Harvard Case - Crisis at Binghamton Zoo
"Crisis at Binghamton Zoo" Harvard business case study is written by Arieh A Ullmann. It deals with the challenges in the field of Strategy. The case study is 14 page(s) long and it was first published on : Jan 15, 2010
At Fern Fort University, we recommend a multi-pronged strategy for the Binghamton Zoo to address its financial crisis and ensure its long-term sustainability. This strategy involves a combination of cost optimization, revenue generation, strategic partnerships, and organizational restructuring to enhance the zoo's competitive advantage and value proposition.
2. Background
The Binghamton Zoo, a beloved community institution, is facing a severe financial crisis due to declining attendance, rising operational costs, and insufficient funding. The zoo's leadership is grappling with the need to make difficult decisions to ensure its survival. The case highlights the challenges faced by non-profit organizations, particularly those reliant on public funding and visitor revenue. The key protagonists are the zoo's Executive Director, the Board of Directors, and the community stakeholders who value the zoo's presence.
3. Analysis of the Case Study
To analyze the Binghamton Zoo's situation, we utilize a combination of frameworks:
a) SWOT Analysis:
- Strengths: Strong community support, unique animal collection, potential for educational programs, existing infrastructure.
- Weaknesses: Declining attendance, financial instability, outdated facilities, limited marketing efforts, lack of strategic planning.
- Opportunities: Leveraging technology for immersive experiences, partnering with local businesses, expanding educational outreach, exploring new revenue streams (e.g., special events, corporate sponsorships).
- Threats: Competition from other attractions, economic downturn, changing visitor preferences, potential for negative publicity.
b) Porter's Five Forces:
- Threat of new entrants: Low, as establishing a zoo requires significant capital investment and expertise.
- Bargaining power of buyers: Moderate, as visitors have alternative entertainment options, but the zoo offers unique experiences.
- Bargaining power of suppliers: Low, as the zoo relies on a diverse range of suppliers.
- Threat of substitute products: High, as visitors can choose other forms of entertainment, including museums, parks, and online experiences.
- Rivalry among existing competitors: Moderate, as the zoo competes with other local attractions for visitors.
c) Value Chain Analysis:
- Inbound Logistics: Acquiring animals, food, and supplies.
- Operations: Animal care, habitat maintenance, visitor services.
- Outbound Logistics: Ticket sales, merchandise, visitor transportation.
- Marketing and Sales: Advertising, public relations, outreach programs.
- Service: Educational programs, visitor experiences, special events.
d) Business Model Innovation:
- Value Proposition: The zoo needs to redefine its value proposition to appeal to a broader audience, emphasizing educational and entertainment aspects.
- Customer Segments: The zoo should identify different customer segments (families, students, tourists) and tailor its offerings accordingly.
- Channels: The zoo should explore new channels to reach its target audience, including social media, digital marketing, and partnerships with local businesses.
- Customer Relationships: The zoo should build stronger relationships with its customers through personalized experiences, loyalty programs, and community engagement.
- Revenue Streams: The zoo should diversify its revenue streams beyond ticket sales, exploring options like corporate sponsorships, fundraising events, and merchandise sales.
4. Recommendations
1. Cost Optimization:
- Streamline Operations: Implement lean management principles to optimize operational efficiency, reduce waste, and improve resource utilization.
- Negotiate Supplier Contracts: Review existing contracts with suppliers and negotiate better pricing to reduce procurement costs.
- Energy Efficiency: Invest in energy-efficient technologies to reduce utility expenses.
- Staffing Optimization: Review staffing levels and implement a strategic workforce planning approach to ensure optimal staffing levels.
2. Revenue Generation:
- Enhance Visitor Experience: Invest in innovative exhibits, interactive displays, and educational programs to attract more visitors.
- Develop New Revenue Streams: Explore opportunities for corporate sponsorships, fundraising events, and merchandise sales.
- Leverage Technology: Utilize technology to create immersive experiences, enhance visitor engagement, and offer online ticketing and merchandise sales.
- Market Segmentation: Target different customer segments (families, students, tourists) with tailored marketing campaigns and offerings.
3. Strategic Partnerships:
- Community Engagement: Build stronger relationships with local businesses, schools, and community organizations to promote the zoo and generate revenue.
- Strategic Alliances: Collaborate with other attractions and institutions to offer joint packages and cross-promotion opportunities.
- Government Partnerships: Seek funding and support from local, state, and federal agencies.
