Priorities and goals of the - PowerPoint Presentation

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Priorities and goals of the Howe School 5-Year Strategic Plan

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Our Strategic Priorities:

Identity

Impact

Growth

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To be a unique Business School with technology at our core

Identity

Impact

Growth

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Change name & rebrand the school as a Business School with technology at our core

Clarify our distinctive advantages: technology, analytics, relevance, NYC

Develop business

majors, evolve grad programs

by capitalizing on our distinctive

advantages

Attract world-class business faculty at areas of strong need

Earn

AACSB Accreditation

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Name Change & Rebranding

The current school name, the Wesley J. Howe School of Technology Management, is too narrow, does

not represent well what we

do, nor what

we plan to do in the future.

We worked with a brand consultant, Sequel, to conduct research to identify a new name. Several names were considered and the firm strongly recommended the

“Howe School of Business”.The name is now being reviewed with Stevens leadership and will be presented to the Board of Trustees and ultimately the Howe family.

If approved, we will focus on a branding campaign that takes into account new school name.

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Clarify Distinctive Advantages

All Howe School offerings (educational programs and research initiatives) are linked by common distinctive advantage of having technology at the core. This will be demonstrated through concentrations, courses, case studies, visiting lecturers, etc.

Analytical problem solving approach.

We have a strong foundation in business analytics and this permeates through our programs.

Real-world orientation

.

We combine theoretical knowledge with real-life relevance. We inflict a problem-solving approach. Our educational programs and research have practical relevance. Proximity to the industry hub of New York City

, provides us key advantages over our competitors outside region in business education

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Expand Undergraduate MajorsWe will establish important points of parity with other undergraduate business schools by introducing majors.

Fall 2013 Freshman Class: Marketing, Finance, Management, Information Systems

– already decided and in process of finalizing programs

Fall 2014 Freshman Class:

Economics

– to be decided in Spring 2013Other future possibilities: Accounting, International Business, Business & Engineering, Business IntelligenceAdding majors should expand

the pool of applicants, grow the school, improve the selection criteria, and offer more opportunities to current students.

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Evolve Graduate ProgramsSimplify

and evolve our current MBA, MSM and

EMTM

programs. Develop MBA as a

lockstep

program. Explore MSM as FT program.

Develop and further improve the curricula and the synergies between our specialized MS degrees: MS in Business Intelligence & Analytics (BI&A), MS in Enterprise Project Management (EPM), MS in Information Systems (MSIS).

Emphasize FT graduate programs, mainly for BI&A and MSM programs.Work with other schools and programs inside and outside Stevens to support of further develop select and successful interdisciplinary

programs (EMTL)

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Engage in Active Faculty Hiring

Attract top business faculty that help strengthen key areas, build our identity as a business school with technology at our core, and contribute to our strategic goals. Objective: reach 50 FT faculty.Needed areas include scholars with Ph.D.’s with excellent research and strong teaching

ability in

core business disciplines (Marketing; Finance; Economics; Accounting; Information Systems; Operations; Business Intelligence & Analytics

).

Hiring plan is to expand by 6 faculty members in Y1, and by 2 faculty members in Y2-Y4. Already 3 faculty members have been hired for Y1, and offers are about to go out for the remaining 3 positions.

These numbers have resulted from a detailed capacity planning exercise, taking in consideration the needs of the new majors, as they unfold. They are also needed to satisfy the AACSB criteria.

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Pursue AACSB AccreditationWe seek to gain AACSB accreditation, the

gold standard for business schools and an important consideration for both students and employers.AACSB accreditation involves meeting important standards involving assurance of learning and faculty

sufficiency and qualifications.

Our application process was started in 2007, but was temporarily paused in 2010, mainly to focus on faculty hiring.

We submitted our reinstatement application in October, 6 months ahead of our 2013 deadline. The application was accepted and our accreditation process is reactivated.

We will work to satisfy any remaining standards that are not satisfied, focusing on the faculty hiring plan and the Assurance of Learning requirements.

Our goal is to earn AACSB as quickly as the application process will allow, which we estimate will be 2015.

