The purpose of this exercise is to provide you the opportunity to create a strategic plan for your college or university.
Complete the five steps of the strategic planning process shown below. Then answer the discussion questions.
Five Steps of Strategic Planning
1. Establish the mission and vision of Wichita State University.
2. Assess the Current Reality
? Conduct a SWOT analysis.
What are the strengths of WSU?
What are the weaknesses of WSU?
What are WSUs opportunities?
What are WSUs external threats?
? Assess Competitive potential with VRIO for WSU.
? Who should WSU benchmark against?
3. Formulate strategies
? Apply the BCG Matrix to the different units (colleges and schools, for example Barton School of Business) in Wichita State University
? Apply Porters 5 forces to WSU
? What type of Grand/Corporate Strategy does WSU follow or which should they follow?
4. Establish a set of goals (2-3) WSU can pursue in an attempt to achieve its vision and grand strategy.
5. Establish processes and procedures (1-2) WSU should put in place to monitor goal achievement.
Questions for Discussion
1. Why is it important for an organization whether private, public, or not-for-profitto have a strategic plan? Explain your rationale.
2. Do you think that a strategic plan can ever be totally accurate? Why or why not?
3. Who do you think should be involved in developing and maintaining a strategic plan?
4. How would you grade (A through F) the strategic plan at Wichita State? Explain your rationale.
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