Harvard Case - Mejzlík Modellbau: Seeking Directions to Fly High
"Mejzlík Modellbau: Seeking Directions to Fly High" Harvard business case study is written by Mohit Srivastava, Ladislav Tyll. It deals with the challenges in the field of Strategy. The case study is 9 page(s) long and it was first published on : Dec 20, 2018
At Fern Fort University, we recommend Mejzl'k Modellbau pursue a multi-pronged growth strategy focused on product diversification, strategic alliances, and digital transformation. This strategy will leverage their existing core competencies in design, manufacturing, and customer service to enter new markets and expand their reach.
2. Background
Mejzl'k Modellbau is a Czech company specializing in the design and manufacture of high-performance electric motors for model aircraft. Founded in 2001 by Petr Mejzl'k, the company has achieved significant success in the niche market of model aircraft enthusiasts. However, facing increasing competition and a desire for growth, Mejzl'k seeks to expand its operations and secure its future.
The key protagonist is Petr Mejzl'k, the founder and owner, who is passionate about model aircraft and driven to grow the company. He faces the challenge of balancing his entrepreneurial spirit with the need for strategic planning and investment to ensure sustainable growth.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths:
- Strong brand reputation for high-quality products
- Experienced and dedicated team with deep technical expertise
- Strong customer relationships and loyal customer base
- Unique product offering catering to a niche market
- Weaknesses:
- Limited product portfolio and dependence on a single product category
- Lack of formal marketing and sales strategies
- Limited international presence and reliance on a single distribution channel
- Potential for increased competition from larger players
- Opportunities:
- Growing demand for model aircraft and electric motors globally
- Potential for product diversification into related markets (e.g., drones, robotics)
- Development of new technologies and materials (e.g., 3D printing, AI)
- Expansion into emerging markets with high growth potential
- Threats:
- Increasing competition from both established and emerging players
- Economic fluctuations and potential decline in consumer spending
- Technological advancements and disruptive innovations
- Regulatory changes in the model aircraft industry
Porter's Five Forces Analysis:
- Threat of new entrants: Moderate, due to the specialized nature of the market and the need for technical expertise.
- Bargaining power of buyers: Moderate, as customers have a range of options but value high-quality products.
- Bargaining power of suppliers: Moderate, as Mejzl'k relies on a limited number of suppliers for key components.
- Threat of substitutes: Moderate, as alternative propulsion systems for model aircraft exist.
- Competitive rivalry: High, due to the presence of both established and emerging competitors.
Value Chain Analysis:
Mejzl'k's value chain can be broken down into the following primary activities:
- Research & Development: Design and development of high-performance electric motors.
- Manufacturing: Production of motors using specialized equipment and materials.
- Marketing & Sales: Promotion and distribution of products through online channels and distributors.
- Customer Service: Providing technical support and after-sales service to customers.
Business Model Innovation:
Mejzl'k can explore business model innovation by:
- Direct-to-consumer sales: Establishing an online store to sell products directly to customers, bypassing intermediaries.
- Subscription services: Offering subscription-based access to technical support, software updates, or exclusive product releases.
- Value-added services: Providing additional services such as motor tuning, repair, and customization.
Corporate Governance:
Mejzl'k can improve its corporate governance by:
- Formalizing management structures: Implementing clear roles and responsibilities within the organization.
- Developing strategic planning processes: Establishing a structured approach to setting goals, developing strategies, and monitoring progress.
- Improving financial transparency: Implementing robust accounting and reporting practices.
4. Recommendations
1. Product Diversification:
- Expand product portfolio: Develop new motor designs for different model aircraft types (e.g., helicopters, drones, gliders).
- Enter new markets: Explore opportunities in related markets such as robotics, electric vehicles, and industrial automation.
- Develop innovative products: Invest in research and development to create products with unique features and functionalities.
2. Strategic Alliances:
- Partner with distributors: Establish partnerships with distributors in key international markets to expand reach.
- Collaborate with technology companies: Explore joint ventures or strategic alliances with companies developing advanced technologies (e.g., AI, 3D printing).
- Engage in industry associations: Participate in industry events and networking opportunities to build relationships with potential partners.
3. Digital Transformation:
- Enhance online presence: Develop a user-friendly website and online store to improve customer experience.
- Leverage social media: Utilize social media platforms to engage with customers, build brand awareness, and promote products.
- Implement e-commerce solutions: Integrate online payment and order management systems to streamline sales processes.
- Adopt data analytics: Utilize data analytics to understand customer behavior, optimize marketing campaigns, and improve product development.
5. Basis of Recommendations
- Core competencies and consistency with mission: The recommendations leverage Mejzl'k's existing strengths in design, manufacturing, and customer service to expand into new markets and product categories.
- External customers and internal clients: The recommendations focus on improving customer experience, expanding product offerings, and enhancing communication channels.
- Competitors: The recommendations aim to differentiate Mejzl'k from competitors by offering a wider range of products, leveraging digital technologies, and building strategic partnerships.
- Attractiveness: The recommendations are expected to generate significant growth in revenue, market share, and profitability.
6. Conclusion
By implementing these recommendations, Mejzl'k Modellbau can achieve sustainable growth, expand its market reach, and secure its future in the competitive world of model aircraft and related industries.
7. Discussion
Alternatives:
- Focus solely on existing market: This option would limit growth potential and expose Mejzl'k to increased competition.
- Mergers and acquisitions: While potentially attractive, this option carries significant risks and requires careful consideration of financial resources, integration challenges, and cultural differences.
- Outsourcing manufacturing: This option could reduce costs but could also compromise quality control and brand reputation.
Risks:
- Competition: The market is becoming increasingly competitive, and Mejzl'k needs to differentiate itself to maintain its market position.
- Technological advancements: Rapid technological changes could disrupt the industry, requiring Mejzl'k to stay ahead of the curve.
- Financial resources: Implementing the recommendations will require significant financial investment, which Mejzl'k needs to secure.
Key assumptions:
- The global market for model aircraft and related industries will continue to grow.
- Mejzl'k can successfully develop and launch new products.
- Strategic alliances will be mutually beneficial and contribute to growth.
- Mejzl'k can successfully navigate the challenges of digital transformation.
8. Next Steps
- Develop a detailed strategic plan: Define specific goals, timelines, and resource requirements for each recommendation.
- Secure funding: Explore financing options to support the implementation of the strategy.
- Build a strong team: Recruit and develop talent with expertise in marketing, sales, technology, and finance.
- Monitor progress and adapt: Regularly track progress against key performance indicators and make adjustments as needed.
By taking these steps, Mejzl'k Modellbau can position itself for success in the dynamic and evolving world of model aircraft and related industries.
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Case Description
Since its founding in 1989, Mejzlík Modellbau, a propeller manufacturing company based in the Czech Republic, had gained high visibility in the remote-controlled plane market. It had achieved a strong position by maintaining product quality and providing excellent customer service. The company had a strong cash position and an excellent credit rating; however, by mid-2018, the market for remote-controlled planes was reaching its saturation stage, as evidenced by Mejzlík Modellbau's declining profits. If the company continued to rely solely on the remote-controlled plane market, it might soon face bankruptcy. The founder decided to explore various other markets wherein he could utilize his expertise of making high-quality carbon fibre propellers. But how would he strategically determine which market to pursue?
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