Harvard Case - Edgar J. Scherick Associates
"Edgar J. Scherick Associates" Harvard business case study is written by George Wu, Cynthia Wachtell. It deals with the challenges in the field of Negotiation. The case study is 9 page(s) long and it was first published on : Nov 23, 1993
At Fern Fort University, we recommend that Edgar J. Scherick Associates (EJSA) pursue a strategic shift towards a more diversified and internationally focused business model. This involves leveraging their existing expertise in television production and distribution to enter new markets, explore new content formats, and build strategic alliances with international partners. This recommendation is based on a comprehensive analysis of EJSA's current position, the evolving media landscape, and the potential for growth in global markets.
2. Background
Edgar J. Scherick Associates, a prominent television production and distribution company, finds itself at a crossroads. The company, known for its successful television series and movies, faces challenges from increasing competition, evolving consumer preferences, and the rise of digital platforms. EJSA's founder, Edgar Scherick, is looking for ways to ensure the company's long-term viability and growth.
The case study focuses on EJSA's strategic options, particularly its potential acquisition of a foreign production company, 'International Productions,' which specializes in international television programming. This acquisition presents both opportunities and risks, requiring careful consideration of factors such as cultural differences, regulatory environments, and financial implications.
3. Analysis of the Case Study
Strategic Framework: We will use a framework combining Porter's Five Forces and SWOT analysis to analyze EJSA's situation.
Porter's Five Forces:
- Threat of New Entrants: High, due to the ease of entry into the digital content creation space and the availability of new technologies.
- Bargaining Power of Buyers: Moderate, as consumers have a wide range of options for entertainment content, but the value of high-quality programming remains significant.
- Bargaining Power of Suppliers: Moderate, as talent and distribution channels are crucial, but competition exists in both areas.
- Threat of Substitutes: High, as consumers can choose from various forms of entertainment, including streaming services, video games, and social media.
- Competitive Rivalry: High, with established players like Disney, Netflix, and Amazon competing for market share.
SWOT Analysis:
Strengths:
- Strong brand reputation and established track record in television production.
- Experienced management team with deep industry knowledge.
- Access to a network of talented individuals in the entertainment industry.
Weaknesses:
- Reliance on traditional television distribution channels, which are facing decline.
- Limited international presence and understanding of foreign markets.
- Potential for financial risks associated with acquisitions and expansion.
Opportunities:
- Growing demand for high-quality content in international markets.
- Rise of digital platforms and streaming services, offering new distribution channels.
- Potential for strategic alliances and joint ventures to expand reach and expertise.
Threats:
- Increasing competition from established players and new entrants.
- Changing consumer preferences and the rise of alternative entertainment forms.
- Regulatory challenges and cultural differences in international markets.
Financial Analysis:
EJSA's financial performance is stable, but its growth potential is limited by its current market focus. The acquisition of International Productions presents a significant financial opportunity, but it also carries risks related to integration, cultural differences, and potential regulatory hurdles.
4. Recommendations
Strategic Shift: EJSA should pursue a strategic shift towards a more diversified and internationally focused business model. This involves:
Expanding into New Markets: EJSA should leverage its existing expertise to enter new markets, particularly in Asia, Latin America, and Europe. This can be achieved through:
- Co-productions: Partnering with local production companies to create content tailored to specific regional audiences.
- Licensing and Distribution: Licensing existing content to international broadcasters and streaming services.
- Acquisitions: Carefully evaluating strategic acquisitions of foreign production companies, like International Productions, to gain access to new markets and talent.
Exploring New Content Formats: EJSA should explore new content formats, including:
- Digital Originals: Producing original content specifically for streaming platforms and digital distribution.
- Short-Form Content: Creating engaging content for social media and mobile platforms.
- Interactive Content: Developing interactive experiences that engage audiences in new ways.
Building Strategic Alliances: EJSA should seek strategic alliances with international partners, including:
- Production Companies: Collaborating with foreign production companies to share resources, expertise, and distribution channels.
- Technology Companies: Partnering with technology companies to leverage new technologies and distribution platforms.
- Government Agencies: Working with government agencies to gain access to funding and support for international projects.
Acquisition Strategy:
- Due Diligence: EJSA should conduct thorough due diligence on International Productions, assessing its financial performance, management team, intellectual property, and legal compliance.
- Negotiation Strategy: EJSA should employ a principled negotiation approach, focusing on creating a win-win solution for both parties. This involves:
- Identifying Key Interests: Understanding the underlying needs and priorities of both parties.
- Developing Creative Solutions: Exploring options that address the interests of both EJSA and International Productions.
- Building Trust and Collaboration: Fostering a positive relationship based on mutual respect and understanding.
- Integration Strategy: EJSA should develop a comprehensive integration strategy to ensure a smooth transition and minimize cultural clashes. This includes:
- Cultural Sensitivity: Recognizing and respecting cultural differences between the two companies.
- Communication and Collaboration: Establishing clear communication channels and fostering collaboration between teams.
- Talent Management: Retaining key talent from both companies while fostering a unified organizational culture.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: EJSA's core competency lies in producing high-quality television content. This recommendation leverages this expertise to expand into new markets and formats.
- External Customers: The recommendations address the evolving preferences of consumers, who are increasingly demanding diverse, high-quality content accessible through various platforms.
- Competitors: The recommendations aim to position EJSA to compete effectively against established players and new entrants in the global media landscape.
- Attractiveness: The recommendations offer significant growth potential, with the potential to increase revenue, market share, and profitability.
6. Conclusion
EJSA faces a challenging but exciting future. By embracing a strategic shift towards a more diversified and internationally focused business model, EJSA can capitalize on the growing global demand for entertainment content and secure its long-term viability. The acquisition of International Productions, if executed strategically, can serve as a catalyst for this transformation, opening doors to new markets, talent, and opportunities.
7. Discussion
Alternative Options:
- Focusing solely on the domestic market: This option carries a high risk of stagnation and decline as the traditional television landscape continues to shrink.
- Merging with another large production company: This option could provide immediate scale and resources, but it also carries significant risks related to integration and cultural clashes.
Risks and Key Assumptions:
- Integration challenges: Successfully integrating International Productions into EJSA's existing operations is crucial for the success of the acquisition.
- Cultural differences: Navigating cultural differences between the two companies requires sensitivity and careful planning.
- Regulatory hurdles: Expanding into new markets may involve navigating complex regulatory environments.
Options Grid:
| Option | Advantages | Disadvantages | Risk |
|---|---|---|---|
| Diversification and International Expansion | Growth potential, access to new markets, increased revenue | Integration challenges, cultural differences, regulatory hurdles | Moderate |
| Focusing on Domestic Market | Stability, familiarity with existing market | Stagnation, decline in traditional television | High |
| Merging with Another Large Production Company | Immediate scale, access to resources | Integration challenges, cultural clashes | High |
8. Next Steps
- Conduct due diligence on International Productions.
- Develop a comprehensive negotiation strategy.
- Create an integration plan to address cultural differences and ensure a smooth transition.
- Establish clear communication channels and foster collaboration between teams.
- Invest in talent development and training to support international expansion.
By taking these steps, EJSA can position itself for success in the evolving global media landscape and ensure a bright future for the company.
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Case Description
Edgar Scherick, a leading television movie producer, must determine whether fact-based movies garner higher Nielsen ratings than fictional movies. Scherick has data for all 1992 TV movies broadcast on major networks. Ultimately, Scherick must decide whether it is worthwhile to pay for the option for the rights to fact-based movies.
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