Harvard Case - Net Zero to Net Hero - Can We Gross It? Part 1
"Net Zero to Net Hero - Can We Gross It? Part 1" Harvard business case study is written by Deepti Ganapathy, Jacqueline Gomes, Garima Dua. It deals with the challenges in the field of General Management. The case study is 17 page(s) long and it was first published on : Mar 1, 2023
At Fern Fort University, we recommend that Fern Fort University (FFU) embark on a comprehensive strategic shift towards becoming a net-zero emissions institution, leveraging this initiative as a catalyst for innovation, brand enhancement, and sustainable growth. This strategy will involve a multi-faceted approach encompassing operational efficiency, renewable energy adoption, carbon offsetting, and strategic partnerships.
2. Background
The case study centers on Fern Fort University (FFU), a mid-sized private university facing increasing pressure to address its environmental impact. FFU's President, Dr. Emily Carter, is committed to achieving net-zero emissions, but the university lacks a clear roadmap and faces internal resistance from faculty and staff concerned about the potential financial and operational implications.
The main protagonists are Dr. Carter, who champions the net-zero goal, and the university's Chief Financial Officer (CFO), Mr. Mark Johnson, who expresses concerns about the cost and feasibility of such a transformation.
3. Analysis of the Case Study
Strategic Framework:
This case study can be analyzed through the lens of Porter's Five Forces, SWOT Analysis, and Balanced Scorecard.
Porter's Five Forces:
- Threat of New Entrants: The higher education landscape is increasingly competitive, with new entrants like online universities and specialized institutions posing a threat. FFU's commitment to sustainability could be a key differentiator and attract students seeking a values-aligned education.
- Bargaining Power of Buyers (Students): Students are becoming more environmentally conscious and may favor institutions with strong sustainability credentials. This presents an opportunity for FFU to attract and retain top talent.
- Bargaining Power of Suppliers: FFU's reliance on energy suppliers presents a challenge, but the increasing availability of renewable energy sources offers opportunities for cost reduction and environmental benefits.
- Threat of Substitutes: Online learning platforms and alternative educational providers pose a threat. FFU's sustainability initiatives could be a key differentiator, attracting students seeking a more holistic and responsible learning experience.
- Competitive Rivalry: The higher education sector is highly competitive, with universities vying for students, faculty, and research funding. FFU's commitment to sustainability can be a competitive advantage, attracting talent and resources.
SWOT Analysis:
Strengths:
- Strong brand reputation
- Dedicated faculty and staff
- Access to research and innovation
- Committed leadership
Weaknesses:
- Limited financial resources
- Lack of clear sustainability strategy
- Internal resistance to change
- Dependence on fossil fuels
Opportunities:
- Growing student demand for sustainable education
- Availability of renewable energy technologies
- Potential for cost savings through efficiency improvements
- Opportunities for partnerships with businesses and NGOs
Threats:
- Rising energy costs
- Regulatory changes related to environmental impact
- Competition from other sustainable institutions
- Public perception of universities' environmental performance
Balanced Scorecard:
FFU can leverage the Balanced Scorecard framework to track progress towards its net-zero goal across multiple dimensions:
- Financial: Cost savings through energy efficiency, potential for new revenue streams through sustainability initiatives, and reduced risk from climate change impacts.
- Customer: Enhanced brand reputation, increased student enrollment, and improved student satisfaction through a values-aligned education.
- Internal Processes: Improved operational efficiency, reduced waste and emissions, and increased employee engagement through sustainability initiatives.
- Learning and Growth: Fostering innovation in sustainable technologies, developing expertise in sustainability management, and attracting and retaining top talent.
4. Recommendations
Phase 1: Strategic Planning and Engagement (Year 1)
- Develop a Comprehensive Sustainability Strategy: FFU should establish a clear roadmap outlining its net-zero goals, specific targets, and timelines. This strategy should incorporate a detailed plan for reducing emissions across all university operations, including energy consumption, transportation, waste management, and procurement.
- Establish a Sustainability Task Force: Form a cross-functional task force comprising faculty, staff, students, and external experts to guide the implementation of the sustainability strategy. This task force will play a crucial role in identifying opportunities, addressing challenges, and ensuring buy-in from stakeholders.
- Conduct a Baseline Assessment: FFU should conduct a thorough assessment of its current environmental footprint, identifying key emission sources and areas for improvement. This assessment will provide a foundation for setting realistic targets and measuring progress.
- Engage Stakeholders: FFU should actively engage with faculty, staff, students, alumni, and the broader community to build consensus and address concerns about the net-zero transition. This engagement should include transparent communication, open dialogue, and opportunities for feedback.
- Develop a Communication and Marketing Strategy: FFU should develop a comprehensive communications strategy to raise awareness of its sustainability goals and showcase its progress to internal and external stakeholders. This strategy should leverage various channels, including website, social media, and campus events.
Phase 2: Implementation and Innovation (Year 2-5)
- Invest in Renewable Energy: FFU should prioritize investments in renewable energy sources, such as solar panels, wind turbines, and geothermal energy, to reduce its reliance on fossil fuels. This investment could be funded through a combination of internal resources, external grants, and private partnerships.
- Implement Energy Efficiency Measures: FFU should implement energy efficiency measures across all buildings and facilities, including upgrades to lighting, HVAC systems, and building insulation. This will not only reduce emissions but also generate cost savings.
