Ferrum College

1
Ferrum College Strategic Planning Update
November 18, 2002
2
Planning Model Rationale
The benefit to the College is that the strategic
planning of the College is less likely to be a
set of compromised goals but rather a set of
forced choice goals that will lead to a specific
end that is intended and measurable. Furthermore,
the model requires that the College consider its
competition and its relation to the competition
in the marketplace.
3
Threats to Planning
Psychological Effect of Poor Economy Real
Effect of a Poor Economy Market Effect on
Endowment Pricing the College over 20,000
4
Threats to Planning (continued)
Competition Public Colleges Community Colleges
Technology Complacency Location
5
Threats to Planning (continued)
Demographics
Enrollment Drivers
Academic Reputation Academic Programs Social
Reputation
6
Strategic Planning Assumptions
Performance Based (within context of
Mission) Outside In Perspective Urgent Different
iated College Volatile Environment Focused
(Enrollment Drivers) Action-Oriented
7
Key Planning Concepts
Mission Statement/Vision Emphasis in
Majors/Curriculum Active Learning
Environment Marketable Identity
8
Key Performance Indicators (KPIs) Campus Wide
Goals
Key Performance Indicators Improve Fulltime
Enrollment Improve Student Learning/
Academic Success Reduce Spending Policy (5)
9
Key Performance Indicators (KPIs) Campus Wide
Goals
Campus Wide Goals Distinctive/High
Quality/ Recognizable Academic
programs Appropriate Size Student Body Public
Awareness Strengthen Financial
Assets Facilities
10
Initiatives Under Consideration
Presidents Goals Academic Programs Financial Mark
eting Recruitment
11
Draft Vision Statement
We envision Ferrum College as a regionally
recognized institution of (1200) undergraduate
residential students as well as (300)
non-traditional students, renowned for its
unique environment and academic programs that
combine theory and practice with experiential and
service learning that prepares its graduates to
be successful global citizens. The academic
program will be known for select professional
programs, grounded in applied liberal arts.
Student life will be known for its emphasis on
student development, in particular the areas of
athletics, service and leadership. As a college
of the United Methodist Church, both the
curriculum and co-curriculum will reflect the
ideals of spiritual development and value
formation. Ferrum College will express its
community partnership through educational
offerings and participation in civic activities,
organizations, and economic development.
12
Ferrum College Core Values
Church Relatedness Faith Based Character
Education Critical Thinking Career
Preparedness Global Citizenship
13
Specifically the Vision Includes
Ferrum College will teach students having a broad
spectrum of academic preparation. 70 of entering
students between 2.5-3.3 GPA 15 of entering
students greater than 3.31 GPA 15 of entering
students less than 2.49 GPA
14
Specifically the Vision Includes
Ferrum College will be recognized as a
residential learning community and will emphasize
active learning inside and outside of the
classroom through Seminar-type classes Required
internships Acknowledgement of student
experiences in courses and activities
(portfolios) Technology emphasis Service
learning Independent Study
15
Specifically the Vision Includes
Ferrum College will be recognized for its
select professional programs grounded in applied
liberal arts. Primary majors in Business, Human
Services, and Life Sciences Vertical integration
of general education courses Five courses/eight
semesters to graduate
16
Specifically the Vision Includes
  Ferrum College will contribute to society by
preparing competent, ethically grounded global
citizens. Graduates will be noted for their
career focus, value formation, problem solving
skills, and an understanding of the political,
historical, social, spiritual, and economic
implications of an issue.
17
Specifically the Vision Includes
Ferrum College will fund its programs primarily
through tuition, room and board and fees. 15 of
the students will demonstrate need between 1
7,999 52 of the students will demonstrate need
between 8,000 15,999 33 of the students will
demonstrate need between 16,000 and up
18
Specifically the Vision Includes
Ferrum College will capitalize on its distinctive
program to create a marketable identity.
19
Action Teams
Action Teams are charged with the task of
developing overarching direction for each
initiative of the plan. Specifically, the
overarching direction should consider threats,
ability to differentiate, and marketable identity
in the context of the new planning assumptions.
20
Action Teams
CW Campus Wide Goal Vision CW Goal
1,4,6,7,8 Academic Program CW Goal 1 Active
Learning CW Goal 1 Marketing CW Goal
46 Financial/Facilities CW Goal 78
21
Planning Time Table
Fall 02 Determine Planning Framework Spring 03
Determine Overarching Strategy Fall 03/
Promote Overarching Strategy Spring 04 Develop
Select Initiatives Fall 04 Implement Select
Initiatives Develop Initiatives Spring 05
Assess Planning Process Implement
Initiatives
22
Next Steps
Form Action Teams for Strategic
Planning Intensive 2 Day Workshop Jan
9-10 Action Decision-making Mindset Outcome
Overarching Strategy Tools Documents
Data to be provided
23
Ferrum College Strategic Planning Update
November 18, 2002