Harvard Case - Shut It Down?
"Shut It Down?" Harvard business case study is written by Clayton Rose. It deals with the challenges in the field of General Management. The case study is 2 page(s) long and it was first published on : Jul 10, 2012
At Fern Fort University, we recommend that Fern Fort University should not shut down the program. Instead, we propose a strategic restructuring and revitalization plan to address the program's challenges and capitalize on its strengths. This plan will focus on enhancing the program's competitive advantage, innovation, and student experience while ensuring its financial sustainability and alignment with the university's overall mission and goals.
2. Background
The case study focuses on Fern Fort University's (FFU) struggling 'Leadership in a Globalized World' (LGW) program. The program, initially successful, has faced declining enrollment and financial difficulties due to several factors:
- Increased competition: Other universities have launched similar programs, offering more specialized and niche offerings.
- Changing market demands: The global landscape has shifted, requiring more specialized skills and knowledge than the LGW program currently provides.
- Limited resources: The program lacks adequate funding and resources to compete effectively with its rivals.
- Outdated curriculum: The LGW curriculum has not been updated to reflect the latest trends and demands in the globalized business environment.
The main protagonists are the program's director, Professor David Lee, and the university's Dean of Business, Professor Jane Smith. Professor Lee is passionate about the program and its potential but faces significant challenges in revitalizing it. Professor Smith, on the other hand, is concerned about the program's financial viability and its impact on the university's overall reputation.
3. Analysis of the Case Study
To analyze the situation, we employ a combination of frameworks:
- SWOT Analysis:
- Strengths: Strong faculty expertise, established network of alumni, potential for innovation, and a unique focus on global leadership.
- Weaknesses: Outdated curriculum, limited resources, declining enrollment, and lack of marketing and outreach.
- Opportunities: Emerging markets, growing demand for global leadership skills, potential for online learning, and partnerships with international institutions.
- Threats: Increased competition, changing market demands, economic uncertainty, and technological advancements.
- Porter's Five Forces:
- Threat of new entrants: High, as new universities and programs are entering the market.
- Bargaining power of buyers: High, as students have many choices and are price-sensitive.
- Threat of substitutes: High, as online learning platforms and alternative programs offer similar content.
- Bargaining power of suppliers: Low, as the university has access to a diverse pool of faculty and resources.
- Rivalry among existing competitors: High, as universities are actively competing for students and resources.
Financial Analysis: The case study provides limited financial data, but it highlights the program's declining enrollment and financial losses. A thorough financial analysis is crucial to determine the program's true financial viability and identify potential cost-saving measures.
Market Analysis: The globalized business environment presents both challenges and opportunities. The program needs to adapt its curriculum and offerings to meet the evolving demands of the market. This includes incorporating emerging technologies, focusing on specific industry sectors, and developing skills relevant to the globalized workforce.
4. Recommendations
We recommend a multi-pronged approach to revitalize the LGW program:
1. Curriculum Revamp:
- Update curriculum: Modernize the curriculum by incorporating new technologies, emerging trends, and case studies relevant to the globalized business environment.
- Specialization: Introduce specialized tracks within the program, focusing on specific industries, regions, or functional areas like sustainability, digital transformation, or international finance.
- Experiential Learning: Enhance the program with experiential learning opportunities like international internships, study abroad programs, and simulations.
2. Marketing and Outreach:
- Targeted Marketing: Develop a targeted marketing strategy focusing on potential students with specific interests and career aspirations.
- Online Presence: Enhance the program's online presence through a user-friendly website, social media engagement, and online marketing campaigns.
- Alumni Network: Leverage the program's alumni network to promote the program and attract new students.
3. Resource Allocation:
- Financial Sustainability: Explore alternative funding sources like corporate partnerships, grants, and alumni donations.
- Resource Optimization: Streamline program operations, reduce unnecessary costs, and prioritize resource allocation towards strategic initiatives.
- Faculty Development: Invest in faculty development programs to enhance their expertise in global business, emerging technologies, and teaching methodologies.
4. Innovation and Technology:
- Online Learning: Explore the potential of online learning to reach a wider audience and offer flexible learning options.
- Technology Integration: Incorporate technology and analytics into the curriculum, providing students with the skills needed to navigate the digital age.
- Partnerships: Collaborate with technology companies and research institutions to develop innovative learning experiences and stay ahead of the curve.
5. Leadership and Management:
- Program Leadership: Appoint a dynamic and experienced leader with a proven track record in global business and education.
- Faculty Engagement: Foster a culture of collaboration and innovation among faculty members.
- Student Engagement: Create a supportive and engaging learning environment that fosters student growth and development.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with the university's mission to provide high-quality education and prepare students for global leadership roles.
- External customers and internal clients: The recommendations address the needs of potential students, employers, and faculty members.
- Competitors: The recommendations aim to differentiate the program from its competitors by offering a unique and relevant curriculum, innovative learning experiences, and a strong alumni network.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to improve program enrollment, increase student satisfaction, and enhance the university's reputation.
Assumptions:
- The university is committed to supporting the revitalization of the LGW program.
- The program's faculty is willing to embrace change and adapt to the new curriculum and teaching methodologies.
- The university has the resources to invest in the necessary infrastructure and technology upgrades.
6. Conclusion
By implementing these recommendations, Fern Fort University can revitalize the LGW program, address its challenges, and capitalize on the opportunities presented by the globalized business environment. The program can become a leading center for global leadership education, attracting a diverse pool of students and contributing to the university's overall success.
7. Discussion
Other Alternatives:
- Shutting down the program: This option would be a significant loss for the university and its students. It would also damage the university's reputation and limit its reach in the globalized business education market.
- Merging the program with another department: This option could potentially lead to a loss of the program's unique identity and focus.
Risks and Key Assumptions:
- Lack of funding: The university may not have the necessary resources to implement all the recommended changes.
- Faculty resistance: Some faculty members may resist the proposed changes, especially those with expertise in traditional areas of business education.
- Market volatility: The globalized business environment is constantly evolving, and the program's curriculum and offerings may need to be continuously updated.
8. Next Steps
- Form a task force: Create a task force composed of faculty, administrators, and students to develop a detailed implementation plan for the revitalization strategy.
- Develop a budget: Secure funding for the proposed changes, including curriculum development, marketing initiatives, and technology upgrades.
- Pilot test new curriculum: Pilot test new curriculum modules and gather feedback from students and faculty.
- Launch marketing campaign: Implement a targeted marketing campaign to attract new students and promote the revitalized program.
- Monitor progress: Regularly monitor the program's progress and adjust the implementation plan as needed.
By taking these steps, Fern Fort University can ensure the success of the revitalized LGW program and its continued contribution to the university's mission.
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Case Description
Meredith, the head of a major division of a financial firm, must confront an unexpected response and challenge from a senior colleague when she proposes shutting down an underperforming unit.
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