Problem Solution: Harrison Keyes
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Problem Solution: Harrison-Keyes Inc.
Harrison-Keyes (HK) is a century old leader in the publishing business. Due to recent changes in the industry, the company is in the process of redefining itself in the market. HK wants to implement an e-book project to convert select titles to an e-book format, and then to begin offering all new publications in dual format and some in e-book format only. However, the project HK began has run into some serious problems, and now a strategic plan is required to overcome the many potential problems realized. This paper is intended to give an overview of a variety of possible alternate plans and, ideally, a new strategic plan that aims to remedy this problem and the implementation process associated therewith.
Issue and Opportunity Identification
The most significant issue HK now faces is that it has started this e-book project with no contingency or backup plan in place, and now has to accommodate for that . Thus, HK has the opportunity to develop a new strategic management plan in order to make corrections to the project, and develop contingency plans to manage risk. A major element of the risk control process is change management. Not every detail of a project plan will materialize as expected and coping with and controlling project changes often presents formidable challenges for most project managers. Changes come from many sources, such as the project customer, owner, project manager, team members, and occurrence of risk events (Gray & Larson, 2006).
Another significant issue is that HK still has very little project leadership. Jan seems to have taken control of the project, but still appears to be in over her head as the project flounders without energizing leadership or skilled management of the details. The new CEO, William Guardo, has seemingly taken the position that he has no ownership of the project, putting the task of cleaning it up entirely in Jan’s hands. Thus, since Jan is eager to be promoted, this offers her an excellent opportunity to focus on energizing the teams implemented for this project with the strategic vision, and delegate the complex details of managing the various aspects of the project. At the same time, she has the opportunity to look into new methods of getting this project cleaned up, which may include bringing in outside resources to help get it back on track.
A third issue at HK is that the marketing efforts for this project need reconditioning as they have proven to be less effective than anticipated. This creates an opportunity to revisit the original estimates of revenues, and reevaluate the underlying assumptions. Assuming the original revenue projections were based on some type of comparison, that comparison may be useful in re-energizing the marketing effort. A cost or time estimate usually has a better chance of being reasonable and realistic when several people with relevant experience and/or knowledge of the task are used (Gray & Larson, 2006).
Lastly, HK has almost nobody in the company that supports the e-book project, including the new CEO. This offers the company the opportunity to form better relationships with all the stakeholders while, at the same time, expanding their business, and turning a profit.
Stakeholder Perspectives/Ethical Dilemmas
The primary stakeholders at HK are the board, the senior team, the investors, the management, the employees, and the customers. William Guardo needs to look for ways to strengthen the company and turn profits around as quickly as possible so as not to lose more shareholders, as well as to prove himself within the company. Senior management has not been able to come together to agree on the course of action in the e-book project, which is affecting the morale and the role of the employees, which, in turn, is causing the company to lose valuable employees. Some authors are not in favor of e-books, fearing they will lose influence and respect amongst readers when authors refuse to have their works published electronically. The customers are likely to purchase a top quality product at a competitive price from a sound company, and thus far, HK has seen some profit, yet not nearly the profit they expected. HK needs to ensure that the authors and the customers are satisfied, and needs to choose the best solutions to satisfy all stakeholders. In order to do that, HK will need to find a way to gather the support of all stakeholders and get the project back on track.
Frame the “Right” Problem
I believe the “right” problem for HK is that they lack strategic management processes relating to this project. I believe HK wants to become a successful publisher in competitive platforms, but they do not have sound processes in place to help themselves leverage their strengths while compensating for their weaknesses. This problem statement takes into consideration all stakeholders and focuses on the future of the organization as a whole, rather than just focusing on the current problem at hand. This statement is clear and allows for multiple solutions, which, therefore, allows for the creation of appropriate end-state goals.
Describe the “End-State” Vision
End-state goals are usually long-term and aligned with the strategic vision and strategic objectives. HK has become a well-known content provider to targeted interest communities across multiple platforms. The company has competitive policies and practices with authors, employees, distributors, vendors, and customers. The company has competitive capabilities and skill sets to provide content in the media of choice for users. Taking all of this into account, I feel the specific end-state goals HK should follow are to: 1) acquire and become proficient in new processes, technologies, and skills; 2) reverse the market-share decline; 3) reverse declining profitability; and 4) bring stakeholders together in support of providing content across multiple platforms.
Identify the Alternatives and Benchmarking Validation
When addressing HK’s issues for assessing project risks and their impact on outcomes, HK could look to Microsoft as an aid. To be effective in project planning and implementation, HK must be able to address risk and uncertainty. Because there is uncertainty, it is not possible to predict project outcomes with 100% accuracy. If HK wants to be successful in implementing their e-publishing project, they must first determine what the risks are. HK could adopt similar methods as those utilized by Microsoft, which include 1) designing 1) a project plan and an implementation strategy that will identify and analyze risk, 2) plan