On pages 22-24 of the book (The Forever Transaction), the author discusses how to put a Business Case Together for developing a “forever transaction”. Keep in mind she is a professional management consultant for major Fortune 500 corporations. However, this exercise is beneficial for a number of reasons. As you move upward in your career/business, you will likely be put in a position of having to make critical decisions about the organization and its direction/strategies. We know from our study of CRM thus far that most businesses desire to move toward a recurring subscription revenue model, or at least develop an ongoing relationship with the customer that creates value for both parties.
1) First, review the questions from the Template: Your Business Case for the Forever Transactionon pages 22-24.
2) Next, choose an organization that you are familiar with either as a customer or an employee/owner. This could be a small to medium business that you currently work for or have worked for in the past. Or, it could be a large corporation that you do business with (Apple, Netflix, Nike, etc.).
3) Now imagine that you are in a position of being tasked with developing the forever transaction business case/model for this organization.
4) Write a memo that that attempts to answer/address the questions in bold from the book (see list below) to provide reasoning as to how you will approach this process (please restate the questions, memo format is acceptable).
See Rubric for grading details…
Note: if you pick a large established organization like Apple, Nike, etc., then they likely already have a very established forever transaction model in place. But it still makes sense for you to analyze this and give your opinions/reasoning as to how you think they should/would approach these topics and how you think they can improve their strategy.
Minimum Questions to be Addressed:
What’s the Business Rationale?
What’s Our Forever Promise?
What Do We Need in Order to Execute on the Vision?
What Are the Risks of This Strategy?
What Early Steps, Research, and Tests are Needed?
What are the Criteria for Board (or for our purposes, Stakeholder) Support?