King Edward VII College Business Plan 2019 – 2021 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 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 To be a leader in vocational education and trainingTo establish and maintain high quality infrastructure supporting clients and staffTo be well led, high performing, profitable and accountableTo develop our people and resourcesTo develop our business through support of applied research Values The core values underpinning our activities are: Sustain excellence in training and assessmentPromote innovation across all of our business operationsBe a collaborative and caring community.Embrace difference and diversityDemonstrate integrity and equality of opportunity in all activitiesOperate with openness and accountability Overview This new business plan reflects our approach to the coming years. We commenced operations in 2010 with relatively low student numbers which then increased significantly. We do not expect these numbers to increase over the period 2019 – 2021 as we are currently nearing capacity in our Melbourne and Sydney campuses. We also expect stable costs with no major increases expected. Operational Objectives The following identifies the operational objectives we plan to achieve in pursuit of our strategic objectives. 2019PrioritiesKey performance indicatorsJulyImprove web site information to attract more students10% increase in students by June 2020 Improve market share by 5%SeptemberConduct annual internal auditAudit conducted, and continuous improvement identifiedOctoberDevelop and implement a cultural sensitivity and awareness program for staffAll staff trained in cultural awarenessDecemberStaff performance reviewsAll staff performance reviews conducted2020JanuaryIdentify staff required for new campusesStaff recruited and in placeJanuaryProvide information sessions showcasing the College (existing campuses)Identify at least 50 potential sign upsMarchDevelop online learning for all coursesAll courses offered online by end 2020JulyConduct annual internal auditAudit conducted, and continuous improvement identified Increase student numbers by 12% by June 2021NovemberStaff performance reviewsAll staff performance reviews conducted2021FebruaryUndertake scoping study for possible offshore campusScoping study completed by June 21 and decision made as to whether to proceedJulyConduct annual internal auditAudit conducted, and continuous improvement identifiedNov 20Staff performance reviewsAll staff performance reviews conducted The Market Market characteristics & conditions 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. Workforce needs for this sector have been identified as the need to develop an adaptive, responsive and diverse workforce, keep up with technology and to build effective leadership and management skills. This has informed King Edward VII choice of course delivery. 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. Although we will be setting up new campuses in Brisbane and Adelaide in mid 2020 and commencing in the new financial year (July 1) we expect these to be loss leaders initially. Our main aim is to build our brand. We do not expect there to be more than 50 students in each campus in the first year, as these locations are less popular than Sydney and Melbourne but are important for building our brand. Situation Analysis StrengthsWeaknessesPrice, value and quality Clear understanding of student requirements Delivery mode suitable for client requirements High quality learning & assessment materials Committed to quality ethical practice Ability to adapt to changing market conditions Effective and practical policies and procedures Competitive pricing Friendly organisational culture Level of available finance for investmentFocus on business and management courses only Substantial investment in Sydney and Brisbane meaning large financial outlay High staff turnover of trainers Lack of diversity in workforceOpportunitiesThreatsPotential for offshore delivery Target market experiencing growth To target other States and Territories Current portfolio of courses popular in target markets Potential to apply for Government fundingChanges in Industry/ Government legislation affecting students Adverse effects of government policies High level of competition Other RTO’s bad/ malpractice creating poor perception of training providers to clients Predicted uncertainties in the world economy impacting level of demand for training Low price competitors Failing to satisfy clients demands Marketing Strategies Potential students make their 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 other sources. We plan to develop our market share by: Offering online and blended learningProviding face to face information sessionsImproving our web siteContinually improving the quality of service given to clients’ pre-enrolment, during course delivery and through the provision of support services while remaining price competitiveFocusing on the provision of courses required by industryMaintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordinglyContinually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision makingConsistently satisfying individual client needs and demands at the same time as developing the knowledge and skills required by industryTargeting identified growth markets with planned, market appropriate campaigns employing a variety of promotional strategies and advertising mediumsOffering attractive fee structures to our clientsContinually improving the skills, knowledge and effectiveness of King Edward VII College through our commitment to training and developmentRegularly reviewing the effectiveness of all our operations and making improvements when and where necessary.
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