Harvard Case - Chimelong Ocean Kingdom: A Sustainable Competitive Advantage?
"Chimelong Ocean Kingdom: A Sustainable Competitive Advantage?" Harvard business case study is written by Arpita Agnihotri, Saurabh Bhattacharya. It deals with the challenges in the field of Strategy. The case study is 10 page(s) long and it was first published on : Jul 26, 2019
At Fern Fort University, we recommend that Chimelong Ocean Kingdom (COK) focus on building a sustainable competitive advantage through a multi-pronged strategy. This strategy should prioritize innovation, digital transformation, and environmental sustainability while leveraging its existing strengths in entertainment, technology, and brand management.
2. Background
Chimelong Ocean Kingdom, a world-class marine-themed park in Zhuhai, China, faces increasing competition from both domestic and international players. Despite its initial success, COK needs to adapt to evolving customer preferences, technological advancements, and the growing importance of sustainability. The case study highlights the need for a strategic shift to ensure long-term success and maintain its position as a leading entertainment destination.
The main protagonists of the case study are the leadership team at COK, who are tasked with developing a strategy to ensure the park's continued growth and profitability.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong Brand: COK enjoys a strong brand reputation in China and internationally.
- Unique Attractions: The park boasts unique marine life exhibits and thrilling rides.
- Technological Expertise: COK utilizes advanced technology for its exhibits and operations.
- Strong Financial Position: The park enjoys strong financial backing from Chimelong Group.
Weaknesses:
- Limited International Reach: COK's primary market is China, limiting its global appeal.
- Dependence on Marine Life: The park's reliance on marine life raises ethical concerns and potential risks.
- High Operational Costs: Maintaining the park's attractions and technology is expensive.
- Limited Diversification: COK's focus on marine-themed entertainment limits its potential for diversification.
Opportunities:
- Growing Chinese Tourism: China's rapidly expanding middle class presents a significant growth opportunity.
- Technological Advancements: Utilizing AI, VR, and AR can enhance the visitor experience.
- Sustainability Trend: Embracing sustainable practices can attract environmentally conscious tourists.
- International Expansion: Expanding into new markets can broaden COK's reach and revenue streams.
Threats:
- Increased Competition: New theme parks are emerging in China and internationally.
- Economic Slowdown: A slowdown in the Chinese economy could impact tourism spending.
- Changing Consumer Preferences: Evolving tastes and preferences may require COK to adapt its offerings.
- Environmental Regulations: Stricter regulations on marine animal welfare could impact operations.
Porter's Five Forces:
- Threat of New Entrants: High due to the increasing popularity of theme parks and ease of entry.
- Bargaining Power of Buyers: Moderate, as tourists have multiple options but value unique experiences.
- Threat of Substitutes: Moderate, as other entertainment options exist, but COK offers a unique experience.
- Bargaining Power of Suppliers: Moderate, as COK depends on marine life suppliers and technology providers.
- Rivalry Among Existing Competitors: High, with numerous domestic and international players vying for market share.
Value Chain Analysis:
COK's value chain consists of:
- Inbound Logistics: Sourcing marine life, construction materials, and technology.
- Operations: Maintaining exhibits, rides, and park infrastructure.
- Outbound Logistics: Managing visitor flow and transportation.
- Marketing and Sales: Promoting the park through various channels.
- Customer Service: Providing a positive and memorable experience for visitors.
- Technology: Utilizing advanced technology to enhance visitor experience and park operations.
- Sustainability: Implementing environmentally friendly practices and promoting conservation.
Business Model Innovation:
COK can explore business model innovation by:
- Diversifying Revenue Streams: Offering additional services like hotels, restaurants, and retail.
- Developing Digital Products: Creating mobile apps, virtual reality experiences, and online games.
- Partnering with Other Businesses: Collaborating with travel agencies, airlines, and other tourism operators.
- Adopting a Subscription Model: Offering annual passes and membership programs.
- Leveraging Data Analytics: Using data to personalize visitor experiences and optimize marketing campaigns.
4. Recommendations
COK should implement the following strategies to achieve sustainable competitive advantage:
1. Focus on Innovation:
- Embrace Technology: Invest in AI, VR, and AR technologies to enhance visitor experiences and create immersive attractions.
- Develop New Attractions: Continuously introduce new and innovative exhibits and rides to keep visitors engaged.
- Leverage Data Analytics: Utilize data to personalize visitor experiences, tailor marketing campaigns, and optimize park operations.
