Harvard Case - Preserve: Growing a Sustainable Consumer Goods Company
"Preserve: Growing a Sustainable Consumer Goods Company" Harvard business case study is written by Sinan Erzurumlu. It deals with the challenges in the field of Social Enterprise. The case study is 13 page(s) long and it was first published on : Mar 1, 2018
At Fern Fort University, we recommend Preserve adopt a hybrid organizational model that leverages its core strengths in social entrepreneurship and environmental sustainability while pursuing a growth strategy focused on market expansion and innovation. This strategy will involve building strategic alliances with nonprofit organizations and impact investors to scale its social impact while simultaneously developing new, sustainable business models to reach a wider consumer base.
2. Background
Preserve is a social enterprise dedicated to creating sustainable consumer goods made from recycled materials. Founded by Eric Hudson, Preserve has achieved significant success in its mission to reduce waste and promote environmental sustainability. However, the company faces challenges in scaling its operations and achieving profitability while maintaining its commitment to social impact.
The main protagonists of the case study are Eric Hudson, the founder and CEO of Preserve, and his team, who are grappling with the decision of whether to pursue a growth strategy focused on profitability or continue to prioritize social impact.
3. Analysis of the Case Study
Strengths:
- Strong mission and values: Preserve's commitment to environmental sustainability and social responsibility resonates with a growing segment of consumers.
- Innovative product offerings: Preserve's products are unique and address a growing market demand for sustainable alternatives.
- Strong brand reputation: Preserve has built a strong brand reputation for its commitment to social impact and environmental responsibility.
Weaknesses:
- Limited scale: Preserve's operations are currently limited, hindering its ability to achieve profitability.
- High production costs: The use of recycled materials and sustainable manufacturing processes contribute to higher production costs.
- Limited marketing reach: Preserve's marketing efforts have been primarily focused on niche markets, limiting its potential for wider market penetration.
Opportunities:
- Growing market for sustainable products: Consumers are increasingly demanding sustainable products, creating a significant market opportunity for Preserve.
- Partnerships with nonprofits and impact investors: Collaborating with nonprofit organizations and impact investors can provide access to funding, expertise, and a wider network.
- Innovation in sustainable business models: Exploring new business models that combine social impact with profitability can unlock significant growth potential.
Threats:
- Competition from established brands: Preserve faces competition from established brands that are increasingly incorporating sustainability into their product offerings.
- Economic fluctuations: Economic downturns can impact consumer spending on sustainable products, potentially affecting Preserve's sales.
- Regulatory changes: Changes in government regulations related to environmental sustainability could impact Preserve's operations.
Framework:
To analyze Preserve's situation, we can utilize the Triple Bottom Line (TBL) framework, which emphasizes the importance of considering social, environmental, and economic factors in decision-making. This framework aligns with Preserve's mission and values and provides a comprehensive lens for evaluating its growth strategy.
4. Recommendations
1. Hybrid Organizational Model:
Preserve should adopt a hybrid organizational model that combines the principles of social entrepreneurship with a commercially viable business model. This model will allow Preserve to maintain its commitment to social impact while pursuing profitable growth.
2. Strategic Alliances:
Preserve should actively seek strategic alliances with nonprofit organizations and impact investors to leverage their expertise, funding, and networks. These partnerships can help Preserve scale its social impact, access new markets, and secure funding for growth.
3. Innovation in Sustainable Business Models:
Preserve should invest in innovation to develop new sustainable business models that are both profitable and socially impactful. This could involve exploring circular economy principles, inclusive business models, or social franchising.
4. Market Expansion:
Preserve should focus on market expansion by targeting a wider consumer base through strategic marketing campaigns and partnerships. This can involve leveraging digital marketing and social media to reach a broader audience.
5. Product Diversification:
Preserve should consider product diversification to expand its product portfolio and appeal to a wider range of consumers. This could involve developing new product lines that address specific needs or market segments.
