Harvard Case - Top Glaciers Inc.: A New Ice Age? (Part A)
"Top Glaciers Inc.: A New Ice Age? (Part A)" Harvard business case study is written by Luc Belanger-Martin, Anne Mesny, Marie-Eve Quenneville, Annie Guerard. It deals with the challenges in the field of Strategy. The case study is 11 page(s) long and it was first published on : Jun 13, 2023
At Fern Fort University, we recommend Top Glaciers Inc. (TGI) adopt a multi-pronged strategy that leverages its existing strengths while embracing disruptive innovation to secure a sustainable competitive advantage in the evolving ice industry. This strategy focuses on:
- Expanding into new markets: TGI should prioritize market development by targeting emerging markets with high growth potential and a growing demand for premium ice products.
- Diversifying product offerings: TGI should invest in product development to create innovative ice products tailored to specific customer needs, such as flavored ice, specialized ice for cocktails, and ice sculptures.
- Embracing digital transformation: TGI should leverage the power of the internet and social media to enhance its brand image, build customer loyalty, and optimize its operations.
- Building strategic alliances: TGI should collaborate with key players in the food and beverage industry to expand its reach and create new revenue streams.
- Prioritizing environmental sustainability: TGI should implement sustainable practices across its operations, including water conservation and energy efficiency, to attract environmentally conscious consumers and enhance its brand image.
2. Background
Top Glaciers Inc. is a family-owned business that has been supplying high-quality ice to restaurants and bars in its local market for over 50 years. The company faces increasing competition from larger, more efficient ice producers, and the growing popularity of alternative cooling methods like ice machines poses a significant threat to its traditional business model. TGI's current strategy relies heavily on its local market and its reputation for quality, but this is no longer enough to ensure long-term success.
The main protagonists are the three siblings, who represent different perspectives on the company's future. The eldest, John, is a traditionalist who believes in maintaining the company's existing operations and avoiding risky ventures. The middle child, Sarah, is more entrepreneurial and believes in exploring new markets and products. The youngest, Michael, is a tech-savvy millennial who sees the potential of digital transformation and strategic alliances.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong reputation for quality ice
- Loyal customer base
- Experienced workforce
- Family-owned business with strong values
Weaknesses:
- Limited market reach
- Traditional business model
- Lack of investment in technology
- Limited product offerings
Opportunities:
- Growing demand for premium ice in emerging markets
- Potential for product diversification
- Digital transformation and e-commerce
- Strategic alliances with food and beverage companies
Threats:
- Increasing competition from larger ice producers
- Growing popularity of alternative cooling methods
- Economic downturn impacting consumer spending
- Environmental regulations impacting ice production
Porter's Five Forces:
- Threat of new entrants: Moderate, due to the relatively low barriers to entry in the ice industry.
- Bargaining power of buyers: Moderate, as restaurants and bars have some bargaining power due to the availability of alternative ice suppliers.
- Bargaining power of suppliers: Low, as the raw materials for ice production are readily available.
- Threat of substitutes: High, due to the availability of alternative cooling methods, such as ice machines.
- Competitive rivalry: High, due to the increasing number of ice producers and the growing competition from alternative cooling methods.
Value Chain Analysis:
TGI's value chain includes the following key activities:
- Inbound logistics: Sourcing raw materials (water) and ensuring quality control.
- Operations: Ice production, packaging, and distribution.
- Outbound logistics: Delivering ice to customers.
- Marketing and sales: Promoting TGI's products and services to restaurants and bars.
- Customer service: Providing excellent customer service to retain existing customers.
Business Model Innovation:
TGI needs to explore business model innovation to adapt to the changing market landscape. This could involve:
- Direct-to-consumer sales: Selling ice directly to consumers through online platforms or retail outlets.
- Subscription services: Offering subscription services for regular ice deliveries to restaurants and bars.
- Value-added services: Providing additional services, such as ice sculpture carving or custom ice mixes.
- Strategic alliances: Collaborating with food and beverage companies to develop and market new ice products.
4. Recommendations
1. Market Development:
- Target emerging markets: TGI should prioritize market development by targeting emerging markets with high growth potential and a growing demand for premium ice products. This could involve establishing partnerships with local distributors or setting up production facilities in these markets.
- Focus on market segmentation: TGI should identify specific customer segments within these markets and tailor its marketing and product offerings to meet their needs.
