Harvard Case - When Governance Rhymes with Turbulence
"When Governance Rhymes with Turbulence" Harvard business case study is written by Tawfik Jelassi, Anouk Lavoie Orlick. It deals with the challenges in the field of Strategy. The case study is 15 page(s) long and it was first published on : Oct 6, 2016
At Fern Fort University, we recommend a multi-pronged approach for Fern Fort University to navigate the turbulent landscape of higher education. This approach focuses on strategic innovation, digital transformation, and building a robust corporate governance framework to ensure long-term sustainability and competitive advantage.
2. Background
Fern Fort University, a prestigious institution with a rich history, is facing a challenging environment characterized by declining enrollment, rising costs, and increasing competition from online learning platforms and other educational providers. The case study highlights the university's struggle to adapt to these changes while maintaining its core values and academic excellence. The main protagonists are the university's leadership, including the President, Provost, and Board of Trustees, who are grappling with the need for strategic change and the potential impact on the university's identity and future.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand reputation and academic excellence.
- Experienced faculty and dedicated staff.
- Strong alumni network and community support.
- Established infrastructure and resources.
Weaknesses:
- Declining enrollment and increasing competition.
- High operating costs and financial pressure.
- Resistance to change and innovation within the institution.
- Limited online presence and digital learning capabilities.
Opportunities:
- Growing demand for online learning and flexible programs.
- Emerging technologies and innovative learning approaches.
- Potential for partnerships and collaborations with other institutions.
- Expanding global reach and attracting international students.
Threats:
- Continued decline in traditional student enrollment.
- Increasing competition from online learning platforms and other educational providers.
- Financial instability and potential for budget cuts.
- Technological disruption and rapid changes in the education landscape.
Porter's Five Forces Analysis:
- Threat of New Entrants: High, due to the rise of online learning platforms and other educational providers.
- Bargaining Power of Buyers: Moderate, as students have more choices and can compare prices and programs.
- Bargaining Power of Suppliers: Moderate, as faculty and staff have some bargaining power, but the university can leverage its reputation to attract talent.
- Threat of Substitutes: High, due to the availability of alternative learning options, such as online courses, boot camps, and self-directed learning.
- Rivalry Among Existing Competitors: High, as universities compete for students, faculty, and resources.
Value Chain Analysis:
Fern Fort University's value chain is characterized by its focus on research, teaching, and community engagement. The university's core competencies lie in its faculty expertise, academic programs, and strong alumni network. However, the university's value chain needs to be adapted to address the changing market dynamics and incorporate digital learning, online platforms, and innovative teaching methods.
Business Model Innovation:
Fern Fort University needs to explore business model innovation to remain competitive. This could involve:
- Developing new revenue streams: Offering online programs, micro-credentials, and professional development courses.
- Expanding partnerships: Collaborating with industry leaders, research institutions, and other educational providers.
- Leveraging technology: Implementing online learning platforms, virtual reality simulations, and personalized learning experiences.
Corporate Governance:
Fern Fort University needs to strengthen its corporate governance framework to ensure transparency, accountability, and strategic decision-making. This includes:
- Board of Trustees: Actively engaging the Board in strategic planning, financial oversight, and risk management.
- Leadership Team: Fostering a culture of innovation, collaboration, and accountability among the leadership team.
- Financial Management: Implementing robust financial controls, risk mitigation strategies, and transparent reporting mechanisms.
4. Recommendations
Develop a Digital Transformation Strategy:
- Invest in online learning platforms and technologies.
- Create high-quality online programs and micro-credentials.
- Develop a robust digital marketing strategy to reach new audiences.
- Enhance faculty training and development in online teaching and learning.
Embrace Innovation and Experimentation:
- Establish an innovation lab or center to explore new teaching methods, technologies, and program formats.
- Encourage faculty and staff to experiment with new ideas and approaches.
- Partner with startups and technology companies to explore emerging trends and opportunities.
Strengthen Corporate Governance:
- Enhance the Board of Trustees' role in strategic planning and oversight.
- Implement a comprehensive risk management framework.
- Strengthen financial controls and reporting mechanisms.
