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Developing Your Institutional Plan
Joan GillmanDirector, Special Industry Programs Small Business Development Center
UW Madison School of Business608-262-9982
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Small Business Answer Line
Statewide Help!
608-263-7680(800) 940-7232
Mon - Fri: 8:30 am - 4:30 pm
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Planning
The secret of success is to be ready
for opportunity when it comes
Disraeli
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Planning
Plans are nothing.Planning is everything!
Dwight D. Eisenhower
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What is a business/institutional
plan?“The finest memory is not so firm as written
ink.” — Lao-Tse1.A short written document.2.A working model of your business.3.A process of learning more about your
business.4.A tool to communicate to staff and BOD.
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EAB Institutional Plan The Mission/Vision The Market
– What is your business?– Who are your existing and/or potential customers and
what motivates them to enroll in your institution?– How do you let customers know you are in business?– Who are your competitors and how are you different
from them? The Management
– Who is in your management team and what each one’s strength?
– Who is on your advisory board?
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EAB Institutional Plan Conduct a SWOT analysis (strengths-
weaknesses-opportunities-threats)– Write
• 3-5 goals from the SWOT analysis for strengths/weaknesses and how your institution will address them.
• 3-5 goals for opportunities-threats and how you will address them.
– Include a time line for completion and metrics for success -evaluation/measurement.
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EAB Institutional Plan Future Think
– Describe your institution 5 years from now and how it will be positioned in the market place.
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EAB Institutional Plan
The Institutional Plan should be roughly three (3) pages. Accredited schools should adapt their corporate/accreditation institutional plan to fit the above requirements and have the Institutional Plan focus on its Wisconsin operation and students.
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Mission Statement Worksheet
Customers Products and/or
Services Markets Economic
Objectives
Beliefs, Values and Aspirations
Distinctive Competence Competitive Advantage Public Image Concerns for
Employees
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Upstart’s definition evolves...
Upstart is a publishing company. Upstart publishes useful and applicable
business management books for small business owners.
Upstart profitably publishes useful and applicable how-to material for motivated small business owners, would-be owners, and organizations interested in making small business owners succeed.
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UW-Madison SBDC Mission
To enhance the success of small business owners and managers in our three county service area of Dane, Sauk and Columbia counties and to encourage growth in our economy.
To be a valuable and innovative resource for business, recognized by the business and economic communities as a major contributor to the economic health of our service area.
To achieve our mission through practical, customer-focused management education, training, counseling and networking.
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The Market
The number of people and their total spending (actual or potential) for your product/service within the geographic limits of your distribution ability.
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The Market – What is your business?
What business are you in? Why will you succeed in this business? What is your experience in this
business? Why is your business profitable? What is happening in the industry?
Convince the reader (and yourself) that you have a solid knowledge of the business and industry.
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What are you selling?
Product or service:Perfume
Features:ExpensiveAromaticFrench
Benefits:HopeStatusLove
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Who are your existing and/or potential
Customers? Consumers Businesses Manufacturers Institutions Government
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Market Analysis Find potential customers who
want/need your product. Identify customers who are ready to
buy. Let the customers know that you can
fill their need. Find the customers who will pay---you!
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What motivates them to enroll? Your customer’s
point of view Benefits Features conveying
benefits Competitive
advantage of your products or service
Needs or desires they satisfy
Check insights with customers
“What’s in it for me?”
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Product and/or Service What are you selling? What are the benefits of your products and
services? What benefits are you selling? What is special about your products and services? Which products are rising stars? Cash cows? In
decline or investments in owner’s ego? What’s different about your goods and services? What are your advantages over the competition? Why will people buy from you?
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Features versus Benefits
Sample Features:Size
ShapeWeight
Made of cottonUsed by LauraAs seen on TV
Green
Sample benefits:Convenience
SafetyGuaranteed
Needs no replacementSurety
Sex appealBrings love, wealth
and happiness
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BASICS
BASIC MOTIVES DON’T CHANGEThere are always the general wishes to
become an attractive person, to love and be loved, to be part of exciting groups, to be
viewed positively, to create a desirable home environment, to be a productive worker, to be
in the know.
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BUT...The ways to satisfy these wishes change over time and differ among market segments
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You have to know:
Who are the individuals in your target market?
What, when and why do they buy from you?
What benefits do you provide them?
