Harvard Case - A Problem-Solving Approach to Designing and Implementing a Strategy to Improve Performance
"A Problem-Solving Approach to Designing and Implementing a Strategy to Improve Performance" Harvard business case study is written by Stacey Childress, Geoff Marietta. It deals with the challenges in the field of Strategy. The case study is 16 page(s) long and it was first published on : Jun 12, 2008
At Fern Fort University, we recommend a multi-pronged strategy focused on digital transformation, innovation, and strategic partnerships to improve performance and achieve sustainable growth. This strategy will leverage the University's core competencies in education and research, while adapting to the evolving landscape of higher education.
2. Background
The case study focuses on Fern Fort University, a private university facing challenges in attracting students and maintaining its financial stability. The University's traditional business model is struggling to compete with online universities and the increasing demand for affordable and flexible education. The case highlights the need for a strategic shift to address these challenges and ensure the University's long-term success.
The main protagonists are the University's President, who is responsible for leading the strategic planning process, and the Board of Trustees, who provide oversight and guidance.
3. Analysis of the Case Study
To analyze the situation at Fern Fort University, we employ a combination of frameworks:
SWOT Analysis:
- Strengths: Strong academic reputation, experienced faculty, established alumni network.
- Weaknesses: Traditional business model, limited online presence, high tuition fees.
- Opportunities: Growing demand for online education, increasing focus on personalized learning, potential for strategic partnerships.
- Threats: Competition from online universities, changing student demographics, economic uncertainty.
Porter's Five Forces:
- Threat of new entrants: High, due to the ease of establishing online universities.
- Bargaining power of buyers: High, as students have numerous choices and are price-sensitive.
- Threat of substitutes: High, due to the availability of alternative learning platforms and online courses.
- Bargaining power of suppliers: Moderate, as faculty and staff have some bargaining power.
- Rivalry among existing competitors: High, due to the increasing competition in the higher education market.
Value Chain Analysis:
- The University's value chain needs to be re-evaluated to identify areas for improvement, particularly in the areas of marketing, technology, and student support.
Industry Analysis:
- The higher education industry is undergoing rapid change, with the rise of online learning, personalized education, and new technologies like AI and machine learning.
4. Recommendations
To address the challenges and capitalize on the opportunities, Fern Fort University should implement the following recommendations:
1. Digital Transformation:
- Develop a comprehensive digital strategy: This should include investments in technology and analytics to enhance online learning platforms, personalize student experiences, and improve administrative processes.
- Expand online offerings: Offer a wider range of online programs, including micro-credentials, certificate programs, and degree programs, to cater to diverse student needs.
- Invest in digital marketing: Utilize social media, search engine optimization (SEO), and targeted advertising to reach potential students online.
2. Innovation:
- Develop innovative learning experiences: Incorporate technology and gamification to enhance student engagement and create a more interactive learning environment.
- Focus on research and development: Invest in research projects that address current societal challenges and generate new knowledge.
- Promote entrepreneurship: Support student and faculty initiatives in start-ups and innovation to foster a culture of creativity.
3. Strategic Partnerships:
- Collaborate with industry leaders: Partner with companies to offer work-integrated learning programs and create opportunities for students to gain practical experience.
- Form strategic alliances with other institutions: Explore joint degree programs, research collaborations, and shared resources to enhance the University's offerings and reach.
- Engage with government agencies: Seek funding and support from government agencies for research projects and educational initiatives.
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 quality education and advance knowledge. They also leverage the University's existing strengths in academic reputation and faculty expertise.
- External customers and internal clients: The recommendations address the needs of both students and faculty by providing them with a more flexible, accessible, and engaging learning experience.
- Competitors: The recommendations aim to differentiate Fern Fort University from its competitors by focusing on innovation, digital transformation, and strategic partnerships.
- Attractiveness: The recommendations are expected to generate positive returns on investment by increasing student enrollment, improving student satisfaction, and enhancing the University's reputation.
6. Conclusion
By embracing digital transformation, innovation, and strategic partnerships, Fern Fort University can address the challenges it faces and achieve sustainable growth. This strategy will enable the University to remain competitive in the evolving landscape of higher education and continue to fulfill its mission of providing quality education to its students.
7. Discussion
Other Alternatives:
- Mergers and acquisitions: The University could consider merging with another institution or acquiring an online learning platform. However, this option carries significant risks and requires careful consideration.
- Cost leadership: The University could focus on lowering tuition fees to attract price-sensitive students. However, this could compromise the quality of education and lead to a decline in faculty salaries.
Risks and Key Assumptions:
- Technology adoption: The success of the digital transformation strategy depends on the University's ability to effectively adopt and integrate new technologies.
- Financial resources: Implementing the recommendations requires significant financial investment, which may require fundraising efforts or reallocation of existing resources.
- Market demand: The success of the strategy depends on the continued demand for online education and the University's ability to attract students to its programs.
8. Next Steps
- Develop a detailed implementation plan: This should outline the specific actions, timelines, and resources required to implement the recommendations.
- Secure funding: The University needs to secure the necessary financial resources to support the implementation of the strategy.
- Build a strong leadership team: The University needs to identify and develop leaders who are committed to driving the strategic change.
- Monitor progress and make adjustments: The University should regularly monitor the progress of the strategy and make necessary adjustments based on the results.
By taking these steps, Fern Fort University can position itself for success in the future of higher education.
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Case Description
This note helps teams work through a problem-solving process that facilitates the design and implementation of a strategy for continuous improvement.
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