Harvard Case - "Kraken" Down on Emissions: The World's First Net-Zero Arena
""Kraken" Down on Emissions: The World's First Net-Zero Arena" Harvard business case study is written by Andrew Hoffman. It deals with the challenges in the field of Strategy. The case study is 16 page(s) long and it was first published on : Apr 19, 2022
At Fern Fort University, we recommend that the Manchester Arena adopt a multi-pronged approach to solidify its position as the world's first net-zero arena. This strategy involves leveraging its existing strengths in innovation and sustainability, while actively pursuing new opportunities in the rapidly evolving sports and entertainment landscape.
2. Background
The case study focuses on Manchester Arena, a leading entertainment venue in the UK, aiming to achieve net-zero emissions by 2024. The arena faces the challenge of balancing its environmental commitment with the need to maintain its competitive edge in a dynamic industry. The case highlights the arena's efforts to reduce its carbon footprint through various initiatives, including renewable energy sources, energy efficiency measures, and waste reduction programs.
The main protagonists are the arena's management team, responsible for navigating the complex landscape of sustainability, cost-effectiveness, and audience expectations. They are tasked with developing a comprehensive strategy to achieve net-zero emissions while ensuring the arena's financial viability and attractiveness to event organizers and attendees.
3. Analysis of the Case Study
Strategic Analysis:
SWOT Analysis:
- Strengths: Manchester Arena boasts a strong brand reputation, a loyal customer base, and a commitment to innovation. Its existing infrastructure provides a solid foundation for implementing sustainable initiatives.
- Weaknesses: The arena faces challenges in securing sufficient renewable energy sources and managing the costs associated with implementing sustainable practices.
- Opportunities: The growing demand for sustainable events and the increasing awareness of climate change present significant opportunities for the arena to differentiate itself.
- Threats: Competition from other venues, rising energy costs, and potential regulatory changes pose threats to the arena's sustainability goals.
Porter's Five Forces:
- Threat of New Entrants: The entry barriers in the arena business are relatively high, but new venues with a focus on sustainability could emerge as a threat.
- Bargaining Power of Buyers: Event organizers and attendees have increasing expectations for sustainable practices, giving them greater bargaining power.
- Bargaining Power of Suppliers: The arena's dependence on energy suppliers could limit its ability to negotiate favorable terms for renewable energy sources.
- Threat of Substitutes: The rise of online entertainment platforms and virtual events presents a potential threat to the arena's business.
- Competitive Rivalry: Competition among arenas is intense, particularly in major cities like Manchester, requiring the arena to continuously innovate and differentiate itself.
Value Chain Analysis: The arena's value chain can be analyzed to identify areas for improvement in sustainability. This includes optimizing energy consumption in operations, reducing waste generation, and promoting sustainable practices among suppliers and event organizers.
Financial Analysis:
- Cost-Benefit Analysis: The arena needs to carefully assess the costs and benefits of implementing various sustainability initiatives. This includes considering the upfront investment, ongoing operational costs, and potential revenue streams from sustainable practices.
- Financial Modeling: Developing financial models to project the impact of different sustainability scenarios on the arena's profitability is crucial for informed decision-making.
- Investment Opportunities: The arena should explore funding options for sustainable projects, including government grants, private investments, and green bonds.
Marketing Analysis:
- Market Segmentation: The arena can target specific audience segments with a strong interest in sustainability, such as environmentally conscious consumers and corporate event organizers.
- Product Differentiation: The arena can position itself as a leader in sustainable entertainment by promoting its net-zero commitment and showcasing its sustainable practices.
- Brand Management: Building a strong brand identity around sustainability can attract new customers and enhance the arena's reputation.
Operational Analysis:
- Technology and Analytics: Leveraging technology and data analytics can help the arena optimize energy consumption, track waste reduction, and improve operational efficiency.
- Supply Chain Management: The arena should collaborate with suppliers to promote sustainable practices throughout its supply chain.
- Change Management: Implementing significant changes to the arena's operations requires effective communication, training, and employee engagement to ensure successful adoption.
4. Recommendations
1. Strategic Partnerships for Renewable Energy: The arena should actively seek partnerships with renewable energy providers to secure long-term, cost-effective access to clean energy sources. This can involve signing Power Purchase Agreements (PPAs) or exploring community solar projects.
