Harvard Case - The Tampa Museum of Science and Industry: The Fowler Avenue Land Problem
"The Tampa Museum of Science and Industry: The Fowler Avenue Land Problem" Harvard business case study is written by Howard Husock, Christine W. Letts. It deals with the challenges in the field of Strategy. The case study is 20 page(s) long and it was first published on : Oct 30, 2001
At Fern Fort University, we recommend that the Tampa Museum of Science and Industry (MOSI) pursue a strategic alliance with the University of South Florida (USF) to develop a joint science and technology innovation center on the Fowler Avenue land. This partnership will leverage the strengths of both institutions, fostering innovation and growth while addressing MOSI's space constraints and USF's desire to expand its research and educational offerings.
2. Background
The Tampa Museum of Science and Industry (MOSI) is facing a critical decision regarding the future of its Fowler Avenue land. The museum is experiencing significant space limitations, hindering its ability to expand its exhibits, programs, and outreach initiatives. Simultaneously, the University of South Florida (USF) is seeking to expand its research and educational facilities, particularly in the fields of science and technology.
The case study focuses on the potential for a strategic alliance between MOSI and USF, exploring the benefits and challenges of developing a joint science and technology innovation center on the Fowler Avenue land.
3. Analysis of the Case Study
This case study presents a compelling opportunity for both MOSI and USF to leverage their respective strengths and achieve mutual goals. We can analyze the situation through the lens of several strategic frameworks:
a) Porter's Five Forces:
- Threat of New Entrants: The museum and science center industry is relatively stable, with limited threats from new entrants. However, the rise of online learning platforms and virtual museums could pose a potential threat.
- Bargaining Power of Buyers: The museum's target audience is primarily families and children, giving them limited bargaining power.
- Bargaining Power of Suppliers: The museum's suppliers are primarily educational institutions, technology providers, and exhibit designers, with moderate bargaining power.
- Threat of Substitutes: The museum faces competition from other entertainment and educational venues, including theme parks, zoos, and aquariums.
- Rivalry Among Existing Competitors: Competition among museums and science centers in the Tampa area is moderate, with each institution offering unique experiences.
b) SWOT Analysis:
MOSI:
- Strengths: Strong brand recognition, established educational programs, experienced staff, unique exhibits.
- Weaknesses: Space limitations, limited funding, aging infrastructure.
- Opportunities: Partnership with USF, expansion of STEM education programs, leveraging technology for interactive exhibits.
- Threats: Competition from other entertainment venues, declining public funding, changing visitor preferences.
USF:
- Strengths: Strong research capabilities, experienced faculty, diverse student body, access to funding opportunities.
- Weaknesses: Limited space for research and educational facilities, competition for funding, bureaucratic processes.
- Opportunities: Partnership with MOSI, expansion of science and technology programs, attracting top talent.
- Threats: Budget cuts, competition from other universities, changing research priorities.
c) Value Chain Analysis:
- Inbound Logistics: Both MOSI and USF rely on suppliers for exhibits, educational materials, technology, and research equipment.
- Operations: MOSI focuses on exhibit development, educational programs, and visitor experience, while USF focuses on research, teaching, and knowledge dissemination.
- Outbound Logistics: MOSI distributes its educational content through exhibits, programs, and outreach initiatives, while USF disseminates research findings through publications, presentations, and collaborations.
- Marketing and Sales: Both institutions engage in marketing and outreach to attract visitors and students.
- Service: MOSI provides educational and entertainment services to visitors, while USF provides educational and research services to students and the wider community.
d) Business Model Innovation:
A joint science and technology innovation center presents an opportunity for both MOSI and USF to innovate their business models. This could involve:
- Shared resources: Sharing facilities, equipment, and staff to reduce costs and increase efficiency.
- Joint programming: Developing collaborative educational programs and exhibits that leverage the expertise of both institutions.
- New revenue streams: Exploring new revenue streams through joint fundraising, corporate sponsorships, and research partnerships.
4. Recommendations
1. Establish a Joint Steering Committee: Form a joint steering committee composed of representatives from both MOSI and USF to oversee the development and implementation of the innovation center. This committee will be responsible for defining the scope, budget, and timeline for the project.
2. Develop a Comprehensive Business Plan: The steering committee should develop a comprehensive business plan outlining the vision, mission, goals, and operational plan for the innovation center. This plan should include a detailed financial analysis, including revenue projections, cost estimates, and funding sources.
3. Secure Funding: The steering committee should secure funding from various sources, including government grants, corporate sponsorships, private donations, and possibly a public-private partnership.