4. Organizational Restructuring:
- Strategic Planning: Develop a comprehensive strategic plan outlining the zoo's vision, mission, goals, and objectives.
- Leadership Development: Invest in leadership development programs to equip the zoo's management team with the skills necessary to navigate the challenges ahead.
- Organizational Culture: Foster a culture of innovation, collaboration, and customer-centricity.
- Marketing and Communications: Strengthen the zoo's marketing and communications efforts to reach a wider audience and enhance brand awareness.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the zoo's situation, considering:
- Core competencies and consistency with mission: The recommendations focus on enhancing the zoo's core competencies in animal care, education, and visitor experience, aligning with its mission of conservation and education.
- External customers and internal clients: The recommendations consider the needs of different customer segments, including families, students, and tourists, as well as the needs of the zoo's staff and volunteers.
- Competitors: The recommendations address the competitive landscape by emphasizing innovation, differentiation, and strategic partnerships.
- Attractiveness ' quantitative measures: The recommendations are expected to improve the zoo's financial performance by increasing attendance, generating new revenue streams, and optimizing costs.
6. Conclusion
The Binghamton Zoo faces significant challenges, but with a strategic approach focused on cost optimization, revenue generation, strategic partnerships, and organizational restructuring, it can overcome these challenges and ensure its long-term sustainability. By embracing innovation, enhancing its value proposition, and building strong community relationships, the zoo can create a vibrant and financially secure future.
7. Discussion
Alternatives not selected:
- Closure: While closure is a drastic option, it would result in the loss of a valuable community asset and the displacement of animals.
- Selling the zoo: Selling the zoo to a private entity could lead to changes in its mission and operations, potentially jeopardizing its educational and conservation goals.
Risks and key assumptions:
- Economic downturn: A significant economic downturn could negatively impact attendance and revenue.
- Changing visitor preferences: Visitor preferences are constantly evolving, and the zoo needs to adapt its offerings to remain relevant.
- Competition: The zoo faces competition from other attractions, and it needs to differentiate itself to attract visitors.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Cost Optimization | Improved financial performance | Potential for staff reductions |
| Revenue Generation | Increased revenue | Requires significant investment |
| Strategic Partnerships | Access to resources and expertise | Potential for conflicts of interest |
| Organizational Restructuring | Improved efficiency and effectiveness | Requires significant change management |
8. Next Steps
- Develop a strategic plan: The zoo's leadership should develop a comprehensive strategic plan outlining the zoo's vision, mission, goals, and objectives.
- Implement cost optimization measures: The zoo should implement cost optimization measures to reduce expenses and improve financial performance.
- Launch new revenue generation initiatives: The zoo should launch new revenue generation initiatives, such as corporate sponsorships, fundraising events, and merchandise sales.
- Build strategic partnerships: The zoo should build strategic partnerships with local businesses, schools, and community organizations.
- Restructure the organization: The zoo should restructure the organization to enhance efficiency, effectiveness, and innovation.
Timeline:
- Year 1: Implement cost optimization measures, launch new revenue generation initiatives, and build strategic partnerships.
- Year 2: Restructure the organization, develop a strategic plan, and invest in marketing and communications.
- Year 3: Evaluate the effectiveness of the implemented strategies and make adjustments as needed.
By taking these steps, the Binghamton Zoo can overcome its financial challenges, enhance its competitive advantage, and ensure its long-term sustainability as a valuable community asset.
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Case Description
This case describes the crisis of a small deteriorating zoo located in a small community in an economically depressed region. The key decision point is defined at the beginning as the newly hired zoo director is preparing a turnaround plan. The students need to come up with a vision, a strategy and a concrete plan taking into consideration of the park's limited resources and the environment within which it operates. The case outlines the history of the fifth oldest zoo in the U.S. and its gradual deterioration in parallel with the local and regional economy. In the three years prior to the appointment of the new director, the decline had accelerated, mainly due to weak management and turmoil at the top. The facility had lost its accreditation by the Association of Zoos and Aquariums, and permanent closure was a realistic possibility although the board was resolved to keep the park afloat. Many shortcomings listed in the case had caused the zoo to lose its accredited status and they needed to be addressed as part of a turnaround plan towards reaccreditation. Also, the public needed to be assured of the zoo's viability. The start of the new season was only a few months away and the new zoo director had to sort through a multitude of problems and decide what to do, to develop a budget for the upcoming season and present a convincing strategy to the board. Most critical was to increase funding, yet the city and the county were unlikely sources given the poor state of the local economy.
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