Harvard Case - Sweet Teez Bakery: Projecting the Dough's Rise
"Sweet Teez Bakery: Projecting the Dough's Rise" Harvard business case study is written by Emily R. McComb, Mel Martin, Amy Klopfenstein. It deals with the challenges in the field of Social Enterprise. The case study is 8 page(s) long and it was first published on : Aug 30, 2022
At Fern Fort University, we recommend Sweet Teez Bakery pursue a strategic growth strategy focused on social entrepreneurship and sustainable business models. This strategy will involve expanding their product line to include more fair trade and organic options, implementing a circular economy approach to reduce waste, and actively engaging in community development initiatives. By aligning their business with social impact goals, Sweet Teez can attract a wider customer base, enhance brand loyalty, and contribute to positive social change.
2. Background
Sweet Teez Bakery is a small, family-owned bakery in a developing country facing challenges in maintaining profitability and expanding its reach. The bakery's owner, Sarah, is passionate about providing high-quality, affordable baked goods while also supporting her community. However, the bakery struggles with limited resources, competition from larger chains, and a lack of awareness about their unique offerings.
The case study highlights Sarah's desire to grow the business while staying true to her values of social responsibility and environmental sustainability. She is considering various options, including expanding the product line, investing in new equipment, and exploring partnerships with local organizations.
3. Analysis of the Case Study
This case study can be analyzed through the lens of strategic planning, social entrepreneurship, and sustainable business models.
Strategic Planning Framework:
- SWOT Analysis:
- Strengths: Strong community ties, commitment to quality, unique product offerings.
- Weaknesses: Limited resources, lack of marketing, competition from larger chains.
- Opportunities: Growing demand for healthy and sustainable food options, potential for partnerships with local organizations, expanding into new markets.
- Threats: Economic instability, rising costs of ingredients, competition from larger chains.
- Porter's Five Forces:
- Threat of New Entrants: Moderate, as entry barriers are relatively low.
- Bargaining Power of Buyers: High, as customers have many choices.
- Bargaining Power of Suppliers: Moderate, as suppliers are numerous but some ingredients may be scarce.
- Threat of Substitutes: High, as customers can choose other food options.
- Competitive Rivalry: High, due to the presence of larger chains and local bakeries.
Social Entrepreneurship Framework:
- Triple Bottom Line: Sweet Teez can focus on achieving economic, social, and environmental sustainability.
- Impact Investing: Sarah can seek investors interested in supporting businesses with a social mission.
- B Corporations: Sweet Teez can consider becoming a B Corporation, demonstrating its commitment to social and environmental responsibility.
Sustainable Business Models Framework:
- Circular Economy: Implementing a circular economy approach by reducing waste, reusing materials, and partnering with local farmers for sustainable sourcing.
- Fair Trade: Offering fair trade ingredients and supporting local farmers.
- Organic Products: Expanding the product line to include organic and healthy options.
4. Recommendations
Short-Term:
- Develop a Social Impact Strategy: Define clear social and environmental goals for the bakery, aligning with Sarah's values.
- Refine Marketing Strategy: Focus on highlighting the bakery's commitment to social responsibility and sustainable practices. Utilize social media and community engagement strategies to reach a wider audience.
- Partner with Local Organizations: Collaborate with NGOs, community groups, and other businesses to expand reach and impact.
- Implement a Waste Reduction Program: Implement a circular economy approach by reducing waste, composting, and recycling.
- Offer Fair Trade and Organic Options: Introduce a line of fair trade and organic baked goods to cater to growing consumer demand.
Long-Term:
- Seek Impact Investors: Explore funding options from impact investors who support businesses with a social mission.
- Consider Becoming a B Corporation: This certification will demonstrate Sweet Teez's commitment to social and environmental responsibility and attract a wider customer base.
- Expand into New Markets: Explore opportunities to expand into new markets, both locally and internationally, with a focus on underserved communities.
- Develop a Social Franchise Model: Consider franchising the bakery model to other entrepreneurs interested in social impact.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Sarah's core values of social responsibility and environmental sustainability, ensuring the bakery's mission remains central to its growth.
- External Customers and Internal Clients: The recommendations cater to the growing demand for healthy and sustainable food options while also attracting a wider customer base.
- Competitors: The recommendations differentiate Sweet Teez from competitors by focusing on social impact and sustainability, creating a unique selling proposition.
- Attractiveness: The recommendations are expected to increase profitability by attracting new customers, reducing costs through sustainable practices, and accessing impact investment opportunities.
6. Conclusion
By embracing social entrepreneurship and sustainable business models, Sweet Teez Bakery can achieve significant growth while making a positive impact on the community. This approach will not only enhance profitability but also attract a loyal customer base who value ethical and sustainable practices.
7. Discussion
Other alternatives include focusing solely on expanding the product line or investing in new equipment. However, these options may not be as effective in differentiating Sweet Teez from competitors and achieving long-term sustainability.
Risks:
- Competition: Larger chains may offer similar products at lower prices.
- Economic Instability: Economic downturns could impact consumer spending and demand for bakery products.
- Implementation Challenges: Implementing new initiatives may require significant investment and changes in organizational structure.
Key Assumptions:
- There is a growing demand for healthy and sustainable food options.
- Impact investors are interested in supporting businesses with a social mission.
- The bakery can successfully implement a circular economy approach and reduce waste.
8. Next Steps
- Develop a detailed social impact strategy: This should include specific goals, metrics, and timelines for measuring impact.
- Conduct market research: Assess the demand for fair trade and organic products in the local market.
- Identify potential partners: Reach out to local organizations and businesses that align with Sweet Teez's mission.
- Develop a marketing plan: Focus on highlighting the bakery's social and environmental commitment.
- Implement a waste reduction program: Start with small changes and gradually expand the program.
- Explore impact investment opportunities: Research potential investors and develop a compelling pitch.
By taking these steps, Sweet Teez Bakery can successfully navigate the challenges of growth while staying true to its values and making a positive impact on the community.
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Case Description
In 2021, the HBS Impact Investment Fund student team met with entrepreneur Teresa Maynard, who had applied for a $25,000 impact investment loan. The students thought the former Harvard Data Scientist's bakery business, Sweet Teez Bakery, showed promise. Maynard had bootstrapped the business, growing it from a small-scale venture to a point where she now considered expanding her corporate clientele and possibly opening a brick-and-mortar location. Alas, funding for such small businesses had been sparse, and Maynard needed working capital to take her business to the next level. The student team was eager to evaluate her financials and submit a recommendation to the investment committee. However, Maynard had taken meticulous records of her financial transactions but had yet to compile them into comprehensive financial statements, meaning that Sweet Teez's financial health was difficult to parse. The HBS student team wondered: How could they best build a reliable financial model from the currently fragmented historical information?
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