Harvard Case - The Tale of Two Peregrines
"The Tale of Two Peregrines" Harvard business case study is written by Amy Lau, Agnes K.Y. Tai. It deals with the challenges in the field of General Management. The case study is 29 page(s) long and it was first published on : Jun 26, 2013
At Fern Fort University, we recommend a strategic partnership between the two peregrine falcon programs, leveraging their unique strengths and resources to create a sustainable and impactful conservation model. This partnership will focus on knowledge sharing, joint research initiatives, and collaborative fundraising, ultimately leading to the expansion of both programs and the conservation of the species across a wider geographical area.
2. Background
The case study 'The Tale of Two Peregrines' presents the story of two successful peregrine falcon conservation programs: the Peregrine Fund and the World Wildlife Fund (WWF). Both organizations have achieved significant success in reintroducing the species to various parts of the world, but they face challenges in scaling their efforts and securing long-term funding. The Peregrine Fund boasts a strong scientific foundation and a proven track record in captive breeding and reintroduction, while the WWF possesses a global network and significant fundraising capabilities.
The main protagonists of the case are:
- Dr. Tom Cade: The founder and director of the Peregrine Fund, a highly respected scientist with a deep understanding of peregrine falcon biology and conservation.
- Dr. David Wilcove: The director of the WWF's Wildlife Conservation Program, a visionary leader focused on global conservation efforts and strategic partnerships.
3. Analysis of the Case Study
To analyze the case, we can utilize a framework that considers both internal and external factors influencing the success of the programs:
Internal Factors:
- Strengths:
- Peregrine Fund: Strong scientific expertise, successful captive breeding program, extensive field experience.
- WWF: Global network and brand recognition, proven fundraising capabilities, strong communication and outreach strategies.
- Weaknesses:
- Peregrine Fund: Limited financial resources, reliance on grants and donations, smaller scale of operations.
- WWF: Limited scientific expertise in peregrine falcon conservation, potential for resource allocation conflicts within the organization.
- Opportunities:
- Both: Potential for collaboration and knowledge sharing, access to new funding sources, expansion of conservation efforts to new regions.
- Threats:
- Both: Climate change and habitat loss, potential for emerging diseases, competition for resources from other conservation organizations.
External Factors:
- Porter's Five Forces:
- Threat of new entrants: Moderate, as establishing a successful peregrine falcon conservation program requires significant expertise and resources.
- Bargaining power of buyers: Low, as the programs primarily rely on donations and grants from individuals and foundations.
- Bargaining power of suppliers: Moderate, as the programs rely on specialized equipment and expertise from various suppliers.
- Threat of substitutes: Low, as there are few alternative organizations focused on peregrine falcon conservation.
- Rivalry among existing competitors: Moderate, as several organizations compete for funding and resources for similar conservation goals.
SWOT Analysis:
The SWOT analysis reveals that both organizations possess unique strengths that can complement each other. However, they also face challenges in terms of financial resources and scaling their operations. A strategic partnership can address these challenges and unlock new opportunities for both organizations.
Strategic Planning:
- Mission Alignment: Both organizations share a common mission of protecting the peregrine falcon and its habitat. A partnership can strengthen their commitment to this mission and enhance their impact.
- Vision: The partnership can envision a future where peregrine falcons thrive across a wider geographical area, with a robust conservation network supporting their long-term survival.
- Goals: The partnership should set clear, measurable, achievable, relevant, and time-bound goals, such as increasing the number of reintroduced peregrine falcons, expanding the geographical reach of conservation efforts, and securing long-term funding.
4. Recommendations
To achieve the goals outlined above, we recommend the following actions:
1. Establish a Formal Partnership Agreement:
- Define the roles and responsibilities of each organization within the partnership.
- Establish a joint steering committee with representatives from both organizations to oversee the partnership's progress and decision-making.
- Develop a clear communication strategy to ensure transparency and collaboration between the organizations.
2. Leverage Complementary Strengths:
- Scientific Expertise: The Peregrine Fund can provide its scientific expertise and captive breeding program to support the WWF's global conservation efforts.
- Fundraising and Outreach: The WWF can leverage its global network and fundraising capabilities to secure funding for the partnership and expand the reach of conservation efforts.
- Knowledge Sharing: Both organizations can share their knowledge and best practices in peregrine falcon conservation through joint research initiatives, training programs, and publications.
3. Develop Joint Research Initiatives:
- Population Monitoring: Conduct collaborative research to monitor peregrine falcon populations across their range, identify threats, and track the effectiveness of conservation efforts.
- Habitat Management: Develop strategies for managing and restoring peregrine falcon habitat, considering factors such as climate change and human encroachment.
- Disease Prevention: Research the potential for emerging diseases to impact peregrine falcon populations and develop mitigation strategies.
