Launching Our Future
Strome College of Business Prepares to Launch New Strategic Plan
With vaccinations on the rise and an economic recovery underway, the question at hand for many organizations is whether to revert to form or to adapt and investigate how the environment has changed. Looking forward, there are numerous opportunities for the College to increase its academic and educational reputation. However, there are also challenges to consider. Formulating the College's strategic plan has, at its core, two fundamental questions: "What should the College look like at the end of the next five years" and "How can we measure progress towards that vision?"
We have revisited our strategic lines of effort or "pillars" to ask whether they are still relevant. In some cases, the answer was a resounding "yes," and, in others "not so much." For those efforts lacking progress, we had to ask whether it was because of a lack of effort, lack of demand, or some combination. These conversations led to the new strategic pillars which will frame conversations and effort over the next five years. The next step is marrying these pillars with specific activities and measuring the outcomes. Why? Because a strategic plan should be dynamic, and can be more effective with mid-course corrections. That is our challenge in the coming months, to bridge the gap between aspirations, metrics, and, finally, resources. If successful, we will improve the outcomes and reap greater returns on investment for our students, faculty, and staff in the coming years.
"It was a real honor serving on the Strategic Planning Committee this year. As a new faculty member, I honestly was worried I would not have much to contribute, but I was also excited about the opportunity because I knew that I would learn so much more about the College by serving on the committee. Starting a new position during COVID with so much of our work and interactions virtual, it has been a little challenging getting to know everyone. However, in serving on the committee, I was able to get to know a number of folks across the college and learn so much about all the departments as well as centers/programs/schools." Kris Irwin Assistant Professor.
The committee met week after week, incorporating and discussing all the different plans and adopted a bottoms-up approach outlined by Dean Tanner. Through collaboration with the Dean, the different sub-committees, and representatives of the departments, the committee iterated on the options for the pillars, areas of strategic focus and priority for the five-year plan. Through honest discussions and reflecting on the prior plan, the committee was able to narrow down to six pillars (Digital Transformation, Economic Resiliency, Transitional Entrepreneurship, Maritime / Supply Chain, Multi-Sector Collaboration, and Inclusive Well-being). While other pillar options, such as International Business, were suggested and discussed, the committee recommended the six proposed due to their distinctiveness and potential for competitive advantage for the SCB. To gain additional insights and feedback from the faculty, a survey covering the mission, vision, values, and pillars was also issued and carefully analyzed. The feedback received was very positive and also provided direction for minor edits to the mission, vision, and pillars' definitions. "Learning the viewpoints, ideas, and vision of my colleagues has been most fascinating. A common theme is viewing Strome as a contributor and catalyst for growth in our students and for sustainable progress in the surrounding region and beyond." Meagan Jordan, Associate Professor of Public Administration
The transformation of the strategic plan from a filed document to a living document occurs when goals and objectives manifest into identifiable actions and procedures that are assessed regularly for feedback. The translating of plan into process is uniquely dynamic for each unit that undertakes it.
Strome was able to collaborate and create a five-year Strategic Plan that aligns with the mission, vision, and values as well as creating both inspiring and achievable goals to guide the College forward post-pandemic smarter and stronger than before.
