Sample Assignment BSBHRM602 Strategic and Operational Plan

Strategic & Operational Plan

King Edward VII College

Executive Summary

Established in 2010, King Edward VII College is a Registered Training Organisation (RTO) that provides training to students in business and management.

Our principal purpose is to provide high quality training services to satisfy students’ needs.

Our training is nationally recognised and accredited to meet vocational and educational standards. Courses are designed by highly qualified staff with extensive industry and training experience to achieve teaching and learning excellence, flexibility and personal satisfaction.

We draw on our established relationships with industry and other stakeholders to ensure our courses are appropriate to the demands of our clients and consistently meet their expectations.

Quality is maintained in compliance with the national VET Quality Framework and through our continuous improvement system.

A key objective is to develop the required knowledge and skills for clients to be job ready and competently undertake their chosen role in a wide range of business areas.

Mission

Kind Edward VII College provides high quality industry training that engenders participation and achievement.

Strategic Objectives

  1. To be a leader in vocational education and training
  2. To establish and maintain high quality infrastructure supporting clients and staff
  3. To be well led, high performing, profitable and accountable
  4. To develop our people and resources

Our values are:

Core values underpinning our activities are:

Our Operational Objectives

The following table identifies the operational objectives we plan to achieve in pursuit of our strategic objectives.

Date

Priorities

Key performance indicator

June 15

Improve web site information to attract more students

10% increase in students by June 2016

Improve market share by 5%

July 15

Conduct annual internal audit

Audit conducted and continuous improvement identified

October 15

Develop and implement a cultural sensitivity and awareness program for staff

All staff trained in cultural awareness

November 15

Staff performance reviews

All staff performance reviews conducted

December 15

Identify suitable location for Sydney campus

Location identified and lease taken out

2016

January 16

Provide information sessions showcasing the College (Melbourne and Sydney)

Fit out Sydney campus ready for student admissions in February.

Interview staff for commencement in February.

Identify at least 50 potential sign ups

Sydney campus ready for operation

March 16

Develop an online learning platform for all courses

All courses offered on-line by end 2016.

Increase student numbers by 12%

April 16

Identify suitable location for Brisbane campus

Location identified and lease taken out

May 16

Fit out Brisbane campus ready for student admission in June.

Interview staff for commencement in June.

Brisbane campus ready for operation

July 16

Conduct annual internal audit

Audit conducted and continuous improvement identified

November 16

Staff performance reviews

All staff performance reviews conducted

2017

February 17

Undertake scoping study for possible offshore campus

Scoping study completed by June 17 and decision made as to whether to proceed

July 17

Conduct annual internal audit

Audit conducted and continuous improvement identified

November 17

Staff performance reviews

All staff performance reviews conducted

The market

Market characteristics & conditions

King Edward VII College has two broad segments to its target market consisting of people wishing to gain entry to the industry, as well as people already working in business and management who want to formalise or develop their skills.

Workforce needs for this sector have been identified as the need to develop an adaptive, responsive and divers workforce, keep up with technology and to build effective leadership and management skills.

This has informed King Edward VII choice of to deliver.

We also intend to capitalise on market needs for delivery of blended (classroom and online), as well as online courses.

There are many training providers in our sector and King Edward VII seeks to offer a point of difference through our competitive pricing structure, innovative teaching methods and state of the art facilities.

Situation Analysis

Strengths

Weaknesses

Ø Price, value and quality

Ø Clear understanding of student requirements

Ø Delivery mode suitable for client requirements

Ø High quality learning and assessment materials

Ø Committed to quality ethical practice

Ø Ability to adapt to changing market conditions

Ø Effective and practical policies and procedures

Ø Competitive pricing

Ø Friendly organisational culture

Ø Level of available finance for investment

Ø Focus on business and management courses only

Ø Substantial investment in Sydney and Brisbane meaning large financial outlay

Ø High staff turnover of trainers

Ø Lack of diversity in workforce

Opportunities

Threats

Ø Potential for offshore delivery

Ø Target market experiencing growth

Ø To target other States and Territories

Ø Current portfolio of courses popular in target markets

Ø Potential to apply for Government funding

Ø Changes in Industry/ Government legislation affecting students

Ø Possible adverse effects of government policy formulation

Ø High level of competition

Ø Instances of other RTOs bad/ malpractice creating poor perception of training providers to clients

Ø Predicted uncertainties in the world economy impacting level of demand for training

Ø Low price competitors

Ø Failing to satisfy clients demands

Marketing Strategies

Students make their decisions based on the reputation of the organisation, quality of courses, pricing, employment options and personal recommendations amongst other factors.

