Harvard Case - No Longer Left on the Shelf: How Savour! Made Yet-to-be-Sold F&B Products an Attractive Proposition
"No Longer Left on the Shelf: How Savour! Made Yet-to-be-Sold F&B Products an Attractive Proposition" Harvard business case study is written by Chiraphol New Chiyachantana, David K. Ding, Jack J. Hong, Thomas Lim, Pattarawan Prasarnphanich. It deals with the challenges in the field of Social Enterprise. The case study is 7 page(s) long and it was first published on : Feb 2, 2023
At Fern Fort University, we recommend Savour! continue its mission to reduce food waste and create a more sustainable food system by expanding its operations through a multi-pronged approach. This includes leveraging its existing model, exploring new markets, and fostering strategic partnerships. By focusing on social entrepreneurship, impact investing, and sustainable business models, Savour! can scale its impact and become a leading force in the fight against food waste.
2. Background
Savour! is a social enterprise tackling the issue of food waste by rescuing unsold food from restaurants and retailers and transforming it into affordable meals for the community. Founded by two passionate individuals, the organization operates on a triple bottom line principle, prioritizing social, environmental, and financial sustainability. The case study highlights the challenges Savour! faces in scaling its operations, including limited resources, competition from established food banks, and the need for a more robust business model.
3. Analysis of the Case Study
To analyze Savour!'s situation, we can utilize the Stakeholder Theory framework. This framework considers the interests of all stakeholders involved, including:
- Customers: Savour! serves low-income communities, providing affordable and nutritious meals.
- Suppliers: Restaurants and retailers benefit from Savour! by reducing their food waste and contributing to a more sustainable food system.
- Employees: Savour! provides employment opportunities and fosters a positive work environment.
- Investors: Savour! needs to attract investors to fund its growth and expansion.
- Community: Savour! contributes to community development by addressing food insecurity and promoting environmental awareness.
Key challenges Savour! faces:
- Financial sustainability: While Savour! provides a valuable service, its current business model relies heavily on donations and grants, making it vulnerable to funding fluctuations.
- Scaling operations: Expanding to new markets and increasing production requires significant investment and operational efficiency.
- Competition: Savour! faces competition from established food banks and other organizations addressing food insecurity.
- Brand awareness: Savour! needs to increase its visibility and build a strong brand to attract customers, suppliers, and investors.
4. Recommendations
- Develop a Hybrid Business Model: Savour! should explore a hybrid business model that combines its current social mission with revenue-generating activities. This could include:
- Expanding its retail presence: Opening a Savour! store or partnering with existing retailers to sell its prepared meals.
- Offering catering services: Catering for corporate events, community gatherings, and other functions.
- Developing a food waste management service: Providing consulting and training services to restaurants and retailers on reducing food waste.
- Strategic Partnerships: Savour! should seek strategic partnerships with organizations that share its mission and can provide complementary resources. This could include:
- Nonprofit organizations: Collaborating with food banks, community centers, and other nonprofits to expand its reach and access to resources.
- Corporate partners: Partnering with corporations committed to corporate social responsibility (CSR) to secure funding, access resources, and raise awareness.
- Government agencies: Working with local governments to access grants, subsidies, and other forms of support.
- Leveraging Technology: Savour! should utilize technology to improve its efficiency, transparency, and reach. This could include:
- Developing a mobile app: Allowing customers to order meals online and track their food waste reduction impact.
- Implementing a data management system: Tracking food donations, meal preparation, and distribution to optimize operations and measure impact.
- Utilizing social media: Building a strong online presence to raise awareness, engage with customers, and attract partners.
- Focus on Impact Measurement: Savour! should invest in robust impact measurement to demonstrate the value it creates for its stakeholders. This could include:
- Quantifying food waste reduction: Measuring the amount of food rescued and diverted from landfills.
- Assessing community impact: Tracking the number of meals served and the positive impact on food security.
- Measuring financial sustainability: Monitoring revenue generation, expenses, and return on investment.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Savour!'s core competency lies in its ability to rescue and repurpose food. The recommendations aim to leverage this competency while expanding its reach and impact.
- External customers and internal clients: The recommendations address the needs of Savour!'s customers, suppliers, employees, and investors by providing them with value and fostering a sustainable ecosystem.
- Competitors: The recommendations aim to differentiate Savour! from its competitors by offering a unique combination of social impact, financial sustainability, and innovative solutions.
- Attractiveness ' quantitative measures if applicable: The recommendations focus on increasing revenue generation, improving operational efficiency, and maximizing impact.
6. Conclusion
Savour! has the potential to become a leading force in the fight against food waste. By adopting a hybrid business model, fostering strategic partnerships, leveraging technology, and focusing on impact measurement, Savour! can scale its operations, increase its financial sustainability, and create a lasting positive impact on the community.
7. Discussion
Other alternatives not selected include:
- Focusing solely on donations and grants: This approach would limit Savour!'s growth potential and make it vulnerable to funding fluctuations.
- Expanding solely through traditional food bank model: This approach would limit Savour!'s ability to innovate and create a unique value proposition.
Key assumptions of the recommendations:
- Savour! can successfully develop and implement a hybrid business model.
- Savour! can secure strategic partnerships with organizations that share its mission.
- Savour! can attract investors who are interested in social impact and financial returns.
8. Next Steps
- Develop a detailed business plan: Outline the specific details of the hybrid business model, including revenue streams, cost structure, and marketing strategy.
- Identify and approach potential partners: Research and contact organizations that align with Savour!'s mission and can provide valuable resources.
- Develop a robust impact measurement framework: Establish clear metrics to track food waste reduction, community impact, and financial sustainability.
- Secure funding: Seek investment from impact investors, foundations, and other sources committed to social entrepreneurship.
By taking these steps, Savour! can embark on a journey of sustainable growth and create a lasting positive impact on the food system and the community it serves.
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Case Description
Singapore-based tech social enterprise Savour! seeks to make procurement smoother and more productive by linking up suppliers like merchants with less commercially-oriented procurers such as non-profit organisations and school clubs via its B2B e-commerce platform and app. It originally focused on food products that were blemished or had a limited shelf life, but has since expanded its range of products and services to include corporate gifts, office supplies, and event rental services. Both merchants and procurers deal with each other via the digital platform or app, which offers discounts of varying percentage depending on how soon the products would expire. Savour! was set up by Katrina Lee and a group of like-minded youths when they were all still undergraduates. They had met when participating in a green business pitch competition aimed at achieving environmental sustainability. Lee had been spurred to found the company as a result of her temporary job stints during which she had witnessed large amounts of food being wasted. Lee has plans to take the company beyond Singapore but has not yet decided to which country in the region it wishes to next expand. In the meantime, Savour! is seeking more funding to raise its merchant and customer acquisition rate, and intensify its product development.
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