{"id":42495,"date":"2021-01-14T14:51:37","date_gmt":"2021-01-14T19:51:37","guid":{"rendered":"https:\/\/balancedscorecard.org\/staging\/?p=42495"},"modified":"2021-01-15T14:37:16","modified_gmt":"2021-01-15T19:37:16","slug":"higher-education-needs-and-strategy-considerations","status":"publish","type":"post","link":"https:\/\/balancedscorecard.org\/staging\/blog\/higher-education-needs-and-strategy-considerations\/","title":{"rendered":"Higher Education Strategy Considerations"},"content":{"rendered":"\n\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.22&#8243;][et_pb_row _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.7.6&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/balancedscorecard.org\/staging\/wp-content\/uploads\/2021\/01\/University-Graduating-Students_400x400.png\" width=\"233\" height=\"225\" alt=\"Higher Education Strategy\" class=\"wp-image-42501 aligncenter size-full\" style=\"float: right; padding: 0px 0px 0px 15px;\" \/>Effective strategic planning is vital to success in today\u2019s fiercely competitive and dynamic environment. Benjamin Franklin said it best, \u201cIf you fail to plan, you are planning to fail.\u201d This is especially true for Higher Education institutions that face a plethora of existential challenges and threats, including but not limited to the following:<\/p>\n<h4><span style=\"color: #1d5878;\">Major Challenges<\/span><\/h4>\n<ul>\n<li><strong>Enrollment declines<\/strong> due to lower unemployment rates and growing reluctance of potential students to accumulate debt. Also, the increased availability of e-learning \/on-line learning alternatives.<\/li>\n<li><strong>Financing<\/strong> (structural budget deficits) driven by enrollment declines, deep cuts in Federal funding &amp; State appropriations, limits on tuition increases, and decreased endowments<\/li>\n<li><strong>Integration \u2013 <\/strong>of planning, strategy, and transformation capabilities across the institution<\/li>\n<li><strong>Poaching <\/strong>of acclaimed professors and researchers<\/li>\n<\/ul>\n<h4><span style=\"color: #1d5878;\">Major Threats <\/span><\/h4>\n<ul>\n<li><strong>Global competition <\/strong>\u2013 making new programs, new training and new models of instruction essential<\/li>\n<li><strong>Disruptive possibilities <\/strong>\u2013 of startups, and alternative education providers<\/li>\n<li><strong>Scaling<\/strong> of national universities \u2013 primarily due to financial issues<\/li>\n<li><strong>Loss of \u201cStature\u201d \u2013 <\/strong>primarily due to poaching<\/li>\n<\/ul>\n<p>An understanding and appreciation of these critical issues is foundational to the development of an effective strategic plan. Additionally, institutions are best served if these issues are addressed in the context of a disciplined framework.<\/p>\n<p>Our solution and approach support the goals of Higher Education institutions in the following ways:<\/p>\n<ul>\n<li>Our <a href=\"https:\/\/balancedscorecard.org\/staging\/about\/nine-steps\/\"><strong><em>Nine Steps to Success<\/em>\u2122<\/strong><\/a>\u00a0framework provides a disciplined, proven approach to developing and executing Balanced Scorecard strategic plans and systems that can encompass critical strategic objectives related to enrollment growth and cost management \/control.<\/li>\n<li>Our knowledge and appreciation of the major challenges and threats for Higher Education institutions drive the development of plans that are based on an analysis of the most current operating environment<\/li>\n<li>Our facilitation and stakeholder input-gathering skills that include surveys, focus groups, 1 on 1 interviews, and DISC Assessments ensure that the process is collaborative and inclusive, engaging broadly and deeply with the diverse set of campus and community stakeholders, and ensures an institutional-level strategic planning process which is vital for success<\/li>\n<li>Our approach of starting with high-level strategic themes and intended results, establishing enterprise-level strategic objectives, and cascading these objectives through the institution creates alignment through the tiers of the institution and ensure that all the dots are connected and everyone is on the same page<\/li>\n<li>Our expertise in developing KPIs and implementing performance management systems ensures that the right key metrics are established, and performance targets set for assessing progress<\/li>\n<li>Our approach promotes Transformation\/Change Management and builds it into the strategic thinking process<\/li>\n<li>We build a foundation to serve as an effective guide for future decision-making to help the institution realize its many and varied goals, and preserve agility by providing guidance for updates in the future, in light of assessment outcomes and changing conditions<\/li>\n<li>The last 3 steps of the <a href=\"https:\/\/balancedscorecard.org\/staging\/about\/nine-steps\/\"><strong><em>Nine Steps to Success<\/em><\/strong>\u2122<\/a> framework goes further than most and addresses strategy execution\/implementation, and so not only help in defining the path forward but help the institution to operationalize and execute on the strategy to help to achieve success.<\/li>\n<\/ul>\n<p>The bottom line is that in today\u2019s world a generic strategic plan will not deliver success. Higher Education institutions need to partner with an entity that understands their esoteric issues, has\u00a0 a disciplined balanced scorecard strategic planning process, does not walk away after plan development but offers help to execute for success, and that has the breadth and depth of experience in this area.<\/p>\n<p>The Balanced Scorecard Institute has consulted to over 400 clients in more than 40 countries worldwide, with successful engagements with Higher Education institutions like the University of Houston Clear Lake, University of North Carolina at Greensboro, SUNY Upstate University, Concordia University, Holy Family University, University of Texas, University of the West Indies, and Eastern Gateway Community College. If you would like more information, <a href=\"https:\/\/balancedscorecard.org\/staging\/about\/nine-steps\/\">contact us<\/a>.<\/p>\n<p><!-- \/divi:paragraph --><\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n\n","protected":false},"excerpt":{"rendered":"<p>Effective strategic planning is vital to success in today\u2019s fiercely competitive and dynamic environment of Higher Education institutions. <\/p>\n","protected":false},"author":24,"featured_media":42518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:paragraph -->\n<p>Effective strategic planning is vital to success in today's fiercely competitive and dynamic environment of Higher Education institutions.<\/p>\n<!-- \/wp:paragraph 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