2009 Webinar On Strategic Change

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Tools and approaches for executive leaders and trustees to recognize and address the need to transform the business model in light of the economic downturn.

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2009 Webinar On Strategic Change

  1. 1. Create the Future: History Starts Now Create the Future: History Starts Now Ellen‐Earle Chaffee, Ph.D. Visiting Scholar, Harvard University President Emerita, Valley City State University President Emerita Valley City State University January 2009 Webinar pm Strategic Change in Higher Education
  2. 2. Face the Monster: What Do You Need? Face the Monster: What Do You Need? • Retrenchment – Minimize damage until better times • Turnaround – Times were tough before; we need change • Transformation – This is it; we want/need reinvention
  3. 3. You Probably Need You Probably Need Turnaround Or Transformation • Efficiency, financial health • Turnaround actions PLUS • Adaptation: programs Adaptation: programs,  • Fundamental change d l h markets, services, and costs – New mission • Leadership and  – New business model communication
  4. 4. Turnaround Guidelines Turnaround Guidelines • Improve quality Improve quality • Reduce cost • Meet significant, real societal needs i ifi l i l d • Through a strategic turnaround plan that is – Multi‐faceted – Aggressive – Data‐driven
  5. 5. Transformation Guidelines Transformation Guidelines • Turnaround guidelines PLUS g • Challenge fundamental assumptions and modes  of operation • Re‐evaluate the “job to be done,” how strengths  could deploy better to meet needs – New learners methods schedules incentives New learners, methods, schedules, incentives,  teaching strategies, financial resources, human  resources, prices, …. “Reinventing Your Business Model” by Mark W. Johnson, Clayton M. Christensen, and Henning  Kagermann. Harvard Business Review D K H dB i R i December 2008 www.hbr.org reprint 0812C b 2008 hb i t 0812C
  6. 6. Consider Transformation Consider Transformation If: • Exciting and important opportunities are on Exciting and important opportunities are on  your doorstep (they ARE) • Visionary leadership with strong support OR Visionary leadership with strong support OR  chronically poor institutional “health” • V Venture capital can be found i l b f d
  7. 7. Essentials: VISION and PLAN Essentials: VISION and PLAN • Where you’ll be in 3‐5 years Where you ll be in 3 5 years • Measureable results to define it • Deep understanding & acceptance of what it  d di & f h i will take to get there • Strategic plan: innovations and change  strategies, business case, aimed at results • Process for monitoring & correcting
  8. 8. Balanced Scorecard: Measurable Results Categories bl l • Financial stability and strength • Quality, client perspective  Quality client perspective • Business processes, operational efficiencies • Learning and growth L i d h Robert S. Kaplan and David P. Norton, The Balanced Scorecard: Translating Strategy into Action, Harvard Business School Press, 1996. Harvard Business School Press 1996
  9. 9. Keys to Success Keys to Success 1. 1 Financial reprieve Financial reprieve 2. Board/CEO+ synergies of thought and action 3. 3 Support: Data, advice, facilitation S d i f ili i 4. Methods and tools 5. Confidence, discipline, communication
  10. 10. Support, Methods, Tools Support, Methods, Tools • Expertise (people books articles research) : Expertise (people, books, articles, research) :  quality and process improvement, cost containment,  turnaround, metrics, strategic planning, crisis  , , g p g, communication, change management • Methods and Tools: balanced scorecard,  , alignment, process redesign, strategic planning,  enterprise software, instructional technologies,  outsourcing, partnering, planning retreat, annual  goals, performance reviews, incentive systems

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