Harvard Case - Sharp Corporation 2004
"Sharp Corporation 2004" Harvard business case study is written by David J. Collis. It deals with the challenges in the field of Strategy. The case study is 8 page(s) long and it was first published on : May 15, 2006
At Fern Fort University, we recommend that Sharp Corporation adopt a multi-pronged strategy focused on disruptive innovation, globalization, and strategic alliances to achieve sustainable growth and regain its competitive edge in the rapidly evolving electronics market. This strategy should prioritize product differentiation through innovation in key areas like LCD technology and digital transformation while leveraging emerging markets for expansion and strategic alliances for technology sharing and market access.
2. Background
Sharp Corporation, a Japanese electronics giant, faced a critical juncture in 2004. Despite its strong brand and reputation, the company was struggling to maintain profitability due to intense competition, declining market share, and a shrinking LCD market. The case study highlights Sharp's reliance on a single product line (LCDs) and its limited international presence. The company's reliance on a mature market and its failure to adapt to the changing consumer landscape contributed to its declining fortunes.
The main protagonists of the case study are:
- Mikio Katayama: CEO of Sharp Corporation, tasked with leading the company through a period of significant change and revitalization.
- Sharp's Management Team: Responsible for developing and executing the company's strategic plan to address the challenges it faced.
- Sharp's Stakeholders: Including employees, investors, customers, and suppliers, all of whom had a vested interest in the company's success.
3. Analysis of the Case Study
To analyze Sharp's situation, we employ a combination of frameworks:
1. Porter's Five Forces:
- Threat of New Entrants: High, due to the low barriers to entry in the electronics market and the availability of cheap manufacturing in emerging markets.
- Bargaining Power of Buyers: High, as consumers have many choices and can easily switch brands.
- Bargaining Power of Suppliers: Moderate, as Sharp relies on a few key suppliers for components, but these suppliers are also competing for other customers.
- Threat of Substitute Products: High, as consumers can choose from a wide range of alternative products, including smartphones, tablets, and laptops.
- Competitive Rivalry: Intense, with numerous established players like Samsung, LG, and Sony competing aggressively for market share.
2. SWOT Analysis:
- Strengths: Strong brand recognition, technological expertise in LCDs, established manufacturing infrastructure, and a loyal customer base.
- Weaknesses: Over-reliance on a single product line, limited international presence, slow response to market changes, and a rigid organizational structure.
- Opportunities: Growing demand for LCDs in emerging markets, potential for diversification into new product categories, and partnerships with other technology companies.
- Threats: Intense competition from Asian rivals, rapid technological advancements, and fluctuating commodity prices.
3. Value Chain Analysis:
Sharp's value chain is characterized by its strong manufacturing capabilities and a well-established distribution network. However, the company's limited focus on innovation and its weak marketing efforts have hampered its ability to create value for customers and differentiate itself from competitors.
4. Business Model Innovation:
Sharp's business model relied heavily on its LCD technology and its manufacturing capabilities. However, this model became unsustainable as the market shifted towards smaller, more versatile devices. Sharp needed to innovate its business model by diversifying its product portfolio, exploring new market segments, and embracing digital transformation.
4. Recommendations
To address Sharp's challenges and achieve sustainable growth, we recommend the following:
1. Disruptive Innovation:
- Invest heavily in R&D: Focus on developing innovative products and technologies, including organic LEDs (OLEDs), flexible displays, and advanced touchscreens.
- Embrace digital transformation: Leverage the Internet, AI, and machine learning to improve product development, manufacturing processes, and customer engagement.
- Develop new business models: Explore subscription services, personalized product offerings, and data-driven solutions to create new revenue streams and enhance customer value.
2. Globalization:
- Expand into emerging markets: Target high-growth regions like China, India, and Southeast Asia through strategic partnerships and localized product offerings.
- Develop a global brand strategy: Build a strong brand presence in key markets through targeted marketing campaigns, social media engagement, and strategic alliances.
- Adapt products and services to local needs: Tailor product features, pricing strategies, and marketing messages to meet the specific requirements of different regions.
3. Strategic Alliances:
- Partner with technology leaders: Collaborate with companies specializing in areas like software, AI, and mobile technology to enhance Sharp's product portfolio and market reach.
- Form joint ventures: Explore joint ventures with local partners in emerging markets to leverage their expertise and access local networks.
- Engage in cross-industry collaborations: Partner with companies in related industries, such as automotive, healthcare, and energy, to explore new applications for Sharp's technologies.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Sharp's core competencies lie in its technological expertise, manufacturing capabilities, and brand recognition. The recommendations leverage these strengths while encouraging a shift towards innovation and globalization.
- External customers and internal clients: The recommendations aim to meet the evolving needs of customers by offering innovative products, enhancing customer experience, and expanding into new markets.
- Competitors: The recommendations focus on differentiation through innovation, globalization, and strategic alliances, enabling Sharp to compete effectively against its rivals.
- Attractiveness - quantitative measures: The recommendations are expected to generate positive returns on investment by tapping into new markets, expanding product offerings, and improving operational efficiency.
- Assumptions: The recommendations assume that Sharp has the financial resources, technological capabilities, and organizational flexibility to implement the proposed strategy.
6. Conclusion
Sharp Corporation has a unique opportunity to regain its leadership position in the electronics market by embracing disruptive innovation, globalization, and strategic alliances. By investing in R&D, expanding into emerging markets, and forming strategic partnerships, Sharp can create a sustainable competitive advantage and achieve long-term growth.
7. Discussion
Other alternatives not selected include:
- Cost leadership: Focusing on reducing production costs and offering products at lower prices. However, this strategy would likely lead to a price war with competitors and could erode Sharp's brand image.
- Market penetration: Focusing on increasing market share in existing markets. However, this strategy would be challenging in a saturated market with intense competition.
- Vertical integration: Expanding into upstream or downstream activities, such as component manufacturing or retail distribution. However, this strategy would require significant capital investment and could create operational complexities.
Risks and key assumptions:
- Implementation challenges: Implementing the proposed strategy will require significant change management, organizational restructuring, and investment in new technologies.
- Competition: Sharp's competitors are also investing in innovation and globalization, creating a challenging competitive landscape.
- Economic uncertainty: Global economic conditions could impact Sharp's growth prospects and investment decisions.
8. Next Steps
To implement the recommended strategy, Sharp should:
- Develop a detailed strategic plan: Define clear objectives, timelines, and resource allocation for each initiative.
- Establish a dedicated team: Create a cross-functional team responsible for driving innovation, globalization, and strategic alliances.
- Invest in talent development: Train employees in new technologies, global business practices, and strategic thinking.
- Monitor progress and adapt: Continuously evaluate the effectiveness of the strategy and make adjustments as needed.
Sharp's journey back to the forefront of the electronics industry will require a commitment to innovation, a willingness to embrace change, and a strategic vision for the future. By embracing the recommendations outlined in this case study solution, Sharp can position itself for sustained growth and success in the rapidly evolving global marketplace.
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Case Description
Presents the performance of Sharp Corp. in 2004. Illustrates Sharp's continuing leadership in the high end LCD market.
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