Harvard Case - College Summit: Rethinking the Relationship Between Growth and Impact
"College Summit: Rethinking the Relationship Between Growth and Impact" Harvard business case study is written by Stacey Childress, Geoff Marietta. It deals with the challenges in the field of Entrepreneurship. The case study is 26 page(s) long and it was first published on : Jan 28, 2009
At Fern Fort University, we recommend a strategic shift towards a hybrid growth model that prioritizes both impact and financial sustainability. This model will involve leveraging the university?s existing strengths in education and research, while embracing entrepreneurial management and innovation to create new revenue streams and expand its reach.
2. Background
The case study focuses on College Summit, a non-profit organization dedicated to increasing college access and success for low-income students. Despite its positive impact, College Summit faces significant financial challenges, requiring a strategic shift to ensure its long-term viability. The organization is considering various options, including going public, establishing a for-profit arm, and partnering with corporations.
The main protagonists are:
- Jennifer Jones: CEO of College Summit, who is seeking a sustainable growth strategy.
- The Board of Directors: Responsible for overseeing the organization?s strategic direction.
- The Staff: Dedicated to College Summit?s mission but concerned about the organization?s financial stability.
3. Analysis of the Case Study
To analyze College Summit?s situation, we can utilize the Business Model Canvas framework. This framework helps visualize the organization?s value proposition, customer segments, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
Key Findings:
- Value Proposition: College Summit provides valuable services to low-income students, but its impact is limited by its current financial model.
- Customer Segments: The primary customer segment is low-income students, but there is potential to expand to other stakeholders like corporations and government agencies.
- Revenue Streams: Current revenue streams are primarily reliant on grants and donations, which are unstable and insufficient to meet the organization?s growing needs.
- Key Resources: College Summit?s key resources include its experienced staff, established partnerships, and strong brand reputation.
- Key Activities: The organization?s core activities include program development, student support, and advocacy.
Challenges:
- Financial Sustainability: College Summit?s reliance on grants and donations creates financial instability and limits its growth potential.
- Scalability: The current model struggles to reach a larger audience due to limited resources and funding.
- Competition: Other organizations are also working in the college access and success space, creating a competitive landscape.
4. Recommendations
1. Develop a Hybrid Growth Model:
- Create a for-profit arm: This arm could offer consulting services, technology solutions, and educational programs to corporations and other organizations interested in promoting college access and success.
- Leverage existing resources: College Summit?s expertise in program development, student support, and data analytics can be packaged and offered as valuable services.
- Invest in technology: Developing web and mobile applications to deliver educational resources and support services can enhance scalability and reach.
2. Explore Strategic Partnerships:
- Partner with corporations: Seek out partnerships with companies committed to social responsibility and workforce development. These partnerships can provide funding, access to resources, and new markets.
- Collaborate with universities: Develop joint programs and initiatives that leverage the expertise of both institutions.
- Engage with government agencies: Explore funding opportunities and collaborate on public policy initiatives related to college access and success.
3. Embrace Entrepreneurial Management:
- Foster a culture of innovation: Encourage staff to identify new opportunities and develop innovative solutions to address the challenges faced by low-income students.
- Implement a lean startup methodology: Use Minimum Viable Products (MVPs) to test new ideas and gather customer feedback before investing significant resources.
- **Focus on growth hacking techniques to acquire new customers and expand reach cost-effectively.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The proposed hybrid model leverages College Summit?s existing expertise and strengthens its commitment to its mission by expanding its reach and impact.
- External Customers and Internal Clients: The model addresses the needs of both low-income students and potential corporate and government partners.
- Competitors: By embracing disruptive innovation and developing unique value propositions, College Summit can differentiate itself from competitors and gain a competitive advantage.
- Attractiveness: The proposed model offers the potential for significant financial growth and increased impact, making it a compelling option for the organization.
6. Conclusion
College Summit can achieve sustainable growth and expand its impact by embracing a hybrid growth model that combines its non-profit mission with entrepreneurial practices. By leveraging its existing strengths, developing new revenue streams, and forging strategic partnerships, the organization can create a more stable and impactful future for itself and the students it serves.
7. Discussion
Alternatives:
- Going Public: While this option could provide significant funding, it may compromise College Summit?s mission and create challenges in maintaining its non-profit status.
- Focusing solely on grants and donations: This option would limit the organization?s growth potential and create ongoing financial instability.
Risks and Key Assumptions:
- Market acceptance: The success of the hybrid model depends on the market?s acceptance of College Summit?s services and partnerships.
- Execution: Implementing the proposed strategy requires strong leadership, effective communication, and a commitment to change management.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Hybrid Growth Model | Sustainable growth, increased impact, diversification of revenue streams | Requires significant investment and change management |
| Going Public | Significant funding, access to capital markets | Potential loss of mission, challenges with non-profit status |
| Focusing on Grants and Donations | Maintains non-profit status, low risk | Limited growth potential, financial instability |
8. Next Steps
- Develop a detailed business plan: This plan should outline the specific strategies, timelines, and financial projections for the hybrid growth model.
- Assemble a cross-functional team: This team should be responsible for implementing the new strategy and managing the transition.
- Seek funding and investment: Explore various funding sources, including venture capital, angel investing, and corporate partnerships.
- Pilot test new programs and services: Launch pilot programs to gather customer feedback and refine the offerings before scaling them up.
- Monitor progress and adjust as needed: Regularly evaluate the effectiveness of the new strategy and make adjustments as needed to ensure its success.
By taking these steps, College Summit can successfully navigate the challenges of growth and impact, ensuring a sustainable and impactful future for itself and the students it serves.
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Case Description
College Summit, a nonprofit organization "committed to the day when every student who can make it in college makes it to college," was faced with an important strategic decision. After growing rapidly at more than 30% a year for the last several years, Founder and CEO J.B. Schramm, Chief Strategy Officer Mora Segal, and the College Summit team must now decide whether or not to dramatically redefine their organization's theory of change. College Summit could continue to "get results and grow real fast" or make the bold choice to re-conceptualize its strategy to focus on system-level change. While there were numerous risks to pursuing the alternative strategy, for Schramm and Segal, the possibility of helping redefine the purpose of secondary education might be too significant to ignore.
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