asper school of business wework - mbacasecomp.com€¦ · long term strategy wework vision. wework...
TRANSCRIPT
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WEWORKAsper School of BusinessConnect Consulting
Jeremiah KoppArly AkerstreamMatt SchaubroeckDevin McManus
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KEY ISSUE
In what ways should WeWorkextend product offerings as a mission driven company?
Analysis Alternatives Implementation Financials
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RECOMMENDATION
Grow WeWork`s global brand offerings and market
opportunity
Analysis Alternatives Implementation Financials
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RECOMMENDATION
Grow WeWork`s global brand offerings and market
opportunity
Strategic Goals
Expand service offerings and
delivery
Proliferate and penetrate new
markets
Analysis Alternatives Implementation Financials
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VALUE PROPOSITION
Connecting the WeGeneration
Attractive working and
living
Community
Group Services
Affordability
Analysis Alternatives Implementation Financials
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WEWORK VALUES Inspired
Entrepreneurial
TenaciousGrateful
Together
Authentic
Analysis Alternatives Implementation Financials
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WEWORK VALUES Inspired
Entrepreneurial
TenaciousGrateful
Together
Authentic
Mission“Create a world
where people work to make a life, not
just a living”
VisionAnticipate and
embrace work, live, play paradigm
shift
Analysis Alternatives Implementation Financials
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BUILDING COMMUNITY
Physical infrastructure Technology Human
interaction Empowerment
Analysis Alternatives Implementation Financials
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BUILDING COMMUNITY
`You can`t just hear about it, you have to feel it`
Analysis Alternatives Implementation Financials
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PRODUCT AND SERVICE OFFERINGSPlatform for
Workplace, Community, and Service
0
2000
4000
6000
8000
10000
12000
WeWork Market Value
WeWork vs Market Value
WeWork vs Market Value
-group work-health insurance-lower pricing-source vendors faster-hiring and retention-reduced fees
Analysis Alternatives Implementation Financials
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MARKET OPPORTUNITY
0
50000
100000
150000
200000
250000
300000
350000
400000
2009 2014 2016 2018
Membership
Membership
$16. 5 billion
valutation
$1.2 billion in revenue
Number of Stores: 15 42 112 370
Analysis Alternatives Implementation Financials
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CONSUMER PROFILE Gender: male and female
Age: 18-35, millenials
Location: dense, urban centers
Targets: NGOs, small businesses, professionals, enterprise
Interests: Searching for community
Analysis Alternatives Implementation Financials
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ENVIRONMENTAL ANALYSISStrengths:
-brand and identity leader-month to month flexibility
-low barriers to entry-vision and disruption
-increase communal interaction through additional service offerings
-expand into markets internationally-convert consumers to embrace communal living
Concerns:-trend dependent-CEO dependent -non proprietary
-unpredictable revenue streams
Threats:-economic and political changes to trends-shift in market trends and preferences
-local competitors-executive health and wellness
Analysis Alternatives Implementation Financials
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LONG TERM STRATEGY
WeWorkVision
WeWork WeLive WeCommunity WeWorld
Analysis Alternatives Implementation Financials
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ALTERNATIVES
Acquire office retail space company
Short-term stay concept
Grow WeWork’s global brand offerings and market
Analysis Alternatives Implementation Financials
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ALTERNATIVE 1: ACQUIRE OFFICE RETAIL SPACE COMPANY
Become market leader through
purchasing competitive
companies, such as Regus
Strengths Weaknesses
Analysis Alternatives Implementation Financials
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ALTERNATIVE 2: SHORT-TERM STAY CONCEPT
Create hotel concept that
includes rooms for short-term stay with WeWork
conference and office amenities
Strengths Weaknesses
Analysis Alternatives Implementation Financials
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ALTERNATIVE 3: GROW WEWORK’S GLOBAL BRAND OFFERINGS AND MARKET
Expand service delivery of WeWork and WeLive
Penetrate new regional and demographic markets
Strengths Weaknesses
Analysis Alternatives Implementation Financials
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Idea advances mission and cultures• Embodiment of learning mindset
Market opportunity• Expand beyond millennials, startups, polished professionals
