Harvard Case - Sawchyn Guitars: Can an Old Business Learn New Tricks?
"Sawchyn Guitars: Can an Old Business Learn New Tricks?" Harvard business case study is written by Meredith Woodwark, Matthew Wong. It deals with the challenges in the field of General Management. The case study is 13 page(s) long and it was first published on : Aug 23, 2013
At Fern Fort University, we recommend Sawchyn Guitars pursue a strategic transformation focused on digitalization, innovation, and market expansion. This approach will leverage their rich heritage and craftsmanship while embracing the opportunities presented by the evolving music industry and global markets.
2. Background
Sawchyn Guitars is a family-owned business with a long history of crafting high-quality acoustic guitars. Facing declining sales and increasing competition, the company is at a crossroads. The current generation of leadership, represented by John Sawchyn, is grappling with the need to modernize operations, reach new customers, and ensure the business's long-term viability.
The case study highlights the main protagonists:
- John Sawchyn: The current owner and CEO, struggling to balance tradition with the need for change.
- The Sawchyn Family: The family's deep connection to the business and its legacy presents both a source of strength and a potential obstacle to change.
- The Employees: Loyal and skilled craftspeople, but potentially resistant to new technologies and processes.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand reputation: Sawchyn Guitars enjoys a reputation for quality and craftsmanship.
- Experienced workforce: The company boasts skilled artisans with years of experience.
- Unique selling proposition: Handcrafted guitars offer a distinctive value proposition in a market dominated by mass-produced instruments.
Weaknesses:
- Limited marketing reach: Traditional marketing efforts are insufficient to reach new customer segments.
- Lack of digital presence: The company lacks a robust online presence and e-commerce capabilities.
- Resistance to change: The family-owned structure and traditional culture may hinder innovation and adaptation.
Opportunities:
- Growing global demand for acoustic guitars: The market for acoustic guitars is expanding, particularly in emerging markets.
- Digital marketing and e-commerce: Leveraging online platforms can expand reach and connect with new customers.
- Innovation in materials and design: Exploring new materials and technologies can enhance sound quality and appeal.
Threats:
- Increased competition from mass-produced guitars: Lower-priced instruments from established brands pose a significant threat.
- Changing consumer preferences: Younger generations may favor electric guitars or digital instruments.
- Economic fluctuations: Global economic uncertainty can impact consumer spending on luxury items like guitars.
Porter's Five Forces:
- Threat of new entrants: Relatively low due to the high barriers to entry in the handcrafted guitar market.
- Bargaining power of buyers: Moderate, as customers have a range of options available.
- Bargaining power of suppliers: Low, as the company sources materials from multiple suppliers.
- Threat of substitutes: High, due to the availability of electric guitars, digital instruments, and other alternatives.
- Rivalry among existing competitors: High, with established brands and emerging competitors vying for market share.
Key Challenges:
- Balancing tradition with innovation: Maintaining the company's craftsmanship while embracing new technologies and processes.
- Reaching new customer segments: Expanding beyond the traditional customer base and appealing to younger generations.
- Building a strong digital presence: Developing an effective online marketing strategy and e-commerce platform.
- Managing change within the organization: Overcoming resistance to change and fostering a culture of innovation.
4. Recommendations
1. Digital Transformation:
- Develop a comprehensive digital strategy: This should include a website with e-commerce capabilities, social media marketing, online advertising, and content creation.
- Invest in technology and analytics: Implement CRM systems, data analytics tools, and e-commerce platforms to optimize operations and customer engagement.
- Build an online community: Engage with customers through social media, forums, and online events to foster brand loyalty and gather valuable feedback.
2. Product Innovation and Expansion:
- Explore new materials and designs: Experiment with innovative materials and construction techniques to enhance sound quality, durability, and aesthetic appeal.
- Expand product offerings: Introduce new models, including travel guitars, electric-acoustic hybrids, and limited-edition instruments, to cater to diverse customer preferences.
- Collaborate with artists and musicians: Partner with renowned musicians to create signature models and generate buzz within the music community.
3. Market Expansion:
- Target emerging markets: Explore opportunities in countries with growing music markets, such as China, India, and Brazil.
- Develop international distribution channels: Partner with distributors and retailers to expand global reach.
- Adapt marketing strategies to local markets: Tailor marketing campaigns and product offerings to suit the preferences and cultural nuances of different regions.
4. Organizational Change Management:
- Communicate the vision clearly: Explain the rationale behind the transformation and the benefits for the company, employees, and customers.
- Involve employees in the process: Seek input from employees on new ideas, processes, and technologies.
- Provide training and development: Equip employees with the skills and knowledge needed to adapt to the changing environment.
