“What business strategy is all about, what distinguishes it from all other kinds of business planning – is, in a word, competitive advantage. Without competitors there would be no need for strategy, for the sole purpose of strategic planning is to enable the company to gain, as effectively as possible, a sustainable edge over its competitors.”
Japanese Management Guru Keniche Ohnae could not have better described the current environment in the business school industry. In such a competitive, globalized, rankings-saturated market, successful business schools must be managed like businesses. Businesses where the product is a leader infused with the right amounts of management expertise, financial savvy, knowledge, ethical compass and, of course, competitive advantage.
At the Hankamer School of Business, our business strategy is something we’ve been analyzing and working to improve through a collaborative planning process spearheaded by our Strategic Development Council. We have crafted a set of goals that considers our heritage and strengths, along with our relationship with the University, while embracing the opportunities presented by the 21st century. The strategic direction of the School is shaped by seven goals:
Goal 1: Learning Environment: To be acknowledged as a premier and innovative source of active learning.
Goal 2: Research: To produce highly regarded research.
Goal 3: Student/Faculty/Staff: To attract, support and retain diverse and highly qualified participants.
Goal 4: Principled Leadership: To be recognized for our learning, service, thinking and research outcomes on ethics in business with a focus on Christian perspective.
Goal 5: Globalization: To develop, support and produce faculty and graduates with experiences in international business and culture.
Goal 6: Career Development: To foster opportunities for career development of our students and to enhance their initial placement.
Goal 7: Relationships: Establish and nurture ongoing, mutually beneficial relationships among all relevant communities.
Throughout this magazine you will see examples of how we are addressing these seven goals and weaving them throughout the day to day business of our school. At the top of each article will be an icon corresponding to the goal that is at work in the story.
You will learn more about our strategic vision and how we intend to gain a competitive advantage for our students and alumni network through advancements such as an entrepreneurship department focused on technology innovation and social entrepreneurship, the creation of a School of Accountancy, accreditation of our healthcare administration program, an endowment to support our graduate program and growing our Dallas and Austin EMBA programs.
We are excited about what the future holds for the students, faculty, staff and alumni of the Hankamer School of Business. Enjoy the magazine and let us know what you think of our plans. Post your comments at www.baylor.edu/bbr
Terry S. Maness
Baylor Business Review, Spring 2007