Harvard Case - The Rise and Fall of the Circus
"The Rise and Fall of the Circus" Harvard business case study is written by Ramon Casadesus-Masanell, Karen Elterman. It deals with the challenges in the field of Strategy. The case study is 11 page(s) long and it was first published on : Dec 28, 2016
At Fern Fort University, we recommend a strategic transformation for the circus industry, focusing on disruptive innovation and digital transformation to address the declining audience and changing consumer preferences. This transformation will involve leveraging technology and analytics, social media, and strategic alliances to create a more engaging and accessible experience for modern audiences.
2. Background
The case study 'The Rise and Fall of the Circus' details the decline of the traditional circus model, facing challenges from changing public perceptions, animal welfare concerns, and the rise of digital entertainment. The main protagonists are the circus owners, struggling to maintain profitability and relevance in a rapidly evolving entertainment landscape.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths:
- Strong brand recognition and historical legacy
- Experienced performers and skilled technicians
- Established infrastructure and touring capabilities
- Weaknesses:
- Outdated business model and lack of innovation
- Negative public perception regarding animal welfare
- Difficulty attracting younger audiences
- Opportunities:
- Leverage technology for immersive experiences
- Focus on family-friendly entertainment and educational content
- Explore new markets and international expansion
- Threats:
- Competition from other entertainment options
- Increasing regulatory scrutiny and animal welfare concerns
- Economic downturns and changing consumer spending habits
Porter's Five Forces:
- Threat of New Entrants: Relatively low due to high capital investment and infrastructure requirements.
- Bargaining Power of Buyers: High due to numerous entertainment options and price sensitivity.
- Bargaining Power of Suppliers: Moderate, with performers and technicians having some bargaining power.
- Threat of Substitute Products: High, with numerous entertainment options available, including online streaming and theme parks.
- Rivalry Among Existing Competitors: Moderate, with competition from other circuses, live performance venues, and digital entertainment platforms.
Value Chain Analysis:
The circus's value chain can be analyzed as follows:
- Inbound Logistics: Procurement of costumes, props, equipment, and animal care.
- Operations: Training, rehearsals, and performance execution.
- Outbound Logistics: Transportation and setup of the circus tent and equipment.
- Marketing and Sales: Advertising, ticket sales, and promotion.
- Service: Providing entertainment and engaging with audiences.
Business Model Innovation:
The circus needs to consider business model innovation to address the changing market dynamics. This could involve:
- Shifting from a traditional touring model to a more localized, venue-based approach.
- Developing new revenue streams through merchandise, concessions, and partnerships.
- Leveraging digital platforms for marketing, ticketing, and audience engagement.
- Exploring partnerships with theme parks, educational institutions, and other entertainment providers.
4. Recommendations
Embrace Digital Transformation: Implement a comprehensive digital transformation strategy to enhance audience engagement, improve marketing efforts, and create new revenue streams. This includes:
- Developing a robust online presence: Create a user-friendly website, utilize social media platforms, and offer online ticketing and merchandise sales.
- Leveraging technology for immersive experiences: Incorporate augmented reality (AR), virtual reality (VR), and interactive elements into performances.
- Utilizing data analytics: Collect and analyze audience data to personalize marketing campaigns and improve the overall customer experience.
Focus on Family-Friendly Entertainment: Shift the focus from animal-centric acts to family-oriented performances featuring human performers, acrobatics, juggling, and other forms of entertainment. This will appeal to a wider audience and address animal welfare concerns.
Explore Strategic Alliances: Partner with other entertainment providers, educational institutions, and community organizations to expand reach and create unique experiences. This could involve joint marketing campaigns, co-branded events, and educational outreach programs.
Embrace Corporate Social Responsibility: Demonstrate a commitment to ethical practices and sustainability by promoting animal welfare, supporting local communities, and implementing environmentally friendly practices.
Invest in Leadership Development: Develop a strong leadership team with a vision for the future of the circus and the ability to navigate change effectively. This includes fostering a culture of innovation, collaboration, and continuous improvement.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations focus on leveraging the circus's existing core competencies in performance, infrastructure, and touring while adapting to the changing market demands.
- External Customers and Internal Clients: The recommendations prioritize the needs of modern audiences, particularly families and younger generations, while also considering the concerns of performers, staff, and stakeholders.
- Competitors: The recommendations address the competitive landscape by exploring new markets, leveraging technology, and building strategic alliances.
- Attractiveness: The recommendations are expected to increase audience engagement, generate new revenue streams, and enhance the circus's long-term viability.
6. Conclusion
The circus industry faces significant challenges, but by embracing disruptive innovation, digital transformation, and a commitment to corporate social responsibility, it can adapt to the changing entertainment landscape and secure a future for generations to come. By focusing on family-friendly entertainment, leveraging technology, and building strategic alliances, the circus can regain its relevance and appeal to a wider audience.
7. Discussion
Other alternatives not selected include:
- Continuing with the traditional model: This would likely lead to further decline as the market continues to evolve.
- Focusing solely on animal-centric acts: This would face increasing regulatory scrutiny and public backlash.
- Merging with another circus: While this could provide some short-term benefits, it may not address the underlying challenges facing the industry.
The key risks associated with the recommended approach include:
- High initial investment: Implementing digital transformation and developing new performances will require significant financial resources.
- Resistance to change: Some stakeholders may resist the transition to a more modern approach.
- Technological challenges: Successfully integrating technology into the circus experience will require expertise and ongoing maintenance.
8. Next Steps
The following steps should be taken to implement the recommendations:
- Develop a detailed strategic plan: This plan should outline the specific goals, timelines, and resources required for the transformation.
- Assemble a dedicated team: A team of experts in technology, marketing, and operations should be assembled to lead the implementation process.
- Invest in training and development: Performers, staff, and management should receive training on the new technologies and strategies.
- Pilot test new concepts: Pilot test new performances, digital initiatives, and partnerships before full-scale implementation.
- Continuously monitor and evaluate progress: Regularly assess the effectiveness of the transformation and make adjustments as needed.
By taking these steps, the circus industry can embark on a path of renewal and ensure its continued relevance in the 21st century.
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Case Description
This case describes the origins of the traditional circus, including its rise to popularity in the United States in the 1800s, and examines the factors that led to its decline in the 20th and 21st centuries.
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