Harvard Case - Made In Space, Expectations Management, and the Business of In-Space Manufacturing
"Made In Space, Expectations Management, and the Business of In-Space Manufacturing" Harvard business case study is written by Matthew C. Weinzierl, Mehak Sarang. It deals with the challenges in the field of General Management. The case study is 24 page(s) long and it was first published on : Dec 8, 2020
At Fern Fort University, we recommend Made In Space (MIS) adopt a strategic approach to manage expectations and capitalize on the burgeoning in-space manufacturing market. This approach involves a multi-pronged strategy encompassing product diversification, strategic partnerships, robust communication, and a strong focus on customer education. This will allow MIS to navigate the challenges of a rapidly evolving industry, foster trust with stakeholders, and ensure sustainable growth.
2. Background
Made In Space (MIS) is a trailblazing company pioneering the field of in-space manufacturing. Their flagship product, the 3D printer deployed on the International Space Station, has garnered significant attention and opened up possibilities for on-demand production in space. However, MIS faces challenges in managing expectations, particularly regarding the timeline for commercialization and the broader impact of their technology.
The case study focuses on the company's struggles to meet ambitious timelines and the resulting tension with investors and customers. This highlights the need for a well-defined strategic planning process and a clear understanding of the complex dynamics of the in-space manufacturing market.
3. Analysis of the Case Study
To analyze the case study, we can utilize the Porter's Five Forces framework, which examines the competitive landscape and identifies opportunities and threats.
- Threat of New Entrants: The in-space manufacturing market is attracting significant interest, with both established aerospace companies and startups vying for a foothold. This poses a competitive threat to MIS, requiring them to constantly innovate and maintain a competitive edge.
- Bargaining Power of Buyers: Early adopters of in-space manufacturing are likely to have significant bargaining power due to the novelty and limited availability of services. MIS needs to build strong relationships with these customers and demonstrate the value proposition of their technology.
- Bargaining Power of Suppliers: As the in-space manufacturing ecosystem develops, MIS will rely on a network of suppliers for components and materials. Maintaining strong partnerships with these suppliers will be crucial for ensuring cost-effectiveness and timely delivery.
- Threat of Substitute Products: While in-space manufacturing offers unique advantages, traditional manufacturing methods remain a viable alternative for certain applications. MIS needs to continuously develop new applications and demonstrate the clear benefits of in-space production.
- Competitive Rivalry: The in-space manufacturing market is expected to become increasingly competitive as more players enter the field. MIS needs to differentiate itself through its technology, expertise, and customer service to maintain a competitive advantage.
4. Recommendations
To address the challenges and capitalize on the opportunities outlined above, MIS should implement the following recommendations:
1. Product Diversification: MIS should expand its product portfolio beyond 3D printing to include other in-space manufacturing capabilities. This could involve developing technologies for:
- Material Processing: Developing processes for refining and processing raw materials in space, reducing reliance on Earth-based resources.
- Assembly and Robotics: Creating robotic systems capable of assembling structures and performing complex tasks in space.
- Space-Based Additive Manufacturing: Expanding the capabilities of 3D printing to accommodate a wider range of materials and applications.
2. Strategic Partnerships: MIS should forge strategic partnerships with key players in the aerospace industry, government agencies, and research institutions. These partnerships will provide access to:
- Funding and Resources: Securing funding for research and development, and leveraging the resources of partners.
- Technical Expertise: Collaborating with experts in areas such as materials science, robotics, and space systems engineering.
- Market Access: Gaining access to new markets and customer segments through partnerships.
3. Robust Communication: MIS should adopt a proactive communication strategy to manage expectations and build trust with stakeholders. This involves:
- Transparent Reporting: Regularly communicating progress, challenges, and milestones to investors, customers, and the public.
- Education and Outreach: Providing clear explanations of the technology, its potential applications, and the timeline for commercialization.
- Engaging with the Media: Actively engaging with the media to shape public perception and build awareness of the company's mission.
4. Customer Education: MIS should invest in customer education programs to highlight the unique benefits of in-space manufacturing and address concerns about cost, reliability, and timeline. This could include:
- Workshops and Training: Providing hands-on training and demonstrations to potential customers.
- Case Studies and Success Stories: Sharing real-world examples of successful in-space manufacturing projects.
- Online Resources and Documentation: Creating comprehensive online resources to educate customers about the technology and its applications.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with MIS's core competencies in 3D printing and space technology, and support its mission to revolutionize in-space manufacturing.
- External Customers and Internal Clients: The recommendations address the concerns of investors, customers, and the general public, while also fostering a culture of transparency and collaboration within the company.
- Competitors: The recommendations aim to position MIS as a leader in the emerging in-space manufacturing market, differentiating the company through its technology, partnerships, and customer-centric approach.
- Attractiveness ' Quantitative Measures: While quantifying the impact of these recommendations requires further analysis, the potential benefits include increased market share, stronger brand recognition, and greater investor confidence.
6. Conclusion
By adopting a strategic approach to managing expectations, diversifying its product portfolio, forging strategic partnerships, and prioritizing customer education, Made In Space can navigate the challenges of the in-space manufacturing market and position itself for long-term success. This will require a commitment to innovation, collaboration, and transparent communication, fostering a culture of trust and confidence among stakeholders.
7. Discussion
Other alternatives not selected include:
- Focusing solely on 3D printing: This approach carries the risk of limiting the company's growth potential and becoming vulnerable to competition.
- Rushing to market: This could lead to product failures and damage the company's reputation.
- Ignoring customer concerns: This could result in lost sales and a decline in investor confidence.
The key assumptions underlying these recommendations include:
- Continued government support for space exploration: Government funding plays a crucial role in the development of in-space manufacturing.
- Technological advancements in space-based manufacturing: The continued development of new technologies is essential for the growth of the industry.
- Growing demand for in-space manufacturing services: The market for in-space manufacturing is expected to grow significantly in the coming years.
8. Next Steps
To implement these recommendations, MIS should take the following steps:
- Develop a comprehensive strategic plan: This plan should outline the company's vision, mission, goals, and strategies for achieving them.
- Establish a dedicated team for product diversification: This team should be responsible for identifying and developing new in-space manufacturing capabilities.
- Identify and cultivate strategic partnerships: This includes establishing relationships with key players in the aerospace industry, government agencies, and research institutions.
- Develop a robust communication strategy: This strategy should include regular reporting, educational initiatives, and media outreach.
- Invest in customer education programs: This could involve workshops, training sessions, case studies, and online resources.
By taking these steps, Made In Space can establish itself as a leading player in the emerging in-space manufacturing market, paving the way for a future where production and innovation extend beyond the confines of Earth.
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Case Description
After having proven its base technology (3D printing) through NASA solicitations and contracts, Made In Space was searching for a viable commercial application. But the business case for the leading candidate, high-quality fiber optic cable for use on Earth, remained uncertain. In 2019, Made In Space secured a major contract from NASA for early work on a much grander project, called Archinaut, to build architectures in space that would enable off-Earth habitation. Was that opportunity a more promising path for Made In Space, or did its ambition risk distracting Made In Space from its more managed, incremental strategy? Which strategy would enable MIS to retain its central place in facilitating the development of the space economy?
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