Private: Wise Systems
Kristin Ader, Zeren Huang, Chaewon Jung, Madelyn Long, Monica Perezagua Sanchez-Beato
Subject Area: Business Strategy
Region: United States
Company: Wise Systems [the name of the company is disgused on the client’s request]
Project’s Relevance: Team Composition
This project was relevant for each of us in different ways:
- Kristin: I’m interested in marketing careers in technology, and found researching the industry and competitors to be an educational and interesting part of this project. I appreciated the opportunity to be exposed to a company unlike any companies I have worked for in the past and to challenge myself to make feasible but impactful recommendations.
- Madelyn: I am very interested in data analysis and statistics. Getting the chance to work on an in-depth internal and external analysis of a real firm and seeing how effective strategy is formed by finding connections between external opportunities and internal strengths has been very interesting. I enjoyed the opportunity to get a more qualitative understanding of analysis and I believe it will help me greatly improve my quantitative analytical skills.
- Monica: I have always been interested in marketing and understanding the changing environment is essential when determining how to position oneself. I have not previously had experience with technology companies but it is an interesting industry to study as I believe that software technologies will drive the market in any industry.
- Chaewon: I had the opportunity to do my last co-op with the Wise Systems Marketing team, then continued on part-time as I finished my last semester of school. Having committed to join the company full-time post-graduation, this project has allowed me to integrate the work I do for the company as well as the topics I’ve learned in this Strategy course. It’s given me further insight into how to apply and approach strategy into my work at Wise Systems, while also giving me a chance to understand and analyze the company through a different lens.
- Zeren: I am really interested in data analysis because I enjoy applying what I learned in the Math class to the actual world. It is very interesting and sometimes it is challenging when I solve real problems. I think that this project is also a great opportunity to learn how strategy works in a real company, and I believe that the project can enhance my quantitative and analytic skills.
Connecting with the Company’s Reality:
- Our main connection with the company was our teammate, Chaewon. Chaewon personally works at the company and she collected internal details, with the permission of the client. As a team, we wanted to understand the issues that those that are in the company face in order to properly come to a recommendation that would actually be viable. One of the most important aspects of being a consultant and a leader is to also be a listener. We supplemented our primary data with secondary research into the Logistics SaaS market and competitors in that space.
Generating Value and Investing in Professional Capital: Findings and Recommendations
- To analyze the organization and the two possible solutions to the problem, we used various frameworks such as SWOT, PESTEL, VRIO, and Five Forces, and we determined that the best course of action for Wise Systems would be to pursue a differentiation strategy. We used our strategic planning knowledge as well as in-depth research to come to this conclusion, and hopefully, the company can use this research when deciding what their next steps are as an organization.
- This project was a learning and growth opportunity for each of us. Below are our reflections on this project:
- Kristin: I plan to utilize the skills I learned through this project to establish myself as a detail-oriented strategic decision-maker as I begin my career in e-commerce retail. This project helped me apply what I have learned in my undergraduate classes to a real-world case and I am grateful to have had this experience as it helped me build confidence in my business analysis skills.
- Madelyn: After graduation, I am working as a health and benefits consultant where I will be collaborating with several clients. A big aspect of my job is data analysis and benchmarking clients’ benefit offerings with those of competitors. This project has helped to give me a good understanding of how to effectively analyze internal and external environments in order to create a solid strategy and forge a competitive advantage. I feel more confident in my analytical and consulting skills after this process and I know I will be able to better help my clients going forward.
- Monica: Going forward, I plan on utilizing the consulting report structure when facing a problem. I believe that this project and the class as a whole have taught me how to approach difficult situations where I have to step back, analyze, formulate, and finally plan how to implement the decision. I think this is something that is applicable to anything in life both personally and professionally.
- Chaewon: As I continue my career at Wise Systems post-grad, I hope to capitalize on this project by utilizing the skills and knowledge I’ve gained about strategy and industry/business analysis – specifically for the company I’m working for. This has been a unique opportunity to also show my employer that I have spent time researching and learning about the company with the widened perspective of a strategic consultant.
- Zeren: After graduation from the master’s program, I would like to seek an actuarial position. After I pass all SOA exams and have more work experience, I believe that I will have a higher position in the company while I will participate more in companies’ decision-making. This project is a great start for me to learn how to define the challenge, analyze the situation and make the right decision. It would also be really helpful if I run my own business.