Page 2. Our Strategic Planning Process (A Summary of the College Strategic Planning Council Bylaws)

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1 Gordon Ford College of Business Plan Approved by the Planning Council on March 16, 2012 Approved by vote of the College Faculty on August 22, 2012 Endorsed by Student Advisory Council on August 27, 2012 This plan contains: A Summary of Our Planning Process Our Core Values, Vision/Mission, and Objectives Summary of Our Current Operating Environment Plan 2020 The Summary of Our Initiatives Planning Matrix Our Operational Plan and Action Teams Our Distinctiveness: The Gordon Ford College of Business faculty, staff, and students take great pride in our culture of applied business excellence originating from the Bowling Green Business University. Our applied business focus is evident through our curriculum, student engagement in clubs and organizations, faculty activities, and our Centers for Excellence that collectively guide us toward achieving our mission.

2 Our Planning Process (A Summary of the College Planning Council Bylaws) The strategic planning process of the Gordon Ford College of Business is an ongoing discourse between faculty, students, and other key constituents via the Planning Council (SPC) of the college. The faculty, staff and students are involved in regular environmental scans to assure the College is responsive to changes and new opportunities. Based on the environmental scans, revisions are made to the strategic objectives and related operational plans at least annually. Mission of the Planning Council The Planning Council (SPC) is an on-going body, with diverse and broad-based membership, that administers the Plan by establishing priorities and developing action plans to meet the strategic objectives of the College. SPC members are volunteers who facilitate the design, advancement, and renewal of the Plan and assist the College by leading change. The SPC reports and documents the performance of action plans on an annual basis and transmits proposals to the Dean for implementation consideration. These plans will be used to guide departmental and program initiatives. Responsibilities of SPC Members: Serve as advocates for strategic change; Continually seek input from College stakeholders to foster ownership of and to generate commitment to the development and advancement of the Plan; Continuously review and update the Plan as needed; Identify programs, systems, and processes within the College needing revision, improvement, or innovation; Facilitate communication among College stakeholders about strategic activities; Make recommendations to the Dean and other standing committees of the College where appropriate; Assess the success and accomplishments of strategic initiatives; Serve as ambassadors to champion the Plan and the Planning process. Meetings The SPC meets as a full body a minimum of four times each year on the second Friday of October, December, March, and May. Subcommittees and action teams commissioned by the SPC may meet more frequently as needed. Membership The Planning Council consists of no more than thirty (30) members. Membership is voluntary, through appointment by the Dean. The profile of SPC membership is suggested to include broad-based representation of all key constituencies. Additional consideration may be given to ensure that appropriate diversity is achieved and that all units within the College are appropriately represented. Action Teams Separate action teams may be created by the SPC to fulfill an activity it identifies to achieve a strategic objective. The outcomes and deliverables from action team activity, including timelines and sources of funds and other resources required for this activity, will be identified and approved prior to the start of action team work. These action teams generally consist of a select group of College stakeholders (faculty, staff, students, alumni, etc.) and are generally chaired by at least one SPC member. Each action team is responsible for documenting its work and reporting back to the SPC at its periodic meetings. The SPC will receive and evaluate the outcomes of action team work and will discharge an action team once its work is completed and its outcomes have been achieved. Page 2

3 Our Core Values, Vision, Mission, and Objectives (Reaffirmed by the SPC on ) Core Values We, the students, faculty, and staff of the Gordon Ford College of Business, value: the significance of relevant higher education and lifelong learning to the effective functioning of a modern global society; the necessity of revising educational experiences, methods, technologies, and delivery systems to meet the changing needs of students, business organizations, and society in general; the importance of fairness, honesty, integrity, trustworthiness, and ethical behavior in our actions, relationships, and in the performance of business activity; a respect and appreciation for diversity in our classrooms, workplace, associations, and relationships; the importance of continuous planning, assessment, and improvement to maintain currency, relevancy, and increasing levels of quality in our educational and operational processes. Vision Statement The Gordon Ford College of Business will be recognized as a leading public undergraduate and master level business education institution. This recognition will result from the delivery of high quality, innovative and applied business programs, the existence of select centers of excellence, and the implementation of significant valueadded initiatives that differentiate the College from other institutions. Mission Statement The Mission of the Gordon Ford College of Business is to be a leader in providing high quality, applied undergraduate business education and select graduate programs that meet the needs of the business community. Intent Our strategic intent is to make the Gordon Ford College of Business the school of choice for highly capable and motivated students from the Commonwealth of Kentucky and beyond. We also intend to make the Gordon Ford College the workplace of choice for faculty and staff. Objectives To achieve our strategic intent and realize our vision, the Gordon Ford College of Business is committed to the following strategic objectives that match those of our university: Objective #1: To recruit and retain high quality and diverse students and provide all students with knowledge and applied experiences that will expand on their individual strengths and give them a competitive advantage in the global workplace and maximize their personal and professional advancement potential (Student Recruitment, Retention, and Success). WKU Goal 1) Page 3

