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Product cover image for Herend Porcelain Manufactory: Designing Strategy in a COVID-19 World

Herend Porcelain Manufactory: Designing Strategy in a COVID-19 World

Elias Goletsas, Anass Karzazi, Pardeep Singh Attri, Yusaf Akbar

Product #:W27119
Supplier:Ivey
Discipline:Strategy
Setting:Hungary, 2020
Details:Case (PDF) • 10 pages • 2022-05-04

Subjects:

Crisis managementBusiness managementEntrepreneurial business strategyCovidEntrepreneurshipHealth and wellnessStrategy

Industries:

Fabrication and manufacturing

Geography:

EuropeHungary
Your Price:$10.54

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Herend Porcelain Manufactory Ltd. (Herend) was an almost 200-year-old porcelain manufactory located in western Hungary. The company had weathered multiple social and political changes, world wars, and hardships and had variably experienced prosperity, international recognition, and, on one occasion, bankruptcy. However, under the current chief executive officer, Herend had become a stable and profitable organization. Then, in March 2020, the COVID-19 pandemic created unprecedented challenges. Government-mandated lockdowns—an attempt to contain the spread of COVID-19—restricted consumers from shopping in person at Herend’s shops and diminished the use of porcelain in hospitality and gastronomy where the porcelain sets would be used. The health safety of employees, production disruptions, and decline in orders were other concerns. How could Herend prepare for and survive this extraordinary challenge?

Learning Objectives

This case can be used in undergraduate- and graduate-level courses or modules dealing with strategic management, crisis management, entrepreneurship, or leadership. After working through the case and assignment questions, students will be able to do the following:
  • Identify categories of business uncertainty and their associated risks.
  • Recognize the challenges and opportunities that the COVID-19 pandemic posed for the luxury products market.
  • Use quantitative and qualitative methods to evaluate business uncertainty.
  • Understand the strategy under uncertainty (SUU) framework.
  • Design a strategy decision tree based on SUU.
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Case Study: Herend Porcelain Manufactory: Designing Strategy in a COVID-19 World (English version) | Ivey Publishing