Vlad Comsa - BU111 Live Case FINAL DRAFT(1)

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Wealthsimple Case Vlad Comsa Harleen Grewal Lab 4 169030990
TO: Wealthsimple FROM: Vlad Comsa DATE: June 29, 2023 SUBJECT: Investigating strategies for Wealthsimple to attract Generation Z students in Ontario Recommendation: Launch Financial Literacy Classes to obtain more Generation Z students The scarcity of suitable options has made financial management a challenge for university students. 1 Despite Wealthsimple's provided services, the Generation Z students struggle to be satisfied, due to intense competition and lack of trust among both parties. The main issue that arises from this situation is an educational gap that students need to bridge. To address this issue, Wealthsimple should form strategic partnerships with Ontario's top five business-oriented universities, offering a course that teaches basic financial principles and that are applied to a stock market simulation. These lessons will be complemented by revamping 101 articles and adding workshops, while promoting through popular social media platforms among Gen Z students. The recommendation benefits in two ways; it allows Wealthsimple to utilize existing resources more effectively and it tackles the unique challenge of Gen Z students. Successful implementation of this recommendation will significantly increase the adoption of Wealthsimple's services, lower acquisition costs, and reduce the prevalent financial knowledge gap within university students. Refer to Exhibit 1 for a detailed analysis of the recommendation's effectiveness. Decision Criteria: The Key Metrics to Enhancing Financial Literacy among Gen Z students Carrying out the recommendation will require serious consideration of the following criteria: 1. Continue use of simplistic design for services towards students 2. Ensure the services are easily accessible and convenient 3. Provide consistent engagement across services to students For more in-depth information regarding each of the considerations, please refer to Exhibit 2. Analysis: Achieving Financial Literacy Transformation among Gen Z students within one year Biweekly Hands-On Classes: Optimizing Information Retention Introducing two mandatory weekly classes for all university students may initially seem to be a hefty amount to add. However, these classes will carry elective credit weight, making it far more beneficial for students. These shortened lectures have two main components: teaching crucial financial definitions and applying them to relevant real-life scenarios. Additionally, a stock market simulation game will be ran
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