Harvard Case - WillowTree: Project Driven with a Product Mindset
"WillowTree: Project Driven with a Product Mindset" Harvard business case study is written by Ryan Nelson, Ryan Wright. It deals with the challenges in the field of Strategy. The case study is 13 page(s) long and it was first published on : Oct 2, 2020
At Fern Fort University, we recommend WillowTree adopt a hybrid strategy that leverages its core competencies in project-based work while simultaneously developing a robust product-focused approach. This strategy aims to capitalize on the existing strengths of WillowTree while mitigating the risks associated with solely relying on a project-driven model.
2. Background
WillowTree is a successful mobile application development company known for its project-based approach and high-quality work. However, the company faces challenges in scaling its business and achieving sustainable growth. The case study highlights the need for a product-focused strategy to diversify revenue streams, create recurring income, and enhance long-term profitability.
The main protagonists of the case study are:
- Jeff Glueck, CEO of WillowTree, who recognizes the need for change and is open to exploring new avenues for growth.
- The WillowTree team, who are skilled developers and designers but may require training and support to adapt to a product-focused approach.
- Clients, who are primarily large enterprises seeking custom mobile app development services.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong reputation and brand: WillowTree has established a strong reputation for delivering high-quality mobile app development services.
- Experienced team: The company boasts a team of skilled developers and designers with extensive expertise in mobile app development.
- Strong client relationships: WillowTree has built strong relationships with large enterprise clients, providing a solid foundation for future growth.
Weaknesses:
- Project-based model: The project-based model is susceptible to cyclical revenue and can be resource-intensive.
- Limited product portfolio: WillowTree lacks a diversified product portfolio, which limits its ability to generate recurring revenue.
- Scaling challenges: The company faces challenges in scaling its operations to meet growing demand.
Opportunities:
- Emerging markets: The mobile app market is expanding rapidly, particularly in emerging markets, presenting opportunities for WillowTree to expand its reach.
- Product development: Developing and launching its own products can create new revenue streams and enhance brand recognition.
- Strategic alliances: Partnering with other technology companies can expand WillowTree's capabilities and reach new markets.
Threats:
- Competition: The mobile app development industry is highly competitive, with numerous players vying for market share.
- Technological advancements: Rapid technological advancements can quickly render existing products obsolete, requiring continuous innovation.
- Economic uncertainty: Economic downturns can impact client spending, potentially affecting WillowTree's revenue.
Porter's Five Forces Analysis:
- Threat of new entrants: High barriers to entry due to the need for specialized skills and expertise.
- Bargaining power of buyers: Moderate, as clients have options but value WillowTree's expertise.
- Bargaining power of suppliers: Low, as the company utilizes readily available technology and resources.
- Threat of substitute products: High, as alternative solutions like web apps and other digital platforms exist.
- Rivalry among existing competitors: High, due to the presence of numerous players and rapid innovation.
Value Chain Analysis:
WillowTree's value chain consists of:
- Inbound Logistics: Sourcing talent, technology, and resources for development.
- Operations: Developing and designing mobile applications.
- Outbound Logistics: Delivering completed applications to clients.
- Marketing and Sales: Generating leads and securing new clients.
- Service: Providing ongoing support and maintenance for applications.
Business Model Innovation:
WillowTree can explore business model innovation by:
- Developing SaaS products: Launching subscription-based mobile applications that offer ongoing value to users.
- Creating white-label solutions: Offering pre-built mobile app solutions that can be customized for specific clients.
- Expanding into new markets: Targeting new industries and geographic regions to diversify its customer base.
Corporate Governance:
WillowTree should strengthen its corporate governance by:
- Establishing clear roles and responsibilities: Defining clear roles and responsibilities for key stakeholders, including management, employees, and investors.
- Implementing ethical guidelines: Establishing a code of ethics and ensuring compliance with industry regulations.
- Improving transparency and accountability: Providing regular updates to stakeholders on the company's performance and future plans.
