Over the years, universities have always been facing serious challenges with respect to financial issues. At times, students have ended up giving up their dreams due to disruptions caused by lack of adequate finance. In addition, the respective students after studying for many years end up in the streets due to lack of employment. As a result, they end up indulging in unethical behaviors despite being educated. Virgin money is one of the organizations which offer financial services to South Africa, Australia and the United Kingdom (French et al, 2013 p.34). Initially the organizations services were offered in the United States only. However, it is important to note that the services offered vary in the different branches since they are independent from each other.
Since one of the company’s mission is to offer support to the society, different strategies have been formulated to assist learning in different institutions. The financial institution is expecting to design ways in which it will be able to assist the society in general apart from the profit motive. In order to achieve the aforementioned objective, the institution is in the process of designing the product roadmap which is to be followed to establish the minimal viable product (MVP. The platform to be formulated is expected to address the respective challenges within the university. Some of the major issues to be addressed by the minimal viable product include development of programmes which will be able to empower students in order to achieve their dreams in life. On the other hand, the financial institution has its own objectives which it aims to attain. This paper mainly focuses on the different strategies to be followed to strike a balance between the objectives of the institution and the university.
In order to ensure that the program is a success, various procedures must be followed in a move to boost confidence from students, academics and staff. The success of a minimal product depends on the strategies to be followed (Mc Kee & Eraut, 2012 p.10). In order to ensure that the respective parties are attracted by the programme, the institution should strategize on reward based programmes. Such programmes may include challenge mentor programmes. These respective mentor programmes should be carried out in 3 sessions. During these three sessions, 3 winners should be selected after which rewards should be made to them. Use of reward system is expected to improve the morale of all parties.
Moreover, before the product is implemented, relevant training should be done. Normally, people are always resistant to new ideas due to insecurity. The financial institutions should organize educational forums within the university. Basically, all parties should be educated about what all the life start entails. In order, to ensure that everything runs smoothly, feedback from customers should be considered. Based on the feedback received from customers, the institutions should be keen to address all relevant issues raised early in advance. Owing to the above mentioned fact, the students, academics and staff will be confident with the minimal viable product.
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