Strategic Plan 2019 – 2021 King Edward VII College

Strategic Plan 2019 - 2021

Strategic Plan

2019 – 2021

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 that 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

King Edward VII College provides high quality industry training that engenders participation and achievement.

Strategic Objectives

  1. To be a leader in vocational education and training
  2. To establish and maintain high quality infrastructure supporting clients and staff
  3. To be well led, high performing, profitable and accountable
  4. To develop our people and resources

Values

The 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

Target Market

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.

Building effective leadership and management skills of managers has been identified as particularly important. We also intend to capitalise on market needs for delivery of blended (classroom and online), as well as on-line 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.

Marketing Strategies

Students make their RTO selection 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 others.

Market share development

We plan to increase 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 satisfying 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 media
  • Offering attractive fee structures
  • Continually improving the skills, knowledge and effectiveness of King Edward VII College management and staff through our commitment to training and development
  • Regularly reviewing the effectiveness of all our operations and making improvements when and where necessary

Situation Analysis

StrengthsWeaknesses
Price, value and qualityClear understanding of student requirementsDelivery mode suitable for client requirements High quality learning and assessment materialsCommitted to quality ethical practiceAbility to adapt to changing market conditionsEffective and practical policies and proceduresCompetitive pricingFriendly organisational culture Level of available finance for investmentFocus on business and management courses onlySubstantial investment in Sydney and Brisbane meaning large financial outlayAgeing workforce for senior management positionsHigh staff turnover of trainersDifficulty in finding skilled trainers and assessors Lack of leadership and management skills of existing workforce Lack of diversity in workforce Human resources policies still in their infancy, for example, recruitment process not making full use of technology advances e.g. social media, no formal performance management system in place, no employer branding/employer of choice initiatives.
OpportunitiesThreats
Potential for offshore deliveryTarget market experiencing growthTo target other States and Territories Current portfolio of courses popular in target marketsPotential to apply for Government funding  Changes in Industry legislation affecting studentsPossible adverse effects of government policy changesHigh level of competition from other training providers in relation to target market plus competition for staffInstances of other RTO’s bad practice creating poor perception of training providers to clientsPredicted uncertainties in the world economy impacting level of demand for trainingLow price courses offered by competitorsFailing to satisfy clients’ demandsUnskilled trainers Ageing workforce

Operational Priorities

The following table identifies the operational priorities we plan to achieve in pursuit of our strategic objectives.

DatePrioritiesKey performance indicators
June 19Improve web site information to attract more students10% increase in students by June 2020 Improve market share by 5%
July 19Conduct annual internal auditAudit conducted and continuous improvement identified
Sept 19Develop and implement workforce planWorkforce plan developed and staff informed of key strategies.
Oct 19Develop and implement a cultural sensitivity and awareness program for staffAll staff trained in cultural awareness
Nov 19Implement staff performance management review systemStaff advised of new system and performance reviews conducted across the organisation.
Dec 19Identify suitable location for Sydney campusLocation identified and lease taken out
   
Jan 20Provide information sessions showcasing the College (Melbourne and Sydney)  Fit out Sydney campus ready for student admissions in February. Interview staff for commencement in Feb.Identify at least 50 potential sign ups   Sydney campus ready for operation
March 20Develop an online learning platform for all coursesAll courses offered on-line by end 2020. Increase student numbers by 12%
April 20Identify suitable location for Brisbane campusLocation identified and lease taken out
May 20Fit out Brisbane campus ready for student admission in June. Interview staff for commencement in June.Brisbane campus ready for operation
July 20Conduct annual internal auditAudit conducted and continuous improvement identified
Nov 20Staff performance reviewsAll staff performance reviews conducted
   
Feb 21Undertake scoping study for possible offshore campusScoping study completed by June 21 and decision made as to whether to proceed
July 21Conduct annual internal auditAudit conducted and continuous improvement identified
Nov 21Staff performance reviewsAll staff performance reviews conducted

Risk Management

The following section identifies the associated risks in pursuit of our strategic objectives and how we will deal with them.

