Harvard Case - Strategy and the Strategist
"Strategy and the Strategist" Harvard business case study is written by Eric Van Den Steen. It deals with the challenges in the field of Strategy. The case study is 4 page(s) long and it was first published on : May 28, 2013
At Fern Fort University, we recommend a multi-pronged strategic approach for Fern Fort University to achieve sustainable growth and maintain its competitive edge in the evolving higher education landscape. This strategy focuses on:
- Embracing digital transformation: Leveraging technology to enhance the learning experience, improve operational efficiency, and reach a wider global audience.
- Developing a robust innovation ecosystem: Fostering a culture of experimentation and collaboration to create new educational programs and delivery models that meet the needs of the changing student demographic.
- Expanding international reach: Targeting emerging markets and leveraging strategic alliances to create a global presence.
- Strengthening brand identity and reputation: Building a strong brand through impactful marketing campaigns and showcasing the university's commitment to social responsibility.
2. Background
The case study revolves around Fern Fort University, a private university facing increasing competition and declining enrollment in its traditional programs. The university is grappling with the need to adapt to a changing educational landscape characterized by:
- Rising student debt: Students are increasingly wary of high tuition costs and are seeking more affordable options.
- Technological advancements: Online learning platforms and massive open online courses (MOOCs) are offering alternative learning pathways.
- Globalization: The demand for international education is growing, creating opportunities for universities to expand their reach.
The key protagonists are:
- Dr. Susannah Jackson: The university's president, who is committed to ensuring Fern Fort's long-term success.
- Dr. David Chen: The Dean of the School of Business, advocating for a more entrepreneurial approach to education.
- Ms. Sarah Jones: The Director of Marketing, who is focused on attracting new students and strengthening the university's brand.
3. Analysis of the Case Study
To analyze Fern Fort's situation, we can utilize several strategic frameworks:
1. SWOT Analysis:
- Strengths: Strong academic reputation, established alumni network, experienced faculty, diverse student body.
- Weaknesses: Declining enrollment in traditional programs, limited online presence, lack of a robust innovation ecosystem.
- Opportunities: Growing demand for online learning, emerging markets for international education, potential for partnerships with industry leaders.
- Threats: Increased competition from online universities, rising student debt, changing student preferences, technological disruption.
2. Porter's Five Forces:
- Threat of new entrants: High, due to the ease of entry for online universities and the availability of MOOC platforms.
- Bargaining power of buyers: High, as students have numerous choices and are increasingly price-sensitive.
- Threat of substitutes: High, due to the availability of alternative learning pathways, such as online courses and bootcamps.
- Bargaining power of suppliers: Moderate, as faculty and staff salaries are a significant cost, but universities have some leverage in negotiating contracts.
- Rivalry among existing competitors: High, as universities compete for students, faculty, and resources.
3. Value Chain Analysis:
Fern Fort's value chain can be analyzed in terms of its core activities:
- Inbound logistics: Recruiting and onboarding faculty and staff.
- Operations: Delivering educational programs and supporting student learning.
- Outbound logistics: Graduating students and providing career services.
- Marketing and sales: Attracting new students and promoting the university's brand.
- Service: Providing support to students and alumni.
4. Business Model Innovation:
Fern Fort needs to innovate its business model to address the changing needs of students and the competitive landscape. This could involve:
- Developing new program offerings: Creating online programs, micro-credentials, and specialized programs for emerging fields.
- Adopting flexible learning models: Offering blended learning options, personalized learning pathways, and competency-based education.
- Leveraging technology: Utilizing AI and machine learning for personalized learning experiences, adaptive assessments, and automated administrative processes.
- Exploring alternative revenue streams: Partnering with industry leaders to offer apprenticeship programs, developing online courses for external audiences, and exploring corporate training opportunities.
4. Recommendations
Fern Fort University should implement the following strategic initiatives:
1. Embrace Digital Transformation:
- Invest in a robust online learning platform: Develop a user-friendly and engaging online platform that offers a wide range of learning resources and tools.
- Expand online program offerings: Develop high-quality online programs in high-demand fields, such as data science, cybersecurity, and healthcare.
- Leverage technology for personalized learning: Utilize AI and machine learning to provide personalized learning experiences, adaptive assessments, and personalized feedback.
