances, many of which were unique to Korea and criticized as being "overly manufactured." The case raises questions about the extent to which processes and institutions designed to generate commercially valuable creative outcomes could be developed into a reliable, repeatable, or standardized form. Could a formula be used to generate successful and creative products?

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