Strategic Business Plan Assignment

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 recognized 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

1. To be a leader in vocational education and training.
2. To be a leader in innovation in the vocational education and training sector.
3. To establish and maintain high quality infrastructure supporting clients and staff.
4. To be well led, high performing, profitable and accountable.
5. To develop our people and resources.

Values

The core values underpinning our activities are:

• Sustain excellence in training and assessment.
• Promote innovation across all of our business operations.
• Be a collaborative and caring community.
• Embrace difference and diversity.
• Demonstrate integrity and equality of opportunity in all activities.
• Operate 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 significantly over the period 2020 – 2022 as we are currently nearing capacity in our Melbourne and Sydney campuses.

We also expect stable costs for our existing campuses with no major increases expected. However, there will be significant financial investment required for the new campuses.

Resourcing

Financial

Due to the success of the College to date, there are significant cash reserves to fund the new campuses, plus general initiatives, including quality training and assessment and continuous improvement and innovation.

Staffing

Regarding staffing, existing staff will perform key functions across the new campuses such as human resources and marketing. They will also perform any new functions arising such as responsibility for quality and innovation.

Operational Objectives

The following identifies the operational objectives we plan to achieve in pursuit of our strategic objectives.

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’s choice of course delivery.

We also intend to capitalise on market needs for delivery of blended (classroom and online), as well as online 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 2021 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

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