4. Recommendations
1. Develop a Product-Focused Strategy:
- Identify target markets: Conduct thorough market research to identify specific industries and user segments with high demand for mobile apps.
- Develop a product roadmap: Define a clear product roadmap outlining the development and launch of new mobile applications.
- Invest in product development: Allocate resources to build a dedicated product development team with expertise in user experience, design, and technology.
2. Leverage Existing Strengths:
- Capitalize on client relationships: Utilize existing client relationships to pilot test new products and gather valuable feedback.
- Leverage expertise: Leverage the company's expertise in mobile app development to create high-quality products that meet user needs.
- Build a strong brand: Continue to invest in brand building activities to enhance recognition and attract new customers.
3. Explore Strategic Alliances:
- Partner with technology companies: Collaborate with technology companies to integrate their solutions into WillowTree's products.
- Form strategic alliances: Partner with complementary businesses to expand market reach and access new resources.
- Explore mergers and acquisitions: Consider acquiring smaller companies with specialized skills or existing products.
4. Implement a Digital Transformation Strategy:
- Embrace digital marketing: Utilize digital marketing channels to reach new customers and promote products.
- Leverage data analytics: Utilize data analytics to understand user behavior and optimize product development.
- Embrace automation: Implement automation tools to streamline processes and improve efficiency.
5. Foster a Culture of Innovation:
- Encourage experimentation: Create a culture that encourages experimentation and learning from failures.
- Invest in employee development: Provide training and development opportunities to enhance employee skills and knowledge.
- Reward innovation: Recognize and reward employees who contribute to innovation and product development.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of WillowTree's strengths, weaknesses, opportunities, and threats. They consider:
- Core competencies and consistency with mission: The recommendations leverage WillowTree's core competencies in mobile app development while aligning with its mission to create innovative and impactful solutions.
- External customers and internal clients: The recommendations address the needs of external customers by developing products that meet their requirements and internal clients by creating a more sustainable and scalable business model.
- Competitors: The recommendations aim to differentiate WillowTree from competitors by focusing on product development, strategic alliances, and digital transformation.
- Attractiveness - quantitative measures: The recommendations are expected to increase revenue, profitability, and long-term growth.
6. Conclusion
WillowTree has a strong foundation for success, but it needs to adapt to the evolving mobile app market. By adopting a hybrid strategy that combines project-based work with a product-focused approach, the company can capitalize on its existing strengths, diversify revenue streams, and achieve sustainable growth.
7. Discussion
Alternatives:
- Focusing solely on project-based work: This approach would maintain the current business model but could limit growth potential and expose the company to cyclical revenue.
- Acquiring an existing product company: This option could provide immediate access to a product portfolio but would require significant investment and integration challenges.
Risks and Key Assumptions:
- Market demand: The success of the product-focused strategy depends on the demand for the developed products.
- Competition: The company needs to be aware of competitors and their strategies.
- Technological advancements: The rapid pace of technological advancements could require ongoing product development and adaptation.
8. Next Steps
- Develop a detailed product roadmap: Define specific products, target markets, and launch timelines.
- Allocate resources: Allocate resources to product development, marketing, and sales.
- Establish key performance indicators: Define key performance indicators to track progress and measure success.
- Monitor and adapt: Continuously monitor market trends and competitor activities and adapt the strategy as needed.
By implementing these recommendations, WillowTree can transform its business model, achieve sustainable growth, and solidify its position as a leader in the mobile app development industry.
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Case Description
WillowTree began as a small digital products company in 2007. By 2020, it had more than 500 full-time team members operating out of offices in four locations, and it had launched hundreds of digital products, including mobile apps, websites, voice assistants, and TV experiences. But also in 2020, WillowTree was facing the most significant challenge in its 12 years of corporate existence-a global pandemic. By analyzing how WillowTree blends project and product management, students will gain insights into how a digital products services company integrates a product mindset within contract-based projects, and get the opportunity to brainstorm how WillowTree can further adapt to provide a unique value proposition during the pandemic and beyond.
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