4 Objective #2: To recruit and retain high quality and diverse faculty and staff and provide them with opportunities and resources to develop their knowledge and skills while maximizing their career advancement potential (Faculty and Staff Recruitment, Retention, and Advancement). WKU Goal 2) Objective #3: To provide a professional physical work environment with associated technology and resources that accommodate the effective delivery of knowledge and learning experiences and the performance of work activity in a setting that is efficient, effective, pleasant, and promotes a sense of community within the College (Physical Environment and Infrastructure). WKU Goal 4) Objective #4: To promote a culture that recognizes and rewards the activities of students, faculty, staff, alumni, and business stakeholders that support and advance the mission of the College (Incentives and Rewards). WKU Goal 2) Objective #5: To craft a comprehensive communication and marketing strategy that fosters high levels of communication both within and outside the College and promotes and elevates the image of the College to all stakeholders and peer institutions (Marketing and Public Relations). WKU Goals 1 & 2) Objective #6: To develop and maintain strong, enduring, and significant relationships with all internal University stakeholders to support and advance the mission of the College (Internal Relationship Building). WKU Goal 3) Objective #7: To develop, broaden, and strengthen significant relationships with external stakeholders with a focus on alumni, business, and governmental organizations to support and advance the mission of the College (External Relationship Building). WKU Goals 2 & 3) Page 4

5 Environmental Scan by Faculty, Staff, & Students (Adopted by SPC on ) STRENGTHS AACSB Accreditation 1 of 175 = double accreditation Faculty taught classes Honors College association Opportunities for student involvement Caring/ collegiate faculty, Alumni support, and endowment Small class sizes Faculty high percentage with terminal degree WEAKNESSES Building needs improvement Difficulty filling vacated faculty positions Students with unrealistic job placement expectations Lack of collaboration between departments Lack of commitment for expanding regional campuses Capped raises and summer pay disproportionally affect business faculty OPPORTUNITIES Willingness of region and local businesses to collaborate with the College Financial support for scholarship development Demand for new programs and majors Higher quality students attracted to WKU Development of a new strategic plan by WKU Constituency willing to provide funds for key programs THREATS Conflicting goals (retention vs. quality) Rising tuition Noncompetitive salaries hindrance to hiring Legislative changes Online universities Regional schools Boutique schools Lack of one point of contact must interact with many different offices Tuition funding Applied learning, such as study abroad, SIFE, etc. Success of students placement after graduation Centers of Excellence and Graduate programs Student Quality and open enrollment Limited resources and new faculty, marketing, public relations Restrictive administrative policies Demand for fee based services Competition slow to react Receptive constituencies Good reputation in the community CPA pass rate higher than any other Kentucky school Well trained faculty, staff, and advisors Page 5

6 Plan 2020: Striving to be the Best Applied College of Business in the Commonwealth Plan 2020 is a one-page summary of our Objectives and Operational Plans. It was created to assure our important stakeholders (students, faculty, staff, university administrators, and the regional business community) are able to view our future intentions in one place. 1. Recruit the Best (GFCB Objectives 1, 2 & 4) a. Increase student scholarships and assistantships focus on highly qualified students in the sweet spot for scholarship-based recruitment. b. Link to the Honors College make the Honors degree easier to obtain. c. Link to Community Colleges make the transfer path easier to accomplish for high quality, focused students. d. Increase enrollments: i. Maximize undergraduate capacity use the best in strategic ways. ii. Expand our graduate programs: 1. Focus on PPA/MAcc for accounting recruiting 2. Create new 3/2 programs in the MBA and MAE degrees 3. Aggressively recruit from within our college and university e. Seek to enhance compensation levels consistent with benchmark institutions. f. Embrace diversity and globalization throughout our college. 2. Embrace the Best (GFCB Objectives 2, 3, 4 & 5) a. Encourage academic and leadership excellence: Focus on Premier Chapter Programs (BGS and BAP) and other student-based organizations. b. Emphasize AACSB Accreditation in Business and Accounting to all constituents. c. Feature our professional advising at all student-related events. d. Enhance student placement opportunities e. Expand study abroad focus and support for students and faculty: i. Enhance study abroad scholarship opportunities for students ii. Encourage and facilitate Fulbright programs for faculty iii. Feature international experiences as part of sabbatical leave applications f. Create Mentors Make a Difference program and link to internship opportunities. g. Feature the many benefits of our applied student organizations and Centers. 3. Associate with the Best (GFCB Objectives 5, 6 & 7) a. Partner with industry through the Business Executive Advisory Council and programmatic advisory councils/boards. b. Link to industry through the creation of focused Executive Education Programs. c. Feature applied scholarship of the college: i. Scholar in Residence to facilitate a. and b. ii. Centers enhanced funding for existing and new (Finance and Accounting) iii. Broadly feature the work of our faculty Page 6