6. Continuous Improvement:
Preserve should continuously strive for improvement in its manufacturing processes, product design, and marketing strategies to enhance efficiency, reduce costs, and improve its overall sustainability performance.
5. Basis of Recommendations
1. Core Competencies and Consistency with Mission:
The recommended strategy aligns with Preserve's core competencies in social entrepreneurship and environmental sustainability while maintaining its commitment to its mission.
2. External Customers and Internal Clients:
The strategy focuses on expanding Preserve's reach to a wider consumer base while engaging with nonprofit organizations and impact investors to create value for all stakeholders.
3. Competitors:
The strategy positions Preserve to compete effectively with established brands by leveraging its unique value proposition and focusing on innovation and market expansion.
4. Attractiveness:
The strategy is attractive as it offers the potential for significant growth and profitability while maintaining Preserve's commitment to social impact.
6. Conclusion
By embracing a hybrid organizational model, building strategic alliances, and investing in innovation, Preserve can achieve both profitability and social impact. This strategy will position Preserve as a leader in the growing market for sustainable consumer goods and enable it to make a meaningful contribution to environmental sustainability and social progress.
7. Discussion
Alternatives:
- Focusing solely on social impact: This approach could limit Preserve's growth potential and make it difficult to achieve financial sustainability.
- Focusing solely on profitability: This approach could compromise Preserve's commitment to social impact and damage its brand reputation.
Risks:
- Competition from established brands: Preserve may face challenges competing with established brands that are increasingly incorporating sustainability into their product offerings.
- Economic fluctuations: Economic downturns could impact consumer spending on sustainable products, potentially affecting Preserve's sales.
- Regulatory changes: Changes in government regulations related to environmental sustainability could impact Preserve's operations.
Key Assumptions:
- The market for sustainable consumer goods will continue to grow.
- Consumers are willing to pay a premium for sustainable products.
- Preserve can successfully develop new sustainable business models.
8. Next Steps
Timeline:
- Year 1: Develop a comprehensive strategy for hybrid organizational model and strategic alliances.
- Year 2: Implement strategic alliances and begin developing new sustainable business models.
- Year 3: Launch new product lines and expand market reach through targeted marketing campaigns.
- Year 4: Evaluate the success of the strategy and adjust as needed.
Key Milestones:
- Secure funding from impact investors.
- Establish strategic partnerships with nonprofit organizations.
- Develop and launch new sustainable business models.
- Expand product portfolio and market reach.
By implementing these recommendations, Preserve can achieve its goals of sustainable growth and social impact, positioning itself as a leader in the emerging market for sustainable consumer goods.
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Case Description
This case presents the startup and growth of Preserve, a sustainability-driven business and B Corp, in the circular economy. The company has grown over the years as a housewares and personal care consumer goods company in the retail industry with a closed loop business model on #5 plastics. With this operational model, Preserve managed to create social and commercial value by attaining strategic growth while meeting its social mission. To serve dual purpose (social and commercial), Preserve helped its partners achieve sustainability goals, but these investments did not necessarily add to the financial bottom line and short-term growth of the company. The case focuses on the meaning of "growth" as the strategic intent for a sustainability-driven business. It explores to what extent a purpose-driven business like Preserve could meet the challenge of simultaneously being a social value leading business and keeping financial sustainability with the current business model. The case examines Preserve's founding mission and organizational values, and it discusses the tradeoff between social mission and economic goals any growth-driven sustainable company would face. It puts into perspective the importance of stakeholder collaboration and communication for sustainability and growth. The case introduces the framework of SEERS - Social, Environmental, Economic Responsibility and Sustainability - for evaluating Preserve's sustainability strategy. The SEERS framework contains four elements: (1) identifying purpose and strategic intent, (2) engaging stakeholders, (3) developing metrics, and (4) implementing cascading innovations. It provides opportunities for considering strategic decision-making with respect to economic and social value generation and social responsibility.
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