This document is Strategic and Operational Plan.
It is part of the supporting assessment resources for Assessment Task 2 of BSBHRM602.
Strategic & Operational Plan
XXXXXXXXXX
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 that 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
King 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
Values
The core values underpinning our activities are:
· Sustain excellence in training and assessment
· Promote innovation across all of our business operations
· Be a collaborative and caring community
· Em
ace difference and diversity
· Demonstrate integrity and equality of opportunity in all activities
· Operate with openness and accountability
Target market for services
King Edward VII College has two
oad 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.
Building effective leadership and management skills of managers has been identified as particularly important.
This has informed King Edward VII choice of delivery.
We also intend to capitalise on market needs for delivery of blended (classroom and online), as well as on-line 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
· Price, value and quality
· Clear understanding of student requirements
· Delivery mode suitable for client requirements
· High quality learning and assessment materials
· Committed to quality ethical practice
· Ability to adapt to changing market conditions
· Effective and practical policies and procedures
· Competitive pricing
· Friendly organisational culture
· Level of available finance for investment
· Focus on business and management courses only
· Substantial investment in Sydney and Brisbane meaning large financial outlay
· Ageing workforce for senior management positions
· High staff turnover of trainers
· Difficulty in finding skilled trainers and assessors
· Lack of leadership and management skills of existing workforce
· Lack of diversity in workforce
· Human resources policies still in their infancy, for example, recruitment process not making full use of technology advances e.g. social media, no formal performance management system in place, no employer
anding/employer of choice initiatives.
Opportunities
Threats
· Potential for offshore delivery
· Target market experiencing growth
· To target other States and Te
itories
· Cu
ent portfolio of courses popular in target markets
· Potential to apply for Government funding
· Changes in Industry legislation affecting students
· Possible adverse effects of government policy changes
· High level of competition from other training providers in relation to target market plus competition for staff
· Instances of other RTO’s bad practice creating poor perception of training providers to clients
· Predicted uncertainties in the world economy impacting level of demand for training
· Low price courses offered by competitors
· Failing to satisfy clients’ demands
· Unskilled trainers
· Ageing workforce
Operational Priorities
The following table identifies the operational priorities we plan to achieve in pursuit of our strategic objectives.
Date
Priorities
Key performance indicators
June 18
Improve web site information to attract more students
10% increase in students by June 2018
Improve market share by 5%
July 18
Conduct annual internal audit
Audit conducted and continuous improvement identified
September 18
Develop and implement workforce plan
Workforce plan developed and staff informed of key strategies.
Oct 18
Develop and implement a cultural sensitivity and awareness program for staff
All staff trained in cultural awareness
November 18
Implement staff performance management review system
Staff advised of new system and performance reviews conducted across the organisation.
Dec 18
Identify suitable location for Sydney campus
Location identified and lease taken out
2019
Jan 19
Provide information sessions showcasing the College (Melbourne and Sydney)
Fit out Sydney campus ready for student admissions in Fe
uary.
Interview staff for commencement in Fe
uary.
Identify at least 50 potential sign ups
Sydney campus ready for operation
March 19
Develop an on-line learning platform for all courses
All courses offered on-line by end 2016.
Increase student numbers by 12%
April 19
Identify suitable location for Brisbane campus
Location identified and lease taken out
May 19
Fit out Brisbane campus ready for student admission in June.
Interview staff for commencement in June.
Brisbane campus ready for operation
July 19
Conduct annual internal audit
Audit conducted and continuous improvement identified
November 19
Staff performance reviews
All staff performance reviews conducted
2020
Feb 20
Undertake scoping study for possible offshore campus
Scoping study completed by June 17 and decision made as to whether to proceed
July 20
Conduct annual internal audit
Audit conducted and continuous improvement identified
Nov 20
Staff performance reviews
All staff performance reviews conducted
Marketing Strategies
Students make their RTO selection 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 cu
ently 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 cu
ent and potential clients, VET and business sectors, competitors, media and government along with many others.
Market share development
We plan to increase our market share by:
· Establishing two new campuses
· Offering on-line blended learning
· Providing face to face information sessions
· Improving our web site
· Continually improving the quality of service given to client’s pre-enrolment, during course delivery and through the provision of support services while remaining price competitive
· Focusing on the provision of courses required by industry
· maintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordingly
· Continually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision making
· Consistently satisfying individual client needs and demands at the same time as developing the knowledge and skills required by industry
· Targeting identified growth markets with planned, market appropriate campaigns, employing a variety of promotional strategies and advertising media
· Offering attractive fee structures
· Continually improving the skills, knowledge and effectiveness of King Edward VII College management and staff through our commitment to training and development
· Regularly reviewing the effectiveness of all our operations and making improvements when and where necessary
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
· Accepting policy change will be a constant factor to manage
· An understanding of this should be instilled in all staff
· Develop ability to foresee and react quickly to change
· Maintain effective communication channels with stakeholders
· Diversification of source markets
· Develop product range
Related to Strategic Objectives: All
Responsibility: CEO & Administration Manage
Risk
Significant drop in cash flow
· Identify operating costs as per future plans and past performance
· Identify available finance
· Efficient invoicing and debt recovery
· Accurate income projections
· Close monitoring of expenditure
· A
ange overdraft facilities
· Scenario planning
Related to Strategic Objectives: All
Responsibility: CEO & Administration Manage
Risk
Failure to recruit planned number of clients
· High quality delivery of all services
· Swift reaction to feedback
· Skilled, motivated staff
· Attractive fee structures
· Effective market research
· Allocate finance for each market
· Monitor performance
· Take early co
ective action if not meeting targets or expectations
· Maintaining effective relationships with clients
· Maintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 2, 3
Responsibility: CEO
Risk
The world recession and the domino effect
· Diversification of source markets
· Target markets with strong growth forecasted
· Monitor the economic trends
· Regularly review performance in line with anticipated market conditions
· Develop culture of accepting continual change
· React quickly to change
· Scenario planning
· Maintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 3
Responsibility: CEO
Risk
Over committing resources
· Balance activities with the amount of finance available for investment
· Financial planning
· Monitoring of cash flow
· Review invoicing and debt recovery system
· Swift response to identified issues
· Accessing financial advice
Related to Strategic Objectives: 1, 3
Responsibility: CEO & Administration Manage
Risk
Adverse changes in market conditions
· Effective communication channels
· Continuous market research
· Monitor new markets and overall recruitments trends for all market segments
· Scenario planning
· Develop working knowledge of potential markets
· Networking
· Maintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 2, 3
Responsibility: CEO
Risk
Changes to relevant legislation
· Emphasis on professional, ethical practices with all stakeholders
· Staff training
· Leading by example
· Policy implementation and monitoring
· Effective communication channels with all stakeholders
· Ability to manage change
· Managing available finance for re-investment
Related to Strategic Objectives: All
Responsibility: CEO
Risk
Shortage of, and difficulty in recruiting, appropriate qualified, skilled trainers and assessors and other key staff
· Development of workforce plan
· Offer attractive salary packages, including full-time contracts to trainers and assessors
· Development of further HR policies and procedures
· Provide opportunities for career progression
· Develop stimulating and enjoyable working environments
· Commitment to training and development
· Commitment to professional development
· Succession planning to deal with ageing workforce
Related to Strategic Objectives: 1 & 4
Responsibility: CEO
Risk
Failure to meet and manage client’s expectations
· Accurate and timely communication with potential and cu
ent clients
· Management of recruitment activities
· Continuous improvement system
· Regularly review learning and teaching approaches