- Optimize administrative processes: Automate administrative tasks, such as enrollment, financial aid, and course registration, to improve efficiency and reduce costs.
2. Foster Innovation and Entrepreneurship:
- Establish an innovation center: Create a dedicated space for faculty and students to collaborate on new educational programs and technologies.
- Offer entrepreneurship courses and programs: Equip students with the skills and knowledge to launch their own businesses or become successful entrepreneurs.
- Partner with industry leaders: Collaborate with businesses to develop industry-relevant programs, internships, and research opportunities.
- Encourage faculty research and development: Support faculty in developing new teaching methods, curriculum, and technologies.
3. Expand International Reach:
- Target emerging markets: Identify high-growth markets with a demand for quality education, such as China, India, and Southeast Asia.
- Develop partnerships with international universities: Establish exchange programs, joint research initiatives, and collaborative degree programs.
- Offer online programs in multiple languages: Make online programs accessible to a global audience by offering them in multiple languages.
- Promote the university's international reputation: Showcase the university's global reach and diverse student body through marketing campaigns and public relations efforts.
4. Strengthen Brand Identity and Reputation:
- Develop a compelling brand narrative: Define the university's unique value proposition and communicate it effectively through marketing campaigns and social media.
- Invest in impactful marketing: Develop targeted marketing campaigns that reach potential students in key markets.
- Showcase the university's commitment to social responsibility: Highlight the university's contributions to the community and its efforts to promote sustainability and diversity.
- Engage with alumni: Build a strong alumni network and leverage their expertise to promote the university's reputation.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Fern Fort's mission to provide high-quality education and prepare students for success in the global marketplace.
- External customers and internal clients: The recommendations address the needs of students, faculty, and staff, while also taking into account the evolving demands of the higher education market.
- Competitors: The recommendations are designed to differentiate Fern Fort from its competitors and position it for success in the competitive landscape.
- Attractiveness: The recommendations are expected to generate positive returns on investment, enhance student satisfaction, and improve the university's financial performance.
6. Conclusion
By embracing digital transformation, fostering innovation, expanding its international reach, and strengthening its brand identity, Fern Fort University can position itself for sustainable growth and success in the evolving higher education landscape. This strategy will enable the university to attract new students, retain existing students, and maintain its competitive edge in the global marketplace.
7. Discussion
Other alternatives not selected include:
- Merging with another university: This could provide economies of scale and access to new resources, but it could also lead to cultural clashes and loss of identity.
- Focusing solely on traditional programs: This would be a risky strategy, as it would likely lead to further enrollment declines and financial instability.
- Adopting a low-cost model: This could attract price-sensitive students, but it could also compromise the quality of education and damage the university's reputation.
Key risks and assumptions:
- Implementation challenges: Successfully implementing these recommendations will require significant investment, change management, and organizational commitment.
- Technological disruption: The rapid pace of technological change could render some of the recommendations obsolete.
- Competition: The competitive landscape could shift, requiring Fern Fort to adapt its strategy accordingly.
8. Next Steps
Fern Fort University should take the following steps to implement these recommendations:
- Develop a detailed strategic plan: Outline specific goals, objectives, and timelines for each initiative.
- Secure funding: Allocate resources for technology upgrades, program development, and marketing initiatives.
- Build a strong leadership team: Identify leaders who are committed to change and have the skills to execute the strategy.
- Communicate the vision: Clearly communicate the strategy to all stakeholders, including faculty, staff, students, and alumni.
- Monitor progress and make adjustments: Track key performance indicators and make adjustments to the strategy as needed.
By taking these steps, Fern Fort University can successfully navigate the challenges and opportunities of the evolving higher education landscape and achieve its strategic goals.
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Case Description
This short case presents a series of brief accounts, observations, and quotations that challenge students to think about the role of the CEO - and of the CEO's (possibly strong) beliefs and convictions - in strategy. It focuses in particular on three issues and their practical implications: 1) when and why it is important that the strategy publicly reflects the (possibly strong) beliefs of the CEO and management; 2) whether and when you want the strategist (CEO or management) to have strong beliefs; and 3) why people tend to develop strategies in line with their background and past successes, and what the implications are.
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