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STRATEGIC REDIRECTION DYNAMICS

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Presentation on theme: "STRATEGIC REDIRECTION DYNAMICS"— Presentation transcript:

1 STRATEGIC REDIRECTION DYNAMICS
phone: 4/12/2019

2 Basic Elements Lays out basic elements of a strategic redirection campaign Identifies Major Steps Strategic Options Critical Performance Measures Goals Based on Success Cautions 4/12/2019

3 Major Steps Diagnose your present condition
Identify resources to carry out the redirection campaign Create a leadership team Build the Campaign Plan Implement and monitor 4/12/2019

4 Major Step #1 Diagnosis Strategic and Mission Review
Academic Programs – Structure and Marketability Marketing – Who Are You? Student Services – Fit with Students and Compared to Competition Plant & Grounds – Most Pressing Needs Financial Condition 4/12/2019

5 Critical Performance Measures - Part One
Market Share Inquiry Yield Applications Yield Enrollment New Students Net Tuition > 60% 4/12/2019

6 Critical Performance Measures – Part Two
Net Tuition to Expenses – Gap Steady or Growing Net Income with Depreciation > 1.69% Current Assets to Current Liabilities > 2.50% Cash to Expenses > 8.00% Expendable Financial Resources to Operations > 0.19 4/12/2019

7 Critical Performance Measures – Part Three
Debt Leverage > 2.10 Composition Ratio > 1.00 Total Financial Resources to Students > $20,427 Consolidated Financial Index >3.00 4/12/2019

8 How to Use the Diagnosis
Compare Performance to Peer or Competitive Cohorts Identify Relative Position Produce Graphs to Show Trends Identify Performance Gaps List Common Themes Suggested by the Data 4/12/2019

9 Major Step #2 Resources Leadership Goodwill and Reputation
Financial Resources Cash Debt Capacity Gifts 4/12/2019

10 Major Step #3 Campaign Team – Key Players
President Board Representatives Senior Administrators Influential Faculty Students 4/12/2019

11 Major Step #3 Campaign Team – Coordination
Publish Fact Book – using diagnosis Steering Committee Include Key Players From All Sectors Identifies the Major Issues Reviews Redirection Options Establishes Major Themes for Campaign Sets Up Task Forces Identifies Task Force Member 4/12/2019

12 Major Step #4 Build the Strategic Plan
Main Rule – Change Requires Funds, Effort, Time, and Support Task Force Plans Should Include Goals, Objectives, Time Line, and Benchmarks Lay-out Time Line for Meetings Benchmarks for Actions 4/12/2019

13 Strategic Options Attrition & Discretionary Funds
Re-engineer and Consolidate Outsourcing Strengthen Existing Revenue Streams New Revenue Streams Programs Markets Partnerships Fund Raising 4/12/2019

14 Goal Guidelines – Finance -
Manage Tuition Discounts – < 40% Produce Positive Net Income & Fund Depreciation (Same goal for auxiliaries) Balance Revenue & Expense Growth Rates Build Financial Reserves for Investment Collect Receivables Minimize Debt Target CFI Score > 3 4/12/2019

15 Goal Guidelines - Academics
Design Market – Responsive Programs Programs Congruent with Labor and Graduate School Markets Customize Programs Eliminate Weak Programs Track Class Size Track Net Income by Program 4/12/2019

16 Goal Guidelines - Marketing
Who Are Preferred New Students? Craft Financial Aid Program to Attract These Students Use Symbols to Convey Mission & Values Create a Distinctive Niche 4/12/2019

17 Goal Guidelines - Administration
Simplify All Policies and Processes Treat the Student as Customer Use One Stop Shopping Services Hold Administrators Accountable Reward People for Good Work 4/12/2019

18 Major Step #5 Implementation
Communicate the Plan to the Board and to the College Community Meet with Key Players to Determine Need for Policy or Procedural Changes Steering Committee Meets Regularly to Review Progress and to Refine Campaign 4/12/2019

19 Campaign Cautions Planning without Discipline and Taking Undue Risks Can Push a College Over the Brink Don’t Make It a Perfunctory Exercise Turn It into a Wish List Isolate Financial Plans from Other Plans Treat the Plan as a Straight Jacket 4/12/2019

20 Improve Management Delegate Eliminate Assign Tasks Coherently
Simplicity Put Assignments in Writing Measure Performance Eliminate Fragmentation of Authority Excessive Decision Layers 4/12/2019


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