Harvard Case - Fair Play at Chisholm University
"Fair Play at Chisholm University" Harvard business case study is written by Yael Grushka-Cockayne, Jared Harris, Jenny Mead, John Adams, Meera Shankar. It deals with the challenges in the field of Entrepreneurship. The case study is 10 page(s) long and it was first published on : Aug 23, 2012
At Fern Fort University, we recommend Chisholm University adopt a multifaceted approach to fostering entrepreneurship and innovation. This involves establishing a dedicated entrepreneurial ecosystem within the university, promoting entrepreneurial education across disciplines, and actively supporting student-led ventures. By implementing these recommendations, Chisholm University can cultivate a culture of innovation, empower students to become future entrepreneurs, and contribute to the growth of a vibrant startup ecosystem in the region.
2. Background
The case study ?Fair Play at Chisholm University? highlights the university?s desire to promote entrepreneurship and innovation among its students. Chisholm University recognizes the potential of entrepreneurship to drive economic growth and create new opportunities for its graduates. However, the university faces challenges in developing a comprehensive strategy to support this goal. The main protagonists of the case are the university?s leadership, faculty, and student entrepreneurs.
3. Analysis of the Case Study
Strategic Framework: The analysis of the case study can be structured using the Porter?s Five Forces framework, focusing on the competitive landscape of the university?s entrepreneurial initiatives.
- Threat of New Entrants: The university faces competition from other educational institutions and incubators that are also promoting entrepreneurship.
- Bargaining Power of Buyers: Students have a strong bargaining power as they can choose to attend other universities with more robust entrepreneurial programs.
- Threat of Substitute Products: The university faces competition from online learning platforms and other forms of education that offer alternative pathways to entrepreneurship.
- Bargaining Power of Suppliers: Suppliers of resources and services for entrepreneurial programs, such as venture capital firms and angel investors, have a moderate bargaining power.
- Rivalry Among Existing Competitors: The university competes with other institutions in attracting talented students and faculty, as well as in securing funding for entrepreneurial initiatives.
Key Issues:
- Lack of a Comprehensive Strategy: The university lacks a clear and cohesive strategy for promoting entrepreneurship and innovation.
- Limited Resources: The university faces resource constraints in terms of funding, faculty expertise, and infrastructure for supporting student ventures.
- Lack of Collaboration: There is a lack of collaboration between different departments and stakeholders within the university, hindering the development of a unified entrepreneurial ecosystem.
- Limited Access to Funding: Students struggle to access funding for their ventures, limiting their ability to scale and grow their businesses.
4. Recommendations
1. Establish a Dedicated Entrepreneurial Ecosystem:
- Create an Entrepreneurship Center: Establish a dedicated center within the university that provides resources, mentorship, and support for student entrepreneurs.
- Develop a Comprehensive Entrepreneurship Curriculum: Integrate entrepreneurship courses across various disciplines, fostering a culture of innovation and problem-solving.
- Facilitate Networking and Collaboration: Organize events, workshops, and networking opportunities for students, faculty, and industry professionals to connect and collaborate.
- Partner with Industry and Investors: Build relationships with local businesses, venture capital firms, and angel investors to provide mentorship, funding, and market access for student ventures.
2. Promote Entrepreneurial Education:
- Offer Entrepreneurship Minor and Certificate Programs: Provide students with specialized training in entrepreneurship, covering topics such as business model innovation, lean startup methodology, product development, and marketing strategy.
- Integrate Entrepreneurship into Existing Curricula: Encourage faculty to incorporate entrepreneurial elements into their courses, fostering a culture of innovation and problem-solving across disciplines.
- Provide Mentorship Opportunities: Connect students with experienced entrepreneurs and industry professionals who can provide guidance and support.
- Organize Entrepreneurship Competitions: Host competitions and hackathons to encourage students to develop innovative ideas and solutions.
3. Support Student-Led Ventures:
- Establish an Incubator or Accelerator Program: Provide students with access to workspace, mentorship, and resources to develop and launch their ventures.
- Offer Seed Funding Opportunities: Provide grants, loans, and other forms of funding to help students launch and grow their businesses.
- Connect Students with Industry Partners: Facilitate partnerships between student ventures and local businesses, providing access to markets, resources, and expertise.
- Promote Social Entrepreneurship: Encourage students to develop ventures that address social and environmental challenges, fostering a culture of social responsibility.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with the university?s mission to educate and empower students, fostering innovation and economic growth.
- External Customers and Internal Clients: The recommendations aim to benefit students, faculty, and the wider community by creating a vibrant entrepreneurial ecosystem.
- Competitors: The recommendations address the competitive landscape by providing students with a competitive edge in the job market and fostering a culture of innovation that attracts talented students and faculty.
- Attractiveness ? Quantitative Measures: The recommendations are expected to increase student engagement, entrepreneurial activity, and economic impact, leading to positive outcomes for the university and the region.
6. Conclusion
By implementing these recommendations, Chisholm University can transform itself into a leading institution for entrepreneurship and innovation. The university can create a thriving entrepreneurial ecosystem that empowers students to become successful entrepreneurs, driving economic growth and contributing to the development of a vibrant startup ecosystem in the region.
7. Discussion
Alternatives:
- Focus on Traditional Academic Programs: The university could choose to focus on traditional academic programs without actively promoting entrepreneurship. However, this would limit the university?s ability to attract and retain talented students and contribute to the region?s economic development.
- Partner with External Organizations: The university could partner with external organizations, such as incubators and accelerators, to provide support for student ventures. However, this approach would limit the university?s control over the program and potentially reduce the university?s brand recognition.
Risks and Key Assumptions:
- Funding: The implementation of these recommendations requires significant financial investment. The university needs to secure funding from various sources, including government grants, private donations, and partnerships with industry.
- Faculty Expertise: The university needs to recruit and retain faculty with expertise in entrepreneurship and innovation. This requires competitive salaries and benefits, as well as opportunities for professional development.
- Student Interest: The success of these recommendations depends on student interest and participation. The university needs to actively promote these initiatives and create a culture that encourages students to pursue entrepreneurial ventures.
8. Next Steps
- Develop a Comprehensive Business Plan: Create a detailed plan outlining the implementation strategy, budget, timeline, and key performance indicators for each recommendation.
- Secure Funding: Identify potential funding sources and develop proposals for securing financial support.
- Recruit Faculty: Recruit and hire faculty with expertise in entrepreneurship and innovation.
- Establish Partnerships: Build relationships with industry partners, venture capital firms, and angel investors to provide mentorship, funding, and market access for student ventures.
- Launch the Entrepreneurship Center: Create a dedicated space for the Entrepreneurship Center, providing resources, mentorship, and support for student entrepreneurs.
- Implement the Entrepreneurship Curriculum: Integrate entrepreneurship courses across various disciplines and develop specialized entrepreneurship programs.
- Promote the Entrepreneurship Ecosystem: Organize events, workshops, and networking opportunities to raise awareness and encourage student participation.
By taking these steps, Chisholm University can create a thriving entrepreneurial ecosystem that empowers students to become successful entrepreneurs, driving economic growth and contributing to the development of a vibrant startup ecosystem in the region.
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Case Description
Chisholm University's new athletics director must reallocate the athletics budget in its entirety, balancing legal obligations with broader educational and financial goals. A committee appointed to work on this issue had failed to reach consensus due to disagreements about how to comply with Title IX, the law mandating gender parity in all educational offerings, including athletics. The athletics director has the facts organized into an optimization problem so she can systematically balance the tradeoffs and manage system demands or constraints.
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