Harvard Case - Sekisui House and the In-Home Early Detection Platform
"Sekisui House and the In-Home Early Detection Platform" Harvard business case study is written by John D. Macomber, Akiko Kanno. It deals with the challenges in the field of Strategy. The case study is 27 page(s) long and it was first published on : Feb 21, 2022
At Fern Fort University, we recommend Sekisui House pursue a strategic expansion into the in-home early detection platform market. This expansion should be driven by a combination of organic growth through product development and strategic acquisitions of promising startups within the healthtech and IoT sectors. This strategy will leverage Sekisui House's core competencies in construction, technology integration, and customer relationships, while tapping into the burgeoning market for preventative healthcare solutions.
2. Background
Sekisui House, a leading Japanese homebuilder, faces a challenging landscape. The Japanese construction industry is characterized by low growth and intense competition. Sekisui House seeks to diversify its portfolio and secure future growth by venturing into new markets. The company recognizes the potential of the in-home early detection platform, a technology that uses sensors and AI to monitor individuals' health and identify potential health issues early on. This aligns with the growing global trend towards preventative healthcare and the increasing use of technology in healthcare delivery.
The case study's main protagonists are:
- Sekisui House: A company seeking to leverage its strengths in construction and technology to enter a new market.
- The In-Home Early Detection Platform: A promising technology with the potential to disrupt the healthcare industry.
- The Japanese Construction Industry: A mature market with limited growth potential.
- The Global Healthcare Industry: A rapidly evolving market with a growing focus on preventative care.
3. Analysis of the Case Study
To analyze Sekisui House's strategic options, we can utilize various frameworks:
a) SWOT Analysis:
- Strengths: Strong brand reputation, expertise in construction and technology integration, existing customer base, financial resources.
- Weaknesses: Limited experience in the healthcare sector, potential challenges in navigating regulatory environments, reliance on a mature market.
- Opportunities: Growing demand for preventative healthcare, advancements in IoT and AI technology, potential for strategic partnerships with healthcare providers.
- Threats: Competition from established healthcare technology companies, regulatory hurdles, potential privacy concerns, technology obsolescence.
b) Porter's Five Forces:
- Threat of New Entrants: High, due to the relatively low barriers to entry in the technology sector.
- Bargaining Power of Buyers: Moderate, as customers have choices in healthcare technology providers.
- Bargaining Power of Suppliers: Moderate, as the technology industry is characterized by a diverse supply chain.
- Threat of Substitutes: Moderate, as alternative healthcare solutions exist, including traditional healthcare services and wearable devices.
- Rivalry Among Existing Competitors: High, as the healthcare technology sector is rapidly evolving with numerous players.
c) Value Chain Analysis:
Sekisui House's value chain can be leveraged to create a successful in-home early detection platform:
- Inbound Logistics: Procurement of sensors, software, and other components.
- Operations: Development, manufacturing, and integration of the platform.
- Outbound Logistics: Installation and maintenance of the platform in homes.
- Marketing & Sales: Leveraging existing customer relationships and building new partnerships with healthcare providers.
- Service: Providing ongoing support and data analysis to users.
d) Business Model Innovation:
Sekisui House can explore various business model innovations:
- Subscription-based model: Offering the platform as a monthly subscription service.
- Partnership model: Collaborating with healthcare providers to offer the platform as part of their services.
- Data-driven model: Utilizing data collected from the platform to develop new products and services.
4. Recommendations
Sekisui House should pursue a two-pronged strategy:
a) Organic Growth:
- Product Development: Invest in R&D to develop a robust and user-friendly in-home early detection platform.
- Technology Integration: Integrate the platform seamlessly into new and existing homes, leveraging Sekisui House's construction expertise.
- Data Analytics: Develop data analytics capabilities to provide valuable insights to users and healthcare providers.
- Marketing & Sales: Target the platform towards specific market segments, including elderly individuals and those with chronic conditions.
b) Strategic Acquisitions:
- Identify promising startups: Seek out startups specializing in healthtech, IoT, and AI, with a focus on in-home health monitoring solutions.
