Strategic Plan Strategic and Other Thesis

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Standards: The standards the university will set for itself are as follows

Maintain tuition at current rates (allowing for inflation).

Maintain or increase measures of demographic diversity.

No significant decrease in students with financial need as percentage of incoming class.

Maintain top faculty.

Historic: Historic expenditures of university regarding tuition, financial aid, and student services can be used for comparison.

Step 8: Action steps

Look back at the goal and objectives you developed last week for Step 5 of your strategic plan. Outline a series of action steps that could be implemented to achieve them; include a timeline.

Step 1: Audit of university expenditures: effective immediately

Step 2: Hiring freeze on faculty and administrative personnel. Replace retiring members with graduate students and adjunct faculty who do not receive benefits. Examine possibility of administrative staff reduction, letting go non-tenured faculty (especially in majors with few students) and consolidation of academic departments: Notify staff immediately about possibility of layoffs. Layoffs and consolidation begin after audit for staff immediately. For faculty, layoffs begin of the summer/end of semester.

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Step 3: Reduce food service expenditures (accomplished by having fewer hours of service, having students buy more of their own food), trim the budgets of the less popular extracurricular activities, replacing permanent staff with work study students: Effective after audit.

Step 9: Revenues and costs

Identify the sources of revenues and costs that would be associated with the above-mentioned goal.

Savings on salaries and benefits for full-time staff and faculty, reduction in overhead costs for services to all students, and also revenues will through expanded work study program for needy students.

Costs only due to cost of overall audit

Step 10: Assessment

List the issues your board of directors could use to assess the strategic plan.

Are the cuts significant enough to forestall the need for a tuition increase or an end to need-blind admissions?

Is the university equally affordable compared to similar institutions as it was before the financial crisis and the reduction in the endowment?

Are cash-strapped parents able to meet current student's financial needs?

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