Our strong vocational emphasis and continual industry consultation will ensure our courses are appropriate to develop the skills and knowledge currently demanded by employers and students.

Our market decisions are based on extensive and continuous market research, targeting market segments and clients within industry. We collect our data from a variety of sources including current and potential clients, VET and business sectors, competitors, media and government along with many other sources.

We plan to develop our market share by:

Risk Management

The following section identifies the associated risks in pursuit of our strategic objectives and how we will deal with them.

Strategic Objectives

  1. To be a leader in vocational education and training
  2. To establish and maintain high quality infrastructure supporting clients and staff
  3. To be well led, high performing, profitable and accountable
  4. To develop our people and resources

Risk

Australian government changing policy in relation to industry

Ø Accepting policy change will be a constant factor to manage

Ø An understanding of this should be instilled in all staff

Ø Develop ability to foresee and react quickly to change

Ø Maintain effective communication channels with stakeholders

Ø Diversification of source markets

Ø Develop range of training and assessment services

Related to Strategic Objectives: All

Responsibility: CEO & Senior Managers

Risk

Significant drop in cash flow

Ø Identify operating costs as per future plans and past performance

Ø Identify available finance available

Ø Efficient invoicing and debt recovery

Ø Accurate income projections

Ø Close monitoring of expenditure

Ø Arrange overdraft facilities

Ø Scenario planning

Related to Strategic Objectives: All

Responsibility: CEO & Finance Manager

Risk

Failure to recruit planned number of clients

Ø High quality delivery of all services

Ø Swift reaction to feedback

Ø Skilled motivated staff

Ø Attractive fee structures

Ø Effective market research

Ø Develop plans for each market

Ø Allocate finance for each market

Ø Monitor performance

Ø Take early corrective action if not meeting targets/ expectations

Ø Maintaining effective relationships with clients

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: 1, 2, 3

Responsibility: CEO, Marketing Manager and Academic Manager

Risk

The world recession and the domino effect

Ø Target markets with strong growth forecasted

Ø Monitor the economic trends

Ø Regularly review performance in line with anticipated market conditions

Ø Develop culture of accepting continual change

Ø React quickly to change

Ø Scenario planning

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: 1, 3

Responsibility:CEO and all Senior Managers

Risk

Over committing resources

Ø Balance activities with amount of finance available for investment

Ø Financial planning

Ø Monitoring of cash flow

Ø Review invoicing/ debt recovery system

Ø Swift response to identified issues

Ø Accessing financial advice

Related to Strategic Objectives: 1, 3

Responsibility:CEO & Finance Manger

Risk

Adverse changes in market conditions

Ø Effective communication channels

Ø Continuous market research

Ø Monitor new markets and overall recruitments trends for all market segments

Ø Scenario planning

Ø Develop working knowledge of potential markets

Ø Networking

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: 1, 2, 3

Responsibility:CEO, Marketing Manager and Academic Manager

Risk

Changes to Acts and other relevant legislation

Ø Emphasis on professional, ethical practices with all stakeholders

Ø Staff training

Ø Leading by example

Ø Policy implementation and monitoring

Ø Effective communication channels with all stakeholders

Ø Ability to manage change

Ø Managing available finance for re-investment

Related to Strategic Objectives: All

Responsibility: CEO, Human Resources Manager, Finances Manager


Risk

Shortage of/ Difficulty in recruiting appropriate qualified and skilled staff

Ø Development of HR policies and procedures

Ø Offer attractive salary package

Ø Provide opportunities for career progression

Ø Develop stimulating and enjoyable working environment

Ø Commitment to training and development

Ø Commitment to professional development

Related to Strategic Objectives: 1 & 4

Responsibility: Human Resources Manager

Risk

Failure to meet and manage client’s expectations

Ø Accurate and timely communication with potential and current clients

Ø Management of recruitment activities

Ø Continuous improvement system

Ø Regularly review learning and teaching approaches, resources, structure and systems