2. Prioritize Environmental Sustainability:
- Adopt Sustainable Practices: Implement eco-friendly initiatives like energy efficiency, waste reduction, and water conservation.
- Promote Conservation: Educate visitors about marine life conservation and support research and conservation efforts.
- Partner with Environmental Organizations: Collaborate with NGOs to raise awareness and promote sustainable tourism.
3. Expand International Reach:
- Target Emerging Markets: Explore opportunities in other Asian countries with growing tourism industries.
- Develop International Marketing Campaigns: Tailor marketing efforts to different cultural contexts and languages.
- Partner with International Tourism Operators: Collaborate with travel agencies and airlines to attract international visitors.
4. Enhance Digital Transformation:
- Develop a Robust Online Presence: Create a user-friendly website and mobile app with online ticketing, booking, and information.
- Utilize Social Media: Engage with visitors online, share content, and build a strong social media community.
- Implement Digital Marketing Strategies: Utilize targeted advertising, search engine optimization, and influencer marketing.
5. Strengthen Corporate Governance:
- Establish Clear Ethical Guidelines: Develop and implement a code of conduct that prioritizes ethical treatment of marine life and environmental responsibility.
- Promote Transparency: Share information about park operations, sustainability initiatives, and financial performance.
- Engage with Stakeholders: Actively listen to feedback from visitors, employees, and local communities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with COK's core competencies in entertainment, technology, and brand management, while reinforcing its mission of providing a world-class entertainment experience.
- External Customers and Internal Clients: The recommendations prioritize customer satisfaction, employee engagement, and community relations.
- Competitors: The recommendations address the competitive landscape by emphasizing innovation, sustainability, and digital transformation.
- Attractiveness: The recommendations are expected to enhance COK's profitability by attracting new visitors, increasing revenue streams, and optimizing operations.
The assumptions underlying these recommendations include:
- Continued growth in Chinese tourism and global demand for unique entertainment experiences.
- The availability of advanced technology and skilled personnel to implement digital transformation strategies.
- The willingness of COK to invest in sustainability initiatives and embrace ethical practices.
6. Conclusion
By implementing these recommendations, Chimelong Ocean Kingdom can establish a sustainable competitive advantage, ensuring its continued success in the evolving theme park industry. The focus on innovation, environmental sustainability, and digital transformation will attract new visitors, enhance brand reputation, and position COK as a leader in responsible tourism.
7. Discussion
Other alternatives not selected include:
- Mergers and Acquisitions: Acquiring or merging with other theme parks or entertainment companies.
- Vertical Integration: Expanding into related businesses like hotel management or transportation.
- Cost Leadership: Focusing on cost reduction and price competitiveness.
The risks associated with the recommended strategy include:
- High Investment Costs: Implementing innovative technologies and sustainability initiatives requires significant investment.
- Technological Disruption: Rapid technological advancements could render current investments obsolete.
- Regulatory Changes: Shifting regulations related to marine animal welfare or environmental protection could impact operations.
Key assumptions include:
- Continued economic growth in China and global demand for theme park experiences.
- The success of innovation and digital transformation initiatives in attracting new visitors.
- The effectiveness of sustainability initiatives in enhancing brand reputation and attracting environmentally conscious tourists.
8. Next Steps
COK should implement the following steps to realize its strategic goals:
- Develop a Detailed Implementation Plan: Outline specific actions, timelines, and responsible parties.
- Secure Funding: Allocate resources for innovation, sustainability, and digital transformation initiatives.
- Build Partnerships: Collaborate with technology providers, environmental organizations, and tourism operators.
- Monitor Progress: Regularly assess the effectiveness of implemented strategies and adjust as needed.
By taking these steps, Chimelong Ocean Kingdom can transform itself into a sustainable and innovative entertainment destination, securing its long-term success and creating value for all stakeholders.
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Case Description
The case discusses the rapid success and competitive challenges of Guangzhou Chimelong Group Co. Ltd.'s (Chimelong's) marine-based recreational theme park, Chimelong Ocean Kingdom. The theme park was one of the biggest in China and had won several awards for its size and programs, but Western players such as the Walt Disney Company were expanding into China, and several smaller marine-based theme park players were entering the market, posing the threat of imitation to Ocean Kingdom. How should the theme park compete against leading multinationals and burgeoning Chinese domestic players? Could Ocean Kingdom sustain its competitive advantage against these players?
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