Harvard Case - Vietnam Handicraft Initiative: Moving Toward Sustainable Operations
"Vietnam Handicraft Initiative: Moving Toward Sustainable Operations" Harvard business case study is written by Sarah Easter, Mary Conway Dato-on. It deals with the challenges in the field of General Management. The case study is 11 page(s) long and it was first published on : Oct 1, 2012
At Fern Fort University, we recommend a multi-pronged approach for the Vietnam Handicraft Initiative (VHI) to achieve sustainable operations and growth. This strategy focuses on strengthening VHI's core competencies, enhancing its market position, and fostering a culture of innovation and sustainability. We recommend a phased approach to implement these recommendations, starting with immediate actions to address critical issues and then transitioning to longer-term initiatives for sustainable growth.
2. Background
The Vietnam Handicraft Initiative (VHI) is a non-profit organization dedicated to promoting the sustainable development of Vietnam's handicraft industry. VHI faces challenges in achieving its mission due to factors like:
- Competition: VHI faces competition from both domestic and international players, including large-scale manufacturers and online marketplaces.
- Sustainability: VHI struggles to balance economic viability with environmental and social sustainability, especially in light of changing consumer preferences and global trends.
- Limited Resources: VHI operates with limited financial and human resources, hindering its ability to implement ambitious initiatives.
- Lack of Market Access: VHI's artisans often struggle to reach wider markets and compete with larger players due to limited marketing and distribution channels.
The case study focuses on VHI's efforts to improve its operations and achieve sustainable growth. Key protagonists include:
- Nguyen Van Minh: The founder and CEO of VHI, passionate about preserving Vietnam's traditional handicrafts.
- VHI Staff: Dedicated individuals working to support artisans and promote sustainable practices.
- Artisans: Skilled craftspeople who rely on VHI for market access and support.
3. Analysis of the Case Study
To analyze VHI's situation, we utilize a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong commitment to social responsibility, unique and high-quality products, skilled artisans, and a growing demand for handcrafted goods.
- Weaknesses: Limited financial resources, lack of marketing expertise, inadequate infrastructure, and dependence on traditional production methods.
- Opportunities: Growing global demand for sustainable products, increasing interest in cultural experiences, potential for e-commerce expansion, and government support for traditional crafts.
- Threats: Competition from mass-produced goods, fluctuating raw material costs, environmental regulations, and potential disruptions to supply chains.
2. Porter's Five Forces:
- Threat of New Entrants: Low due to the specialized nature of the craft industry and the need for skilled artisans.
- Bargaining Power of Buyers: Moderate, as consumers have a growing preference for sustainable and unique products, but they also have access to alternative options.
- Bargaining Power of Suppliers: Low, as artisans rely on VHI for market access and support.
- Threat of Substitute Products: High, as mass-produced goods offer cheaper alternatives.
- Competitive Rivalry: High, as VHI competes with both domestic and international players.
3. Balanced Scorecard:
- Financial Perspective: Increase revenue, improve profitability, secure funding sources.
- Customer Perspective: Expand market reach, enhance customer satisfaction, build brand loyalty.
- Internal Processes Perspective: Optimize production processes, improve supply chain management, enhance product quality.
- Learning and Growth Perspective: Develop innovative products, foster employee skills, promote sustainability practices.
4. Recommendations
VHI should implement the following recommendations to achieve sustainable growth:
Phase 1: Immediate Actions
- Strengthen Financial Sustainability:
- Diversify Revenue Streams: Explore new revenue streams beyond traditional sales, such as workshops, tourism packages, and licensing agreements.
- Secure Funding: Actively seek grants, partnerships, and investments from socially responsible organizations and impact investors.
- Enhance Marketing and Distribution:
- Develop a Comprehensive Marketing Strategy: Target niche markets, utilize social media, and leverage online platforms like Etsy and Amazon Handmade.
- Expand Distribution Channels: Partner with retailers, participate in craft fairs, and explore direct-to-consumer sales options.
- Improve Operational Efficiency:
- Streamline Production Processes: Implement lean manufacturing techniques to reduce waste and improve efficiency.
