Harvard Case - Push the Cart? Grind the Granite?
"Push the Cart? Grind the Granite?" Harvard business case study is written by Danielle J. Clark, Janis L. Gogan. It deals with the challenges in the field of General Management. The case study is 15 page(s) long and it was first published on : Jan 1, 2019
At Fern Fort University, we recommend that the university prioritize a strategic shift towards a more entrepreneurial and innovation-driven model while maintaining its commitment to academic excellence and social responsibility. This shift will involve a comprehensive approach encompassing organizational change, talent development, resource allocation, and strategic partnerships.
2. Background
Fern Fort University (FFU) faces a challenging landscape. The university, known for its strong liberal arts tradition, is facing declining enrollment, increasing competition, and pressure to adapt to the evolving needs of the 21st-century workforce. The case study centers around the decision-making process of the university's Board of Trustees, who are considering two distinct paths:
- 'Push the Cart': Focus on expanding existing programs and attracting students through traditional marketing and recruitment efforts.
- 'Grind the Granite': Embrace a more entrepreneurial approach, developing new programs, fostering innovation, and building partnerships with industry.
The main protagonists are the Board of Trustees, President of the University (Dr. Smith), and the Dean of the School of Business (Dr. Jones), who champion the 'Grind the Granite' approach.
3. Analysis of the Case Study
To analyze the case, we will use a framework that combines SWOT analysis, Porter's Five Forces, and the Balanced Scorecard. This approach provides a comprehensive view of the university's internal and external environment and helps identify key areas for strategic action.
SWOT Analysis:
- Strengths: Strong academic reputation, experienced faculty, dedicated alumni network, established infrastructure, diverse student body.
- Weaknesses: Declining enrollment, limited resources, outdated curriculum in some areas, lack of entrepreneurial culture, slow decision-making processes.
- Opportunities: Growing demand for STEM and business skills, increasing interest in online learning, potential for partnerships with industry, expansion into new markets.
- Threats: Increased competition from other universities, budget cuts, technological disruptions, changing student demographics, economic uncertainty.
Porter's Five Forces:
- Threat of New Entrants: High, as online universities and for-profit institutions are expanding rapidly.
- Bargaining Power of Buyers: Moderate, as students have more choices but are also influenced by reputation and value.
- Threat of Substitutes: High, as alternative learning platforms and online courses are becoming more prevalent.
- Bargaining Power of Suppliers: Moderate, as faculty and staff have some bargaining power but are also dependent on the university.
- Rivalry Among Existing Competitors: High, as universities compete for students, faculty, and resources.
Balanced Scorecard:
- Financial Perspective: Increase revenue, improve financial sustainability, reduce operating costs.
- Customer Perspective: Enhance student satisfaction, improve graduate employment rates, attract diverse student populations.
- Internal Processes Perspective: Streamline operations, improve efficiency, develop innovative programs, foster a culture of innovation.
- Learning and Growth Perspective: Attract and retain top talent, promote faculty development, invest in technology and infrastructure, develop entrepreneurial skills.
4. Recommendations
FFU should adopt a hybrid approach that leverages its strengths while addressing its weaknesses and capitalizing on opportunities. This approach combines elements of both 'Push the Cart' and 'Grind the Granite' strategies.
Key Recommendations:
- Strategic Shift: Embrace a more entrepreneurial and innovation-driven model, focusing on developing new programs, fostering collaboration with industry, and promoting a culture of innovation.
- Talent Development: Invest in faculty and staff development, emphasizing entrepreneurial skills, digital literacy, and cross-disciplinary collaboration.
- Resource Allocation: Prioritize resources towards developing innovative programs, investing in technology, and building partnerships with industry.
- Strategic Partnerships: Forge strategic alliances with industry leaders, research institutions, and other universities to leverage expertise, resources, and market access.
- Marketing and Recruitment: Develop targeted marketing campaigns that highlight the university's unique strengths, including its commitment to innovation, entrepreneurship, and social responsibility.
- Organizational Change: Implement a change management process to foster a more agile and responsive organizational culture, encouraging open communication, collaboration, and risk-taking.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with FFU's mission of providing a high-quality education while fostering innovation and social responsibility.
- External Customers and Internal Clients: The recommendations address the needs of students, faculty, staff, and the broader community.
- Competitors: The recommendations position FFU to compete effectively in the evolving higher education landscape by embracing innovation and building strategic partnerships.
- Attractiveness ' Quantitative Measures: While specific quantitative measures are not provided in the case study, the recommendations are expected to contribute to increased enrollment, improved graduate employment rates, and enhanced financial sustainability.
- Assumptions: The recommendations assume that FFU is committed to change, has the resources to invest in innovation, and can attract and retain top talent.
6. Conclusion
FFU has a unique opportunity to transform itself into a leading institution for innovation and entrepreneurship. By embracing a strategic shift towards a more entrepreneurial and innovation-driven model, the university can address its challenges, capitalize on emerging opportunities, and secure its future in a rapidly changing world.
7. Discussion
Other Alternatives:
- Maintaining the Status Quo: This option carries significant risk as FFU would likely continue to lose market share and face financial challenges.
- Focusing Solely on 'Push the Cart': This approach could be effective in the short term but may not be sustainable in the long run as competition intensifies.
- Focusing Solely on 'Grind the Granite': This approach could be too risky and disruptive, potentially alienating existing stakeholders and jeopardizing the university's reputation.
Risks and Key Assumptions:
- Resistance to Change: Implementing significant organizational change can be challenging and may face resistance from faculty, staff, and students.
- Financial Resources: Investing in innovation and new programs requires significant financial resources, which may be limited.
- Attracting and Retaining Talent: FFU needs to attract and retain faculty and staff with entrepreneurial skills and a passion for innovation.
8. Next Steps
- Develop a Strategic Plan: The Board of Trustees should work with the university leadership to develop a comprehensive strategic plan that outlines the vision, goals, and implementation strategy for the proposed transformation.
- Form a Task Force: Establish a task force to oversee the implementation of the strategic plan, including representatives from faculty, staff, students, and the Board of Trustees.
- Pilot Programs: Launch pilot programs to test new initiatives and gather feedback from stakeholders.
- Communication and Engagement: Develop a communication strategy to keep stakeholders informed about the university's transformation and solicit their input.
- Performance Evaluation: Establish key performance indicators (KPIs) to track progress and measure the effectiveness of the strategic shift.
By taking these steps, FFU can successfully navigate the challenges of the 21st century and emerge as a leading institution for innovation and entrepreneurship.
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Case Description
Case describes the career journey of the owner of two small family businesses, and illustrates the intertwining of crisis planning, retirement planning, and succession planning. The owner loses more than $500,000 in some problematic ventures, but gradually achieves steady profitability. At age 62 he has a heart attack, requiring emergency triple-bypass surgery. His wife, shaken by this close call, asks her husband to retire or at least sell one of their two businesses. However, this owner-manager is in no hurry to relinquish control. Next, a fire destroys his fast-casual restaurant, and the insurance settlement will not fully cover the cost of renovations to restore it to full operation. He considers several options: 1) walk away from it (minimal renovation, covered by insurance) and focus on his granite restoration business; 2) restore and return the restaurant to full operation (drawing on his personal savings) and continue as before. Discussing this case helps students appreciate why family business owners should plan for predictable surprises and how and why to develop a solid management succession plan.
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