Second, HBCU administrators must incorporate strategic planning initiatives and long-range planning that will include both internal and external environmental factors. According to A. J. Thompson and A. Strickland in Strategic Management (1995), administrators have to perform five traditional tasks to initiate the strategic planning process.
- Produce a clear vision and mission for the institution.
- Develop specific goals and objectives that will serve to guide the institution.
- Divide objectives into two groups: strategic objectives, which consider the environmental factors, including competition and other market forces, and financial objectives based on enrollment target and budget concerns.
- Reallocate resources to match the new order in priorities, an organizational structure the fits the needs, and reward and incentive systems for the stakeholders.
- Consistently evaluate, plan and make adjustments for internal changes and external opportunities in the marketplace.
Finally, HBCU administrators must adopt cost-containment strategies. Strategic planning, cost-containment and overall financial management are identified with most successful businesses and institutions. If administrators are not comfortable making decisions in this area, they must change their attitude if they are to survive in the 21st century.
— Dr. Walter A. Brown is an assistant professor in the higher education administration program at George Washington University. Darryl E. Allen is a doctoral student in the university's graduate school of business and public administration.
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