WHAT IS STRATEGIC PLANNING
Strategic planning is an institutional management activity that is used to set priorities, focus energy and resources, strengthen operations, and assess and adjust the institution's direction toward established intended outcomes. The central value of planning is to provide guidance for an institution. Continuous planning that is future-oriented, fosters dynamic programming, and is based on sound financial and operational strategies is the key to maximizing the institution's strengths and is a basis for ensuring that the institution can continue to meet the needs of its constituency.
WHAT IS A STRATEGIC PLAN
A strategic plan is a document that communicates the institution's goals, the actions needed to achieve those goals, and the resources needed to take those actions.
WHY IS STRATEGIC PLANNING IMPORTANT
We engage in strategic planning for five main reasons:
- A strategic plan articulates a shared vision, mission, and values. This enables all the institution's stakeholders to work towards a common vision.
- A strategic plan effectively organizes the institution and its faculty and staff. It encourages communication, collaboration, and commitment by involving all the institution's stakeholders in the governance process of the institution.
- A strategic plan defines how success is measured. It enables the institution to monitor its progress toward established intended outcomes and evaluate where and how it could improve.
- A strategic plan helps the Board of Trustees make decisions and provide direction for the future.
- A strategic plan provides a framework for ensuring that students' academic performance remain a priority for the institution.