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Publish Date: 2024-11-03

Harvard Case - DALIAN WANDA GROUP: WHEN OFFLINE MEETS ONLINE (ABRIDGED)

"DALIAN WANDA GROUP: WHEN OFFLINE MEETS ONLINE (ABRIDGED)" Harvard business case study is written by Howard H. Yu, Shih-Han Huang, Antonio Patricio, Vasily Koshelev. It deals with the challenges in the field of Strategy. The case study is 15 page(s) long and it was first published on : Oct 4, 2018

At Fern Fort University, we recommend that Dalian Wanda Group (DWG) prioritize a digital transformation strategy focused on integrating online and offline experiences across its diverse business portfolio. This strategy should leverage technology and analytics to enhance customer engagement, optimize operations, and drive sustainable growth.

2. Background

Dalian Wanda Group (DWG), a Chinese conglomerate, has experienced remarkable growth through its offline businesses, primarily in real estate, entertainment, and tourism. However, the rise of e-commerce and digital platforms has presented both opportunities and challenges for DWG. The case study highlights DWG's efforts to navigate this evolving landscape by venturing into online businesses and exploring the potential of integrating online and offline experiences.

The main protagonists of the case study are Wang Jianlin, the founder and chairman of DWG, and his team, who are tasked with developing a strategic roadmap for DWG's digital transformation.

3. Analysis of the Case Study

SWOT Analysis:

  • Strengths: DWG possesses strong brand recognition, a vast offline network, and a proven track record of successful acquisitions.
  • Weaknesses: DWG lacks significant online expertise and faces competition from established digital players.
  • Opportunities: The Chinese market presents significant growth potential for online businesses, and DWG can leverage its offline assets to create unique online-offline experiences.
  • Threats: The rapid evolution of technology and the emergence of new competitors pose a constant threat to DWG's market position.

Porter's Five Forces Analysis:

  • Threat of New Entrants: High, due to the ease of entry into the online market and the availability of technology.
  • Bargaining Power of Buyers: High, as consumers have a wide range of choices and access to information online.
  • Bargaining Power of Suppliers: Moderate, as DWG relies on various suppliers for its operations, but its size provides some leverage.
  • Threat of Substitutes: High, as online services and platforms can easily replace traditional offline offerings.
  • Competitive Rivalry: Intense, as DWG faces competition from both established online players and traditional offline businesses seeking to adapt to the digital landscape.

Value Chain Analysis:

DWG's value chain can be analyzed by examining its primary and support activities. The integration of online and offline experiences requires DWG to optimize its value chain by:

  • Incorporating digital technologies: Improving efficiency in manufacturing processes, supply chain management, and marketing.
  • Leveraging data analytics: Understanding customer preferences and behaviors to personalize experiences and enhance product development.
  • Creating seamless online-offline journeys: Connecting online platforms with physical locations to offer integrated services and experiences.

Business Model Innovation:

DWG needs to explore business model innovation to capitalize on the opportunities presented by the digital landscape. This could involve:

  • Developing new revenue streams: Offering online services, subscriptions, and digital products.
  • Creating new customer segments: Targeting younger, digitally savvy consumers.
  • Leveraging partnerships: Collaborating with technology companies and online platforms to enhance its digital capabilities.

Corporate Governance:

DWG needs to ensure strong corporate governance to manage the challenges associated with digital transformation. This includes:

  • Developing a clear digital strategy: Defining goals, objectives, and key performance indicators (KPIs).
  • Investing in talent and expertise: Building a team with the necessary skills and experience in digital technologies.
  • Establishing robust data security and privacy protocols: Protecting customer data and ensuring compliance with regulations.

4. Recommendations

1. Develop a Digital Transformation Strategy:

  • Strategic Intent: DWG should aim to become a leading player in the online-offline integrated experience space.
  • Strategic Positioning: DWG should leverage its existing offline assets and brand recognition to create unique online-offline experiences.
  • Strategic Alliances: DWG should forge strategic alliances with technology companies and online platforms to enhance its digital capabilities.
  • Digital Transformation Roadmap: DWG should develop a comprehensive roadmap outlining the key steps, timelines, and resources required for digital transformation.

2. Enhance Customer Engagement:

  • Personalized Experiences: Leverage data analytics to personalize online and offline experiences for customers.
  • Seamless Integration: Create a seamless online-offline journey for customers across all touchpoints.
  • Loyalty Programs: Develop online and offline loyalty programs to reward and retain customers.
  • Social Media Engagement: Utilize social media platforms to build brand awareness and engage with customers.