- Acquire strategic assets: Acquire startups to gain access to their technology, talent, and customer base.
- Integrate acquired companies: Integrate acquired companies into Sekisui House's existing operations to leverage synergies and accelerate growth.
5. Basis of Recommendations
This strategy aligns with Sekisui House's core competencies, particularly in construction, technology, and customer relationships. It also addresses the key external factors driving the in-home early detection market, including the growing demand for preventative healthcare and the increasing use of technology in healthcare delivery.
The recommendations are based on the following assumptions:
- Growing demand for preventative healthcare: The global population is aging, and there is a growing focus on preventative healthcare.
- Technological advancements: Continued advancements in IoT, AI, and sensor technology will drive innovation in the in-home early detection market.
- Regulatory environment: Regulatory frameworks will continue to evolve to support the development and adoption of healthcare technology.
- Consumer acceptance: Consumers will be receptive to the use of technology for health monitoring and early detection.
6. Conclusion
By pursuing a strategic expansion into the in-home early detection platform market, Sekisui House can diversify its portfolio, secure future growth, and create significant value for its stakeholders. This strategy leverages the company's core competencies, capitalizes on emerging market trends, and positions Sekisui House as a leader in the evolving healthcare technology landscape.
7. Discussion
Alternative strategies include:
- Focus on existing markets: Continue to focus on the Japanese construction market, seeking to improve efficiency and profitability.
- Joint venture partnerships: Form strategic partnerships with healthcare companies to develop and market the in-home early detection platform.
- Licensing technology: License the technology to other companies, focusing on research and development.
The key risks associated with the recommended strategy include:
- Competition: The healthcare technology sector is highly competitive, and Sekisui House will face competition from established players.
- Regulatory hurdles: Navigating regulatory environments for healthcare technology can be complex and time-consuming.
- Technology obsolescence: Rapid advancements in technology could render the platform obsolete.
The key assumptions underlying the recommendations are:
- Consumer demand: Consumers will be receptive to the use of technology for health monitoring.
- Technological advancements: Continued advancements in IoT, AI, and sensor technology will support the development of the platform.
- Regulatory environment: Regulatory frameworks will evolve to support the development and adoption of healthcare technology.
8. Next Steps
Sekisui House should take the following steps to implement the recommended strategy:
- Form a dedicated team: Assemble a team of experts in healthcare technology, construction, and data analytics.
- Conduct market research: Conduct thorough market research to identify target customer segments and potential competitors.
- Develop a pilot program: Develop and launch a pilot program to test the platform and gather user feedback.
- Secure funding: Secure funding for R&D, acquisitions, and marketing efforts.
- Establish partnerships: Form strategic partnerships with healthcare providers, technology companies, and other stakeholders.
- Monitor progress: Continuously monitor progress and make adjustments as needed.
By taking these steps, Sekisui House can successfully navigate the challenges and opportunities presented by the in-home early detection market and secure a leading position in this rapidly evolving industry.
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Case Description
To address an aging population and sales declines, a major Japanese homebuilder considers pivoting to provide and support an in-home health detection platform, in competition with tech companies. This case considers the point of view of major builders regarding how aggressively to adopt smart home technologies as the nature of demand changes and as they navigate the digitalization of a very traditional bricks and mortar industry. The company has to consider its core business of building and selling homes, which is now under pressure in Japan as the creation of new households is slowing and the population is aging. Should the company incorporate smart home components, particularly regarding health monitoring and early response to health crises, and establish an ongoing service relationship with the occupants? How will major building products manufacturers like Toto and Panasonic respond? Health insurance companies? Can the company's health detection service compete with voice recognition offerings like Alexa and Siri from Amazon and Apple? With respect to serving this aspect of an aging population, will expertise in the tangible real property aspects of homes be a stronger or weaker influence than digital services in this evolution of business and global society?
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