Harvard Case - Exide Industries Limited: Pioneering Remote-as-a-Service through Augmented Reality
"Exide Industries Limited: Pioneering Remote-as-a-Service through Augmented Reality" Harvard business case study is written by Sandip Pradhan, Manojit Chattopadhyay. It deals with the challenges in the field of General Management. The case study is 10 page(s) long and it was first published on : Feb 1, 2024
At Fern Fort University, we recommend Exide Industries Limited (Exide) to strategically leverage its Augmented Reality (AR) enabled "Remote-as-a-Service" (Raas) platform to drive growth and enhance its competitive advantage across multiple business units. This includes expanding its reach into new markets, improving operational efficiency, and enhancing customer satisfaction.
2. Background
Exide Industries Limited is a leading manufacturer of lead-acid batteries in India, with a global presence. The company faces challenges in a rapidly evolving market, including increasing competition, rising costs, and the need for greater operational efficiency. To address these challenges, Exide has invested in technology and innovation, including the development of its AR-enabled Raas platform. This platform allows remote technicians to provide technical support and assistance to customers, leading to faster resolution times, reduced downtime, and improved customer satisfaction.
The main protagonists of the case study are:
- Exide's management team: They are tasked with developing and implementing a strategy to leverage the Raas platform for growth and competitive advantage.
- Exide's technical team: They are responsible for developing and deploying the AR-enabled Raas platform.
- Exide's customers: They benefit from the faster resolution times and improved support provided by the Raas platform.
3. Analysis of the Case Study
To analyze the case, we can employ a framework that considers both internal and external factors influencing Exide's strategy:
Internal Analysis:
- Strengths: Strong brand recognition, established manufacturing capabilities, experienced workforce, innovative AR-enabled Raas platform.
- Weaknesses: Limited global reach, dependence on traditional business models, potential for technological disruption.
- Opportunities: Expanding into new markets, leveraging digital technologies for efficiency gains, developing new product and service offerings.
- Threats: Increasing competition, fluctuating commodity prices, regulatory changes, technological advancements by competitors.
External Analysis:
- Porter's Five Forces:
- Threat of new entrants: Relatively high due to the ease of entry into the battery manufacturing industry.
- Bargaining power of buyers: Moderate, as customers have access to alternative battery suppliers.
- Bargaining power of suppliers: Moderate, as Exide relies on a limited number of suppliers for key raw materials.
- Threat of substitute products: High, as alternative energy storage solutions are emerging.
- Competitive rivalry: Intense, with numerous players vying for market share.
Strategic Analysis:
- Corporate Strategy: Exide's corporate strategy should focus on leveraging its Raas platform to drive growth and expand its market share. This can be achieved through strategic acquisitions, partnerships, and organic growth initiatives.
- Growth Strategy: Exide should pursue a multi-pronged growth strategy, including:
- Market Penetration: Increasing its market share in existing markets by leveraging the Raas platform to enhance customer satisfaction and loyalty.
- Market Development: Expanding into new geographic markets, particularly in emerging economies with high growth potential.
- Product Development: Developing new product and service offerings, such as battery recycling services and energy storage solutions.
- Competitive Strategy: Exide should adopt a differentiation strategy, focusing on providing superior customer service and technical support through its AR-enabled Raas platform.
4. Recommendations
Exide should implement the following recommendations to leverage its AR-enabled Raas platform for growth and competitive advantage:
1. Expand Raas Platform Deployment:
- Target new markets: Focus on emerging markets with high growth potential and a need for efficient technical support.
- Offer Raas as a standalone service: Provide Raas services to other battery manufacturers and industries that require remote technical assistance.
- Integrate Raas into existing product offerings: Bundle Raas services with battery purchases to enhance customer value proposition.
2. Invest in Technology and Innovation:
- Enhance AR capabilities: Continuously improve the AR platform's functionality and user experience.
- Develop AI-powered features: Integrate AI capabilities into the Raas platform to automate tasks and provide predictive maintenance insights.
- Explore emerging technologies: Stay abreast of advancements in AR, VR, and other technologies that can enhance the Raas platform.
3. Strengthen Customer Relationships:
- Develop a comprehensive customer service strategy: Leverage the Raas platform to provide personalized and proactive support.
- Collect customer feedback: Regularly gather feedback from customers to improve the Raas platform and service offerings.
- Build a strong customer community: Create online forums and communities where customers can share experiences and receive support.
4. Enhance Operational Efficiency:
- Optimize internal processes: Utilize the Raas platform to streamline internal operations, such as training, troubleshooting, and inventory management.
- Reduce downtime: Leverage the Raas platform to minimize downtime and ensure timely resolution of technical issues.
- Improve workforce productivity: Empower technicians with the Raas platform to provide faster and more efficient support.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Exide's core competency lies in its manufacturing capabilities and technical expertise. The Raas platform aligns with its mission to provide innovative and sustainable solutions to its customers.
- External customers and internal clients: The Raas platform directly benefits both external customers and internal clients by providing faster resolution times, improved support, and increased efficiency.
- Competitors: The Raas platform provides Exide with a competitive advantage by differentiating its offerings and providing superior customer service.
- Attractiveness ' quantitative measures: The Raas platform has the potential to generate significant ROI by reducing downtime, improving customer satisfaction, and expanding market reach.
- Assumptions: The success of these recommendations relies on the assumption that Exide can effectively implement the Raas platform and adapt to the evolving technological landscape.
6. Conclusion
By strategically leveraging its AR-enabled Raas platform, Exide can achieve significant growth and enhance its competitive advantage. The platform has the potential to transform Exide's business model, improve customer satisfaction, and drive innovation.
7. Discussion
Other alternatives not selected include:
- Focusing solely on traditional business models: This would limit Exide's growth potential and expose it to increasing competition from technologically advanced players.
- Partnering with other companies to develop the Raas platform: This could be a viable option, but it would require careful consideration of partnership terms and potential risks.
Risks and Key Assumptions:
- Technological disruption: The rapid pace of technological advancements could render the Raas platform obsolete.
- Customer adoption: Customers may be hesitant to adopt the Raas platform due to concerns about security or usability.
- Competition: Competitors may develop similar platforms, eroding Exide's competitive advantage.
8. Next Steps
Exide should implement the following next steps to leverage its Raas platform for growth:
- Develop a detailed implementation plan: Outline the specific steps required to expand the Raas platform's deployment and integration.
- Allocate resources: Secure the necessary financial and human resources to support the Raas platform's development and implementation.
- Monitor progress and adapt: Regularly track the Raas platform's performance and make adjustments as needed.
- Communicate with stakeholders: Keep stakeholders informed about the Raas platform's development and progress.
By taking these steps, Exide can successfully leverage its AR-enabled Raas platform to drive growth, enhance its competitive advantage, and achieve its strategic goals.
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Case Description
In 2020, the COVID-19 pandemic created unprecedented challenges for businesses worldwide. With operations halted and supply chains disrupted, Exide Industries Limited (EIL), a prominent name in India's battery sector, found itself at a pivotal juncture. It had a machine imported from Italy that was critical to its manufacturing operations sitting uncommissioned due to travel restrictions. An innovative solution was proposed to adopt an augmented reality (AR) solution for remote support, which could potentially transform EIL's manufacturing operations, but also raised questions about the feasibility and implications of integrating this technology. EIL had to weigh strategic, operational, and technological considerations to decide whether to embark on this technological innovation and service transformation path during a global crisis.
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