Brushing up HBR fundamentals will provide a strong base for investigative reading.
Grey Gianforte is the CEO of the company.
It was in the yearwhen the company came up with a product idea through which the companies and especially the business organizations can respond to their customer emails.
The company faced a number of favorable and unfavorable situations since the inception of the company in until the current time of its operations in The CEO and founder was under consideration to exit from the industry, therefore he was considering accepting the acquisition offer or IPO plan in or continue in the industry.
The debate went on among the board of directors to choose one of the Rightnow technologies case. There are mixed opinions about the best way to grow, but it had an acquisition offer from a big software company and it looked attractive to the CEO of the company.
This is the reason due to which he has chosen to exit from the industry. In his first years of operation, Gianforte successfully raised the funds from venture capital from Knee-jerk to complete the research on the software that is under consideration by Gianforte.
The company had achieved good sales growth but it was unable to generate profits therefore it taken two preferred redeemable shares from two venture capitals and a debt of lower amount to finance its expenses. The company did not go out of cash due to its financing structure.
Facts Progress of the Company Performance A. Stated Rightnow Technologies has performed well since its inception and the performance of the company could be evaluated based on the four phases of its performance.
The facts of the company under each of the four phases are discussed one by one: Foundation Phase The foundation phase of the company was from to During this time, the company generated zero cash inflows and no revenues but many important decisions were made by the CEO during this phase for generating revenues in The CEO had agreed on a venture capital partnership with knee-jerk for completing the research and development of its software.
During this phase, Gianforte had completed deals with around 40 customers and this was the time when he started to hire sales personnel for looking over the sales function of the company. These sales persons proved to be beebnficial for the company as they generated additional sales in the next several years.
Early Stage The early phase of Rightnow Technologies started after the last quarter of Mike Myer was hired during this phase who became the Vice President of Development and he was the one who had built the augmented product, which was being sold during this period.
In this stage, the company faced the challenge of developing the product based on the customer-required features. The product was provided to the customers during this stage and it was stated that the product is completely about self-service. It did not hold any of the customer service interactions but it has provided an application service provider on its website regarding managing the software.
This ASP model has proved to be successful and it becomes a competitive edge for the company. This model has enabled the software development team at the company to iterate different designs of software as compared to the shrink-wrap model.
This provided them with huge opportunity for testing the quality assurance. Rapid Growth Between the periods of to the fall ofenormous growth was generated by the company internally and the total number of the employees had increased from eight employees to 80 employees.
The company now required a formal management team for financial control as the sales were doubling in each quarter. This was the time when Susan Carstensen had been hired and she became to lead the management operations of Rightnow Technologies.
This was the phase during which the company considered a number of growth options such as IPO. For this purpose, the company had also hired auditors, lawyers and accountants for auditing the accounts of the company to move ahead with the IPO process.
This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.RightNow Technologies. RightNow Technologies provides Internet-based customer support software and service solutions that deliver rapid time-to-benefit and quick return on investment.
RightNow Technologies is a Harvard Business (HBR) Case Study on Innovation & Entrepreneurship, Fern Fort University provides HBR case study assignment help for just $ Our case solution is based on Case Study Method expertise & our global insights.
Oracle RightNow is a customer relationship management (CRM) software service for enterprise organizations. It was originally developed by RightNow Technologies, Inc., which was acquired by Oracle Corporation in Revenue: US$ million ().
Oracle RightNow is a customer relationship management (CRM) software service for enterprise organizations. It was originally developed by RightNow Technologies, Inc., which was acquired by Oracle Corporation in Founded: Bozeman, Montana ().
Case analysis for RightNow Technologies. As strategic advisors to RightNow Technologies (“RightNow” or “the company”), our recommendation comprises outlining a criteria to assess the decision, comparing alternatives against this criteria, and ultimately proposing an alternative.
RightNow Technologies Case Study Solution & Analysis In most courses studied at Harvard Business schools, students are provided with a case study.
Major HBR cases concerns on a whole industry, a whole organization or some part of organization; profitable or non-profitable organizations.