Harvard Case - Schibsted
"Schibsted" Harvard business case study is written by Bharat N. Anand. It deals with the challenges in the field of Strategy. The case study is 36 page(s) long and it was first published on : Apr 16, 2007
At Fern Fort University, we recommend that Schibsted adopt a multi-pronged growth strategy focused on digital transformation, strategic acquisitions, and expansion into emerging markets. This strategy should be underpinned by a robust digital ecosystem that leverages AI and machine learning to enhance user experience, optimize operations, and drive innovation.
2. Background
Schibsted, a Norwegian media and technology company, faces challenges in a rapidly evolving digital landscape. Despite its strong presence in classifieds and media, the company needs to adapt to changing user behaviors, fierce competition, and the emergence of new digital platforms. The case study highlights Schibsted's efforts to navigate these challenges by investing in technology, exploring new business models, and expanding into international markets.
The main protagonists in the case are:
- Rolv Erik Ryssdal, CEO of Schibsted, who is tasked with leading the company's strategic transformation.
- The Schibsted leadership team, responsible for developing and executing the company's growth strategy.
- Schibsted's employees, who are crucial to implementing the company's vision and adapting to the changing digital landscape.
3. Analysis of the Case Study
To analyze Schibsted's situation, we can utilize several frameworks:
3.1. SWOT Analysis:
- Strengths: Strong brand recognition, established market position in classifieds, significant financial resources, experienced leadership team, and a culture of innovation.
- Weaknesses: Dependence on legacy business models, potential for disruption from new technologies, limited brand awareness in emerging markets, and challenges in managing a geographically diverse portfolio.
- Opportunities: Expansion into emerging markets with high growth potential, leveraging AI and machine learning for personalized user experiences, developing new digital products and services, and forging strategic alliances to expand reach and capabilities.
- Threats: Increasing competition from global tech giants, evolving user behaviors, regulatory changes, and potential economic downturns.
3.2. Porter's Five Forces:
- Threat of new entrants: High, due to the low barriers to entry in the digital space and the availability of innovative technologies.
- Bargaining power of buyers: High, as users have numerous alternatives and can easily switch between platforms.
- Bargaining power of suppliers: Low, as Schibsted relies on a wide range of technology providers and content creators.
- Threat of substitute products: High, as users can find alternative ways to fulfill their needs through social media, e-commerce platforms, and other online services.
- Competitive rivalry: High, with intense competition from established players and new entrants, particularly in emerging markets.
3.3. Value Chain Analysis:
Schibsted's value chain consists of:
- Inbound logistics: Sourcing technology, content, and talent.
- Operations: Developing and managing digital platforms, providing customer support, and generating revenue through advertising and subscriptions.
- Outbound logistics: Distributing content and services to users.
- Marketing and sales: Promoting services and attracting new users.
- Customer service: Providing support and resolving user issues.
- Technology development: Investing in research and development to enhance platforms and create new products.
3.4. Business Model Innovation:
Schibsted needs to continuously innovate its business model to adapt to the changing digital landscape. This includes:
- Developing new revenue streams: Exploring subscription models, premium services, and data-driven advertising.
- Leveraging data analytics: Utilizing user data to personalize content, optimize advertising, and improve user experience.
- Embracing mobile-first strategies: Optimizing platforms for mobile devices and developing mobile-specific features.
- Expanding into new markets: Targeting emerging markets with high growth potential and adapting services to local needs.
4. Recommendations
4.1. Digital Transformation Strategy:
- Invest heavily in technology and data analytics: Develop a robust digital ecosystem powered by AI and machine learning to personalize user experiences, optimize operations, and drive innovation.
- Embrace mobile-first strategies: Optimize platforms for mobile devices and develop mobile-specific features to cater to the growing mobile user base.
- Develop new digital products and services: Explore opportunities in areas like e-commerce, online payments, and digital content distribution.
- Leverage data analytics for personalized advertising: Utilize user data to deliver targeted and relevant advertising, improving user experience and increasing revenue.