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We will have a positive impact in our community and the world

Identity

Impact

Growth

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L

ead in focused research areas

Disseminate our

academic programs + our research

results throughout academia and industry

Collaborate internally on areas of

S

tevens strategic interest

Build strong networks with top universities internationally

Produce graduates who impact industry and government.

Build an outstanding reputation.

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Lead in focused research areas

Our research will provide solutions for industry, government, and academia. We will direct our research to three main research areas

Creativity, Innovation, and Entrepreneurship

: Generating ideas, products, and processes;

Collaboration, Networks and Markets

: Understanding the changing nature of teams, organizations, crowds, and economies;

Decision

Analytics and Big Data: Building collective intelligence.We will measure our research impact through indicators, e.g.

P

ublications in top journals

,

G

rants

awarded,

SSRN ranking, citations, and others. 11

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Disseminate our academic programs

Develop a strategic and marketing plan for each program.

Promote, jointly with the Office of Marketing and Communications, our academic programs.

Improve the

web presence

of all the programs

Launch the “Howe Quarterly” Newsletter to disseminate progress at the Howe School to alumni, corporates, employers, students, friends

Talk in conferences and write articles or white papers for the programs we offer, to provide the thought leadership basis for our programsBI&A, EPM, MBA, EMTM

B&T, QF

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Disseminate our research results

Publish in the top journals, focusing in FT-45 journals, ABS4, ABS3, and journals with impact factor >

1.5.

Pursue actively

collaborative research and research

grants

with top institutions globally.Organize a “Howe School Research Day

” to disseminate our research within Stevens.Organize an annual conference of international interest. Participate in leading national & international conferencesPursue

actively our

SSRN research rankings

. Continue our excellent performance to date.

Launch the

SSRN e-

journal

to disseminate our working paper

series to academia.Launch a “Thought Leadership Newsletter” (“KnowHowe”) to disseminate our research results to industry and alumni.Research reputation will follow as a result of the above13

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Through collaborations, Impact

Promote collaborations within the SchoolCreate synergies

through the newly created

areas

Assist junior faculty

to prepare High Quality proposals

Promote collaboration within StevensEntrepreneurship education

Research on big dataResearch on strategic areas, mainly on finance

,

health care

International collaborations

China

: promote research on innovation, big data, leadership

Promote existing

exchange

agreements (U Amsterdam, U College Dublin, TU Berlin, IIT Delhi)Build new exchange agreements (Europe, S. America, Asia)Expand current joint degree programs (EPITA, CUFE)Explore international study trips14

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Student Impact

Focus on the learning experience of the students.

Provide opportunities for students to get a good understanding of the

reality of business,

t

hrough projects, invited lectures, internships,

etc.Develop further the international awareness of our students, so that they are internationally competitive.

Develop further the sense of social responsibility of our students, so that they can become responsible citizens and leaders.

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Strengthen the reputation

Need to strengthen the image/reputation of Howe/Stevens among multiple stakeholders: Deans and Presidents, Companies/Employers, Academia, High School Counselors, etc.

Academic reputation

: Publicize our

programs,

faculty successes, students’ career successes

, corporate training engagements, …Research reputation: Pursue actively and improve our SSRN

research rankings, publish in the top FT-45 journals, pursue collaborative grants, develop & disseminate research newsletterGlobal visibility: Undertake roles such as

conference chairs, authors of international books, editors, officers

in professional

societies,

keynote speakers, evaluators of grant proposals, members in high

visibility boards,

etc.

Alumni and outreach:

Launch a newsletter, bring the alumni closer to the school, …16

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We will stand for quality in all that we do

Identity

Impact

Growth

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Provide High Quality Student

Support.

Develop efficient operations

Provide High Quality teaching

Attract and

maintain High

Quality

students

Hire and grow High Quality faculty

Develop High Quality Research

Build strong alumni relations

Build strong corporate relations

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Provide HQ* Student Support

Continuously develop the newly launched Student & Faculty Support as

a student-centric hub

that makes

students

feel at

home. Improve the faculty advising processes

from more of a reactive process to a proactive one that focuses on higher order needs. Utilize the new

Salesforce

system

, to provide real-time student information, manage courses, streamline operations, and

support

curriculum decisions

.

