Harvard Case - Rise of the Drones: Identified Technologies
"Rise of the Drones: Identified Technologies" Harvard business case study is written by Andy Wu, George Gonzalez. It deals with the challenges in the field of Strategy. The case study is 21 page(s) long and it was first published on : Feb 7, 2018
At Fern Fort University, we recommend that Identified Technologies (IT) embrace a disruptive innovation strategy focused on product development and market development in the rapidly growing drone industry. This strategy should prioritize vertical integration within the drone ecosystem, leveraging IT's existing core competencies in sensor technology and AI and machine learning to develop innovative drone solutions for specific industry verticals. This approach will allow IT to establish a sustainable competitive advantage by creating a blue ocean strategy in niche markets, ultimately leading to significant business growth and value creation.
2. Background
The case study focuses on Identified Technologies (IT), a company specializing in sensor technology and AI, facing the opportunity to enter the rapidly growing drone industry. IT is considering various options, including developing its own drone platform, partnering with existing drone manufacturers, or focusing on developing specialized applications for drones. The case highlights the potential of drones across various sectors, including agriculture, logistics, infrastructure inspection, and security.
The main protagonists are the IT leadership team, who are grappling with the strategic decision of how to best leverage their existing capabilities to capitalize on the drone revolution.
3. Analysis of the Case Study
To analyze IT's strategic options, we can utilize several frameworks:
- Porter's Five Forces: This framework helps assess the competitive landscape of the drone industry. The analysis reveals high threat of new entrants due to low barriers to entry, intense rivalry among existing players, and increasing bargaining power of buyers. However, the threat of substitutes is relatively low, and the bargaining power of suppliers is moderate.
- SWOT Analysis: This framework helps identify IT's internal strengths and weaknesses and external opportunities and threats. IT's strengths include its expertise in sensor technology, AI, and software development. However, it lacks experience in drone manufacturing and faces competition from established players with deep pockets.
- Value Chain Analysis: This framework helps understand the key activities involved in the drone industry and identify where IT can create value. IT can leverage its expertise in sensor technology and AI to develop specialized drone applications, potentially creating a competitive advantage in specific industry verticals.
4. Recommendations
IT should adopt a disruptive innovation strategy focused on product development and market development in the drone industry. This strategy should involve:
- Vertical Integration: IT should focus on developing specialized drone solutions for specific industry verticals, leveraging its existing core competencies in sensor technology and AI and machine learning. This approach will allow IT to create a blue ocean strategy by targeting niche markets where competition is less intense.
- Strategic Partnerships: IT should forge strategic alliances with key players in specific industry verticals to gain access to their expertise and market reach. This will help IT accelerate its entry into new markets and build a strong network of partners.
- Product Development: IT should invest in developing innovative drone applications that address specific industry needs. This could include developing advanced sensors for precision agriculture, AI-powered drones for infrastructure inspection, or autonomous drones for logistics and delivery.
- Marketing Strategy: IT should focus on market segmentation and target specific industry verticals with tailored marketing campaigns. This will help IT build brand awareness and attract customers in its chosen niches.
- Organizational Structure and Design: IT should create a dedicated team focused on drone development and deployment. This team should have a strong understanding of the target industry verticals and be empowered to make decisions quickly.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: IT's core competencies in sensor technology and AI align well with the drone industry's growing demand for advanced sensor capabilities and data analysis. This strategy allows IT to leverage its existing expertise to create value in a new market.
- External Customers and Internal Clients: IT's strategy focuses on addressing the specific needs of customers in various industry verticals. This approach ensures that IT's offerings are relevant and valuable to its target audience.
- Competitors: By focusing on niche markets and developing specialized drone solutions, IT can differentiate itself from larger competitors and establish a sustainable competitive advantage.
- Attractiveness ' Quantitative Measures: The drone industry is projected to experience significant growth in the coming years, offering a large potential market for IT. The strategy's focus on vertical integration and product development will allow IT to capture a significant share of this market.
- Assumptions: This strategy assumes that IT can successfully develop and market innovative drone solutions that meet the specific needs of its target industry verticals. It also assumes that IT can secure strategic partnerships and build a strong network of collaborators.
6. Conclusion
By adopting a disruptive innovation strategy focused on product development and market development in the drone industry, IT can leverage its existing core competencies to create a sustainable competitive advantage. This strategy will allow IT to establish a strong presence in niche markets, ultimately leading to significant business growth and value creation.
7. Discussion
Other alternatives not selected include:
- Developing its own drone platform: This option would require significant investment in manufacturing and engineering capabilities, which IT currently lacks.
- Partnering with existing drone manufacturers: This option would limit IT's control over product development and potentially expose it to the risks associated with relying on external partners.
Risks associated with the recommended strategy include:
- Competition: IT may face competition from established players in specific industry verticals.
- Technological advancements: Rapid advancements in drone technology could make IT's solutions obsolete.
- Regulatory challenges: The drone industry is subject to evolving regulations, which could impact IT's operations.
Key assumptions include:
- IT's ability to successfully develop and market innovative drone solutions.
- The continued growth of the drone industry.
- IT's ability to secure strategic partnerships.
8. Next Steps
To implement the recommended strategy, IT should:
- Develop a detailed business plan: This plan should outline IT's target industry verticals, product development roadmap, marketing strategy, and financial projections.
- Secure funding: IT may need to raise capital to support its product development and marketing efforts.
- Build a dedicated team: IT should create a team of engineers, software developers, and marketing professionals focused on drone development and deployment.
- Establish strategic partnerships: IT should identify key players in its target industry verticals and establish strategic alliances.
- Monitor market trends: IT should continuously monitor the drone industry for new technologies, regulations, and market opportunities.
By taking these steps, IT can successfully navigate the rapidly evolving drone industry and establish itself as a leading provider of innovative drone solutions.
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Case Description
The founder and CEO of Identified Technologies, a Pittsburgh-based drone software and services company, faces a dilemma when San Francisco-based DroneDeploy begins to disrupt the industry with its drone software platform. Identified Technologies needs to consider network effects, customer needs, and the overall state of the drone industry to determine its future path.
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