- Upgrade Technology: Invest in technology solutions for inventory management, order tracking, and online sales.
- Foster a Culture of Sustainability:
- Develop Sustainable Practices: Implement eco-friendly materials, reduce waste, and promote ethical sourcing.
- Educate Artisans: Train artisans on sustainable practices, environmental awareness, and fair trade principles.
Phase 2: Long-Term Initiatives
- Product Development and Innovation:
- Develop New Product Lines: Explore innovative product designs, incorporate sustainable materials, and cater to evolving consumer preferences.
- Collaborate with Designers: Partner with designers to create unique and marketable products.
- Strengthen Brand Identity:
- Develop a Strong Brand Story: Highlight the cultural heritage, craftsmanship, and sustainability aspects of VHI's products.
- Build Brand Awareness: Engage in public relations, participate in industry events, and leverage social media marketing.
- Expand Market Reach:
- Target International Markets: Explore export opportunities, participate in international trade shows, and establish partnerships with overseas distributors.
- Develop an E-commerce Platform: Create a user-friendly online store to reach a wider audience.
- Develop a Sustainable Business Model:
- Implement a Fair Trade Policy: Ensure fair wages, working conditions, and ethical sourcing practices for artisans.
- Invest in Employee Training: Provide artisans with training on business skills, marketing, and sustainable practices.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission: The recommendations focus on strengthening VHI's core competencies in craftsmanship, sustainability, and social responsibility, aligning with its mission.
- External Customers and Internal Clients: The recommendations address the needs of both external customers seeking unique and sustainable products and internal clients (artisans) seeking market access and fair treatment.
- Competitors: The recommendations aim to differentiate VHI from competitors by emphasizing sustainability, craftsmanship, and cultural heritage.
- Attractiveness: The recommendations are expected to improve VHI's financial performance, expand its market reach, and enhance its brand reputation.
- Assumptions: The recommendations assume a growing demand for sustainable products, increasing interest in cultural experiences, and the availability of funding and partnerships.
6. Conclusion
By implementing these recommendations, VHI can achieve sustainable operations and growth, contributing to the preservation of Vietnam's handicraft heritage while empowering artisans and fostering economic development. The multi-pronged approach, focusing on strengthening core competencies, expanding market reach, and fostering a culture of innovation and sustainability, will enable VHI to thrive in a competitive global market.
7. Discussion
Alternative approaches include:
- Focusing solely on domestic markets: This could limit growth potential and expose VHI to economic fluctuations in Vietnam.
- Merging with a larger organization: This could provide access to resources and expertise but may compromise VHI's independence and mission.
Key risks and assumptions:
- Market demand: The success of the recommendations depends on the continued demand for sustainable and handcrafted products.
- Funding availability: Securing sufficient funding is crucial for implementing the recommendations.
- Competition: VHI needs to remain competitive and adapt to changing market trends.
8. Next Steps
VHI should implement the following steps to achieve its goals:
- Develop a detailed implementation plan: Outline timelines, responsibilities, and key performance indicators (KPIs) for each recommendation.
- Secure funding: Actively pursue grants, partnerships, and investments to support the implementation of the plan.
- Build a strong team: Recruit and develop skilled staff with expertise in marketing, finance, operations, and sustainability.
- Monitor progress and adapt: Regularly track progress against KPIs and adjust the plan as needed based on market conditions and emerging opportunities.
By taking these steps, VHI can position itself for sustainable growth and success, contributing to the vibrant and dynamic Vietnamese handicraft industry.
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Case Description
A recent MBA graduate has just received a one-year business assignment as a business development and marketing advisor to work with the Vietnam Handicraft Initiative (VHI), a vocational training and employment center for people with disabilities, located in Central Vietnam. Her job is to assist the VHI to increase its productivity, become sustainable and strengthen the capacity of the organization through improved business and marketing plans. Within the first four weeks of her arrival, she needs to detail her assessment of the VHI and provide key recommendations and focused work objectives for the remaining 11 months of her placement. She expects that the many cultural differences encountered along the way will provide a real challenge in accurately assessing the VHI and developing a detailed work plan.
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