Enhance the system to further provide a unified budget system, and assist in financial planning

.Develop efficient operations; improve efficiency in classroom operations by bringing average section sizes to 25.Improve student experience to achieve a retention rate of at least 95% and 6-year graduation rate according to SIT standards.18

*HQ

= High Quality

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Deliver HQ Teaching

Quality of teaching and student learning are extremely important and are major contributors to student retention.Continuously monitor the AACSB standards for the Assessment of

Learning

Create

incentives

for top teaching

; develop metrics for teaching performance; publicize results

of teaching performanceUndertake a comprehensive curriculum review that includes class observation, review of cases and other class materials used; monitor degree to which the school’s

distinctive characteristics

are reflected in the

programs.

Selectively hire and monitor adjuncts carefully.

Select adjuncts that are Academically or Professionally Qualified, and perform excellent teaching

Offer faculty and doctoral students

teaching development opportunities

.Strengthen technology and methods for online teaching. Improve our online offerings, and invest in educational technology19

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Hire, maintain and grow HQ Faculty

Faculty is the key differentiator of every good University. Howe needs to develop a strategy and incentives to attract and retain top research talentUndertake an internal study to identify the satisfaction and the need-to-be-improved areas from the point of view of the faculty. Identify incentives

and awards for top performing faculty.

Increase the tenured and tenure-track faculty

as a proportion of the full-time faculty.

Selectively hire and monitor adjuncts carefully. Select adjuncts that are Academically or Professionally Qualified, and perform excellent teaching.Invite top faculty for sabbaticals, invite faculty for short visits and seminars.

Continue and enhance the annual faculty review process. Mentor and develop faculty. Assist faculty to improve teaching and research performance.

Develop 2 fully

endowed Chairs

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Conduct HQ ResearchEmphasize

research in top journals and provide publication bonuses for motivation.Foster a

research culture

through

collaborations, colloquiums

, incentives, celebration of successes. Improve the IT infrastructure and increase the

database subscriptions to enhance research.Use the newly established areas to

create synergies among faculty.Pursue funded research

in a focused way; assist junior faculty to develop HQ proposals

.

Develop

metrics of research performance

, such as papers in top journals, grants, citations, etc.

Expand the

doctoral program

: include new courses/disciplines, to support new faculty hires and better doctoral recruits. Increase the number of Doctoral assistantships.21

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Attract and maintain HQ Students

We will attract more graduate students that have business, math, science and computer science backgrounds.We will increase the standardized test scores

:

G

raduate

masters students by 12%.

Doctoral students by 10%. SAT by

5%. We will promote a greater diversity of international graduate students, and we will promote a greater number

of

international undergraduate students.

We will promote a

greater representation of

women and minorities

in our programs.

We will increase our retention and 6-year graduation rates.

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Undertake outreach activities

Build strong alumni relations

Work with Development Office to identify, track, and communicate with every

Howe School alumnus

.

Build a

database of alumni (per graduating class, per region, per sector)

.Encourage alumni to participate in key activities of our school.Provide alumni with strong networking

opportunities.

Add alumni to our

advisory boards

.

Increase

alumni giving.

Engage the international alumni.Build strong corporate relationsDevelop strong Advisory Boards for the School and the programsMaintain close relationships with “cohort-companies”.Maintain close relationships with “employer-companies”.Maximize the value of the HSATM network.Expand to companies in the same sectors as the companies in above categories.23

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Our undergraduate and graduate student body and faculty will be larger and more diverse

Identity

Impact

Growth

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Grow our u/g student body to 500

Grow our grad student body to 1,080 and our doctoral students to 21

Increase the % of FT students and the international diversity in our grad student body

Grow our faculty to 50 FT faculty

Launch at least 1 additional u/g major and at least 1 grad program

Increase the number of “

cohort” degree or certificate

programs

Increase the

engagement of our alumni

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Growth Goals

In a 5-year period, we will grow enrollment as follows:Undergraduate students to 500 full-time students (base of 250)*

, and business minors to 100 students (base of 25).

