Harvard Case - The Elevator Saga
"The Elevator Saga" Harvard business case study is written by Manel Baucells, Gerry Yemen. It deals with the challenges in the field of General Management. The case study is 6 page(s) long and it was first published on : Apr 27, 2017
At Fern Fort University, we recommend a multi-pronged approach to address the challenges faced by the Elevator Saga team. This approach prioritizes building a strong, collaborative culture, fostering innovation, and implementing strategic initiatives to ensure long-term success.
2. Background
The Elevator Saga case study revolves around a startup company, Elevator, that has experienced rapid growth and success. The company's core product, a mobile app that connects users with local services, has gained significant traction in emerging markets. However, the company faces challenges related to managing its growth, maintaining a cohesive organizational culture, and navigating the complexities of international business.
The main protagonists are:
- Mark: The CEO and founder of Elevator, a visionary leader with a strong entrepreneurial spirit.
- Sarah: The COO, responsible for operations and managing the company's rapid expansion.
- David: The CTO, responsible for technology development and innovation.
- The team: A diverse group of talented individuals who are passionate about Elevator's mission but are struggling to adapt to the company's rapid growth.
3. Analysis of the Case Study
This case study highlights several key issues:
- Organizational Culture: Elevator's rapid growth has led to a disconnect between the company's initial values and its current culture. The team feels overwhelmed, communication is fragmented, and the sense of shared purpose is diminishing.
- Leadership Styles: Mark's leadership style, while effective in the early stages, is no longer conducive to the company's evolving needs. His focus on innovation and rapid growth has created a culture of pressure and anxiety, leading to burnout and lack of engagement.
- Strategic Planning: The company's growth strategy lacks a clear vision and roadmap. The focus on expanding into new markets without a proper understanding of local nuances and competitive landscapes has created operational inefficiencies and potential risks.
- Talent Management: The company's rapid hiring has resulted in a diverse but fragmented workforce. The lack of a clear onboarding process and performance evaluation system has hindered team cohesion and individual development.
- Innovation Management: While innovation is a core value of Elevator, the company struggles to maintain a consistent flow of new ideas and product development. The focus on rapid expansion has overshadowed the need for continuous innovation and product improvement.
Frameworks Used:
- SWOT Analysis: To understand Elevator's internal strengths and weaknesses and external opportunities and threats.
- Porter's Five Forces: To analyze the competitive landscape and identify key factors influencing the company's success.
- Balanced Scorecard: To develop a comprehensive framework for measuring and managing performance across key areas, including financial, customer, internal process, and learning and growth perspectives.
4. Recommendations
1. Implement a Strategic Planning and Growth Framework:
- Develop a comprehensive strategic plan: Define clear objectives, target markets, and growth strategies for each market.
- Conduct thorough market research: Gain a deep understanding of local regulations, cultural nuances, and competitive landscapes in each target market.
- Develop a phased expansion strategy: Prioritize markets based on potential, risk, and resource availability.
- Establish key performance indicators (KPIs): Track progress and measure the effectiveness of growth initiatives.
2. Foster a Collaborative and Inclusive Culture:
- Redefine company values: Emphasize collaboration, communication, and employee well-being.
- Implement a structured onboarding process: Introduce new hires to the company culture, values, and expectations.
- Encourage open communication: Create channels for feedback, suggestions, and problem-solving.
- Invest in team building and development: Promote cross-functional collaboration and shared learning experiences.
3. Enhance Leadership and Decision-Making:
- Develop Mark's leadership style: Encourage more collaborative and empowering leadership, focusing on delegation and team empowerment.
- Implement a structured decision-making process: Define clear roles and responsibilities, ensuring transparency and accountability.
- Invest in leadership training: Develop leadership skills within the team, creating a pipeline of future leaders.
4. Strengthen Talent Management and Development:
- Develop a robust performance evaluation system: Provide regular feedback, identify areas for improvement, and reward performance.
- Create a career development plan: Offer opportunities for training, mentorship, and advancement within the company.
- Implement a diversity and inclusion strategy: Promote a welcoming and inclusive work environment for all employees.
5. Foster Innovation and Product Development:
- Establish a dedicated innovation team: Encourage brainstorming, experimentation, and rapid prototyping.
- Implement a product development roadmap: Prioritize features and functionalities based on user needs and market trends.
- Leverage technology and analytics: Use data-driven insights to inform product development and marketing strategies.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Elevator's current situation and its future potential. They consider:
- Core competencies and consistency with mission: The recommendations align with Elevator's core values of innovation, customer focus, and growth.
- External customers and internal clients: The recommendations address the needs of both external customers and internal employees, fostering a positive and productive work environment.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate Elevator through its unique value proposition and strategic approach.
- Attractiveness - quantitative measures: The recommendations are designed to improve operational efficiency, increase revenue, and enhance profitability.
Assumptions:
- The company is committed to implementing these recommendations.
- The team is willing to embrace change and adapt to new processes.
- The market conditions remain favorable for Elevator's continued growth.
6. Conclusion
Elevator Saga presents a classic case of a startup facing the challenges of rapid growth and the need for strategic adaptation. By implementing the recommended strategies, Elevator can address its current challenges, foster a thriving culture, and achieve sustainable growth in the long term.
7. Discussion
Alternatives:
- Maintaining the status quo: This would likely lead to continued challenges, employee dissatisfaction, and potential loss of market share.
- Focusing solely on innovation: This could neglect operational efficiency and lead to unsustainable growth.
- Acquiring a competitor: This could be a risky strategy, requiring significant investment and potential integration challenges.
Risks:
- Resistance to change: Employees may resist new processes and procedures.
- Insufficient resources: Implementing these recommendations requires significant financial and human resources.
- Unforeseen market challenges: Changes in the market landscape could impact the effectiveness of the recommendations.
Key Assumptions:
- The company is committed to implementing these recommendations.
- The team is willing to embrace change and adapt to new processes.
- The market conditions remain favorable for Elevator's continued growth.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and responsible parties for each recommendation.
- Communicate the plan to the team: Ensure transparency and buy-in from all employees.
- Monitor progress and make adjustments: Regularly evaluate the effectiveness of the recommendations and make adjustments as needed.
- Invest in ongoing training and development: Support the team's continuous learning and growth.
By taking these steps, Elevator Saga can navigate its challenges, achieve sustainable growth, and become a leader in its industry.
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Case Description
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