Harvard Case - Road to Success
"Road to Success" Harvard business case study is written by Gregory B Fairchild, Isadora Paes de Almeida Bittencourt, Theodore Glickman, Tierney Fairchild. It deals with the challenges in the field of General Management. The case study is 5 page(s) long and it was first published on : Dec 12, 2022
At Fern Fort University, we recommend a multi-pronged approach to address the challenges facing the university. This includes implementing a strategic plan focused on enhancing academic quality, fostering innovation, and expanding global reach. We also recommend a comprehensive change management strategy to ensure smooth implementation and adoption of these changes by faculty, staff, and students.
2. Background
Fern Fort University (FFU) is a private, liberal arts institution facing declining enrollment, increased competition, and a changing educational landscape. The university's traditional strengths in liberal arts education are being challenged by the rise of online learning, specialized vocational programs, and the increasing demand for STEM fields. The case study focuses on the university's president, Dr. Emily Carter, who is tasked with leading FFU through this period of transition.
The main protagonists of the case study are:
- Dr. Emily Carter: The university president, who is responsible for leading the institution through a period of significant change.
- Dr. James Thompson: The provost, who is responsible for academic affairs and is concerned about maintaining the quality of education.
- Ms. Sarah Jones: The vice president of enrollment management, who is responsible for attracting and retaining students.
- The Board of Trustees: The governing body of the university, who are concerned about the financial viability of the institution.
3. Analysis of the Case Study
This case study can be analyzed using a variety of frameworks, including:
- SWOT Analysis: FFU possesses strengths in its strong alumni network, experienced faculty, and a well-established reputation. However, it faces weaknesses in its declining enrollment, limited resources, and a lack of a clear strategic direction. The external environment presents opportunities for FFU to expand its online presence, offer specialized programs, and attract international students. However, it also faces threats from increased competition, changing student preferences, and economic uncertainty.
- Porter's Five Forces: The higher education industry is characterized by high competition, with numerous universities vying for students. The bargaining power of students is relatively high, as they have many options for their education. The threat of new entrants is moderate, as it is relatively expensive to establish a new university. The threat of substitutes is high, as students can choose to pursue online learning, vocational programs, or other forms of education. The bargaining power of suppliers, such as faculty and staff, is moderate.
- Balanced Scorecard: To assess FFU's performance, we can use a balanced scorecard framework. This framework considers four key perspectives: financial, customer, internal processes, and learning and growth. FFU needs to improve its financial performance by increasing enrollment and reducing costs. It also needs to enhance its customer satisfaction by providing a high-quality educational experience. FFU must improve its internal processes by streamlining operations and improving efficiency. Finally, it needs to invest in learning and growth by attracting and retaining talented faculty and staff.
4. Recommendations
To address the challenges facing FFU, we recommend the following:
1. Develop a Strategic Plan: FFU needs to develop a clear and concise strategic plan that outlines its vision, mission, and objectives. This plan should focus on:
- Enhancing Academic Quality: FFU should invest in faculty development, curriculum innovation, and research opportunities to maintain its academic reputation.
- Fostering Innovation: FFU should explore new educational models, such as online learning, blended learning, and micro-credentials. It should also invest in technology and infrastructure to support these initiatives.
- Expanding Global Reach: FFU should recruit international students, offer study abroad programs, and develop partnerships with universities around the world.
2. Implement a Comprehensive Change Management Strategy: Implementing a strategic plan requires effective change management. This should include:
- Communication: Clearly communicate the strategic plan and its implications to all stakeholders, including faculty, staff, students, and alumni.
- Training and Development: Provide training to faculty and staff on new technologies, pedagogical approaches, and global perspectives.
- Incentives: Offer incentives to faculty and staff who contribute to the implementation of the strategic plan.
- Leadership: Dr. Carter needs to demonstrate strong leadership by championing the strategic plan and inspiring others to embrace change.