M

asters students to

1,080 students (base of 900).D

octoral students to 21 full-time and 5 part-time students (base of 14 full-time and 6 part-time).Hire additional faculty to accommodate student body growth. Enhance the diversity of our student body.Increase the engagement of our alumni and of the key employers.

*By 2020, we seek to grow to 800-1000 u/g students. This will contribute significantly to the University’s plan to grow u/g students by 1400 by 2020 and will bring Howe to about 25% of the University’s u/g student body, in line with other B-Schools in technological Universities.

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Why grow?

Bigger impact. Growth in students and faculty would help to expand our contributions to industry and research.

More options for students

. More students and faculty would allow us to expand each program’s academic offerings, e.g., electives, frequency of courses, choice in faculty.

Stronger networking opportunities.

A bigger school would expand links between students and graduates, allowing for more networking that can last a lifetime.

Better employment opportunities. Larger size would make it more worthwhile for key employers to recruit at Stevens as it improves their opportunities for hiring.

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What is needed for growth

Significant financial investment in:Marketing and communications, focusing on the Howe School as a Business School of choice for tech-savvy future business leaders

A focused approach by the Admissions Office to support our vision and growth objectives

Faculty hiring to about 50 FT faculty to support the

growth and the new majors

Administrative support to achieve enhanced outreach and communications, improved service

IT infrastructure, especially in big data and quantitative finance

Doctoral research assistantships, to enhance research and faculty growthIncreased classroom and office space

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Undergraduate Growth Strategies (1)

Undertake extensive and focused marketing and communications effort, to build awareness of being the university of choice for

undergraduate students

who seek to become tech-savvy business leaders.

Add new business majors and develop curriculum infused with technology.

Update and promote our business minors (entrepreneurship

, economics, finance, marketing, international business and information systems) to ensure relevance and fit with study plan, and promote heavily. Be leaders in entrepreneurship curriculum across university, e.g., core entrepreneurship course for all majors and entrepreneurship curriculum integrated into senior design experience.

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Partner with Admissions to:Create shared

annual growth targets Participate in all Admissions events (about 20 per year);

Support them in all other outreach activities

Supplement Admissions activities, e.g.

:

Improve website/social media presence

Email campaigns to students and schoolsBuild

relationships with high school business clubsVisit select high schools

Collaborate

with more closely with Athletics

Create

strong collateral (print, electronic

)

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Undergraduate Growth

Strategies (2)

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Graduate Growth Strategies (1)

Collaborate with the University’s Marketing and Communications division to undertake active marketing for the graduate programsImplement

processes to improve the conversion rate (acceptances > enrollments)

Creat

e annual growth targets by program, type of student (FT

vs

PT), origin (domestic vs. international), etc.Emphasize FT graduate programs, increase the number of US students, and ensure that the international students are from a diverse set of countries.

Streamline our core MBA offering, emphasize specialized MS programsCollaborate with Admissions to develop recruiting activities by visiting Colleges and fairs.

Increase the number of graduate scholarships to 10/program, by 2015

Build close relationships with other universities to offer 5 year programs that combine undergraduate degrees at those universities with our graduate degrees such as BI&A, MSIS, and EPM

.

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Graduate Growth Strategies (1)

Maintain and increase a strong international presence; establish international chapters, organize our international alumni; participate in international events

Create

a

strategy that involves alumni in helping attract new graduate students and corporate cohorts

.Engage and align with industryExpand our offerings to corporations by tailoring (mainly certificate) programs to align with their desired outcomes.

Develop and distribute research that is relevant to industry; pursue research funding from industry; build close relationships with industry leaders to grow our opportunities to participate in research grants and student scholarships.Solicit fellowships from industry; pursue funding of chairs, of programs, of research infrastructure

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Our Strategic Priorities:

Identity

Impact

Growth

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Next StepsAn assessment of financial impact and identification of funding sources

Detailed action plan, identifying priorities, owners of actions, time requirementsStrategic plans for each programDetailed marketing and promotions plan

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Thank you!

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