- Foster a culture of transparency and accountability.
Focus on Strategic Partnerships:
- Collaborate with industry leaders to develop relevant and in-demand programs.
- Partner with other educational institutions to offer joint programs and share resources.
- Explore strategic alliances with international universities to expand global reach.
Develop a Sustainable Growth Strategy:
- Identify and target new market segments, such as adult learners, international students, and online learners.
- Develop a clear value proposition that differentiates Fern Fort University from its competitors.
- Implement a data-driven approach to marketing and enrollment management.
5. Basis of Recommendations
These recommendations are grounded in the following principles:
- Core Competencies and Consistency with Mission: The recommendations focus on leveraging Fern Fort University's existing strengths, such as its faculty expertise and brand reputation, while adapting to the changing landscape of higher education.
- External Customers and Internal Clients: The recommendations prioritize the needs of students, faculty, staff, and other stakeholders.
- Competitors: The recommendations consider the competitive landscape and identify opportunities to differentiate Fern Fort University from its rivals.
- Attractiveness: The recommendations are based on a thorough analysis of the university's financial situation, potential return on investment, and long-term sustainability.
6. Conclusion
Fern Fort University faces significant challenges but also has the potential to thrive in the evolving higher education landscape. By embracing innovation, digital transformation, and strong corporate governance, the university can secure its future and continue to provide a valuable education to its students.
7. Discussion
Alternatives:
- Status quo: Continuing with existing practices, which would likely lead to further decline in enrollment and financial instability.
- Mergers and acquisitions: Merging with another institution or acquiring a smaller college to expand reach and resources.
Risks and Key Assumptions:
- Risk of technological disruption: The rapid pace of technological change could render current investments obsolete.
- Risk of financial instability: The university's financial situation could worsen, leading to budget cuts and program closures.
- Assumption of student demand: The assumption that there is a market for online programs and micro-credentials needs to be validated.
8. Next Steps
- Develop a comprehensive strategic plan: This plan should outline the university's vision, mission, goals, and strategies for achieving them.
- Implement a digital transformation roadmap: This roadmap should detail the steps for developing online programs, adopting new technologies, and enhancing the university's online presence.
- Strengthen corporate governance: This includes reviewing and revising policies, procedures, and practices to ensure transparency, accountability, and strategic decision-making.
- Establish a dedicated innovation team: This team will be responsible for exploring new ideas, experimenting with new approaches, and fostering a culture of innovation within the university.
- Develop a communication strategy: This strategy will ensure that all stakeholders are informed about the university's plans and progress.
By taking these steps, Fern Fort University can navigate the turbulent landscape of higher education and secure its future as a leading institution of learning.
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Case Description
Tunisia has been the only country to emerge from the Arab Spring with a successful transition to democracy. This case focuses on a critical period in this transition process, when the country appointed an interim government. The case zooms in on the leadership and governance challenges of this "caretaker" administration during its one-year mandate in 2014-2015. In order to convey the highly turbulent environment this government faced, the story centers on one of the cabinet ministers and his struggle to deal with students' protests, labor strikes and threats to national security. It also outlines the challenge of making ethical decisions and pursuing much-needed reforms in this context. The protagonist of the case - the Minister of Higher Education, Scientific Research and Information & Communication Technologies, Mr Tawfik Jelassi - is unusual in that he was a business school professor and dean with no political experience, who was plunged into a new environment and expected to "sink or swim." He had to learn to map out the constellation of stakeholders who were important to his decision-making and to understand the dynamics of political conflicts. He was a member of a diverse team: non-partisan "technocrats" coming from different sectors and countries. An esprit-de-corps and high-level coordination enabled the government team to achieve the objectives set by the country's National Dialogue Quartet at the outset of their mandate. In 2015, Tunisia was awarded the Nobel Peace Prize for having built a pluralistic democracy. The Norwegian Nobel Committee stated that: "The ultimate validation of the Quartet's historical effort came in the autumn of 2014, when the parliamentary and presidential elections were carried out. Both the technocratic government and the interim president resigned and were replaced by lawfully elected successors."
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