4. Implement a Collaborative Fundraising Strategy:
- Joint Grant Proposals: Submit joint grant proposals to foundations and government agencies to secure funding for the partnership's activities.
- Public Awareness Campaigns: Develop joint public awareness campaigns to raise awareness about the importance of peregrine falcon conservation and encourage public support.
- Corporate Partnerships: Explore partnerships with corporations that share a commitment to environmental sustainability and conservation.
5. Foster a Culture of Collaboration:
- Regular Communication: Establish regular communication channels between the organizations to facilitate information sharing, coordination, and conflict resolution.
- Joint Training Programs: Develop joint training programs for staff members from both organizations to enhance their skills and knowledge in peregrine falcon conservation.
- Cross-Organizational Teams: Create cross-organizational teams to work on specific projects and initiatives, fostering a sense of shared ownership and responsibility.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission Alignment: The partnership leverages the core competencies of each organization, aligning with their shared mission of peregrine falcon conservation.
- External Customers and Internal Clients: The partnership benefits both organizations' external customers (donors, supporters, and the public) by expanding their reach and impact. It also benefits internal clients (staff members) by providing opportunities for professional development and collaboration.
- Competitors: The partnership strengthens the organizations' competitive advantage by creating a more comprehensive and impactful conservation model.
- Attractiveness: The partnership offers significant potential for long-term sustainability and impact, with the potential to secure substantial funding and expand the reach of conservation efforts.
- Assumptions: The recommendations assume a willingness to collaborate and compromise from both organizations, as well as a shared commitment to the success of the partnership.
6. Conclusion
The partnership between the Peregrine Fund and the WWF presents a unique opportunity to create a sustainable and impactful peregrine falcon conservation model. By leveraging their complementary strengths, developing joint research initiatives, and implementing a collaborative fundraising strategy, the organizations can significantly enhance their conservation efforts and ensure the long-term survival of this iconic species.
7. Discussion
Alternative options to the partnership include:
- Merger: A merger between the two organizations could create a single, powerful entity with greater resources and reach. However, this option would require significant organizational restructuring and potentially lead to cultural clashes.
- Competition: The organizations could continue to operate independently, competing for funding and resources. This option would limit their impact and potentially lead to duplication of efforts.
The partnership approach offers a more balanced and sustainable solution, allowing both organizations to maintain their independence while working together to achieve a common goal.
Risks and Key Assumptions:
- Cultural Differences: The organizations may have different organizational cultures and operating styles, which could create challenges in collaboration.
- Resource Allocation: The organizations may need to adjust their resource allocation to support the partnership, potentially impacting other programs.
- Leadership Commitment: The success of the partnership relies on strong leadership commitment from both organizations.
8. Next Steps
To implement the recommendations, the following steps should be taken:
- Timeline:
- Year 1: Establish the partnership agreement, develop joint research initiatives, and implement a collaborative fundraising strategy.
- Year 2: Expand the reach of conservation efforts, develop joint public awareness campaigns, and strengthen the partnership through staff training and cross-organizational teams.
- Year 3: Evaluate the progress of the partnership, adjust strategies as needed, and prepare for long-term sustainability.
- Key Milestones:
- Signing of the partnership agreement.
- Launch of the first joint research initiative.
- Securing significant funding from a major grant or foundation.
- Successful implementation of a joint public awareness campaign.
- Development of a comprehensive strategic plan for the partnership.
By following these steps, the Peregrine Fund and the WWF can create a lasting legacy for peregrine falcon conservation, ensuring the survival of this magnificent species for generations to come.
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Case Description
Founded in 1980, Peregrine Financial Group, Inc. ("PFG") was incorporated in 1992 as a futures commission merchant in the USA and officially registered with the National Futures Association, specializing in commodities and foreign exchange futures brokerage services. In 2008 PFG was rebranded as PFGBest, it purported to have customers in more than 80 countries and more than US$600 million in customer assets by 2012. On 10 July 2012 PFG filed for Chapter 7 protection after its founder and chairman, Russell Wasendorf, Sr. attempted suicide. In his suicide note, he described his fraudulent act of embezzled as much as US$220 million from PFG's bank accounts in the past 20 years. He admitted that his ego was too big to admit failure and so he cheated. A totally unrelated company Peregrine Investment Holdings Limited ("PIHL") was founded in 1988 by former Citibankers Philip Tose and Francis Leung who were backed by many of Hong Kong's business elites. It was "Asia's only indigenous investment bank" and took prominent roles in the local bourses. PIHL underwrote a US$265 million bond issue by Steady Safe, an Indonesian transportation company, which collapsed by the end of 1997. In January 1998 PIHL was forced into liquidation after it lost all liquidity and failed to get white knights or emergency relief from the Hong Kong Monetary Authority. A report commissioned by the Hong Kong Government cited poor risk management and flawed internal control as the causes for the downfall of PIHL. .
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