Harvard Case - Flatiron School
"Flatiron School" Harvard business case study is written by Thomas R. Eisenmann, Halah AlQahtani. It deals with the challenges in the field of Entrepreneurship. The case study is 19 page(s) long and it was first published on : Jan 29, 2017
At Fern Fort University, we recommend that Flatiron School pursue a strategic growth plan focused on expanding its online offerings, diversifying its course catalog, and leveraging partnerships to reach a wider audience. This strategy will capitalize on the growing demand for online education, enhance Flatiron?s brand recognition, and solidify its position as a leading provider of tech skills training.
2. Background
Flatiron School, founded in 2012, is a leading coding bootcamp offering immersive, in-person programs in various tech fields. The company has experienced significant success, attracting a large pool of students seeking to transition into tech careers. However, the case study highlights challenges related to market saturation, competition from established universities, and the need to adapt to the evolving landscape of online learning.
The main protagonists of the case study are the founders and executives of Flatiron School, who are grappling with decisions related to growth strategy, business model innovation, and market expansion.
3. Analysis of the Case Study
The case study can be analyzed through the lens of several frameworks:
1. Porter?s Five Forces:
- Threat of New Entrants: High, due to the low barriers to entry in online education and the increasing number of bootcamps and online learning platforms.
- Bargaining Power of Buyers: Moderate, as students have multiple options for tech education and are price-sensitive.
- Bargaining Power of Suppliers: Low, as the main suppliers are technology platforms and instructors, who are readily available.
- Threat of Substitutes: High, as traditional universities and other online learning platforms offer alternative pathways to tech careers.
- Competitive Rivalry: High, due to the intense competition among bootcamps and online learning platforms.
2. SWOT Analysis:
- Strengths: Strong brand recognition, experienced instructors, proven curriculum, strong alumni network.
- Weaknesses: Limited online offerings, reliance on in-person programs, potential for market saturation.
- Opportunities: Expanding online offerings, diversifying course catalog, leveraging partnerships, entering new markets.
- Threats: Increasing competition, changing student preferences, evolving technology landscape.
3. Business Model Canvas:
- Value Propositions: Immersive learning experience, career support services, industry-relevant curriculum, flexible learning options.
- Customer Segments: Aspiring tech professionals, career changers, individuals seeking upskilling.
- Channels: Online marketing, partnerships with universities and companies, student referrals.
- Customer Relationships: Personalized support, career coaching, alumni network.
- Revenue Streams: Tuition fees, corporate training programs, partnerships with employers.
- Key Activities: Curriculum development, instructor training, student support, marketing and outreach.
- Key Resources: Instructors, technology platforms, learning materials, brand reputation.
- Key Partnerships: Universities, employers, technology providers.
- Cost Structure: Instructor salaries, technology costs, marketing expenses, administrative costs.
4. Recommendations
1. Expand Online Offerings:
- Develop a comprehensive suite of online courses covering a wide range of tech skills, including data science, cybersecurity, and software development.
- Leverage existing online learning platforms and technologies to create engaging and interactive learning experiences.
- Offer flexible learning options, including self-paced courses, live online classes, and blended learning programs.
2. Diversify Course Catalog:
- Introduce new courses and programs in emerging tech fields, such as artificial intelligence, machine learning, and blockchain.
- Partner with industry experts and leading technology companies to develop cutting-edge curriculum.
- Offer specialized tracks and certifications in specific tech roles, such as data analyst, software engineer, and cybersecurity specialist.
3. Leverage Partnerships:
- Collaborate with universities to offer joint programs and credit transfer options.
- Partner with employers to provide corporate training programs and job placement services.
- Establish strategic alliances with technology companies to gain access to industry insights and resources.
4. Enhance Marketing and Brand Awareness:
- Invest in targeted online marketing campaigns to reach potential students across various channels.
- Leverage social media platforms to build a strong online presence and engage with the tech community.
- Develop a compelling brand story that highlights Flatiron?s unique value proposition and differentiates it from competitors.
5. Embrace Technology and Analytics:
- Implement data-driven decision making to optimize course content, marketing strategies, and student experience.
- Utilize technology to personalize learning experiences and provide tailored support to students.
- Track key metrics to measure program effectiveness and identify areas for improvement.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of Flatiron School?s current position, the competitive landscape, and the evolving trends in online education. They align with the company?s core competencies, mission to empower individuals with tech skills, and the needs of its target audience.
The recommendations are also supported by quantitative measures:
- Increased market reach: Expanding online offerings will enable Flatiron to reach a wider audience beyond its current geographic limitations.
- Enhanced revenue streams: Diversifying the course catalog and leveraging partnerships will create new revenue opportunities.
- Improved student engagement: Utilizing technology and data analytics will enhance the learning experience and drive student satisfaction.
6. Conclusion
By embracing a strategic growth plan focused on online expansion, course diversification, and strategic partnerships, Flatiron School can solidify its position as a leading provider of tech skills training. This strategy will enable the company to capitalize on the growing demand for online education, enhance its brand recognition, and navigate the competitive landscape of the tech education market.
7. Discussion
Other alternatives not selected include:
- Acquiring a competitor: This could provide access to new markets and resources but could also be costly and risky.
- Focusing solely on in-person programs: This would limit Flatiron?s reach and expose it to increased competition from online providers.
- Maintaining the status quo: This would likely result in stagnation and a decline in market share.
The recommendations are based on the following key assumptions:
- Continued growth in demand for online education: This assumption is supported by industry trends and the increasing adoption of online learning.
- Ability to develop and deliver high-quality online courses: This assumption is based on Flatiron?s proven track record in curriculum development and its commitment to quality.
- Success in attracting and retaining students: This assumption is based on Flatiron?s strong brand reputation and its commitment to student success.
8. Next Steps
To implement these recommendations, Flatiron School should:
- Develop a detailed strategic plan: Define specific goals, timelines, and resources for each initiative.
- Invest in technology and infrastructure: Upgrade online learning platforms and build a robust data analytics system.
- Build a strong team: Recruit and develop talent with expertise in online education, marketing, and technology.
- Monitor progress and make adjustments: Track key metrics and adapt the strategy as needed based on market conditions and student feedback.
By taking these steps, Flatiron School can position itself for continued success in the evolving landscape of tech education.
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Case Description
In late 2016, the founders of Flatiron School, a startup offering 12-week coding bootcamps, are formulating their growth strategy. Their new online-only program has matched the excellent job placement results for their in-person bootcamps. Should Flatiron shift investment to aggressively expand online, or grow online and in-person bootcamps in tandem? Should they pursue opportunities to sell online programs to universities and corporations, in addition to their direct-to-consumer offer?
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