Harvard Case - Samsui: Social Return on Investment
"Samsui: Social Return on Investment" Harvard business case study is written by Weina Zhang, Ruth S.K. Tan, Dingyan Khoo, Gerald Chee Hean Koh, Damien Wai Cheong Lam, Dehn Wei Jie See Toh. It deals with the challenges in the field of Strategy. The case study is 12 page(s) long and it was first published on : Aug 2, 2019
At Fern Fort University, we recommend Samsui adopt a multi-pronged strategy to enhance its social impact and achieve a sustainable Social Return on Investment (SROI). This strategy should focus on building a robust social enterprise model, leveraging technology and analytics for data-driven decision-making, and actively engaging stakeholders in its mission.
2. Background
Samsui, a leading construction company in Singapore, is facing increasing pressure to demonstrate its social and environmental impact. The company is already involved in various community initiatives, but it lacks a structured approach to measuring and maximizing its social return. The case study highlights Samsui's desire to develop a sustainable business model that prioritizes both profitability and social responsibility.
The main protagonists of the case are:
- Mr. Tan: Samsui's CEO, who is committed to incorporating social responsibility into the company's core operations.
- Ms. Lee: Head of Corporate Social Responsibility (CSR), tasked with developing and implementing a comprehensive SROI strategy.
- Samsui's employees: The company's workforce, who are actively involved in community initiatives but lack clear guidance on how to contribute to SROI.
3. Analysis of the Case Study
Applying a Strategic Framework:
To analyze Samsui's situation, we can leverage the Porter's Five Forces framework to understand the industry dynamics and the Value Chain analysis to identify key areas for social impact creation.
Porter's Five Forces:
- Threat of New Entrants: The construction industry in Singapore is relatively competitive, but entry barriers are high due to regulatory requirements and capital intensity.
- Bargaining Power of Buyers: Samsui faces moderate bargaining power from its clients, who can choose from various contractors.
- Bargaining Power of Suppliers: Samsui has moderate bargaining power over its suppliers, as it relies on a diverse supply chain.
- Threat of Substitute Products: The threat of substitutes is low, as construction services are specialized and difficult to replace.
- Rivalry Among Existing Competitors: The industry is characterized by intense rivalry, driven by price competition and differentiation strategies.
Value Chain Analysis:
Samsui's value chain offers several opportunities for social impact:
- Procurement: Sourcing materials from local suppliers and promoting fair labor practices.
- Operations: Implementing sustainable construction practices, minimizing environmental impact, and providing safe working conditions.
- Marketing and Sales: Targeting projects with a strong social impact, such as affordable housing or infrastructure development in disadvantaged communities.
- Customer Service: Building long-term relationships with clients and contributing to community development through project-related initiatives.
SWOT Analysis:
Strengths:
- Strong brand reputation and market leadership.
- Experienced workforce and established network.
- Commitment to social responsibility and community engagement.
Weaknesses:
- Lack of a structured SROI framework.
- Limited data collection and analysis capabilities.
- Potential for conflicting priorities between profitability and social impact.
Opportunities:
- Growing demand for sustainable construction practices.
- Increasing investor interest in socially responsible companies.
- Potential to leverage technology and analytics for SROI measurement.
Threats:
- Economic downturn or regulatory changes impacting the construction industry.
- Competition from other companies focusing on social impact.
- Difficulty in quantifying and demonstrating SROI.
4. Recommendations
1. Develop a Robust Social Enterprise Model:
- Define a clear social mission: Articulate Samsui's social purpose and identify specific areas of focus, such as affordable housing, community development, or environmental sustainability.
- Integrate social impact into core business processes: Embed social responsibility into all stages of the value chain, from procurement to project execution and customer service.
- Develop a social impact measurement framework: Implement a robust SROI framework to quantify the social and environmental benefits of Samsui's projects.
- Establish a dedicated social impact team: Create a cross-functional team responsible for developing and implementing SROI strategies.
2. Leverage Technology and Analytics:
- Invest in data collection and analysis tools: Implement data management systems to track social impact metrics, such as employment opportunities created, community engagement initiatives, and environmental footprint reduction.
- Develop a data-driven decision-making process: Use analytics to identify areas for improvement, optimize resource allocation, and demonstrate the effectiveness of social impact initiatives.
- Utilize AI and machine learning: Explore the use of AI and machine learning algorithms to predict social impact outcomes and optimize resource allocation for maximum social return.
3. Engage Stakeholders Actively:
- Build strong relationships with community partners: Collaborate with local NGOs, community organizations, and government agencies to identify and address social needs.
- Empower employees to contribute to social impact: Create opportunities for employees to volunteer, participate in community initiatives, and share their expertise.
- Communicate SROI achievements transparently: Publish regular reports and case studies showcasing the positive impact of Samsui's projects, using social media and other channels to reach a wider audience.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Samsui's core competencies in construction and project management can be leveraged to deliver social impact while maintaining profitability.
- External customers and internal clients: The recommendations address the needs of Samsui's clients, investors, and employees by demonstrating the company's commitment to social responsibility.
- Competitors: By embracing a structured SROI approach, Samsui can differentiate itself from competitors and attract investors seeking socially responsible investments.
- Attractiveness: The recommendations are expected to enhance Samsui's brand reputation, attract talent, and improve investor confidence, ultimately contributing to long-term business growth.
Assumptions:
- Samsui's management is committed to implementing a comprehensive SROI strategy.
- The company has the resources and expertise to develop and implement the recommended initiatives.
- Stakeholders are receptive to Samsui's efforts to enhance its social impact.
6. Conclusion
By adopting a holistic approach to social impact measurement and incorporating SROI into its core business operations, Samsui can achieve a sustainable competitive advantage in the construction industry. The company can become a leader in corporate social responsibility, attract conscious consumers and investors, and contribute to the well-being of its communities.
7. Discussion
Alternative Options:
- Focusing solely on traditional CSR initiatives: This approach would not provide a structured framework for measuring and maximizing social return.
- Outsourcing SROI measurement: This option could be costly and might not provide the same level of control and integration with Samsui's core operations.
Risks and Key Assumptions:
- Resistance to change: Implementing a new SROI framework might face resistance from some employees or stakeholders.
- Data availability and accuracy: Collecting and analyzing accurate social impact data can be challenging.
- Financial resources: Investing in technology and personnel to support SROI initiatives requires significant financial resources.
8. Next Steps
- Develop a detailed implementation plan: Define specific goals, timelines, and resource allocation for each recommendation.
- Pilot test SROI initiatives: Implement pilot projects to test the effectiveness of the proposed framework and gather feedback from stakeholders.
- Communicate the SROI strategy: Share the company's vision and goals with employees, clients, and investors to build support and engagement.
- Monitor and evaluate progress: Regularly track and evaluate the impact of SROI initiatives and adjust the strategy as needed.
By taking these steps, Samsui can become a model for sustainable and socially responsible business practices, achieving a positive social impact while driving long-term business growth.
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Case Description
Samsui Supplies & Services Private Limited provided 1.8 million meals annually to long-term care facilities in Singapore through the company's flagship project, Samsui Central Kitchen. The company had won accolades for its work, and in April 2018, the director felt that the time was right to expand the project. He wondered, however, how he would illustrate to the organization's key stakeholders the social impact Samsui was having in the SG$89 million market of providing meals for long-term care facilities. To gain support for scaling up Samsui's initiatives and maximizing the social impact the company was delivering, the director needed to quantify the impact of the company's corporate social responsibility initiatives in a clear and simple message to its various stakeholders.
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