After evaluating its strategic planning in terms of the first five steps proposed by Chabotar (2006), this essay would present and assess the next five steps of strategic planning, to wit: (6) strategic and other indicators, (7) evaluation, (8) action steps, (9) revenue and costs; and (10) assessment.
Cornell University identifies specific goals and missions per colleges and divisions, in addition to the over-all university mission, vision, and objectives. By closely monitoring the progress of these colleges and divisions, the scope of achievement in organizational goals is clearly measured.
In evaluating the strategies enumerated, the CASH model would be a tool to assess the viability of the plan. There is a need to refine budget and capital planning processes, seeking greater transparency, accountability, and alignment of resources with priorities. In addition, the strategies should maximize the investment return of Cornells endowment and other financial capital, within acceptable levels of risk, in order to better support the institutions academic mission.
To achieve the clearly defined organizational goals and objectives of Cornell University, the following action plan is recommended: (1) Continue to invest in areas of long-standing disciplinary and interdisciplinary strength, which have given Cornell a well-deserved reputation for academic distinction; (2) Provide competitive pay and benefits, and research support to recruit and retain the best faculty and staff; (3) Increase scholarship support for students over the next five years and reduce self-help and debt levels, which now exceed those of our peers. Ensure that undergraduate and graduate financial-aid policies are consistent with recruitment and enrollment priorities; and (4) Ensure outstanding academic administration by refining deans search procedures and improving succession planning, among others. (Cornell University, Strategic Plan, 2009)
As both revenue and cost are critical inputs to a