AACSB International

Developing and Implementing the Business School Strategy

Doyle Z. WilliamsDean

Sam M. Walton College of Business

July 12, 2004

Session Objectives

• Set a context for planning

• Engage discussion and best practices for the Dean’s role and involvement

Strategic Decisions

1. Basic Philosophy and Values

2. Goals and objectives

3. Product/ Program/ Service mix

4. Customer mix

5. Geographic area to be served

6. Competitive emphasis

From Robert C. Shirley

Strategy Determinants

1. External opportunities

2. External constraints

3. Internal capabilities

4. Personal values of key players

From Robert C. Shirley

What does AACSB require?

AACSB Standards for Business Accreditation

Section 3:

“The school articulates its mission and action items as a guide to its view of the future, planned evolution, infrastructure, and use of resources.”

AACSB Individual Standards

1. Mission statement• Provides direction for making decisions• Is reviewed/renewed periodically• Includes stakeholder input

2. Mission statement is appropriate and includes production of intellectual contributions

3. Student populations are specified4. Action items representing high quality

improvement efforts5. Financial strategies to support

programs/initiatives

Best Practices…

Strategic Planning• Faculty/Staff have a clear and shared sense of the

organization’s purpose and aspirations

• A formalized planning process is in place and understood throughout the organization

• The planning process and plans are fully synchronized with the mission, vision, and values of the organization

• Plans describe realistic short- and long-term goals

• Comprehensive communication plans address the needs and perspectives of all internal and external groups

From Excellence in Higher Education, Brent Ruben 2003

Best Practices…

Strategic Planning• Plans include clear, measurable, ambitious goals and action

steps with a strategy for monitoring progress and completion

• Resources, climate, culture and comparisons are integral to the planning process

• Plans anticipate unexpected events and “crises”

• Plans, goals, and action steps are well understood and enthusiastically supported throughout the organization

• Plans are effectively monitored and seen through to completion

From Excellence in Higher Education, Brent Ruben 2003

Sample Strategic Planning Process

Develop/Renew Core Values/Mission

Develop/Renew Vision/ Goals

Develop/Renew Strategies

Implementation/Follow-up

1 yr

5 yr

10 yr

Stakeholder

Involvement

Ass

essm

ent

and

Ana

lysi

s

What’s a Dean to Do?

1. Assess the readiness of the school and gauge the commitment of the key players.

What’s a Dean to do?

• Obstacles to planning/commitment– Audit and assess

– Develop strategies for overcoming obstacles

What’s a Dean to do?

2. Determine the structure

– Committees/Champion

– Timeline

– Role of the dean?

Conclusion

Strategic Planning –

• Required for AACSB accreditation

• Good management practice

• Not a project but a process

• On-going

Conclusion

In planning, you need to know where you

begin and where you want to end up.

Fail to honor people,

They fail to honor you;

But of a good leader, who talks little,

When his work is done, his aim fulfilled,

They will all say, “We did this ourselves.”

- Lao Tzu