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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 January 2009 Webinar pm Strategic Change in Higher Education. Face the Monster: What Do You Need?. Retrenchment

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Create the Future: History Starts Now

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  1. Create the Future: History Starts Now Ellen-Earle Chaffee, Ph.D. Visiting Scholar, Harvard University President Emerita, Valley City State University January 2009 Webinar pm Strategic Change in Higher Education

  2. 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. You Probably Need Turnaround Or Transformation Turnaround actions PLUS Fundamental change New mission New business model • Efficiency, financial health • Adaptation: programs, markets, services, and costs • Leadership and communication

  4. Turnaround Guidelines • Improve quality • Reduce cost • Meet significant, real societal needs • Through a strategic turnaround plan that is • Multi-faceted • Aggressive • Data-driven

  5. Transformation Guidelines • Turnaround guidelines PLUS • 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, teaching strategies, financial resources, human resources, prices, …. “Reinventing Your Business Model” by Mark W. Johnson, Clayton M. Christensen, and Henning Kagermann. Harvard Business Review December 2008 www.hbr.org reprint 0812C

  6. Consider Transformation If: • Exciting and important opportunities are on your doorstep (they ARE) • Visionary leadership with strong support OR chronically poor institutional “health” • Venture capital can be found

  7. Essentials: VISION and PLAN • Where you’ll be in 3-5 years • Measureable results to define it • Deep understanding & acceptance of what it will take to get there • Strategic plan: innovations and change strategies, business case, aimed at results • Process for monitoring & correcting

  8. Balanced Scorecard:Measurable Results Categories • Financial stability and strength • Quality, client perspective • Business processes, operational efficiencies • Learning and growth Robert S. Kaplan and David P. Norton, The Balanced Scorecard: Translating Strategy into Action, Harvard Business School Press, 1996.

  9. Keys to Success • Financial reprieve • Board/CEO+ synergies of thought and action • Support: Data, advice, facilitation • Methods and tools • Confidence, discipline, communication

  10. Support, Methods, Tools • Expertise (people, books, articles, research) : quality and process improvement, cost containment, turnaround, metrics, strategic planning, crisis 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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