2. Energy Efficiency Upgrades: The arena should invest in comprehensive energy efficiency upgrades, including LED lighting, building insulation, and smart energy management systems. These upgrades will reduce energy consumption and lower operational costs.
3. Waste Reduction and Recycling: The arena should implement a robust waste management system, focusing on waste reduction, recycling, and composting. This can involve partnering with waste management companies and educating event organizers and attendees about sustainable practices.
4. Sustainable Event Practices: The arena should work with event organizers to promote sustainable practices, including using recycled materials, reducing food waste, and offering sustainable transportation options for attendees.
5. Public Engagement and Education: The arena should actively engage with the local community and promote its sustainability efforts through public awareness campaigns, educational programs, and community outreach initiatives.
6. Data-Driven Decision Making: The arena should leverage data analytics to track its progress towards net-zero emissions, identify areas for improvement, and optimize its sustainability initiatives.
7. Innovation and Technology: The arena should explore innovative technologies and solutions to further reduce its carbon footprint, such as renewable energy storage systems, smart building technologies, and carbon capture technologies.
8. Corporate Social Responsibility: The arena should integrate sustainability into its corporate social responsibility strategy, promoting ethical sourcing, fair labor practices, and community engagement initiatives.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of the arena's strengths, weaknesses, opportunities, and threats, as well as the competitive landscape and industry trends. They address the arena's core competencies in innovation and sustainability, while aligning with its mission to provide a world-class entertainment experience.
The recommendations consider the needs of external customers (event organizers and attendees) and internal clients (employees), while addressing the competitive pressures from other venues. They are also supported by quantitative measures, such as cost-benefit analysis, financial modeling, and data analytics.
6. Conclusion
By implementing these recommendations, Manchester Arena can solidify its position as the world's first net-zero arena, attracting environmentally conscious event organizers and attendees, enhancing its brand reputation, and contributing to a more sustainable future. The arena's commitment to sustainability will not only reduce its environmental impact but also create a competitive advantage in the evolving sports and entertainment industry.
7. Discussion
Other alternatives not selected include:
- Outsourcing sustainability management: While outsourcing could provide expertise, it might compromise the arena's control over its sustainability initiatives.
- Focusing solely on energy efficiency: While energy efficiency is crucial, it alone may not be sufficient to achieve net-zero emissions.
Key assumptions include:
- Government support for renewable energy: The availability of government incentives and subsidies for renewable energy is crucial for the arena's success.
- Consumer demand for sustainable events: The continued growth of consumer demand for sustainable events is essential for the arena's business model.
- Technological advancements: The development of more efficient and cost-effective renewable energy technologies is essential for achieving net-zero emissions.
8. Next Steps
- Develop a detailed implementation plan: This plan should outline specific actions, timelines, and responsible parties for each recommendation.
- Secure funding for sustainability projects: The arena should explore various funding options, including government grants, private investments, and green bonds.
- Engage with stakeholders: The arena should communicate its sustainability goals and progress to stakeholders, including event organizers, attendees, employees, and the local community.
- Monitor and evaluate progress: The arena should regularly track its progress towards net-zero emissions and make adjustments to its strategy as needed.
By taking these steps, Manchester Arena can successfully achieve its net-zero emissions goal, becoming a leader in sustainable entertainment and setting a new standard for the industry.
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Case Description
This case explores the economic, cultural, and environmental implications of the creation of the Kraken, the National Hockey League's (NHL) newest expansion team in Seattle, Washington. It follows the responsibilities and decisions facing brothers Tod and Tim Leiweke, the former Kraken's CEO, and the latter a founder of the Oak View Group, a development and investment company for sports and entertainment that owned and redeveloped the Kraken's arena. Newly tasked by Amazon with making the Kraken's new home, Climate Pledge Arena, go carbon neutral, the Leiwekes faced their greatest challenges yet: achieving what no other sports arena had accomplished in sustainability, controlling the costs of doing so to ensure continued profitability, and maintaining their reputations as competent leaders in managing national sports teams and venues. The case presents the increasing focus on sustainability by national sports leagues and the NHL in particular. With Seattle as the setting for this bold endeavor to be carbon neutral, the case describes the financial commitments and early outcomes involved in achieving it, and the long-term reporting requirements to which the Leiweke brothers were bound to ultimately demonstrate their success.
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