Harvard Case - Sharp Corp.: Technology Strategy
"Sharp Corp.: Technology Strategy" Harvard business case study is written by David J. Collis, Tsutomu Noda. It deals with the challenges in the field of Strategy. The case study is 26 page(s) long and it was first published on : Feb 16, 1993
At Fern Fort University, we recommend Sharp Corp. adopt a multi-pronged strategy focused on disruptive innovation, strategic alliances, and global expansion to regain its competitive advantage in the evolving technology landscape. This strategy will leverage Sharp's existing strengths in display technology and manufacturing while venturing into new markets and business models.
2. Background
Sharp Corp., once a leading innovator in consumer electronics, faced declining market share and profitability due to fierce competition from Asian rivals and the rise of smartphone technology. The case study highlights Sharp's struggles to adapt to the changing market dynamics, particularly in the display and mobile device sectors. The company's reliance on traditional business models and its slow response to technological advancements contributed to its declining fortunes.
The main protagonists of the case study are:
- Sharp's management team: They are tasked with navigating the company's strategic direction and finding ways to revitalize its business.
- Sharp's employees: They are the driving force behind the company's operations and innovation, but they are also affected by the company's struggles.
- Sharp's customers: They are the ultimate beneficiaries of Sharp's products and services, and their changing needs and preferences are shaping the company's future.
- Sharp's competitors: They are constantly pushing the boundaries of technology and challenging Sharp's market position.
3. Analysis of the Case Study
To analyze Sharp's situation, we can utilize several frameworks:
a) SWOT Analysis:
- Strengths: Strong brand recognition, expertise in display technology, established manufacturing capabilities, and a global presence.
- Weaknesses: Slow innovation cycle, reliance on mature markets, limited product diversification, and financial constraints.
- Opportunities: Emerging markets, growth in digital signage, Internet of Things (IoT) applications, and advancements in AI and machine learning.
- Threats: Intense competition from Asian rivals, rapid technological advancements, fluctuating commodity prices, and changing consumer preferences.
b) Porter's Five Forces:
- Threat of new entrants: High due to low barriers to entry in many technology sectors.
- Bargaining power of buyers: High due to numerous choices and readily available alternatives.
- Bargaining power of suppliers: Moderate, as Sharp relies on a diverse range of suppliers.
- Threat of substitute products: High, as new technologies and innovations constantly emerge.
- Competitive rivalry: Very high, with intense competition from both domestic and international players.
c) Value Chain Analysis:
Sharp's value chain can be analyzed to identify areas for improvement. The company needs to focus on streamlining its manufacturing processes, enhancing its product development capabilities, and strengthening its marketing and distribution channels.
d) Business Model Innovation:
Sharp needs to explore new business models to adapt to the evolving technology landscape. This could include:
- Subscription-based services: Offering access to its technology and services on a subscription basis.
- Partnerships: Collaborating with other companies to develop and market innovative products and services.
- Vertical integration: Expanding into new areas of the value chain, such as software development or content creation.
4. Recommendations
Sharp Corp. should implement the following recommendations to regain its competitive advantage:
1. Disruptive Innovation:
- Focus on emerging technologies: Invest in research and development of next-generation technologies such as AI, machine learning, and augmented reality.
- Develop innovative products and services: Leverage its expertise in display technology to create new products and services that address emerging market needs.
- Embrace open innovation: Collaborate with startups, universities, and research institutions to accelerate innovation and gain access to new technologies.
- Experiment with new business models: Explore subscription-based services, partnerships, and vertical integration to unlock new revenue streams.
2. Strategic Alliances:
- Partner with technology leaders: Form strategic alliances with companies in complementary fields, such as software development, data analytics, and cloud computing.
- Leverage complementary strengths: Collaborate with partners to develop and market innovative products and services that combine their respective expertise.
- Expand into new markets: Leverage partnerships to enter new markets and gain access to new customer segments.
3. Global Expansion:
- Target emerging markets: Focus on expanding into high-growth markets in Asia, Africa, and Latin America.
- Customize products and services: Adapt its products and services to meet the specific needs and preferences of different regional markets.
- Develop local partnerships: Partner with local companies to gain access to distribution channels, regulatory expertise, and cultural insights.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations leverage Sharp's existing strengths in display technology and manufacturing while venturing into new areas that align with its core competencies.
- External customers and internal clients: The recommendations address the changing needs and preferences of customers and internal stakeholders, such as employees.
- Competitors: The recommendations aim to differentiate Sharp from its competitors by focusing on disruptive innovation, strategic alliances, and global expansion.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to generate positive returns on investment through increased market share, revenue growth, and profitability.
- Assumptions: The recommendations assume that Sharp can successfully implement its strategic initiatives, maintain its commitment to innovation, and adapt to the evolving technology landscape.
6. Conclusion
By embracing disruptive innovation, forming strategic alliances, and expanding globally, Sharp Corp. can regain its competitive advantage and achieve sustainable growth in the evolving technology landscape. The company needs to be agile, adaptable, and willing to embrace change to thrive in this dynamic environment.
7. Discussion
Alternatives not selected:
- Focusing solely on cost leadership: While cost leadership can be a viable strategy, it may not be sustainable in the long term, as competitors can quickly match or undercut prices.
- Merging with another company: While a merger could provide access to new technologies and resources, it could also lead to cultural clashes and integration challenges.
Risks and key assumptions:
- Implementation challenges: Successfully implementing the recommended strategy requires significant investment, organizational change, and effective execution.
- Technological uncertainty: The rapid pace of technological advancements creates uncertainty about the future of the technology industry.
- Competition: Sharp needs to be prepared to compete aggressively with established players and new entrants.
8. Next Steps
Sharp Corp. should develop a detailed implementation plan with specific milestones and timelines. This plan should include:
- Resource allocation: Allocate sufficient resources to support research and development, strategic alliances, and global expansion.
- Organizational structure and design: Adapt the organizational structure to support the new strategic direction.
- Leadership development: Develop leaders with the skills and experience necessary to drive innovation and growth.
- Performance monitoring: Track progress against key performance indicators and adjust the strategy as needed.
By taking these steps, Sharp Corp. can position itself for success in the future of technology.
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Case Description
Teaches the evolution of the corporate strategy of Sharp Corp., Japan. Sharp Corp., a second-tier assembler of TV sets and home appliances, gradually and consistently improved performance by developing expertise in electronic device technologies such as specialized ICs and LCDs and used these technologies to develop innovative end products. As a result, the company was regarded as a world leader in opto-electronics and was becoming a premier comprehensive electronics company. Teaching Objectives: Explores how the company identified, developed, and leveraged its lay technologies. Also discusses how the company coordinated across multiple businesses, and its organizational capabilities.
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