Strayer University Revenue Generation Systems Response
Description
How will you fund the startup and ongoing costs for your strategic initiative?
- The funding for the initiative will be requested through the Capex/Opex process for the initial investment for infrastructure and platform enhancements. This will then need to be prioritized for development. The initial request will also be for the initial development resource needs and marketing.
How will your plan improve the organizations financial health relative to its competitors?
Because we will be able to focus on enhancements in conversions and takes rates we will see a decrease in Churn and ultimately attract new prospects based on the new offerings. The other factor is the edge we will have as for the most part there will not be a need for a large expense for infrastructure enhancements as well as the value proposition will be unique to attract and keep customers.
- How does your plan compare to your companys average (or industry average) profit margins for similar projects or services?
The plan shows a high profit margin compared to current as well as other projects. This is because this initiative is tied to several cross functional teams as well as an emphasis on process and experience.
Why is your proposed plan superior to other options to strengthen the long-term financial health of the organization?
- This would be a continuous effort that would evolve over time opposed to incremental work for a small segment of customers and or enhancement work due to defects. Additionally as noted before, there will be procedural enhancements that will assist with costs due to process and systems defects.
Provide a summary of how you arrived at your investment, revenue, and cost forecasts.
Because this is a new service, there will be an associated fee enhancement that will be assessed for the options that will assist with revenue generation. Because we will be making enhancements to processes and systems we will see less defects and the need to correct customers accounts as well as a reduction in Call in Rate. I reviewed costs over 2019 and 2020 and prepared assumptions based on those numbers.
- References:
Davenport, T.H. & Kim, J. (2013).Keeping Up with the Quants: Your Guide To Understanding + Using Analytics. Boston, MA: Harvard Business Review Press
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