Harvard Case - From Pilot to Platform in Rural Pakistan: A Uniquely-Owned Company Scales to Change Lives
"From Pilot to Platform in Rural Pakistan: A Uniquely-Owned Company Scales to Change Lives" Harvard business case study is written by Ted London, Lisa Jones Christensen. It deals with the challenges in the field of Strategy. The case study is 22 page(s) long and it was first published on : Feb 2, 2023
At Fern Fort University, we recommend that Telenor Pakistan adopt a multi-pronged strategy to scale its 'Easypaisa' platform, leveraging its existing strengths and addressing key challenges. This strategy involves a combination of organic growth, strategic partnerships, product diversification, and expansion into new markets while prioritizing corporate social responsibility and sustainable business practices.
2. Background
This case study focuses on Telenor Pakistan's journey with 'Easypaisa,' a mobile financial service platform launched in 2009. Easypaisa has become a vital financial inclusion tool for millions of Pakistanis, particularly in rural areas, offering services like mobile money transfers, bill payments, and micro-loans. The case highlights the company's success in achieving significant market penetration and social impact, but also faces challenges in scaling its operations and expanding into new markets. The main protagonists are Muhammad Ejaz, CEO of Telenor Pakistan, and his team, who are tasked with navigating the company's future growth trajectory.
3. Analysis of the Case Study
3.1. SWOT Analysis:
Strengths:
- Strong Brand Recognition: Telenor's established brand and widespread network provide a significant advantage.
- Existing Customer Base: Easypaisa boasts a large and engaged user base, providing a solid foundation for growth.
- Technological Infrastructure: Telenor's robust network and IT infrastructure support the platform's operations.
- Social Impact: Easypaisa's positive impact on financial inclusion and poverty reduction strengthens its brand image.
Weaknesses:
- Limited Product Portfolio: Easypaisa's product offerings are relatively narrow compared to competitors.
- Competition: The mobile financial services market is becoming increasingly competitive.
- Regulatory Challenges: Navigating regulatory frameworks in Pakistan can be complex.
- Limited Financial Literacy: A significant portion of the target market lacks financial literacy, hindering adoption.
Opportunities:
- Expanding Product Offerings: Introducing new products and services to cater to diverse needs.
- Strategic Partnerships: Collaborating with other businesses to expand reach and access new markets.
- Market Expansion: Targeting new geographic regions within Pakistan and beyond.
- Technological Innovation: Leveraging AI and machine learning to enhance services and personalize customer experiences.
Threats:
- Economic Instability: Pakistan's economic volatility could impact user spending and adoption rates.
- Cybersecurity Risks: The platform is vulnerable to cyberattacks, requiring robust security measures.
- Competition from Traditional Financial Institutions: Banks and other financial institutions are increasingly entering the digital space.
- Regulatory Changes: Unfavorable changes in government policies could hinder growth.
3.2. Porter's Five Forces:
- Threat of New Entrants: High, due to the relatively low barriers to entry in the mobile financial services market.
- Bargaining Power of Buyers: Moderate, as users have alternative options, but Easypaisa offers unique features and value.
- Bargaining Power of Suppliers: Low, as Telenor has established relationships with suppliers.
- Threat of Substitute Products: High, as alternative payment methods like cash and traditional financial services exist.
- Rivalry Among Existing Competitors: High, as the market is crowded with several established players.
3.3. Value Chain Analysis:
Easypaisa's value chain consists of the following activities:
- Inbound Logistics: Managing partnerships and securing funds for the platform.
- Operations: Developing and maintaining the platform's technology and infrastructure.
- Outbound Logistics: Distributing services and facilitating transactions.
- Marketing and Sales: Promoting Easypaisa and acquiring new users.
- Customer Service: Providing support and resolving user issues.
3.4. Business Model Innovation:
Easypaisa's success stems from its innovative business model, which leverages technology to provide financial services to the unbanked population. The platform's key features include:
- Accessibility: Easypaisa is accessible to anyone with a mobile phone, regardless of their financial status.
- Affordability: The platform offers low transaction fees and affordable services.
- Convenience: Easypaisa provides a convenient and secure way to manage finances.
- Social Impact: The platform promotes financial inclusion and empowers individuals.
4. Recommendations
4.1. Organic Growth:
- Product Diversification: Expand product offerings to include micro-insurance, savings accounts, and investment products.
- Market Penetration: Increase user engagement by introducing loyalty programs, targeted marketing campaigns, and gamified features.
