Strategic Plan. Preparation Methodology

Transcription

1 Strategic Plan Preparation Methodology The following diagram clearly highlights the systematic methodology adopted in preparing Majmaah University Strategic Plan, illustrating all its different aspects and stages (strategic level). Notably, the model s various phases, including their relevant tasks and activities, have been firmly adhered to by the plan team in order to eventually formulate a comprehensive consistent strategic plan for the university enjoying good deal of consensus based on a robust scientific methodology. The following lines briefly illustrate all such phases and their sub-activities and tasks.

2 Balanced Scorecard: The New Approach It should be noted that results-driven strategic planning depends on addressing four issues: 1. Where are we now? 2. Where do we want to be in the future? 3. How can we get to that future position? 4. How can we measure our progress? Stages of building the strategic plan Where are we Status quo analysis To where Vision & mission What Strategic goals (4) Objectives (41) how Initiatives (431) Right track? Measure indicators(100) There are various methodologies for strategic planning for higher education institutions in the modern era, and that leads to the imposition of conscious choice of the methodology compatible with the main objective of building university plan. As Majmaah University is newly established and emerging with high ambitions based on the human and physical potentialities, inspired by the determination of its leaders to reach a distinct academic level in a few years, for all that Balanced

3 Scorecard was chosen as a methodology for building the strategic plan of the university colleges and Deanships, taking into account the current situation and based on the aim to follow up and evaluate the performance and achievements on an ongoing basis over the long and medium term, in order to achieve a balanced pathway to reach the desired future of the University. In light of the methodology used, building the strategic plan of the university colleges and Deanships depended on identifying realistic and not impossible strategic or detailed objectives, shortand medium-term, consistent with the aspirations of all parties concerned and also taking into account the limits and dimensions of the current situation of the University, and the time period of the plan that longs for three years. That can help to create opportunities to bridge the gaps in performance according to whether a transactional path based on harmony with the aspirations of the capabilities and resources or a transformational path with its essence of raising the performance efficiency to achieve the goals and objectives. BSC Perspectives for Majmaah University

4 Philosophy of strategic planning using Balanced Scorecard The Balanced Scorecard is a comprehensive evaluation process that helps to transform the vision and strategy of the university into four main groups of metrics, as well as to achieve a balance between them. It is a balance between external dimension, represented by the beneficiaries, partners, and internal dimension represented by the processes carried out within the university, as well as the perspective of learning and growth on the one hand, and perspectives of Finance on the other hand. It also combines the indicators and the results of past, present, and the indicators that lead the future performance of the university. The aim of the Balanced Scorecard is to achieve a balance between the goals at the level of the educational institution, and at the level of the real achievements, and therefore it helps to draw paths in the light of future indicators to measure specific goals. The objectives of the balanced scorecard can be clarified as follows: 1. Developing a mechanism to apply the strategies and performance monitoring in accordance with the plans drawn and strategies stemming in turn from university ambitions.

5 2. Designing and construction of a performance management system based on the method of balanced performance measurement. 3. Following-up the achievement of strategic objectives through key performance indicators. 4. Supporting human resources at all organizational levels to work through the mechanism of a consensual goal-setting and its association led strategies. 5. Making the strategy as the sole engine of all objectives by linking detailed strategy and the adoption of the principle of cause and effect. 6. Translation of the University vision and mission and its issues to a consistent set of strategic objectives and definite performance measurement standards, through the four main dimensions: - Customers and Beneficiaries - Learning and growth - Internal processes - Economic and financial performance 7. Determining the responsibilities and objectives to be achieved for each of the standards that have been identified and the formulation of initiatives that help to achieve them. Building the Balanced Scorecard: Steps for Success

6 1. Studying the regulations and laws that govern the work of the university and the national goals for higher education development plans in the Kingdom 2. Assessing the current status of the university colleges and Deanships through conducting an environmental analysis to determine the most important elements of the strengths and weaknesses, opportunities and threats 3. Determining the strategic goals and objectives according to the four strategic themes: - The relationship of beneficiaries and partners (Customer perspective) - The appropriate regulatory environment and the elements of learning, creativity and innovation (Learning & Growth perspective) - The efficiency and effectiveness of internal processes ( Internal Processes) - Effectiveness use of financial resources (Financial perspective) 4. Building a logical model linking different goals Objectives with each other through causal links cause & effect, so this model can be graded in a logical context including the various activities carried out by colleges, deanships and units of the university. This is done in a clear way through the formulation of the University Strategy Map. 5. Identification and formulation of key performance indicators KPI to measure achievement in meeting the goals so as to ensure balance in the medium and long term.

7 6. Designing a system for monitoring and reporting for the measurement of levels of the actual achievement compared to target levels according to performance indicators, to help in highlighting any deviations in performance. 7. Developing an action plan for the implementation of operational initiatives and projects that are determined to reach the target levels of achievement and then to achieve the strategic goals and detailed objectives.