Harvard Case - The Evolution of the Circus Industry (A)
"The Evolution of the Circus Industry (A)" Harvard business case study is written by W. Chan Kim, Renee Mauborgne, Ben M. Bensaou, Matt Williamson. 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 : Jun 1, 2009
At Fern Fort University, we recommend a strategic shift for the traditional circus industry, embracing a digital transformation to enhance customer experience, diversify offerings, and secure long-term viability. This involves leveraging technology and analytics, adopting a sustainable business model, and focusing on corporate social responsibility to build a more ethical and engaging brand.
2. Background
The case study 'The Evolution of the Circus Industry (A)' examines the challenges faced by the traditional circus industry, particularly Ringling Bros. and Barnum & Bailey Circus, in the face of changing societal values, animal welfare concerns, and the rise of digital entertainment. The case highlights the industry's struggle to adapt to evolving consumer preferences and maintain profitability.
The main protagonists are:
- Kenneth Feld: CEO of Feld Entertainment, the parent company of Ringling Bros. and Barnum & Bailey Circus.
- The Circus Industry: A sector facing declining attendance, negative public perception, and increasing pressure to address animal welfare concerns.
- Consumers: Shifting preferences towards digital entertainment and a growing awareness of animal rights.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Established brand recognition and historical legacy
- Strong live entertainment experience
- Skilled performers and talented artists
Weaknesses:
- Declining attendance and revenue
- Negative public perception regarding animal welfare
- Lack of innovation and technological advancements
- High operating costs
Opportunities:
- Digital transformation and online engagement
- Diversification of offerings (e.g., interactive experiences, themed events)
- Focus on corporate social responsibility and animal welfare
- Expansion into emerging markets
Threats:
- Competition from other forms of entertainment
- Continued pressure from animal rights groups
- Economic downturns and changing consumer spending habits
Porter's Five Forces:
- Threat of New Entrants: Low, due to high barriers to entry, including infrastructure costs and talent acquisition.
- Bargaining Power of Buyers: Moderate, as consumers have alternative entertainment options available.
- Bargaining Power of Suppliers: Moderate, as performers and animal trainers have some bargaining power.
- Threat of Substitute Products: High, due to the availability of digital entertainment and other live performance options.
- Rivalry Among Existing Competitors: Moderate, with competition from other circus companies and alternative entertainment forms.
Key Issues:
- Declining Attendance: The circus industry faces declining attendance due to changing consumer preferences, negative publicity, and the rise of digital entertainment.
- Animal Welfare Concerns: Animal welfare concerns have led to increased scrutiny and pressure on the industry to address ethical treatment of animals.
- Lack of Innovation: The circus industry has been slow to adapt to technological advancements and innovate its offerings.
4. Recommendations
1. Digital Transformation:
- Develop a robust online presence: Create engaging websites, social media platforms, and online streaming services to reach a wider audience.
- Offer interactive experiences: Integrate virtual reality (VR) and augmented reality (AR) technologies to enhance live performances and create immersive experiences.
- Leverage data analytics: Utilize data analytics to understand customer preferences, optimize marketing campaigns, and personalize experiences.
2. Sustainable Business Model:
- Shift towards animal-free performances: Phase out animal acts and focus on human performers, acrobatics, and other forms of entertainment.
- Embrace sustainable practices: Implement environmentally friendly practices in all aspects of operations, including energy consumption, waste management, and transportation.
- Partner with animal welfare organizations: Collaborate with reputable animal welfare organizations to promote ethical animal treatment and conservation efforts.
3. Corporate Social Responsibility:
- Focus on community engagement: Participate in local community events, support educational initiatives, and promote social causes.
- Implement diversity and inclusion programs: Create a diverse and inclusive workforce that reflects the communities served.
- Promote ethical business practices: Adhere to strict ethical standards in all aspects of operations, including employee treatment, animal welfare, and environmental sustainability.
4. Innovation and Product Development:
- Develop new and engaging performances: Invest in creative talent and innovative performance concepts to attract a wider audience.
- Offer diverse entertainment options: Expand beyond traditional circus acts to include music, dance, comedy, and other forms of entertainment.
- Create themed experiences: Develop immersive and interactive experiences based on popular themes, such as fantasy, history, or science fiction.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with the circus industry's core competency of providing live entertainment while addressing evolving consumer preferences and ethical concerns.
- External customers and internal clients: The recommendations aim to attract new audiences, retain existing customers, and motivate employees by creating a more engaging and ethical environment.
- Competitors: The recommendations aim to differentiate the circus industry from competitors by embracing innovation, sustainability, and social responsibility.
- Attractiveness: The recommendations are expected to increase revenue, improve brand image, and enhance long-term viability.
6. Conclusion
The circus industry is at a crossroads, facing declining attendance and increasing pressure to address ethical concerns. By embracing a digital transformation, adopting a sustainable business model, and focusing on corporate social responsibility, the industry can reinvent itself and secure a future in a rapidly changing world. By leveraging technology, fostering innovation, and prioritizing ethical practices, the circus can become a more relevant and engaging form of entertainment for a new generation of audiences.
7. Discussion
Alternatives:
- Maintaining the status quo: This option would likely lead to further decline in attendance and revenue, as the industry fails to adapt to changing consumer preferences.
- Focusing solely on animal welfare: While addressing animal welfare concerns is crucial, focusing solely on this aspect may alienate audiences who enjoy traditional circus acts.
- Merging with other entertainment companies: This option could provide access to resources and expertise, but it may also lead to loss of brand identity and autonomy.
Risks and Key Assumptions:
- Technological advancements: The success of digital transformation relies on the continued development and accessibility of relevant technologies.
- Consumer acceptance: The shift towards animal-free performances and sustainable practices may face resistance from some audiences.
- Financial resources: Implementing these recommendations requires significant financial investment and may require partnerships or funding sources.
8. Next Steps
- Develop a comprehensive digital strategy: Create a detailed plan for online engagement, content creation, and data analytics.
- Invest in technology and infrastructure: Acquire necessary equipment and software to support digital transformation and sustainable practices.
- Build partnerships with animal welfare organizations: Establish relationships with reputable organizations to promote ethical animal treatment and conservation efforts.
- Develop new performance concepts: Invest in creative talent and innovative performance concepts to attract a wider audience.
- Implement diversity and inclusion programs: Create a more inclusive and welcoming environment for employees and audiences.
- Monitor progress and adapt strategies: Regularly assess the effectiveness of implemented strategies and make adjustments as needed.
By taking these steps, the circus industry can embark on a path of transformation, ensuring its relevance and sustainability in the 21st century.
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Case Description
This is the first of a two-case series. Cirque du Soleil very successfully entered a structurally unattractive circus industry. It was able to reinvent the industry and created a new market space by challenging the conventional assumptions about how to compete. It value innovated by shifting the buyer group from children (end-users of the traditional circus) to adults (purchasers of the traditional circus), drawing upon the distinctive strengths of other alternative industries, such as the theatre, Broadway shows and the opera, to offer a totally new set of utilities to more mature and higher spending customers. **ecch European Case Awards Category Winner 2006 and ecch European Case Awards Overall Winner 2009.
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