- Recognize and reward innovation: Incentivize employees to contribute to the company's transformation and embrace new ideas.
5. Corporate Social Responsibility:
- Promote sustainable practices: Implement environmentally friendly manufacturing processes, source sustainable materials, and reduce waste.
- Support music education: Partner with schools and community organizations to promote music education and access to musical instruments.
- Engage in ethical business practices: Maintain high ethical standards in all aspects of the business, from sourcing materials to interacting with customers.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the company's strengths, weaknesses, opportunities, and threats, as well as the evolving music industry landscape. They consider the following:
- Core competencies and consistency with mission: The recommendations leverage Sawchyn Guitars' core competencies in craftsmanship and quality while embracing innovation and digitalization to maintain their mission of creating exceptional instruments.
- External customers and internal clients: The recommendations address the needs of both existing and potential customers, while also considering the concerns and perspectives of employees.
- Competitors: The recommendations highlight the need to differentiate Sawchyn Guitars from competitors by focusing on quality, craftsmanship, and innovation.
- Attractiveness - quantitative measures: While specific financial projections are not provided in the case study, the recommendations aim to increase revenue, market share, and profitability through digitalization, product innovation, and market expansion.
- Assumptions: The recommendations assume that Sawchyn Guitars has the resources and commitment to implement the proposed changes, and that the music industry will continue to evolve and offer opportunities for growth.
6. Conclusion
By embracing digital transformation, product innovation, market expansion, and organizational change management, Sawchyn Guitars can position itself for success in the evolving music industry. This approach will leverage their rich heritage and craftsmanship while appealing to new generations of musicians and music enthusiasts.
7. Discussion
Alternative Options:
- Maintain the status quo: This option carries significant risks, as the company would likely continue to lose market share and struggle to compete.
- Focus solely on cost reduction: While cost reduction measures may be necessary, they are not a sustainable long-term strategy for growth.
- Sell the business to a larger corporation: This option would provide immediate financial benefits but could compromise the company's legacy and craftsmanship.
Risks and Key Assumptions:
- Implementation challenges: Successfully implementing the proposed changes will require significant effort, resources, and commitment from all stakeholders.
- Market volatility: The music industry is subject to fluctuations in consumer demand, economic conditions, and technological advancements.
- Competition: The competitive landscape is dynamic, and new competitors may emerge.
Options Grid:
| Option | Strengths | Weaknesses | Risks |
|---|---|---|---|
| Digital transformation, innovation, and market expansion | Leverage core competencies, appeal to new customers, future-proof the business | Requires investment and change management | Implementation challenges, market volatility, competition |
| Maintain the status quo | Preserve tradition, minimize disruption | Lose market share, fail to adapt | Decline in sales, irrelevance, potential closure |
| Focus solely on cost reduction | Short-term financial benefits | Not sustainable for growth, damage brand reputation | Loss of skilled employees, decline in quality |
| Sell the business to a larger corporation | Immediate financial benefits | Loss of control, potential compromise of legacy | Loss of family ownership, uncertainty about future direction |
8. Next Steps
Timeline:
- Year 1: Develop a comprehensive digital strategy, invest in technology and analytics, launch an e-commerce platform, introduce new product models, explore emerging markets, and begin organizational change management initiatives.
- Year 2: Expand digital marketing efforts, refine product offerings, establish international distribution channels, implement sustainable practices, and further develop employee training programs.
- Year 3: Consolidate gains, monitor progress, adjust strategies as needed, and continue to innovate and adapt to market trends.
Key Milestones:
- Develop a digital strategy and website: Within six months.
- Launch e-commerce platform: Within one year.
- Introduce new product models: Within one year.
- Establish international distribution channels: Within two years.
- Implement sustainable practices: Within two years.
- Develop employee training programs: Ongoing.
By taking these steps, Sawchyn Guitars can successfully navigate the challenges and opportunities of the 21st century music industry, ensuring the company's continued legacy of craftsmanship and innovation.
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Case Description
AWARD WINNING CASE - Laurier School of Business and Economics Best Case Award 2013. The owner of Sawchyn Guitars makes fine handmade acoustic guitars and mandolins. After 40 years of operating from a two-storey backyard garage, he contemplates a shift from a solely custom-order business to a storefront location. Although his custom-order business is still strong, the owner sees the opportunity to realize his dream of providing a full-service musical instrument haven for the local music community through a proper storefront. After opening a new retail location, public reception to the new store is overwhelmingly positive, but the success in new business lines restricts the capacity to build new instruments. Despite the enthusiastic response to the store, the business is experiencing unanticipated growing pains related to managing small-business growth.
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