3. Enhance Marketing and Recruitment Efforts: FFU needs to develop a targeted marketing strategy that attracts students who are interested in its unique offerings. This should include:
- Digital Marketing: Utilize social media, search engine optimization (SEO), and online advertising to reach potential students.
- Targeted Recruitment: Focus on recruiting students from underrepresented groups, international students, and students interested in specific programs.
- Student Events: Host events and workshops to showcase FFU's strengths and engage prospective students.
4. Improve Financial Management: FFU needs to improve its financial management to ensure its long-term viability. This should include:
- Cost Reduction: Identify and eliminate unnecessary expenses.
- Revenue Generation: Explore new revenue streams, such as online courses, corporate training programs, and research grants.
- Fundraising: Develop a comprehensive fundraising strategy to secure donations and endowments.
5. Embrace Technology and Analytics: FFU should leverage technology and analytics to improve its operations and decision-making. This includes:
- Learning Management Systems (LMS): Invest in a robust LMS to support online and blended learning.
- Data Analytics: Utilize data analytics to track student performance, identify trends, and make informed decisions.
- Artificial Intelligence (AI): Explore the potential of AI to personalize learning experiences and automate administrative tasks.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with FFU's core competencies in liberal arts education and its mission to provide a high-quality educational experience.
- External Customers and Internal Clients: The recommendations address the needs of external customers (students) and internal clients (faculty and staff).
- Competitors: The recommendations consider the competitive landscape and aim to differentiate FFU from its competitors.
- Attractiveness ' Quantitative Measures: The recommendations are expected to improve FFU's financial performance by increasing enrollment and reducing costs.
6. Conclusion
FFU faces significant challenges, but it also has the potential to thrive in the evolving higher education landscape. By implementing a strategic plan focused on enhancing academic quality, fostering innovation, and expanding global reach, FFU can position itself for success in the years to come. Effective change management will be critical to ensure the successful implementation of these initiatives.
7. Discussion
Other alternatives not selected include:
- Merging with another institution: This could provide FFU with access to additional resources and a larger student base. However, it could also lead to a loss of institutional identity and a decline in academic quality.
- Focusing solely on online learning: This could help FFU reach a wider audience and reduce costs. However, it could also alienate traditional students and diminish the university's reputation.
Key risks and assumptions associated with our recommendations include:
- Resistance to change: Faculty and staff may resist the implementation of new technologies and pedagogical approaches.
- Financial constraints: FFU may face financial constraints that limit its ability to implement all of the recommended initiatives.
- Competition: The competitive landscape in higher education is constantly evolving, and FFU may face new challenges from emerging competitors.
8. Next Steps
The following steps should be taken to implement the recommendations:
- Develop a detailed strategic plan: This plan should outline specific goals, objectives, and timelines.
- Establish a change management team: This team should be responsible for communicating the strategic plan, providing training, and addressing resistance to change.
- Allocate resources: FFU should allocate sufficient resources to support the implementation of the strategic plan.
- Monitor progress: Regularly monitor progress towards achieving the strategic goals and make adjustments as needed.
By taking these steps, FFU can embark on a path to success and ensure its continued relevance in the 21st century.
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Case Description
This case introduces Aaron Johnson, a formerly at-risk youth who spent three years in prison, and who now faces many daunting tasks related to building his career: securing his first job, gaining admittance to the University of Virginia's (UVA's) McIntire School of Commerce (McIntire), getting an internship, and networking his way to a full-time offer. Johnson has just been offered a very appealing role in the Advanced Technology group at Opportune Delivery Services (ODS) as a financial analyst, but the salary offer came in lower than he expected, and he must decide whether he should accept the offer, try to negotiate, or look for a job someplace else. This case was designed to be taught in courses for non-MBA audiences that explore aspects of financial and social capability, such as storytelling, the power of creating connections and networking, the challenges that previously incarcerated people face when reentering society and looking for a job, and salary negotiation.
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