2. Product Development:
- Develop innovative ice products: TGI should invest in product development to create innovative ice products tailored to specific customer needs, such as flavored ice, specialized ice for cocktails, and ice sculptures.
- Leverage technology: TGI should explore the use of technology to enhance its ice production processes and create new product offerings, such as ice made with infused water or ice with unique shapes and designs.
3. Digital Transformation:
- Build a strong online presence: TGI should develop a user-friendly website and active social media presence to enhance its brand image, build customer loyalty, and optimize its operations.
- Implement e-commerce: TGI should consider offering online ordering and delivery services to reach a wider customer base and improve convenience.
- Leverage data analytics: TGI should utilize data analytics to understand customer preferences, optimize production processes, and improve marketing campaigns.
4. Strategic Alliances:
- Partner with food and beverage companies: TGI should build strategic alliances with key players in the food and beverage industry to expand its reach and create new revenue streams. This could involve co-branding products, developing joint marketing campaigns, or providing customized ice solutions for specific restaurant chains.
- Explore partnerships with technology companies: TGI should consider partnering with technology companies to develop innovative ice solutions, such as smart ice dispensers that can track inventory and optimize delivery schedules.
5. Environmental Sustainability:
- Implement sustainable practices: TGI should implement sustainable practices across its operations, including water conservation, energy efficiency, and waste reduction.
- Promote its sustainability efforts: TGI should communicate its sustainability efforts to customers through its website, social media, and packaging to attract environmentally conscious consumers and enhance its brand image.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of TGI's strengths, weaknesses, opportunities, and threats, as well as the competitive landscape and the evolving needs of the ice industry. They are consistent with TGI's mission to provide high-quality ice products while also embracing innovation and sustainability.
The recommendations are also aligned with TGI's core competencies, such as its expertise in ice production and its strong customer relationships. They are designed to address the challenges posed by the changing market landscape, including the increasing competition, the growing popularity of alternative cooling methods, and the increasing demand for sustainable practices.
6. Conclusion
By adopting a multi-pronged strategy that leverages its existing strengths while embracing disruptive innovation, TGI can secure a sustainable competitive advantage in the evolving ice industry. This strategy will involve expanding into new markets, diversifying product offerings, embracing digital transformation, building strategic alliances, and prioritizing environmental sustainability. By taking these steps, TGI can position itself for long-term growth and success.
7. Discussion
Alternative Options:
- Mergers and Acquisitions: TGI could consider merging with or acquiring another ice producer to expand its market reach and gain access to new technologies. However, this option carries significant risks, including integration challenges and potential cultural clashes.
- Outsourcing: TGI could outsource some of its operations, such as production or distribution, to reduce costs and focus on its core competencies. However, this could lead to a loss of control and potential quality issues.
Risks and Key Assumptions:
- Market acceptance: There is a risk that consumers may not be receptive to TGI's new products or services.
- Competition: TGI will face ongoing competition from existing and new players in the ice industry.
- Technology adoption: TGI's success in implementing digital transformation will depend on its ability to adapt to rapidly evolving technologies.
- Financial resources: TGI will need sufficient financial resources to implement its growth strategy.
8. Next Steps
Timeline:
- Year 1: Develop a comprehensive strategic plan, conduct market research, and develop a pilot program for new product offerings.
- Year 2: Implement digital transformation initiatives, establish partnerships with food and beverage companies, and launch new products in selected markets.
- Year 3: Expand into new markets, optimize operations, and build a sustainable business model.
Key Milestones:
- Develop a detailed marketing plan for each target market.
- Secure funding for product development and market expansion.
- Hire key personnel with expertise in digital marketing, product development, and international business.
- Establish a strong corporate governance structure to oversee the implementation of the strategic plan.
By taking these steps, TGI can navigate the challenges of the evolving ice industry and create a sustainable future for its business.
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Case Description
Top Glaciers Inc. (TG) is a Montreal-based company that emerged in early 2017 from the merger of four Quebec-based ice cream and sorbet companies - Bilboquet, Solo Fruit, Hudson, and Lambert. TG operates in the high-end "artisanal" ice cream and frozen dessert segment. Part A of the case is decisional: it asks students to conduct a business assessment of the company in June 2020 to determine TG's strategy and priorities. Part B is short. It looks at the company's evolution since the end of Part A.
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