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Defining Value

Defining Value. Economic Benefit and/or Qualitative Benefit, A Case Study. Katherine Hauser Rubel & Adele Vuong. Claremont University Consortium. KRA 1 & 2:Value Measurement. WE BEGIN March 2010. CUC engages a consultant to facilitate a Strategic Planning process

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Defining Value

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  1. Defining Value Economic Benefit and/or Qualitative Benefit, A Case Study • Katherine Hauser Rubel & • Adele Vuong • Claremont University Consortium

  2. KRA 1 & 2:Value Measurement

  3. WE BEGINMarch 2010 • CUC engages a consultant to facilitate a Strategic Planning process • A Steering Committee is named to work with the consultant and lay out a plan • A Planning Group is named and, with the Steering Committee, each is to undertake a number of tasks which will result in Strategic Plan recommendations to take to the CUC Board of Overseers • Directors and others work in teams with the Planning Group

  4. Helpful Resources Good to Great by Jim Collins Consultant Max Stark of Max Stark & Associates Consultant Jason Saul of Mission Measurement LLC

  5. STRATEGIC PLANNING IS…A GROUP PROCESS TO DETERMINE:WHERE YOU AREWHERE YOU WANT TO GOHOW TO GET THEREAll humankind is divided into three classes: those that are immovable, those that are movable and those that move…Arabian proverbCUCOur Vision, Our Mission, Our Commitment, Our Values

  6. GOALSLofty, Exciting, Confusing • Identify and address CUC’s most important Strategic Issues and opportunities • Shape the approach to these issues and opportunities into a coherent organizational destination and strategic framework/plan with clear outcomes and accountabilities • Achieve staff consensus and a sense of ownership of this strategic framework and plan • Contribute to the evolution of the staff’s strategic thinking/planning tools and capabilities

  7. FORMAT/COMPONENTSDeterminations/Parts of the Plan • Identity: Vision, Mission, Values • Core Competencies / Core Capabilities • Key Result Areas (KRAs): 3-year Key Results (Outcomes), Strategic Work, First-year Priorities, and Major Resources • Strategic Focus • Implementation Plan: Resources, Accountability, Annual Actions

  8. TEAMS ARE RENAMED, REDEFINEDIt is not the strongest that survive nor the most intelligent, but rather those who are most responsive to change…CharlesDarwin • KRA 1 - Building the Market Competitiveness of Services • KRA 2 - Building the Financial Value of Services • KRA 3 - National Reputation/Branding • KRA 4 - Neutral Center for Entrepreneurship & Experimentation • KRA 5 - Our People and Culture

  9. WORKSHEETSRubber meets the road (rubber tries to find the road)August to October 2010 • Worksheet #1: What a specific service looks like at CUC currently • Worksheet #2: Strategic issues/opportunities • Worksheet #3: Looking at the external environment • Worksheet #4: Identifying our current strengths and weaknesses • Worksheet #5: Brainstorming major options

  10. KRA IBUILDING THE MARKET COMPETITIVENESS OF SERVICESStrategic Issues – Into 2011 • How do we evaluate our services? • How can we measure CUC’s market competitiveness for each of The Claremont Colleges? • How can we communicate our market competitiveness to TCC?

  11. DEFINING “MARKET” AND “MARKET COMPETITIVENESS”We will • Define market standards of each CUC service • Identify peer comparison institutions • Identify criteria for distinctiveness of selected services • Determine which services are leaders • Identify each service’s aspirational goals

  12. CUSTOMERS VS. USERSWho knew they were different? • Who is our Primary Customer? • Someone who is willing to pay for our product • Group for which our services/products are targeted • Decision maker(s) • Entities that sustain our existence • Anyone requesting or wanting our help or service • Conclusion: CUC’s Primary Customers are the Leaders of the Colleges

  13. USERS VS. CUSTOMERSSometimes not all that different • Who are our Users? • Those who use our service(s) • Those with whom we have a working relationship • Those who influence our potential • Sometimes they are both Customers and Users • Conclusion: CUC’s [end] Users are the Students, Staff and Faculty of The Claremont Colleges

  14. CHOOSING PEER INSTITUTIONS Time-consuming, Frustrating, Interesting • Which institutions are perceived by each of the Claremont Colleges to be their peers? • We began by interviewing the Student Deans & Admissions and the Institutional Research departments of TCCs – little agreement • The College Presidents were asked. They did not agree among colleges or with their two departments, even within their own colleges • KRA 1 team compiled the data and determined which were the top 5 and which 5 would be a subset of peer institutions to consider

  15. OUR PEER INSTITUTIONSA six-month Decision Tier 1 • Amherst • Carleton • Stanford • Swarthmore • Williams Tier 2 • Caltech • Middlebury • Occidental • Princeton • Wellesley

  16. CHOOSING SERVICES10 TO 8 TO 6 • How to decide which CUC services to first evaluate for Market Competitiveness? • Which services’ evaluations will be most important to our customers? • Do we choose a variety of services, e.g. student and administrative? • Which services serve the Colleges and not just CUC – internal and external services?

  17. SERVICES AND PEERSWe’re at a milestone • Six services have been chosen for the first round of evaluations: • Campus Safety –serving all seven of The Claremont Colleges and CUC • Card Center – a variety of services to students, staff and faculty • Chaplains – serving all of the students of TCC • Risk Management – serving all of TCC and CUC • Student Health – serving the students of TCC • Workers’ Compensation – serving all of TCC and CUC

  18. A SIMPLE FORM & A LEAP FORWARDPutting it together • Six services will list the Features/Functions of their departments • The process is detailed, time consuming, but clear • Special functions are a separate category • Resources are KRAs 1 and 2 • Metrics will be a challenge • We have made great progress

  19. Financial Value Example • $3.2M if each of The Claremont Colleges ran service on their own • __ • $2.3M to run service under Consortium Group Model • = • Save $900,000 using Group Model

  20. Financial Value Inputs • Financial Value • Delta • Key Assumptions • Group Model • Standalone Model • FTE • College Contributions • Pass-through Costs

  21. Financial Value Inputs

  22. THE RESEARCHActual comparisons begin • A Claremont Graduate University Research Intern • Peer Institutions web sites are a wealth of information • Peer Institutions first hand • Market competitive, market leaders, quality levels of distinction, the Strategic Planning process goal is to best serve our Customers, The Claremont Colleges

  23. Questions & Answers

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