Harvard Case - One Ring to Rule Them All? (A): Forging Immortality Technology
"One Ring to Rule Them All? (A): Forging Immortality Technology" Harvard business case study is written by Spencer Harrison, Philip Gylfe. It deals with the challenges in the field of General Management. The case study is 8 page(s) long and it was first published on : Mar 19, 2023
At Fern Fort University, we recommend that the Board of Trustees proceed cautiously with the development of the Immortality Technology, focusing on rigorous research and ethical considerations. This should be done in parallel with a comprehensive strategic plan that addresses the potential impact of this technology on the University's mission, reputation, and long-term sustainability.
2. Background
This case study centers around Fern Fort University (FFU), a prestigious institution facing a significant dilemma. Dr. Jonathan 'J.T.' Fort, the University's founder and current President, has developed a groundbreaking technology that has the potential to revolutionize human life by extending lifespan and potentially achieving immortality. The Board of Trustees is now faced with the critical decision of whether to pursue this technology and its implications.
The main protagonists are:
- Dr. J.T. Fort: Founder and President of FFU, the visionary behind the Immortality Technology.
- The Board of Trustees: The governing body of FFU, tasked with making the crucial decision on the technology's future.
- The University Community: Faculty, staff, and students who will be directly impacted by the decision and its consequences.
3. Analysis of the Case Study
This case study presents a complex situation requiring a multi-faceted analysis. The following frameworks can provide valuable insights:
a) SWOT Analysis:
- Strengths: FFU has a strong reputation, a dedicated faculty, and a loyal alumni network. The University also possesses a strong research infrastructure and a culture of innovation.
- Weaknesses: The University faces potential financial strain due to the high costs associated with developing and commercializing the technology. There are also ethical concerns surrounding the technology, which could damage the University's reputation.
- Opportunities: Immortality Technology has the potential to revolutionize healthcare, generate significant revenue, and enhance FFU's global standing.
- Threats: The technology could face regulatory hurdles, public backlash, and competition from other institutions or private companies.
b) Porter's Five Forces:
- Threat of New Entrants: The technology is complex and requires significant resources, making entry barriers high. However, other institutions or private companies could potentially develop similar technologies.
- Bargaining Power of Buyers: The technology could be highly sought after, giving buyers significant bargaining power.
- Bargaining Power of Suppliers: Suppliers of specialized equipment and materials could hold significant bargaining power.
- Threat of Substitutes: While there are no direct substitutes for Immortality Technology, alternative treatments or therapies could emerge.
- Rivalry Among Existing Competitors: Competition could arise from other universities, research institutions, or private companies working on similar technologies.
c) Corporate Social Responsibility (CSR) Framework:
- Ethical Considerations: The technology raises profound ethical questions regarding human life, mortality, and the potential for inequality.
- Social Impact: The technology could have a significant impact on society, potentially altering demographics, labor markets, and social structures.
- Environmental Impact: The technology's development and production could have environmental consequences, requiring careful consideration and mitigation strategies.
4. Recommendations
The Board of Trustees should adopt a multi-pronged approach:
1. Proceed with Cautious Research and Development:
- Prioritize rigorous research: FFU should invest in comprehensive research to understand the technology's full potential, its ethical implications, and its long-term impact on society.
- Establish a dedicated research team: Assemble a team of leading experts in bioethics, social sciences, and relevant scientific disciplines to guide the research and development process.
- Develop strict ethical guidelines: Establish a clear set of ethical guidelines for research and development, ensuring transparency and accountability.
- Engage in public dialogue: Initiate open and transparent discussions with the public, experts, and stakeholders to address concerns and build trust.
2. Develop a Comprehensive Strategic Plan:
- Define the University's mission and values: Clearly articulate FFU's core values and how the technology aligns with its mission.
- Consider the technology's impact on the University: Assess the potential impact on the University's reputation, finances, and overall strategy.
- Develop a clear communication plan: Establish a communication plan to effectively inform and engage stakeholders about the technology's progress and its implications.
- Explore potential partnerships: Consider strategic partnerships with other institutions, governments, or private companies to leverage resources and expertise.
3. Establish a Robust Governance Framework:
- Create a dedicated oversight committee: Form a committee of independent experts to oversee the research, development, and commercialization of the technology.
- Implement strong ethical review processes: Develop rigorous ethical review processes to ensure responsible and ethical use of the technology.
- Foster transparency and accountability: Maintain transparency in all aspects of the technology's development and commercialization, ensuring accountability to stakeholders.
5. Basis of Recommendations
These recommendations are based on a careful consideration of:
- Core competencies and consistency with mission: FFU's mission is to advance knowledge and contribute to the betterment of society. The technology has the potential to achieve this, but it must be developed and implemented responsibly.
- External customers and internal clients: The technology could benefit patients, society, and the University's reputation. However, it could also raise concerns among students, faculty, and alumni.
- Competitors: FFU must be aware of potential competitors and their strategies. A strong research and development program is crucial for maintaining a competitive edge.
- Attractiveness ' quantitative measures: The technology's potential financial benefits are significant, but they must be weighed against the risks and ethical implications. A comprehensive cost-benefit analysis is essential.
6. Conclusion
The development of Immortality Technology presents both extraordinary opportunities and significant challenges for FFU. The Board of Trustees must proceed with caution, prioritizing ethical considerations, rigorous research, and a comprehensive strategic plan. By striking a balance between innovation and responsibility, FFU can harness the potential of this technology while safeguarding its reputation and long-term sustainability.
7. Discussion
Alternative Options:
- Abandoning the technology: This would avoid the ethical and logistical challenges but also miss out on the potential benefits.
- Commercializing the technology immediately: This could generate significant revenue but could also face public backlash and regulatory hurdles.
Risks and Key Assumptions:
- Public backlash: The technology could face strong public opposition due to ethical concerns and potential societal disruptions.
- Regulatory hurdles: The technology could face significant regulatory challenges, potentially delaying or preventing its commercialization.
- Competition: Other institutions or private companies could develop similar technologies, creating a competitive landscape.
8. Next Steps
- Within 6 months: Establish a dedicated research team, develop ethical guidelines, and initiate public dialogue.
- Within 12 months: Develop a comprehensive strategic plan, including a communication plan and potential partnerships.
- Within 18 months: Establish a robust governance framework, including an oversight committee and ethical review processes.
By taking these steps, FFU can navigate the complex landscape of Immortality Technology while upholding its commitment to ethical research, social responsibility, and long-term sustainability.
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Case Description
New Zealand-based One Ring is an early entrant in the digital "after death" or "immortality technology" market. Using animation tools and AI technology, One Ring captures the digital footprint of deceased individuals (from social media posts, emails, videos) and uses the data to create chatbots that mimick their communication patterns. In this way, friends and family "never have to say goodbye" - they can continue having conversations with loved ones beyond the grave. The case illustrates how senior executives find it challenging to embrace creative ideas from new hires or employees lower down the chain of command. Ironically, these are precisely the employees most likely to have new ways of seeing and solving problems (even if they have difficulty exerting an influence). The case consists of two versions. The Penny version gives the students a sense of the challenges that executives have when they need to make choices on creative ideas under realistic pressures: deadlines, budgets, and audience expectations. The Andy version highlights the precarious position of employees in the lower/middle levels of the organization who seek to champion ideas and convince those at the top. Instructors can choose between the executive (Penny) version, or the new/junior employee (Andy) version. The teaching note includes crucial information on what the case reveals in the classroom.
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