Strategic Objectives

  1. To be a leader in vocational education and training
  2. To establish and maintain high quality infrastructure supporting clients and staff
  3. To be well led, high performing, profitable and accountable
  4. To develop our people and resources
RiskAustralian government changing policy in relation to industry
Accepting policy change will be a constant factor to manage An understanding of this should be instilled in all staffDevelop ability to foresee and react quickly to changeMaintain effective communication channels with stakeholdersDiversification of source marketsDevelop product range
Related to Strategic Objectives: All Responsibility: CEO & Administration Manager
RiskSignificant drop in cash flow
Identify operating costs as per future plans and past performanceIdentify available finance Efficient invoicing and debt recoveryAccurate income projectionsClose monitoring of expenditureArrange overdraft facilitiesScenario planning
Related to Strategic Objectives: All Responsibility: CEO & Administration Manager
RiskFailure to recruit planned number of clients
High quality delivery of all servicesSwift reaction to feedbackSkilled, motivated staffAttractive fee structuresEffective market researchDevelop plans for each marketAllocate finance for each marketMonitor performanceTake early corrective action if not meeting targets or expectationsMaintaining effective relationships with clientsMaintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 2, 3 Responsibility:  CEO
RiskThe world recession and the domino effect
Diversification of source marketsTarget markets with strong growth forecastedMonitor the economic trendsRegularly review performance in line with anticipated market conditionsDevelop culture of accepting continual changeReact quickly to changeScenario planningMaintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 3 Responsibility:  CEO
RiskOver committing resources
Balance activities with the amount of finance available for investmentFinancial planningMonitoring of cash flowReview invoicing and debt recovery systemSwift response to identified issuesAccessing financial advice
Related to Strategic Objectives: 1, 3 Responsibility:  CEO & Administration Manager
RiskAdverse changes in market conditions
Effective communication channelsContinuous market researchMonitor new markets and overall recruitments trends for all market segmentsScenario planningDevelop working knowledge of potential marketsNetworking Maintaining effective communication channels with all stakeholders
Related to Strategic Objectives: 1, 2, 3 Responsibility:  CEO
RiskChanges to relevant legislation
Emphasis on professional, ethical practices with all stakeholdersStaff trainingLeading by examplePolicy implementation and monitoringEffective communication channels with all stakeholdersAbility to manage changeManaging available finance for re-investment
Related to Strategic Objectives:  All Responsibility:CEO
RiskShortage of, and difficulty in recruiting, appropriate qualified, skilled trainers and assessors and other key staff
Development of workforce planOffer attractive salary packages, including full-time contracts to trainers and assessorsDevelopment of further HR policies and proceduresProvide opportunities for career progressionDevelop stimulating and enjoyable working environmentsCommitment to training and developmentCommitment to professional developmentSuccession planning to deal with ageing workforce
Related to Strategic Objectives: 1 & 4 ResponsibilityCEO
RiskFailure to meet and manage client’s expectations
Accurate and timely communication with potential and current clientsManagement of recruitment activitiesContinuous improvement systemRegularly review learning and teaching approaches, resources, structure and systemsClient management policies in academic and support servicesIndustry liaisonReviewing effectiveness of communication channels with clientsEmploying a continuous improvement approach to all operationsContinuous market research and actionSystematic feedback on management performance and personal reflection
Related to Strategic Objectives: All ResponsibilityCEO & Administration Manager
RiskFailure to comply with legislation
Consistently implement compliant policies and proceduresContinuous improvement systemCommitment to training and developmentSystematic review of policies and proceduresRegular reviews of all operations
Related to Strategic Objectives: All Responsibility:CEO& Administration Manager
RiskCompetitors undercutting prices
Maintain competitive pricing policyMonitor competitors’ prices and qualityRegularly review financial management models and processesContinue focusing on qualityContinue strategy of quality brand promotion
Related to Strategic Objectives: All Responsibility:  CEO
RiskFailure to control expenditure
Effective financial planning and reviewCo-ordination of activitiesSystematic review of practiceFinancial management and control systemsFacilities managementImplementation of efficient processesEfficient procurement of products and services  Cost comparisons prior to purchasing
Related to Strategic Objectives: 1, 2, 3 Responsibility:  CEO & Administration Manager
RiskOnly providing business and management courses
Weighing the relative advantages of diversification and specialisationMonitor recruitment trends in the marketForecastingMatch new and planned courses to market demandCost benefit analysisDeveloping reputation for being a specialist in business and management coursesDeveloping market share for delivery of business and management courses
Related to Strategic Objectives: 1 Responsibility:  CEO
RiskIneffective planning
Experienced management teamContinuous market researchPlanning systemOrganisation structure and systemsRegular review of structure, systems and proceduresExternal liaisonMaintaining effective communication channels with all stakeholders
Related to Strategic Objectives: All Responsibility:  CEO & Administration Manager
RiskNon-payment of course fees
Effective recruitment policiesReview of recruitment policies and market segmentsEfficient invoicingAttractive payment structuresPayment plansCash flow managementTiming of collecting fees
Related to Strategic Objectives: 4 Responsibility:  CEO & Administration Manager
RiskRate of growth in client numbers
Systematic review of systems and practiceBuying in knowledge and skillsSourcing reliable market informationStrategic and operational planningReview and, if indicated, amend management structureDevelop policies and proceduresRegular reviews of capacity and operation of all functional and curriculum areasGood communication channels with stakeholdersRecruitment policyFinance available for expansion
Related to Strategic Objectives: 1, 3 & 4 Responsibility: CEO & Administration Manager
RiskUnethical or unprofessional practices of staff (when employed)
Staff selection processes Staff monitoring systemsPrevious experience of managing staffSwift reaction to feedbackTermination of agreementsMaintain currency of market recruitment trendsMaintain relationships with HR organisations
Related to Strategic Objectives: All Responsibility:  CEO & Administration Manager
RiskSmall staff team
Identify and source potential casual staff to call on in times of sickness and holidaysPlanning for holidays and leaveMaintain relationships with HR organisations Offer incentivised pay structure for casual staff
Related to Strategic Objectives: All Responsibility:  CEO & Administration Manager

Workforce Development

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 and assessment as well as support and 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 levels of human resources are appropriate for the level of enrolments.

Trainers and assessors as well as administrative and support staff will be employed part time on casual contracts initially. However, as it has been difficult to find appropriately skilled trainers and assessors, it is hoped to offer at least two full-time contracts in the near future.

Lack of skilled trainers and assessors is a key issue. Key skills required are high level knowledge and skills in adult learning and the design and development of assessment tools.

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 monthNumber of training and assessment staff (FTE)Number of administration and support staff (FTE)
1-5010.5
51-1001.51
101-15021.25
151-2002.51.5
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