Harvard Case - BROAD's Holon Building: Internationalization Strategy
"BROAD's Holon Building: Internationalization Strategy" Harvard business case study is written by Yaozhou Zheng, Su Liu, Paul W. Beamish. It deals with the challenges in the field of General Management. The case study is 12 page(s) long and it was first published on : Dec 13, 2022
At Fern Fort University, we recommend that BROAD adopt a phased internationalization strategy focused on emerging markets with a strong emphasis on sustainability and social responsibility. This strategy should prioritize building strategic partnerships, leveraging technology and analytics, and fostering a culture of innovation and cross-cultural collaboration.
2. Background
BROAD, a leading manufacturer of sustainable building materials, faces a significant opportunity to expand its operations internationally. The company's innovative and eco-friendly products have gained recognition in the US market, but there is a growing demand for sustainable solutions in emerging markets. The case study focuses on BROAD's decision to build a Holon Building in a developing country, aiming to establish a foothold in the international market.
The main protagonists of the case study are:
- BROAD's CEO: Driven by the desire to expand the company's reach and impact, he is committed to a sustainable and responsible approach to internationalization.
- The Board of Directors: They are tasked with evaluating the risks and opportunities associated with international expansion and providing strategic guidance to the CEO.
- The International Expansion Team: This team is responsible for researching potential markets, conducting feasibility studies, and developing a comprehensive strategy for internationalization.
3. Analysis of the Case Study
To analyze BROAD's situation, we can employ the following frameworks:
- SWOT Analysis:
- Strengths: Innovative products, strong brand reputation, commitment to sustainability, experienced management team.
- Weaknesses: Limited international experience, potential cultural barriers, reliance on US-based manufacturing.
- Opportunities: Growing demand for sustainable building materials in emerging markets, potential for strategic partnerships, access to new technologies and talent.
- Threats: Competition from established players, political and economic instability in emerging markets, fluctuations in raw material prices.
- Porter's Five Forces:
- Threat of New Entrants: High, due to the relatively low barriers to entry in the building materials industry.
- Bargaining Power of Buyers: Moderate, as buyers have a range of options but may be willing to pay a premium for sustainable products.
- Bargaining Power of Suppliers: Moderate, as BROAD relies on a variety of suppliers for raw materials.
- Threat of Substitute Products: Moderate, as alternative building materials exist but may not offer the same sustainability benefits.
- Competitive Rivalry: High, as the building materials industry is characterized by intense competition.
- Value Chain Analysis:
- BROAD's value chain includes: Research & Development, Manufacturing, Marketing & Sales, Distribution, and Customer Service. The company needs to assess how each element of the value chain will be affected by international expansion and how to adapt its operations accordingly.
4. Recommendations
BROAD should adopt a phased approach to internationalization, focusing on emerging markets with a strong demand for sustainable building materials. This approach should include the following key elements:
- Phase 1: Market Research and Strategic Partnerships:
- Conduct thorough market research to identify suitable emerging markets based on factors like economic growth, environmental regulations, and demand for sustainable building materials.
- Establish strategic partnerships with local businesses, NGOs, and government agencies to gain market insights, access local networks, and build trust.
- Explore joint ventures or licensing agreements to leverage local expertise and reduce risk.
- Phase 2: Pilot Project and Technology Transfer:
- Launch a pilot project in a selected emerging market, focusing on a smaller-scale Holon Building project.
- Utilize technology and analytics to optimize design, construction, and operations, ensuring efficiency and sustainability.
- Transfer knowledge and expertise to local partners, fostering a culture of innovation and collaboration.
- Phase 3: Scalable Growth and Sustainable Practices:
- Based on the success of the pilot project, expand operations to other emerging markets, prioritizing sustainability and social responsibility.
- Implement a robust supply chain management system to ensure access to local raw materials and minimize environmental impact.
- Foster a diverse and inclusive workforce, promoting local talent development and community engagement.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: BROAD's core competencies lie in innovation, sustainability, and manufacturing. The recommended strategy leverages these strengths while aligning with the company's mission to provide sustainable building solutions.
- External customers and internal clients: The strategy addresses the needs of both external customers seeking sustainable building materials and internal clients seeking growth opportunities and a positive social impact.
- Competitors: By focusing on emerging markets and leveraging technology and partnerships, BROAD can differentiate itself from competitors and gain a competitive advantage.
- Attractiveness: The strategy is attractive due to the potential for significant growth in emerging markets, the increasing demand for sustainable solutions, and the potential for cost savings through local sourcing and manufacturing.
- Assumptions: The strategy relies on the assumption that BROAD can successfully overcome cultural barriers, establish strong partnerships, and adapt its operations to local conditions.
6. Conclusion
By adopting a phased internationalization strategy focused on emerging markets, leveraging technology and analytics, and prioritizing sustainability and social responsibility, BROAD can achieve significant growth while making a positive impact on the world. This approach will require a commitment to innovation, collaboration, and a long-term vision for sustainable development.
7. Discussion
Alternative options include:
- Rapid Expansion: This option involves aggressively entering multiple emerging markets simultaneously, potentially leading to higher risk and resource strain.
- Focus on Developed Markets: This option focuses on expanding into developed markets with established demand for sustainable building materials, but may face higher competition and lower growth potential.
Key risks and assumptions include:
- Political and Economic Instability: Emerging markets can be subject to political and economic instability, potentially affecting operations and profitability.
- Cultural Barriers: Overcoming cultural differences and establishing trust with local partners can be challenging.
- Technological Adoption: The successful implementation of technology and analytics depends on the availability of skilled labor and reliable infrastructure.
8. Next Steps
To implement the recommended strategy, BROAD should:
- Timeline:
- Year 1: Conduct market research, identify potential partners, and develop a pilot project plan.
- Year 2: Launch the pilot project and begin technology transfer.
- Year 3: Evaluate the pilot project, expand operations to other emerging markets, and implement a scalable growth strategy.
- Key Milestones:
- Secure funding for international expansion.
- Establish a dedicated international expansion team.
- Develop a comprehensive internationalization strategy document.
- Identify and select suitable emerging markets.
- Negotiate strategic partnerships with local businesses.
- Design and implement a pilot project.
- Monitor and evaluate progress, making adjustments as needed.
By taking these steps, BROAD can successfully navigate the complexities of international expansion while staying true to its commitment to sustainability and social responsibility.
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Case Description
On June 5, 2021, an eleven-story building developed by the BROAD Group was completed in Changsha, China, in just 28 hours and 45 minutes. This building, known as the Holon Building, had the advantages of a long lifespan, short construction period, strong earthquake and typhoon resistance, low cost, high comfort and energy savings, and global transportability. Because of its standardized installation and 100 per cent factory prefabrication of all modules, Holon was well suited to various types of buildings. However, as a newly emerging technology, the Holon Building needed time and great effort to gain wide acceptance. BROAD's chairman and chief executive officer, Zhang Yue, was wondering about the feasibility of Holon buildings' global market expansion.
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