7 Gordon Ford College of Business Planning Matrix WKU Goals GFCB Objectives GFCB Plan 2020: To be The Best Applied Program GFCB SPC Action Teams Goal 1. Foster Academic Excellence & 4. Recruit and retain the best students and faculty; reward faculty for their work. Recruit the Best & Embrace the Best Student recruitment & retention Scholarships Faculty awards and incentives Goal 2. Promote a Dynamic and Diverse University Community & 7. Recruit and retain a diverse student & faculty population, while providing a comfortable work space, and rewarding work. Recruit the Best & Embrace the Best Student recruitment & retention Scholarships Faculty awards and incentives Goal 3. Improve Quality of Life for our Communities Goal 4. Support the Core Mission with a Robust Campus Infrastructure & 7. Build significant mutuallybeneficial relationships with our stakeholders. 6. & 7. Develop and maintain relationships with internal and external stakeholders Associate with the Best Marketing & PR Outreach Internships & placement Global opportunities Infrastructure Page 7

8 Operational Plans for Action Teams to Implement our Objectives (Adopted by the SPC on ) Operational Plans specify how the strategic goals of the college are to be achieved by linking those strategic goals to action teams. Action Teams in turn identify action steps and proposed dates of accomplishment. Typically, operational plans span 18 to 24 months and are reviewed at each Planning Council meeting for updates and revisions. Action Team Goals (General) Targets (Measures) Student Maximize the More and better Retention, efficiency and students Recruitment & effectiveness of Success the GFCB Objective 1) Scholarships Objective 1) Award & Incentive team Objective 2) Infrastructure Investment in the future Obtain best students Enhance reputation of college Recognize student performance To reward faculty and staff for high performance To provide incentive for faculty to continue working towards a common good Environmental systems Preparation for AOL Recommendations Number of scholarships awarded Size of scholarship Purpose of scholarships Number of students impacted Re-evaluate systems of incentives and rewards Consider providing cash bonus awards annually based on annual performance Consider providing release time award based on annual performance Reported temperatures that are outside defined acceptable range. Action Steps Who and When? Resources Benchmark study including: Existing data from WKU alumni (satisfaction) Student focus group Postgrad surveys Identify target funding levels Identify students Identify donors Process to prioritize needs and allocate Solicit members to action team and meet with GFAC Rework the existence HWF program. Perhaps cut down the dollar amount awarded Examine the number of faculty research award in order to free up funds for annual performance award Develop temperature reporting mechanism Task Action Team AOL Team Complete initial study by August 2012 for faculty retreat Revise for AY2012/2013 Director of Development/ GFAC Faculty follow up (scholarship committee) Complete assessment and propose plan by August 2012 Revise plan for AY2012/2013 implementation Task team (Dr. Chan and Mr. Krist) & Assoc. Dean Provide initial study by August 2012 with targeted implementation for CY2013. Action team, Associate Dean and Building Coordinator Dean s Office for focus group refreshments Professional Development Funds Dean s Office and WKU Foundations Use some of summer research funds Additional fund raising for faculty rewards If an HVAC assessment has not already been Page 8

9 Operational Plans for Action Teams to Implement our Objectives (Adopted by the SPC on ) Action Team Goals (General) Targets (Measures) Objective 2) Target is zero Infrastructure Security Air quality index cont. measured Technology periodically. Target is Good Marketing & Public Relations Objectives 4 & 5) Outreach Objective 6) Internships & Placement Objective 7) Global Studies Objective 6) Aesthetics Image Awareness Institutional Commitment - Recruitment, Recognition, and Awareness Connect learning with doing in a global economy Participate in the development of an Economic Development Grant for the region (University Center) Create new model for student success and Retention Differentiation for recruiting Link to employers Economic development Support and encourage the globalization of curriculum Increase participation in study abroad and international engagement Opportunities for student engagement Water quality measured periodically. Target is Good Image Awareness Evaluations Exit surveys Chamber of Commerce & Business partners Internships Community College Connections Distribution list of the Center Number of internships/ placement # placement within 90 days Quality assessment Provide global pathways options for students Increase student participating in international programs study abroad, double degree Faculty consider Fulbright, DAAD, and other programs. Action Steps Who and When? Resources Establish GFCOB environmental coordinator and liaison between GFCOB faculty/staff and Facilities Management Stakeholder perceptions Assess communication channels Redefine brand (plan) Business plans Develop a list of opportunities GFCB offers (including departments and courses) what, who, when, how and how much Standard Procedure (what) Who- 1+6 Department program Identify global requirements and options for each major and within the college core Propose curricular development to provide opportunity where lacking Dr. Todd s class for undergraduates & Dr. Hatfield for graduate students Business Executive Advisory Council Center directors GFAC BEAC Committees Create task team to collaborate with Career Services and the business community to focus on student career success. First draft of work August GS Committee; Chairs; Associate Dean; Dean; College International Officer; Student Services Staff Development officer Develop program that provides accomplishedthis may need funding Students BEAC Contact location Associate Dean Trawick and Dr. Cosby and task team Funds to support faculty travel Training for faculty teaching abroad Student and faculty global scholarship fund (development) Page 9

10 Operational Plans for Action Teams to Implement our Objectives (Adopted by the SPC on ) Action Team Goals (General) Targets (Measures) Global Studies Have students cont. apply for Fulbright, DAAD, and other award programs Action Steps Who and When? Resources Develop and implement PMBA international experience incentive to faculty who apply for Fulbright travel support to identify opportunity Explore cooperation with Asia (India and China) Provide scholarship opportunities for student global study Page 10