3. Optimize Operations:

  • Digitalize Operations: Implement digital technologies to streamline processes, improve efficiency, and reduce costs.
  • Supply Chain Optimization: Utilize data analytics to optimize supply chains and improve inventory management.
  • Data-Driven Decision Making: Utilize data analytics to support decision-making across all business functions.
  • AI and Machine Learning: Explore the use of AI and machine learning to automate tasks, improve customer service, and enhance product development.

4. Foster Innovation:

  • Innovation Labs: Establish innovation labs to experiment with new technologies and develop innovative products and services.
  • Start-up Acquisitions: Consider acquiring promising start-ups with expertise in online technologies and customer engagement.
  • Open Innovation: Collaborate with external partners, including universities and research institutions, to foster innovation.

5. Strengthen Corporate Governance:

  • Digital Governance Framework: Develop a robust digital governance framework to manage data security, privacy, and compliance.
  • Digital Talent Acquisition: Invest in attracting and retaining skilled digital talent.
  • Digital Literacy Training: Provide training to employees on digital tools, technologies, and strategies.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  • Core competencies and consistency with mission: DWG's core competencies in real estate, entertainment, and tourism can be leveraged to create unique online-offline experiences, aligning with its mission of providing high-quality experiences for its customers.
  • External customers and internal clients: The recommendations focus on enhancing customer engagement, optimizing operations, and fostering innovation to meet the needs of both external customers and internal clients.
  • Competitors: The recommendations address the competitive landscape by emphasizing innovation, digitalization, and customer-centricity to differentiate DWG from its competitors.
  • Attractiveness: The recommendations are expected to drive growth in revenue, profitability, and market share, making DWG a more attractive investment for stakeholders.

6. Conclusion

DWG's digital transformation presents a significant opportunity to capitalize on the growing online market and create a sustainable competitive advantage. By integrating online and offline experiences, leveraging technology and analytics, and fostering innovation, DWG can become a leader in the evolving digital landscape.

7. Discussion

Alternatives:

  • Focusing solely on offline businesses: This approach would limit DWG's growth potential in the rapidly evolving digital market.
  • Acquiring a large online platform: This approach could be expensive and risky, and DWG may not have the necessary expertise to integrate the acquired platform effectively.

Risks:

  • Technological disruption: The rapid evolution of technology could render DWG's investments obsolete.
  • Cybersecurity threats: DWG needs to mitigate cybersecurity risks to protect customer data and maintain trust.
  • Competition from established online players: DWG needs to differentiate itself from established online players to gain market share.

Key Assumptions:

  • Continued growth of the online market: The recommendations assume continued growth in the online market and consumer adoption of digital technologies.
  • Availability of skilled digital talent: The recommendations assume that DWG can attract and retain skilled digital talent.
  • Government support for digital innovation: The recommendations assume that the Chinese government will continue to support digital innovation and provide a favorable regulatory environment.

8. Next Steps

  • Develop a detailed digital transformation roadmap: This roadmap should outline the key steps, timelines, and resources required for implementation.
  • Form strategic alliances with technology companies and online platforms: These alliances will enhance DWG's digital capabilities and accelerate its transformation.
  • Invest in digital talent acquisition and development: DWG needs to build a team with the necessary skills and experience to execute its digital strategy.
  • Pilot test new online and offline integrated experiences: DWG should conduct pilot tests to validate its digital transformation strategy and identify areas for improvement.
  • Monitor progress and make adjustments as needed: DWG should continuously monitor its progress and make adjustments to its digital strategy based on market trends, customer feedback, and competitive landscape.

By taking these steps, DWG can successfully navigate the digital landscape, unlock new growth opportunities, and create a sustainable competitive advantage.

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Case Description

Chinese conglomerate Wanda Group, headquartered in Beijing, is the country's largest commercial property developer and the world's largest movie theatre operator. One of its core businesses is the Wanda Plazas - large complexes encompassing shopping malls, cinemas, hotels and offices. Wanda's competitive advantages include a strong culture of execution and a proprietary technology backbone that supports and automates decision making processes. With the growth of ecommerce giants such as Alibaba and JD.com, traditional retail was coming under threat. Wanda, with its background in offline retail, saw the online-to-offline space as an opportunity. But, how best to execute? This case study follows Qu Dejun, president of Wanda's newly formed Internet Technology Group, as he and his team explored ways to leverage Wanda's traditional strengths to bring an online-to-offline strategy to fruition.

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