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
- To be a leader in vocational education and training
- To establish and maintain high quality infrastructure supporting clients and staff
- To be well led, high performing, profitable and accountable
- To develop our people and resources
Our values are:
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.
- Embrace difference and diversity
- Demonstrate integrity and equality of opportunity in all activities
- Operate with openness and accountability
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:
- Establishing two new campuses
- Offering online blended learning
- Providing face to face information sessions
- Improving our web site
- Continually improving the quality of service given to clients 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 satisfy 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 mediums
- Offering attractive fee structures to our clients
- Continually improving the skills, knowledge and effectiveness of King Edward VII College 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
- To be a leader in vocational education and training
- To establish and maintain high quality infrastructure supporting clients and staff
- To be well led, high performing, profitable and accountable
- 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 | |
- Workforce Development Plan
- Over the duration of this plan it is projected that student enrolments will increase at least 10% per annum. It is anticipated that the increase in enrolments will be accommodated by employing extra human resources. Appropriately qualified and experienced training/ assessment and support/ administration staff will be appointed.
- Enrolments will be monitored on an ongoing basis and a formal review of this plan will be undertaken every six months. During review the management will decide if the level of human resources are appropriate for the level of enrolments.
- Trainers/ assessors and administrative/ support staff will be employed part time on casual contracts initially.
- The following criteria will be employed as a guide for deciding the level of human resources compared to enrolments. These projections are a guide only and may be adjusted through time.
|
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 |
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