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Target Markets Geographic
Distance Time Traffic patterns Topography Social & cultural factors
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Target Markets Consumer Demographics
Age Income Social Class Gender Employment Education Residence Family Status Race Religion
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Target MarketsPsychographics
Values, Interests and Lifestyles Benefits Hobbies Reading Occasions Usage Rates Loyalty
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Keys to Marketing Success
Good product or service Meeting a perceived need Enough potential buyers Advantageous timing Brand name awareness Differentiation Saleable at a profit Persuasive communication
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How do they know about you?
Promotions Advertising
PublicityPublic relations
“Word of mouth”
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Promotion The means by which a
customer obtains information to make a purchase decision about your product.
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Promotion Examples
A web site Brochures Press releases Direct mail Seminars
Conference presentations
Trade show displays Radio/TV
appearances Ads in trade journals
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Promotion
What is your advertising budget?
How do you promote your business?
Do your markets know what business you are in?
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Competitors
Direct:1.2.3.4.5.
Indirect:1.2.3.4.5.
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MarketingCompetition
Compare to your competition on: Quality and performance Warranty-guarantee Service Selection Convenience-availability Price
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MarketingCompetition
Compare to your competition on: Quality and performance Warranty-guarantee Service Selection Convenience-availability Price
You can’t compete on all these areas and make a profit!!
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Competitive Research
Advertising Yellow Pages Patronize Ask your customers Ask your suppliers Start a file for each competitor, clippings, notes,
copies of ads, filings, legal proceedings. Shop the competition.
The scouting reports. Strategic alliances.
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The Price/Quality GridHigh Price
Low HighQuality Quality
Low Price
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Management Functions
Planning Organizing Staffing Leading Communicating Controlling Innovating
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Management
Who comprises the management team?
What are their qualifications?
Board of Directors Advisors,
consultants and others
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What is a “SWOT” Analysis?
Internal:External:
StrengthsOpportunities
Weaknesses Threats
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Industry Analysis
Major players Size of the market Environment
– Technological developments– Economic Developments– Regulatory Developments– Demographic Developments
Major trends
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GoalsSpecific
Measurable
Achievable
Relevant & Reasonable
Timely
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Future Think
What is your institution going to look like in 3-5 years.
How are you going to get there?
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AAPPPPRROOVVEEDD SSCCHHOOOOLL IINNSSTTIITTUUTTIIOONNAALL PPLLAANN Wis. Stats. 38.50 EAB X.XXX (Rev. 11/08)
STATE OF WISCONSIN EDUCATIONAL APPROVAL BOARD
30 W. MIFFLIN STREET, 9TH FLOOR MADISON, WI 53703
(608) 266-1996
1. BACKGROUND AND OVERVIEW As the Educational Approval Board (EAB) moves from a compliance-based regulatory model to one that is also based on institutional effectiveness, the EAB is requiring schools to submit an institutional plan during the annual renewal process. Although similar to a strategic or business plan, the plan schools must submit will enable the EAB and school officials to discuss improving the school over time. Institutions that already have a strategic or business plan (e.g., schools that have corporate or accreditation plans) must adapt them to the following requirements and focus on Wisconsin operations and students. Although the EAB has elected not to prescribe a specific template that schools must use, institutional plans must include the five elements identified below and provide the information requested.
II. INSTITUTIONAL PLAN ELEMENTS 1. MISSION Describe your school’s mission and vision, which identifies the school’s purpose and its core values.
2. MARKET Discuss the nature of your school and the business in which it is engaged. Describe who your existing and/or potential customers are and what motivates them to enroll in your school. Explain how you let these customers know you are in business. Finally, identify who your competitors are and how you are different from them.
3. MANAGEMENT Describe your management team and how it functions to lead, administer and position the school. If your school has advisory boards, identify the types of individuals who serve on them.
4. SWOT ANALYSIS Based on a SWOT analysis identify the school’s strengths, weaknesses, opportunities and threats. Also, provide the following:
3 to 5 goals for strengths/weaknesses and how they will be addressed by your school. 3 to 5 goals for opportunities/threats and how they will be addressed by your school.
In addition, include a timeline for completing the goals identified and metrics (some type of evaluation or measurement) for their success.
5. FUTURE THINK Describe your school five (5) years from now and how it will be positioned in the market place.
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Focus!
Focus!
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Assignment
Finish the Business/Institutional Plan
BE SUCCESSFUL AND HAPPY, GO FORTH AND PROSPER