Harvard Case - Sharp Corporation: Beyond Japan
"Sharp Corporation: Beyond Japan" Harvard business case study is written by Derek Lehmberg. It deals with the challenges in the field of General Management. The case study is 16 page(s) long and it was first published on : Mar 9, 2011
At Fern Fort University, we recommend a strategic shift for Sharp Corporation, focusing on leveraging its strengths in innovation, technology, and manufacturing to achieve global growth while maintaining its core values. This strategy involves a multi-pronged approach encompassing market expansion, product diversification, and organizational transformation.
2. Background
Sharp Corporation, a Japanese electronics giant, faced declining profitability and market share in the late 2000s. The company was heavily reliant on its home market and struggling to compete with global rivals like Samsung and LG. The case study highlights Sharp's attempts to revitalize its business through acquisitions, partnerships, and a focus on new technologies like LCD panels and solar energy. However, these efforts were met with mixed results, leaving the company at a crossroads.
The main protagonists of the case study are:
- Mikio Katayama: CEO of Sharp Corporation, tasked with leading the company's turnaround.
- Sharp's Board of Directors: Responsible for overseeing the company's strategic decisions.
- Sharp's Management Team: Charged with implementing the company's strategic plan.
- Sharp's Employees: The backbone of the company's operations and critical to its success.
3. Analysis of the Case Study
To analyze Sharp's situation, we can utilize a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong brand recognition, technological expertise, manufacturing capabilities, and a focus on innovation.
- Weaknesses: Dependence on the Japanese market, limited global brand presence, and a bureaucratic organizational structure.
- Opportunities: Expanding into emerging markets, diversifying product offerings, and leveraging technology for new business models.
- Threats: Intense competition from global players, technological disruption, and economic volatility.
2. Porter's Five Forces:
- Threat of New Entrants: High, due to the relatively low barriers to entry in the electronics industry.
- Bargaining Power of Buyers: Moderate, as consumers have many choices and can easily switch brands.
- Bargaining Power of Suppliers: Moderate, as Sharp relies on a diverse range of suppliers.
- Threat of Substitute Products: High, due to the constant emergence of new technologies and product categories.
- Rivalry Among Existing Competitors: High, with intense competition from established players like Samsung, LG, and Sony.
3. Balanced Scorecard:
- Financial Perspective: Improve profitability, increase revenue, and optimize financial performance.
- Customer Perspective: Enhance brand value, expand market share, and improve customer satisfaction.
- Internal Processes Perspective: Streamline operations, improve efficiency, and enhance product quality.
- Learning and Growth Perspective: Foster innovation, develop talent, and promote organizational learning.
4. Recommendations
To achieve sustainable growth and overcome its challenges, Sharp should implement the following recommendations:
1. Global Expansion Strategy:
- Target Emerging Markets: Focus on high-growth regions like Southeast Asia, India, and Latin America, where demand for electronics is booming.
- Tailor Products and Marketing: Adapt product offerings and marketing campaigns to cater to local preferences and cultural nuances.
- Strategic Partnerships: Collaborate with local distributors and retailers to establish a strong market presence.
2. Product Diversification:
- Expand into New Product Categories: Explore opportunities in emerging technology areas like AI, IoT, and renewable energy.
- Develop Niche Products: Create specialized products targeting specific customer segments with unique needs.
- Focus on Innovation: Invest in research and development to create cutting-edge products that differentiate Sharp from competitors.
3. Organizational Transformation:
- Agile Organizational Structure: Implement a more flexible and responsive organizational structure to adapt to changing market conditions.
- Empowerment and Innovation: Encourage employee creativity and innovation through cross-functional teams and open communication channels.
- Talent Management: Invest in attracting, developing, and retaining top talent with global experience and diverse skillsets.
4. Digital Transformation:
- Leverage Technology: Utilize data analytics, AI, and machine learning to optimize operations, personalize customer experiences, and improve decision-making.
- E-commerce Platform: Develop a robust online presence to reach a wider customer base and enhance customer convenience.
- Digital Marketing: Employ digital marketing strategies to target specific customer segments and build brand awareness.
5. Corporate Social Responsibility:
- Environmental Sustainability: Implement sustainable manufacturing practices and promote eco-friendly products.
- Ethical Business Practices: Adhere to high ethical standards in all business dealings, fostering trust with stakeholders.
- Community Engagement: Engage in social responsibility initiatives to build positive relationships with local communities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Leverage Sharp's existing strengths in technology, innovation, and manufacturing to drive growth while remaining true to its core values.
- External Customers and Internal Clients: Address the needs of diverse customer segments globally while fostering a positive and productive work environment for employees.
- Competitors: Differentiate Sharp from competitors through innovation, product quality, and customer experience.
- Attractiveness: The recommendations are expected to generate positive financial returns, increase market share, and enhance brand value.
6. Conclusion
Sharp Corporation has a strong foundation for success. By embracing a strategic shift towards global expansion, product diversification, organizational transformation, and digital transformation, the company can regain its competitive edge and achieve sustainable growth. This approach will require a commitment to innovation, customer-centricity, and ethical business practices.
7. Discussion
Alternatives:
- Mergers and Acquisitions: While acquisitions can provide access to new markets and technologies, they can also be risky and require careful integration.
- Joint Ventures: Partnerships with other companies can offer access to resources and expertise, but they can also lead to conflicts of interest and cultural clashes.
- Focusing Solely on the Japanese Market: This would limit Sharp's growth potential and make it more vulnerable to economic downturns.
Risks and Key Assumptions:
- Economic Volatility: Global economic conditions can impact demand for electronics, requiring Sharp to adapt its strategies.
- Technological Disruption: Rapid advancements in technology can render existing products obsolete, necessitating continuous innovation.
- Competition: Intense competition from global players requires Sharp to maintain a strong competitive advantage.
8. Next Steps
To implement these recommendations, Sharp should:
- Develop a detailed strategic plan: Define specific goals, timelines, and resource allocation for each initiative.
- Establish a dedicated team: Assemble a team of experienced professionals to lead the transformation process.
- Communicate effectively: Share the strategic vision with employees and stakeholders to build buy-in and support.
- Monitor progress and adjust as needed: Regularly evaluate the effectiveness of the strategies and make necessary adjustments.
By taking these steps, Sharp can position itself for success in the global electronics market and secure a bright future for its business.
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Case Description
Faced with major losses from operations, Sharp Corporation's young and unconventional president questioned the company's long-standing operating model. Sharp was a leader in the area of liquid crystal display (LCD) technology and manufacturing. It also held strong positions in several categories of consumer electronics in the Japanese market. Although Sharp had been increasing its involvement in overseas markets, it had yet to replicate its successes overseas. Sharp's operating model placed sensitive, high-value-added operations, such as research, development and component manufacturing near its headquarters in Japan. The company jealously guarded its LCD knowhow and had implemented strict security measures at its LCD panel plants. As Sharp's international sales grew, limitations with its business model became apparent. Operating primarily in Japan had drawbacks, such as exposure to currency risk, high infrastructure cost and high taxes. Additionally, the logistics of shipping large items, such as LCDs and solar panels, overseas presented other dilemmas. Sharp needed to reconsider this model and develop an approach that was more suitable to the environment it now competed in.
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