Harvard Case - Balancing Act: Deborah Lovich (A)
"Balancing Act: Deborah Lovich (A)" Harvard business case study is written by David G. Fubini, Patrick Sanguineti. It deals with the challenges in the field of General Management. The case study is 12 page(s) long and it was first published on : Apr 30, 2021
At Fern Fort University, we recommend that Deborah Lovich, CEO of Fern Fort University, implement a comprehensive strategic plan to address the university's challenges and capitalize on emerging opportunities. This plan should encompass a multi-pronged approach focusing on strategic planning, organizational structure, leadership styles, decision-making processes, corporate governance, change management, performance evaluation, business ethics, stakeholder management, resource allocation, competitive advantage, innovation management, digital transformation, and corporate social responsibility.
2. Background
Fern Fort University is a private, non-profit institution facing significant challenges. Despite a strong reputation for academic excellence, the university is struggling with declining enrollment, increasing competition, and financial pressures. The case study highlights the need for Deborah Lovich, the newly appointed CEO, to navigate these complexities and chart a course for the university's future.
The main protagonists in this case study are:
- Deborah Lovich: The new CEO of Fern Fort University, tasked with leading the institution through a period of significant change.
- The Board of Trustees: The governing body of the university, responsible for setting strategic direction and oversight.
- Faculty and Staff: The individuals responsible for delivering the university's academic mission and supporting its operations.
- Students: The primary beneficiaries of the university's educational offerings and the driving force behind its future success.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths: Strong academic reputation, experienced faculty, dedicated staff, established alumni network.
- Weaknesses: Declining enrollment, limited resources, outdated infrastructure, lack of a clear strategic direction.
- Opportunities: Growing demand for online education, emerging technologies, potential for international student recruitment, partnerships with industry leaders.
- Threats: Increasing competition from other universities, rising costs of education, changing demographics, economic uncertainty.
Porter's Five Forces:
- Threat of New Entrants: Moderate, due to the high cost of establishing a new university, but online education platforms pose a potential threat.
- Bargaining Power of Buyers (Students): High, as students have numerous options for higher education and are increasingly price-sensitive.
- Bargaining Power of Suppliers (Faculty): Moderate, as faculty are in demand, but the university has some bargaining power due to its reputation.
- Threat of Substitute Products: Moderate, as online education and alternative learning pathways are becoming increasingly popular.
- Rivalry Among Existing Competitors: High, as universities compete for students, faculty, and resources.
Strategic Considerations:
- International Business: Fern Fort University has the potential to expand its reach by attracting international students and developing international partnerships.
- Corporate Strategy: The university needs to develop a clear strategic plan that aligns with its mission and addresses the challenges it faces.
- Innovation: Investing in innovative teaching methods, technology, and research is crucial to remain competitive.
- Corporate Social Responsibility: Demonstrating a commitment to sustainability, diversity, and community engagement can enhance the university's reputation and attract students and faculty.
4. Recommendations
Short-Term (1-2 Years):
- Develop a Comprehensive Strategic Plan: Conduct a thorough environmental scan, assess the university's strengths and weaknesses, identify key opportunities and threats, and develop a strategic plan that outlines the university's vision, mission, goals, and objectives.
- Improve Financial Management: Implement a robust financial planning process, analyze cost structures, explore revenue diversification strategies, and seek funding opportunities.
- Enhance Marketing and Recruitment: Develop a targeted marketing strategy to reach potential students, leverage digital platforms, and enhance outreach programs.
- Invest in Technology and Infrastructure: Upgrade technology infrastructure, invest in online learning platforms, and create a digital learning environment.
- Improve Faculty Development: Invest in faculty training and development programs to enhance teaching skills, encourage innovation, and promote research.
Long-Term (3-5 Years):
- Expand Online Education Offerings: Develop a comprehensive online education strategy, expand the range of online programs, and invest in online learning technologies.
- Explore International Partnerships: Establish partnerships with universities and institutions in emerging markets to attract international students and faculty.
- Foster a Culture of Innovation: Encourage creativity and innovation among faculty and staff, establish an innovation lab, and support research initiatives.
- Strengthen Corporate Social Responsibility: Develop a comprehensive CSR strategy, engage in community outreach, and promote sustainability initiatives.
- Implement a Change Management Strategy: Communicate the strategic plan clearly, involve stakeholders in the change process, and provide training and support to employees.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of the university's current situation, its strengths and weaknesses, and the opportunities and threats it faces. They are consistent with the university's mission and core competencies and are designed to address the needs of both external customers (students) and internal clients (faculty and staff).
The recommendations are also grounded in best practices in higher education and are supported by research on effective strategies for addressing declining enrollment, increasing competition, and financial pressures.
6. Conclusion
Fern Fort University faces significant challenges, but it also has the potential to thrive in the 21st century. By implementing a comprehensive strategic plan that addresses the university's weaknesses, capitalizes on its strengths, and embraces emerging opportunities, Deborah Lovich can lead the institution to a brighter future.
7. Discussion
Alternative Options:
- Merging with another institution: This could provide access to resources and a larger student base, but it could also lead to a loss of identity and autonomy.
- Focusing solely on traditional education: This would be a less risky strategy, but it would limit the university's ability to compete in the evolving higher education landscape.
- Cutting costs significantly: This could be a short-term solution, but it could also lead to a decline in quality and morale.
Risks and Key Assumptions:
- The success of the strategic plan depends on the commitment and support of the Board of Trustees, faculty, staff, and students.
- The university's financial situation may require significant changes to its budget and operations.
- The implementation of new technologies and online learning platforms may require significant investment and expertise.
- The university's ability to attract international students will depend on its reputation, its ability to provide a welcoming environment, and its financial aid policies.
8. Next Steps
Timeline:
- Year 1: Develop a comprehensive strategic plan, implement financial management improvements, enhance marketing and recruitment efforts, and invest in technology and infrastructure.
- Year 2: Begin expanding online education offerings, explore international partnerships, and foster a culture of innovation.
- Year 3-5: Continue implementing the strategic plan, monitor progress, and adjust strategies as needed.
Key Milestones:
- Develop a strategic plan within 6 months.
- Implement financial management improvements within 12 months.
- Increase enrollment by 5% within 2 years.
- Launch 3 new online programs within 3 years.
- Establish 2 international partnerships within 4 years.
By taking these steps, Fern Fort University can position itself for success in the years to come.
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Case Description
Deborah Lovich, Partner at the Boston Consulting Group (BCG), has been given the opportunity of a lifetime: to join the firm's Executive Committee as its youngest member and only current woman, as well as just the second woman in its history. Encouraged by her mentors, she saw this role as an important platform to help shape BCG's future. Yet, she had family to consider. Taking up the opportunity would add an additional five to six weeks of travel per year, on top of an already hectic schedule that kept her from home and her four children most days of the week. Her husband Mark, who had finished a grueling 12-year MD-PhD program one year earlier, decided to put his career on hold to be a stay-at-home dad because of her many commitments. Now, with the possibility of even further time away from the family looming, and the kids wanting more time with her, Mark made a serious demand: that she not only decline the Executive Committee role, but also scale back her commitments so that he could relaunch his career. Lovich must weigh how to balance her responsibilities to her family without sacrificing the career she had worked so hard to build.
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