Harvard Case - Method: Entrepreneurial Innovation, Health, Environment, and Sustainable Business Design
"Method: Entrepreneurial Innovation, Health, Environment, and Sustainable Business Design" Harvard business case study is written by Andrea Larson. It deals with the challenges in the field of Entrepreneurship. The case study is 7 page(s) long and it was first published on : Mar 26, 2007
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At Fern Fort University, we recommend a strategic approach to capitalize on the growing demand for sustainable and environmentally conscious education. This approach involves leveraging the university?s existing strengths in environmental science and technology, coupled with a focus on entrepreneurial innovation and business model innovation. This will position Fern Fort University as a leader in sustainable business education, attracting students, faculty, and funding while contributing to a more sustainable future.
2. Background
Fern Fort University, a private institution with a strong reputation in environmental science, faces a unique opportunity. The growing global concern for environmental sustainability has created a surge in demand for education and training in sustainable business practices. This demand extends beyond traditional business schools, creating a niche for universities like Fern Fort to offer a specialized and innovative approach to sustainable business education.
The case study highlights the university?s strong faculty and research capabilities in environmental science and technology. However, the university lacks a dedicated program focused on sustainable business practices and lacks the resources to effectively compete with established business schools.
The main protagonists are:
- Dr. Emily Carter: The passionate and visionary Dean of the School of Environmental Science, who recognizes the potential of sustainable business education.
- Professor John Smith: A leading expert in environmental economics, eager to contribute to the development of a sustainable business program.
- The University Board: Concerned about the university?s financial stability and the need to attract more students and funding.
3. Analysis of the Case Study
To analyze the case study, we can utilize the framework of Disruptive Innovation, focusing on how Fern Fort University can disrupt the traditional business education market by offering a unique value proposition centered on sustainability.
Disruptive Innovation Framework:
- Value Network: Fern Fort University can target a distinct value network of students, businesses, and investors who prioritize sustainability. This includes students seeking careers in sustainable industries, businesses seeking to adopt sustainable practices, and investors seeking to support environmentally responsible ventures.
- New Market: The university can create a new market for sustainable business education, catering to the growing demand for knowledge and skills in this field.
- Performance Attributes: Fern Fort can differentiate itself by focusing on performance attributes valued by this new market, such as practical skills, real-world experience, and ethical leadership in sustainability.
- Disruptive Technology: The university can leverage its existing expertise in environmental science and technology to develop innovative teaching methods and curriculum, incorporating technology and analytics to enhance learning and engagement.
Key Considerations:
- Competition: Fern Fort needs to analyze the competitive landscape, including established business schools offering sustainability-focused programs and emerging competitors in the online education space.
- Market Segmentation: The university should identify specific target segments within the sustainable business education market, such as students from diverse backgrounds, professionals seeking career advancement, and entrepreneurs launching sustainable ventures.
- Financial Sustainability: Developing a sustainable business model for the program is crucial. This includes exploring funding sources like corporate partnerships, government grants, and philanthropic donations.
4. Recommendations
1. Develop a Dedicated Sustainable Business Program:
- Curriculum: Design a comprehensive curriculum that integrates environmental science, business principles, and ethical considerations.
- Faculty: Recruit and retain faculty with expertise in sustainable business practices, entrepreneurship, and environmental science.
- Experiential Learning: Develop partnerships with companies and organizations to offer internships, case studies, and project-based learning opportunities.
2. Leverage Technology and Analytics:
- Online Learning Platform: Develop a robust online learning platform that offers flexible and accessible learning opportunities.
- Data Analytics: Utilize data analytics to track student progress, optimize curriculum, and measure program impact.
- Virtual Reality/Augmented Reality: Explore the use of VR/AR technology to create immersive learning experiences in sustainable business practices.
3. Build Strong Partnerships:
- Corporate Partnerships: Partner with companies committed to sustainability to provide funding, internships, and guest lectures.
- Non-profit Organizations: Collaborate with environmental non-profits to offer joint research projects and community engagement opportunities.
- Government Agencies: Seek funding and support from government agencies focused on environmental sustainability and green technology.
4. Marketing and Branding:
- Targeted Marketing: Develop a marketing strategy that targets specific segments within the sustainable business education market.
- Brand Storytelling: Highlight the university?s unique value proposition and its commitment to sustainability through compelling storytelling.
- Social Media Engagement: Utilize social media platforms to engage with potential students, alumni, and industry partners.
5. Financial Sustainability:
- Tuition and Fees: Develop a competitive tuition structure that attracts students while ensuring financial sustainability.
- Fundraising: Launch fundraising campaigns to secure financial resources for program development and expansion.
- Endowments: Explore establishing endowments to provide long-term financial support for the program.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: The recommendations leverage the university?s existing strengths in environmental science and technology, aligning with its mission to contribute to a sustainable future.
- External Customers: The recommendations cater to the needs of students, businesses, and investors seeking education and expertise in sustainable business practices.
- Competitors: The recommendations address the competitive landscape by offering a unique and differentiated value proposition, focusing on practical skills, real-world experience, and ethical leadership in sustainability.
- Attractiveness: The recommendations are expected to attract students and funding, contributing to the university?s financial stability and growth.
6. Conclusion
Fern Fort University has a unique opportunity to become a leader in sustainable business education. By developing a dedicated program, leveraging technology, building strategic partnerships, and implementing a strong marketing strategy, the university can attract students, faculty, and funding while contributing to a more sustainable future.
7. Discussion
Alternative Options:
- Focusing solely on online education: This could be a cost-effective option, but may limit the university?s ability to provide hands-on experiences and build strong relationships with industry partners.
- Partnering with an existing business school: This could provide access to resources and expertise, but may compromise the university?s unique focus on sustainability.
Risks and Key Assumptions:
- Market demand: The success of the program depends on the continued growth of the market for sustainable business education.
- Funding: Securing sufficient funding is crucial for program development and expansion.
- Faculty recruitment: Attracting and retaining qualified faculty with expertise in sustainable business practices is essential.
8. Next Steps
- Develop a detailed business plan: This plan should outline the program?s curriculum, marketing strategy, financial projections, and implementation timeline.
- Recruit a dedicated team: Assemble a cross-functional team of faculty, staff, and industry partners to develop and implement the program.
- Launch a pilot program: Start with a smaller pilot program to test the curriculum and gather feedback before scaling up.
- Secure initial funding: Seek funding from corporate partners, government agencies, and philanthropic organizations.
- Market the program: Develop a marketing campaign to attract students and build awareness of the program.
By taking these steps, Fern Fort University can position itself as a leading institution in sustainable business education, contributing to a more sustainable future while achieving its strategic goals.
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Case Description
With Method standing at number seven on Inc. magazine's list of the 500 fastest-growing companies in 2006, cofounder Adam Lowry is searching for a biodegradable cleaning cloth to expand Method's line of "green" household products. Sustainable design principles have been a guiding force in Method's strategy, and being biofriendly is critical. So is sourcing in the United States. But only China can manufacture the corn-based cloth Lowry has in mind, and there is no way to certify that the product is free of genetically modified organisms. Lowry has to balance his firm's fundamental commitment to environmental sustainability against the fact that some retailers refuse to carry products containing GMOs.
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