Harvard Case - Telenor Group: Developing a New Business Model
"Telenor Group: Developing a New Business Model" Harvard business case study is written by Frank Elter, Marcus Moller Larsen, Torben Pedersen. It deals with the challenges in the field of Strategy. The case study is 7 page(s) long and it was first published on : Oct 4, 2019
At Fern Fort University, we recommend a multi-pronged strategy for Telenor Group to develop a new business model that capitalizes on emerging opportunities and ensures sustainable growth. This strategy focuses on digital transformation, strategic acquisitions, expansion into new markets, and leveraging existing infrastructure to offer innovative services.
2. Background
Telenor Group, a leading telecommunications company, faces challenges in a rapidly evolving market. Traditional voice and data services are becoming commoditized, while competition is intensifying. The case study highlights Telenor's need to adapt and develop a new business model to maintain its competitive advantage.
The main protagonists in this case are:
- Sigve Brekke: CEO of Telenor Group, tasked with leading the company's transformation.
- Telenor's management team: Responsible for developing and implementing the new business model.
- Telenor's stakeholders: Including customers, employees, investors, and governments, who are impacted by the company's decisions.
3. Analysis of the Case Study
To analyze Telenor's situation, we employ a combination of frameworks:
- Porter's Five Forces: The telecommunications industry is characterized by high rivalry due to numerous players, moderate threat of new entrants due to high capital requirements, moderate bargaining power of buyers due to switching costs, moderate bargaining power of suppliers due to limited suppliers, and high threat of substitutes due to the rise of OTT services.
- SWOT Analysis:
- Strengths: Strong brand recognition, extensive network infrastructure, experience in emerging markets, strong financial position.
- Weaknesses: Reliance on traditional services, slow adoption of new technologies, complex organizational structure.
- Opportunities: Growth in mobile data, Internet of Things (IoT), digital financial services, expansion into new markets.
- Threats: Competition from established players and new entrants, regulatory changes, economic uncertainty.
- Value Chain Analysis: Telenor's value chain can be enhanced by focusing on digital transformation to improve customer experience, innovation in product development, and strategic partnerships to expand into new markets.
- Resource-Based View: Telenor's core competencies lie in its network infrastructure, customer base, and expertise in emerging markets. These resources can be leveraged to create a sustainable competitive advantage by developing new services and entering new markets.
4. Recommendations
Telenor should pursue the following recommendations to develop a new business model:
Digital Transformation: Implement a comprehensive digital transformation strategy to improve customer experience, enhance operational efficiency, and develop new digital services. This includes:
- Investing in technology and analytics: Leverage AI and machine learning to personalize services, optimize network performance, and develop new digital products.
- Building a digital ecosystem: Partner with fintech companies, e-commerce platforms, and other businesses to create a comprehensive digital offering for customers.
- Developing a digital culture: Empower employees with digital skills and create an agile and innovative work environment.
Strategic Acquisitions: Acquire companies with complementary technologies, expertise, or market presence to accelerate growth and expand into new markets. This could include:
- Fintech companies: Enter the rapidly growing digital financial services market by acquiring or partnering with fintech companies.
- IoT companies: Leverage Telenor's network infrastructure to offer IoT solutions for businesses and consumers.
- Emerging market operators: Expand into new markets by acquiring or merging with local operators.
Expansion into New Markets: Capitalize on opportunities in emerging markets with high growth potential. This includes:
- Market segmentation: Target specific customer segments with tailored products and services.
- Market development: Expand into new geographic regions with high mobile penetration and internet adoption.
- Product development: Offer innovative products and services that meet the specific needs of emerging market customers.
Leveraging Existing Infrastructure: Utilize Telenor's existing network infrastructure to offer new services and generate additional revenue. This includes:
- Vertical integration: Expand into adjacent industries, such as content delivery, digital advertising, and mobile payments.
- Strategic alliances: Partner with other companies to offer bundled services and access new markets.
- Outsourcing: Outsource non-core functions to improve efficiency and focus on core competencies.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations leverage Telenor's core competencies in network infrastructure, customer base, and expertise in emerging markets, while aligning with the company's mission to connect people and empower societies.
- External customers and internal clients: The recommendations focus on improving customer experience, enhancing employee engagement, and creating value for all stakeholders.
- Competitors: The recommendations aim to differentiate Telenor from competitors by offering innovative services and expanding into new markets.
- Attractiveness ' quantitative measures: The recommendations are expected to generate significant returns on investment through increased revenue, market share, and customer satisfaction.
6. Conclusion
By implementing these recommendations, Telenor Group can develop a new business model that ensures sustainable growth in a rapidly evolving market. The focus on digital transformation, strategic acquisitions, expansion into new markets, and leveraging existing infrastructure will position Telenor for success in the digital age.
7. Discussion
Other alternatives not selected include:
- Divesting non-core businesses: This could free up resources for investment in new ventures, but could also lead to job losses and a loss of market share.
- Focusing solely on cost leadership: This could be a short-term solution, but could lead to a loss of innovation and differentiation.
Key assumptions of the recommendations include:
- Continued growth in mobile data and internet adoption: The recommendations rely on the continued growth of mobile data and internet adoption in emerging markets.
- Technological advancements: The recommendations assume that technology will continue to evolve and create new opportunities for Telenor.
- Regulatory environment: The recommendations assume a stable regulatory environment that supports innovation and competition.
8. Next Steps
To implement these recommendations, Telenor should take the following steps:
- Develop a detailed implementation plan: Define specific goals, timelines, and resources for each recommendation.
- Establish a dedicated team: Create a cross-functional team to oversee the implementation of the new business model.
- Communicate effectively: Communicate the strategy to all stakeholders, including employees, customers, and investors.
- Monitor progress and adjust as needed: Regularly monitor the progress of the implementation and adjust the strategy as needed based on market conditions and performance metrics.
By taking these steps, Telenor can successfully navigate the challenges of the telecommunications industry and achieve long-term sustainable growth.
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Case Description
In January 2019, the telecommunications industry was under severe threat of disruption. Telecommunications companies (telcos), which had historically been able to cope with technological disruption by moving from first-generation through to fifth-generation cellular network technologies, were now threatened by digital service providers (DSPs)-firms that came with a new business model that threatened the telcos' existing business models. Telcos were being forced to deliver only network connectivity, whereas DSPs had positioned themselves to deliver the more lucrative digital services directly to customers. The Norwegian telco Telenor Group (Telenor) decided to take up this battle by offering digital services to end-customers. However, doing so raised several important questions: Was full confrontation with large DSPs inevitable, or was there another way? How could Telenor switch from the old to the new business model? Was it possible to manage two conflicting business models under the same company?
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