Ø Client management policies in academic and support services

Ø Industry liaison

Ø Reviewing effectiveness of communication channels with clients

Ø Employing a continuous improvement approach to all operations

Ø Continuous market research and action

Ø Systematic feedback on management performance and personal reflection

Related to Strategic Objectives: All

Responsibility: CEO, Administration Manager, Human Resources Manager, Marketing Manger

Risk

Failure to comply with legislation

Ø Consistently implement compliant policies and procedures

Ø Continuous improvement system

Ø Commitment to training and development

Ø Systematic review of policies and procedures

Ø Regular reviews of all operations

Related to Strategic Objectives: All

Responsibility: CEO, Human Resources Manager, Academic Manager and Administration Manager

Risk

Failure to control expenditure

Ø Effective financial planning and review

Ø Coordination of activities

Ø Systematic review of practice

Ø Financial management and control systems

Ø Facilities management

Ø Implementation of efficient processes

Ø Efficient procurement of products and services

Ø Cost comparisons prior to purchasing

Related to Strategic Objectives: 1, 2, 3

Responsibility:CEO & Finance Manager

Risk

Only providing business and management courses

Ø Weighting between diversification/ specialisation

Ø Monitor recruitment trends per market

Ø Forecasting

Ø Match new/ planned courses to individual market/s demand

Ø Cost benefit analysis

Ø Developing reputation for being a specialist in business and management courses

Ø Developing market share for delivery of business and management courses

Related to Strategic Objectives: 1

Responsibility:CEO, Marketing Manager, Academic Manager

Risk

Ineffective planning

Ø Experienced management team

Ø Continuous market research

Ø Planning system

Ø Organisation structure and systems

Ø Regular review of structure, systems and procedures

Ø External liaison

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: All

Responsibility:CEO & all Senior Managers

Risk

Competitors undercutting prices

Ø Maintain competitive pricing policy

Ø Monitor competitor’s prices vs quality

Ø Regularly review financial management models/ processes

Ø Continue focusing on quality

Ø Continue strategy of quality brand promotion

Related to Strategic Objectives: All

Responsibility:CEO, Marketing Manager, Academic Manager

Risk

Non-payment of course fees

Ø Effective recruitment policies

Ø Review of recruitment policies/ market segments

Ø Efficient invoicing

Ø Attractive payment structures

Ø Payment plans

Ø Cash flow management

Ø Timing of collecting fees

Related to Strategic Objectives: 4

Responsibility:CEO, Marketing Manager, Finance Manager


Risk

Rate of growth in client numbers

Ø Systematic review of systems and practice

Ø Buying in knowledge and skills

Ø Sourcing reliable market information

Ø Strategic and operational planning

Ø Review/ amend management structure

Ø Develop policies and procedures

Ø Regular reviews of capacity and operation of all functional and curriculum areas

Ø Good communication channels with stakeholders

Ø Recruitment policy

Ø Finance available for expansion

Related to Strategic Objectives: 1, 3 & 4

Responsibility: CEO and all Senior Managers

Risk

Unethical/ unprofessional practices of staff (when employed)

Ø Staff selection processes

Ø Staff monitoring systems

Ø Previous experience of managing staff

Ø Swift reaction to feedback

Ø Termination of agreements

Ø Maintain currency of market recruitment trends

Ø Maintain relationships with HR organisations

Related to Strategic Objectives: All

Responsibility: CEO & Human Resources Manager

Risk

Small staff team

Ø Identify and source potential casual staff to call on in times of sickness/ holiday

Ø Planning for holidays/ leave

Ø Maintain relationships with HR organisations

Ø Offer incentivised pay structure for casual staff

Related to Strategic Objectives: All

Responsibility: CEO & Human Resources Manager

Enrolments per month

Number of training and assessment staff (FTE)

Number of administration/ support staff (FTE)

1–50

1

0.5

51–100

1.5

1

101–150

2

1.25

151–200

2.5

1.5