4.2. Strategic Acquisitions:
- Identify and acquire promising startups: Focus on companies operating in high-growth segments like online marketplaces, fintech, and digital media.
- Leverage acquisitions to expand into new markets: Acquire companies with established presence in emerging markets to accelerate international expansion.
- Integrate acquired companies effectively: Ensure seamless integration of acquired companies into Schibsted's existing ecosystem to maximize value creation.
4.3. Expansion into Emerging Markets:
- Prioritize high-growth markets: Focus on emerging markets with large populations, rising internet penetration, and strong economic growth.
- Adapt services to local needs: Tailor products and services to meet the specific requirements of each market, considering cultural differences and local regulations.
- Build strong local partnerships: Collaborate with local businesses, media outlets, and government agencies to establish a strong foothold in new markets.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Schibsted's core competencies lie in technology development, online advertising, and managing classifieds platforms. The proposed strategy builds on these strengths while expanding into new areas aligned with the company's mission to connect people and businesses.
- External customers and internal clients: The recommendations prioritize user experience and focus on delivering personalized and relevant services to attract and retain customers. They also aim to empower employees with the tools and resources needed to thrive in the digital landscape.
- Competitors: The strategy aims to differentiate Schibsted from competitors by leveraging technology, expanding into new markets, and developing innovative products and services.
- Attractiveness ' quantitative measures: The recommendations are expected to generate significant returns on investment through increased revenue, market share, and profitability.
6. Conclusion
Schibsted has a strong foundation for success in the digital age. By embracing digital transformation, pursuing strategic acquisitions, and expanding into emerging markets, the company can secure a sustainable competitive advantage and achieve long-term growth.
7. Discussion
Alternatives:
- Focusing solely on cost leadership: While cost leadership can be effective in certain segments, it may not be sustainable in the long run, especially in a rapidly evolving digital landscape.
- Ignoring emerging markets: This would limit Schibsted's growth potential and expose the company to significant risks in the future.
- Relying solely on organic growth: While organic growth is important, strategic acquisitions can accelerate expansion and provide access to new markets and technologies.
Risks:
- Integration challenges: Merging acquired companies seamlessly into Schibsted's existing ecosystem can be complex and time-consuming.
- Regulatory hurdles: Navigating regulations in different markets can be challenging, especially in emerging economies.
- Competition from global tech giants: Schibsted needs to stay ahead of the curve and continuously innovate to compete with giants like Google and Facebook.
Key Assumptions:
- Continued growth of the digital economy: The recommendations assume continued growth in internet penetration and digital advertising.
- Availability of skilled talent: Schibsted needs to attract and retain skilled employees to drive its digital transformation.
- Favorable regulatory environment: The recommendations assume a supportive regulatory environment for Schibsted's operations in various markets.
8. Next Steps
To implement the recommendations, Schibsted should:
- Develop a detailed strategic plan: Outline specific goals, timelines, and resources for each initiative.
- Establish a dedicated team: Assemble a cross-functional team to lead the digital transformation, acquisitions, and international expansion efforts.
- Invest in technology and talent: Allocate resources for technology development, data analytics, and employee training.
- Monitor progress and adapt: Regularly assess the progress of initiatives and make adjustments as needed to ensure effectiveness.
By taking these steps, Schibsted can position itself for success in the digital age and achieve its ambitious growth goals.
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Case Description
In 2006, newspaper firms in developed markets were severely threatened on three fronts: the growth of online news, online classified advertising, and free newspapers. Schibsted, however, had managed to cope with these challenges successfully, and had become something of a legend in the newspaper community. Describes the evolution of Schibsted's strategy from print media towards electronic media starting in 1995, including their choices around the internal structuring of new ventures. In September 2006, the management team confronted a few salient questions: first, should Schibsted allow Google to crawl its online news sites in Scandinavia?; and second, were Schibsted's successes within Scandinavia repeatable outside it? Indeed, how far could Schibsted's competitive advantage travel?
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