4. Design and Construction: The steering committee should oversee the design and construction of the innovation center, ensuring that the facility meets the needs of both MOSI and USF. The design should be innovative, engaging, and technologically advanced.
5. Programming and Operations: The steering committee should develop a comprehensive programming plan for the innovation center, including exhibits, educational programs, research projects, and public outreach initiatives. This plan should leverage the strengths of both institutions and offer unique experiences to visitors and students.
6. Marketing and Outreach: The steering committee should develop a comprehensive marketing and outreach plan to attract visitors, students, and research partners. This plan should utilize traditional and digital marketing channels, including social media, public relations, and targeted advertising.
5. Basis of Recommendations
These recommendations are based on the following considerations:
1. Core competencies and consistency with mission: The partnership aligns with the core competencies of both institutions, leveraging MOSI's expertise in science education and exhibit development and USF's strengths in research, teaching, and technology. The joint venture is consistent with the missions of both organizations, promoting STEM education, scientific discovery, and community engagement.
2. External customers and internal clients: The innovation center will cater to a diverse audience, including families, students, researchers, and the general public. It will also serve as a valuable resource for both MOSI and USF staff, providing opportunities for collaboration, professional development, and access to cutting-edge technology.
3. Competitors: The innovation center will differentiate itself from other entertainment and educational venues by offering a unique blend of science education, research, and technology. It will also leverage the combined brand recognition and resources of both MOSI and USF, giving it a competitive advantage.
4. Attractiveness ' quantitative measures: The financial viability of the innovation center will depend on a variety of factors, including the cost of construction, operating expenses, revenue projections, and funding sources. A detailed financial analysis should be conducted to assess the project's profitability and return on investment.
6. Conclusion
The Tampa Museum of Science and Industry's Fowler Avenue land problem presents a unique opportunity for both MOSI and USF to create a world-class science and technology innovation center. This partnership will leverage the strengths of both institutions, fostering innovation, growth, and community engagement. By embracing a collaborative approach, MOSI and USF can create a transformative experience that will benefit the Tampa Bay region for generations to come.
7. Discussion
Alternatives:
- MOSI develops the land independently: This option would allow MOSI to maintain control over the project, but it would require significant funding and could lead to duplication of resources.
- USF develops the land independently: This option would allow USF to expand its research and educational facilities, but it would limit the potential for collaboration with MOSI.
- Selling the land: This option would provide MOSI with a financial windfall, but it would result in the loss of a valuable asset and potentially limit future growth.
Risks and Key Assumptions:
- Funding: Securing sufficient funding for the innovation center is a critical risk. The steering committee should explore a variety of funding sources and develop contingency plans in case of funding shortfalls.
- Collaboration: Maintaining effective collaboration between MOSI and USF is essential for the success of the project. The steering committee should establish clear roles and responsibilities, foster open communication, and address any potential conflicts.
- Competition: The innovation center will face competition from other entertainment and educational venues. The steering committee should develop a comprehensive marketing and outreach plan to differentiate the center and attract visitors.
8. Next Steps
- Establish the Joint Steering Committee: Within the next three months, the steering committee should be formed and begin its work.
- Develop the Business Plan: The business plan should be completed within six months, including a detailed financial analysis.
- Secure Funding: The steering committee should actively seek funding from various sources and secure commitments within twelve months.
- Design and Construction: The design and construction phase should be completed within eighteen months, allowing for the opening of the innovation center within two years.
This strategic partnership between MOSI and USF has the potential to be a disruptive innovation in the museum and science center industry, creating a new model for collaboration and innovation. By embracing this opportunity, both institutions can achieve their goals while creating a valuable resource for the Tampa Bay community.
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Case Description
When the fast-growing Museum of Science and Industry in Tampa, Florida finds out that a key, privately-owned parcel of land adjoining its "campus" is up for sale, it moves quickly-but unsuccessfully-to convince the owner to sell the land through an arrangement combining a long-term payout and select tax advantages. The owners' rejection of this approach forces the museum to consider a variety of other options, ranging from partnership with a for-profit firm to a request for financial assistance from local county government, that already owned the land on which the formerly-public museum was located. This case uses the "Fowler Avenue land parcel question" as a window into the ways in which sudden, individual decisions faced by nonprofit boards of trustees are linked to larger strategic and financial issues for institutions. The MOSI board must consider the long-term prospects for its endowment, the question of admission fees, even the question of the propriety and efficacy of using board members to lobby public officials. The case was developed with the support of the Museum Trustee Association. Author: Howard Husock Sponsor: Christine Letts HKS Case Number 1629.0
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