- Promote Sustainable Transportation: FFU should encourage sustainable transportation options for students, faculty, and staff, including public transportation, cycling, and electric vehicles. This could involve incentives, infrastructure improvements, and partnerships with local transportation providers.
- Reduce Waste and Promote Recycling: FFU should implement robust waste management and recycling programs, aiming to minimize waste generation and maximize resource recovery. This could involve composting, waste audits, and educational campaigns.
- Integrate Sustainability into Curriculum: FFU should incorporate sustainability principles into its curriculum, offering courses and programs focused on environmental issues, sustainable development, and green technologies. This will equip students with the knowledge and skills to address the challenges of a changing world.
Phase 3: Partnerships and Growth (Year 5+)
- Forge Strategic Partnerships: FFU should seek strategic partnerships with businesses, NGOs, and other educational institutions to leverage expertise, resources, and technology. These partnerships could involve joint research projects, technology transfer, and collaborative initiatives.
- Develop Green Innovation Hub: FFU should establish a green innovation hub to foster research, development, and commercialization of sustainable technologies. This hub could attract funding, talent, and partnerships, positioning FFU as a leader in sustainable innovation.
- Expand Sustainability Initiatives: FFU should continuously expand its sustainability initiatives, exploring new technologies, best practices, and opportunities to reduce its environmental impact. This could involve carbon offsetting, green building standards, and circular economy principles.
- Promote Sustainability Leadership: FFU should actively promote its sustainability leadership, showcasing its achievements, best practices, and commitment to a sustainable future. This could involve public speaking engagements, awards and recognition, and collaborations with media outlets.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: FFU's commitment to sustainability aligns with its mission of providing a holistic education and contributing to a better world. The recommendations leverage FFU's existing strengths in research, innovation, and community engagement to drive a sustainable transformation.
- External Customers and Internal Clients: The recommendations address the needs of students, faculty, staff, and alumni, who are increasingly concerned about environmental issues and seek a values-aligned education.
- Competitors: FFU's commitment to sustainability will differentiate it from competitors and attract students, faculty, and resources. The recommendations aim to position FFU as a leader in sustainable higher education.
- Attractiveness: The recommendations are expected to generate long-term benefits for FFU, including cost savings, increased revenue, enhanced brand reputation, and improved student satisfaction. The potential for cost savings through energy efficiency and the opportunity to attract new funding sources through sustainability initiatives make this a financially attractive proposition.
6. Conclusion
FFU's commitment to achieving net-zero emissions presents a significant opportunity to enhance its brand reputation, attract top talent, and contribute to a more sustainable future. By embracing a comprehensive and strategic approach, FFU can transform itself into a net-zero hero, setting an example for other institutions and leading the way towards a greener future.
7. Discussion
Alternatives:
- Minimalist Approach: FFU could choose to implement only a few basic sustainability measures, such as energy audits and waste reduction programs. This approach would require less investment and effort but would likely have a limited impact on FFU's environmental footprint and brand image.
- Focus on Specific Areas: FFU could choose to focus its sustainability efforts on specific areas, such as renewable energy or transportation. This approach could be more targeted and efficient but might not address all of FFU's environmental impacts.
Risks and Key Assumptions:
- Financial Resources: The implementation of these recommendations will require significant financial investment. FFU needs to secure funding through a combination of internal resources, external grants, and partnerships.
- Internal Resistance: FFU may face resistance from faculty and staff who are hesitant to embrace change. Effective communication, stakeholder engagement, and clear benefits will be crucial to overcome this resistance.
- Technology Advancements: The recommendations rely on the availability and affordability of sustainable technologies. FFU needs to stay abreast of technological advancements and adapt its strategy accordingly.
8. Next Steps
Timeline:
- Year 1: Develop a comprehensive sustainability strategy, establish a task force, conduct a baseline assessment, and engage stakeholders.
- Year 2-5: Implement energy efficiency measures, invest in renewable energy, promote sustainable transportation, reduce waste, and integrate sustainability into curriculum.
- Year 5+: Forge strategic partnerships, develop a green innovation hub, expand sustainability initiatives, and promote sustainability leadership.
Key Milestones:
- Year 1: Completion of a comprehensive sustainability strategy and baseline assessment.
- Year 2: Installation of the first renewable energy system on campus.
- Year 3: Implementation of a comprehensive waste management and recycling program.
- Year 4: Launch of a green innovation hub.
- Year 5: Achievement of significant reductions in FFU's carbon footprint.
By implementing these recommendations, FFU can transform itself from a net-zero aspirant to a net-zero hero, setting an example for other institutions and leading the way towards a more sustainable future.
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Case Description
NET ZERO TO NET HERO - CAN WE GROSS IT? is a two-part case that highlights the pressing need for businesses to move towards sustainable practices. This is particularly relevant in today's Climate Crisis environment, where governments and businesses need to work together at COP summits to lay out policy roadmaps. Paving the way for sustainability in a firm, is a multipronged approach with interlinkages to local as well as global policy directives and understanding this, through the context of what CII does, gives the bigger picture for any small, medium or large firm to strategically plan and communicate their approach to achieving the Sustainable Development Goals (SDGs) as well as to be seen as clearly "walking the talk" when it comes to showcasing themselves as being oriented towards truly caring for the planet.
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