- Improved Customer Experience: Enhance user interface and customer support to improve satisfaction and retention.
4.2. Strategic Partnerships:
- Collaborate with Financial Institutions: Partner with banks and microfinance institutions to offer integrated financial services.
- Strategic Alliances with Businesses: Partner with retailers, utility companies, and other businesses to expand reach and offer value-added services.
- Government Partnerships: Collaborate with government agencies to promote financial inclusion initiatives.
4.3. Expansion into New Markets:
- Geographic Expansion: Explore opportunities in other emerging markets with similar demographics and needs.
- Cross-Border Payments: Enable seamless cross-border transactions to facilitate trade and remittances.
- New Customer Segments: Target specific customer segments like small and medium-sized enterprises (SMEs) and agricultural businesses.
4.4. Corporate Social Responsibility:
- Financial Literacy Programs: Develop and implement financial literacy initiatives to empower users.
- Sustainable Business Practices: Adopt environmentally friendly practices and support local communities.
- Social Impact Measurement: Track and report on the platform's social impact to demonstrate its value.
4.5. Technology and Analytics:
- AI and Machine Learning: Leverage AI and machine learning to personalize services, detect fraud, and optimize operations.
- Big Data Analytics: Analyze user data to identify trends, improve product development, and personalize marketing campaigns.
- Cybersecurity Enhancements: Invest in robust cybersecurity measures to protect user data and maintain platform integrity.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Leveraging Telenor's existing strengths in technology, brand recognition, and customer base.
- External Customers and Internal Clients: Addressing the needs of both individual users and businesses.
- Competitors: Staying ahead of the competition by offering innovative products and services.
- Attractiveness: Quantitative measures like increased user base, revenue growth, and social impact.
Assumptions:
- Continued economic growth in Pakistan.
- Favorable regulatory environment for mobile financial services.
- Increasing adoption of mobile technology in rural areas.
6. Conclusion
Telenor Pakistan's 'Easypaisa' platform has the potential to become a leading mobile financial services platform in Pakistan and beyond. By implementing the recommended strategy, Telenor can leverage its existing strengths, address key challenges, and achieve sustainable growth while making a positive social impact.
7. Discussion
Alternatives:
- Mergers and Acquisitions: Acquiring smaller competitors to gain market share and expand product offerings.
- Focus on Specific Niches: Targeting specific customer segments like women or youth.
Risks:
- Economic Uncertainty: Economic downturns could impact user spending and adoption rates.
- Competition: Increased competition could erode market share.
- Regulatory Changes: Unfavorable changes in government policies could hinder growth.
Key Assumptions:
- Continued economic growth in Pakistan.
- Favorable regulatory environment for mobile financial services.
- Increasing adoption of mobile technology in rural areas.
8. Next Steps
Timeline:
- Year 1: Implement product diversification and strategic partnerships.
- Year 2: Expand into new geographic markets and enhance technology infrastructure.
- Year 3: Focus on corporate social responsibility initiatives and long-term sustainability.
Key Milestones:
- Launch new products and services.
- Secure strategic partnerships.
- Expand into new geographic markets.
- Increase user base and revenue growth.
- Demonstrate positive social impact.
By following these recommendations and taking proactive steps to mitigate risks, Telenor Pakistan can successfully scale its 'Easypaisa' platform, achieve sustainable growth, and continue to make a positive difference in the lives of millions of people in Pakistan and beyond.
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Case Description
This case describes the journey that led to the creation of Saaf Sehatmand Services (SSS), a business founded by leaders from five consumer goods companies and the largest non-profit grassroots mobilization organization in Pakistan. SSS is a service company focused on distributing health, hygiene, and food products to low-income rural consumers. Its distribution model relies on local entrepreneurs (called Aapas) going door-to-door selling a basket of goods to other women in rural communities. The case tracks the SSS founding story from the viewpoint of the Pakistani operations of Reckitt-Benckiser (Reckitt), one of the world's largest FMCG companies. It examines the challenges faced by two new leaders in mid-2019 as they consider next steps to reach scale throughout Pakistan. These two leaders, Fahad Ashraf (chief executive at Reckitt Pakistan and chairman of the board of SSS) and Ayesha Janjua (head of marketing for English Biscuit Manufacturer and CEO of SSS), are focusing on developing a scalable business as opposed to launching another pilot project. They recognize that a "successful" pilot does not necessarily translate into an enterprise that can scale.
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