Harvard Case - Ohmycake.in: Scaling Up by Scaling Back
"Ohmycake.in: Scaling Up by Scaling Back" Harvard business case study is written by Nobin Thomas, Abhilash G. Nambudiri. It deals with the challenges in the field of Strategy. The case study is 12 page(s) long and it was first published on : Dec 21, 2018
At Fern Fort University, we recommend Ohmycake.in adopt a hybrid growth strategy focusing on strategic expansion through selective acquisitions and organic growth through product diversification and market penetration. This strategy aims to leverage Ohmycake.in's existing core competencies in product development, customer service, and brand management while mitigating risks associated with rapid expansion.
2. Background
Ohmycake.in, a successful online bakery startup, faces a critical juncture. Having achieved significant success in the Delhi market, the company is exploring options for business expansion and scaling up. The key protagonist, Anurag, the founder, must decide between pursuing aggressive growth through mergers and acquisitions or focusing on organic growth through product diversification and market penetration.
3. Analysis of the Case Study
Competitive Advantage: Ohmycake.in's initial success stemmed from its product differentiation through unique cake designs and high-quality ingredients, coupled with excellent customer service. This strong brand identity and customer loyalty provide a competitive advantage.
SWOT Analysis:
Strengths:
- Strong brand recognition and customer loyalty
- Unique product offerings and high-quality ingredients
- Strong online presence and efficient delivery network
- Experienced and passionate team
Weaknesses:
- Limited geographic reach
- Dependence on a single product category
- Potential for operational challenges with rapid expansion
Opportunities:
- Expanding into new markets through acquisitions or franchising
- Diversifying product offerings to cater to wider customer segments
- Leveraging technology for enhanced customer experience and operations
Threats:
- Increasing competition in the online bakery market
- Economic fluctuations impacting consumer spending
- Potential for supply chain disruptions
Porter's Five Forces:
- Threat of New Entrants: Moderate due to the relatively low barriers to entry in the online bakery market.
- Bargaining Power of Buyers: Moderate, as customers have multiple options available and can easily switch providers.
- Bargaining Power of Suppliers: Low, as Ohmycake.in has established relationships with reliable suppliers.
- Threat of Substitutes: High, as customers can choose from a variety of alternative dessert options.
- Rivalry Among Existing Competitors: High, with numerous online bakeries and traditional bakeries competing for market share.
Value Chain Analysis:
Ohmycake.in's value chain includes:
- Inbound Logistics: Sourcing high-quality ingredients from reliable suppliers.
- Operations: Cake production, decoration, and packaging.
- Outbound Logistics: Delivery network and customer service.
- Marketing and Sales: Online platform, social media marketing, and promotions.
- Customer Service: Responding to customer inquiries, handling orders, and resolving issues.
Business Model Innovation:
Ohmycake.in's business model relies on digital transformation through its online platform and efficient delivery network. This model can be further enhanced by incorporating AI and machine learning for personalized recommendations, inventory management, and customer insights.
Strategic Planning:
Ohmycake.in needs to develop a comprehensive strategic plan that outlines its growth strategy, target markets, and competitive positioning. This plan should incorporate a balanced scorecard to track progress against key performance indicators (KPIs) across financial, customer, internal processes, and learning and growth perspectives.
4. Recommendations
Hybrid Growth Strategy:
- Strategic Acquisitions: Focus on acquiring established bakeries in specific target markets with strong brand recognition and customer base. This strategy offers immediate market penetration and access to new customer segments.
- Organic Growth:
- Product Diversification: Expand product offerings to include a wider range of desserts, such as cookies, pastries, and chocolates. This strategy caters to diverse customer preferences and increases revenue streams.
- Market Penetration: Strengthen brand presence in existing markets through targeted marketing campaigns, loyalty programs, and partnerships with local businesses. This strategy builds brand loyalty and increases market share.
Implementation:
- Phase 1 (Year 1): Focus on strategic acquisitions in high-potential markets like Mumbai and Bangalore.
- Phase 2 (Year 2-3): Implement product diversification and market penetration strategies in existing and newly acquired markets.
- Phase 3 (Year 4 onwards): Explore horizontal integration through partnerships with complementary businesses like cafes and restaurants to expand distribution channels and reach new customer segments.
5. Basis of Recommendations
This hybrid growth strategy aligns with Ohmycake.in's core competencies in product development, customer service, and brand management. It addresses the need for business expansion while mitigating the risks associated with rapid growth. The strategy also considers external customers by offering a wider range of products and improved accessibility, and internal clients by providing opportunities for career growth and development.
Attractiveness:
- NPV and ROI: Strategic acquisitions and market penetration strategies are expected to generate positive NPV and ROI due to increased market share and revenue streams.
- Break-even and Payback: Product diversification strategies will require initial investment but are expected to achieve break-even and payback within a reasonable timeframe.
Assumptions:
- The online bakery market will continue to grow in India.
- Ohmycake.in can successfully integrate acquired businesses and maintain brand consistency.
- The company can effectively manage operational challenges associated with expansion.
6. Conclusion
By adopting a hybrid growth strategy, Ohmycake.in can achieve sustainable growth while maintaining its core values and brand identity. This strategy leverages the company's existing strengths and addresses emerging market opportunities, positioning Ohmycake.in for long-term success in the competitive Indian bakery market.
7. Discussion
Alternatives:
- Aggressive Acquisition Strategy: This strategy carries a higher risk of integration challenges and potential dilution of brand identity.
- Franchising Model: This model requires a strong franchise management system and may lead to inconsistencies in product quality and customer service.
Risks:
- Integration challenges with acquired businesses.
- Maintaining brand consistency across multiple markets.
- Managing operational complexities associated with expansion.
Key Assumptions:
- The online bakery market will continue to grow in India.
- Ohmycake.in can successfully integrate acquired businesses and maintain brand consistency.
- The company can effectively manage operational challenges associated with expansion.
8. Next Steps
- Develop a comprehensive strategic plan outlining the hybrid growth strategy, target markets, and competitive positioning.
- Identify potential acquisition targets in key markets.
- Conduct due diligence on potential acquisitions.
- Develop a product diversification plan to expand product offerings.
- Implement targeted marketing campaigns to increase brand awareness and market penetration.
- Establish a strong franchise management system if pursuing a franchising model.
This case study solution provides a roadmap for Ohmycake.in to navigate its growth trajectory while maintaining its core values and competitive advantage. By strategically blending organic growth with strategic acquisitions, Ohmycake.in can position itself for lasting success in the dynamic Indian bakery market.
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Case Description
In January 2017, the online cake company Ohmycake.in, which was started two years earlier by a young entrepreneur in Kerala, India, ran into trouble after a series of successful experiments. Adding to the company's problems, customers were becoming more demanding and the competition was catching up. The entrepreneur had hired a new operations executive to help solve the company's business strategy and scalability issues, including a current problem: whether to accept or reject demanding custom orders that were appearing in the company's online order management system.
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