Competitive advantage• Community-focused, people-oriented, accessibility
Strategic value• Enhances focus on creating community while remaining financially stable
DECISION CRITERIA
Analysis Alternatives Implementation Financials
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ANALYSIS OF ALTERNATIVESAlternative 1: Acquire
Alternative 2: Short-term stay
Alternative 3: Global offerings
Advances mission and culture
Market opportunity
Competitive advantage
Strategic value
Analysis Alternatives Implementation Financials
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RECOMMENDATION
Grow WeWork`s global brand offerings and market
opportunity
Analysis Alternatives Implementation Financials
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TWO GROWTH OPPORTUNITIES
Expand and enhance current brand
offerings
WeWorkmodel WeLive
Penetrate new markets
New regions New demographics
Analysis Alternatives Implementation Financials
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BUILD ON WEWORK`S BRAND SUCCESS
• WeTravel: member offices in airports worldwide• Snacks, coffee, couches
Enhance global resource access
• Expand WeWork app to provide additional resources and services
Expanded virtual
resources
Analysis Alternatives Implementation Financials
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THE NEW WEWORK APP
• Facetime meeting capacity• Include member bios – mirror
LinkedIn• Mentorship opportunities
Virtual meeting platform
• `Members-only kijiji`• Sharing/selling/renting platform
Online community
sharing platform
Analysis Alternatives Implementation Financials
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NEW WEWORK RENTAL OPPORTUNITIES
Musicians
• Practice space
• Communal instruments
• Instrument storage
Events
• Rent out available event and meeting rooms by the hour
Corporate
• Fee discounts for member-enterprise companies
Analysis Alternatives Implementation Financials
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BUILD ON THE WELIVE MODEL
• Access for travelling WeWork members• Community alternative to business hotels
Short-term accomodation
• Community gardens• Meditation rooms• Car share and bike share services
Enhanced living space
• Demonstrate ‘apples to apples’ comparison vs. traditional apartment living
Online value calculator
Analysis Alternatives Implementation Financials
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Office and apartment in same building
Enhanced community model in single space
Integrates company values
AMALGAMATE WEWORK AND WELIVE
Analysis Alternatives Implementation Financials
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EXPANSION INTO NEW DEMOGRAPHICS
Young families
• Group environment for children
• Parental support• Daycare
opportunity
Immigrant families
• First residence in new country
• Maintains communal cultural norms
Senior communities
• Communal model a healthy lifestyle
• Lower cost than alternatives
Analysis Alternatives Implementation Financials
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EXPANDING INTO NEW REGIONS
WeWork
Major urban centres
worldwide
Entrepreneurial communities
Young/immigrant families
North America large urban
centres
Areas with high immigration
Senior communities
Japan
Florida
Panama
Analysis Alternatives Implementation Financials
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HR TALENT AND RECRUITMENT STRATEGY
Maintain young staff, cultural fit
Local talent to local network
Develop and mentor
Company culture
paramount
Analysis Alternatives Implementation Financials
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MARKETING
Maintain word-of-mouth marketing
Direct outreach
to universities
Possible government
contracts
Analysis Alternatives Implementation Financials
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EXPORT THE ‘WEOS’ BUSINESS MODEL
Proprietary business model a
key asset
Act as consultant in merchant
development
Provide template for real estate
renovation
Analysis Alternatives Implementation Financials
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TIMELINE
Analysis Alternatives Implementation Financials
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INVESTMENTS
Analysis Alternatives Implementation Financials
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PROFITABILITY
Analysis Alternatives Implementation Financials
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SCENARIO
Analysis Alternatives Implementation Financials
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RISK MITIGATION
Analysis Alternatives Implementation Financials
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KPIS
Analysis Alternatives Implementation Financials
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CONCLUSION
Grow WeWork`s global brand offerings and market
opportunity
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APP 1
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APP 2
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APP 3