Lake Superior State University Academic Program Review Accounting: Bachelor of Science

Lake Superior State University
Academic Program Review
Accounting: Bachelor of Science
Academic Year 2014-2015
Contribution to LSSU Mission/Vision
Programs
Lake Superior State University’s Accounting: Bachelor of Science program is offered by the
Lukenda School of Business (LSB). The LSB is one of LSSU’s 12 schools and is part of the
College of Business and Engineering. LSB students comprise approximately 14% of LSSU’s
total enrollment. The LSB organizational structure is presented in Appendix 1.
In addition to its main campus programs offered in Sault Ste. Marie, MI, the LSB offers degree
completion programs at regional centers in Petoskey, MI and Escanaba, MI, allowing students to
earn a LSSU degree without traveling to the University’s main campus. LSB regional center
classes are offered on a rotating-basis and are usually scheduled on weeknights or weekends to
accommodate nontraditional and working students. The following table summarizes the degree
programs offered by the LSB.
Degree Program
Campus
Escanaba
Accounting: Bachelor of Science
Petoskey
Sault Ste. Marie
Escanaba
Business Administration: Bachelor of Science
Petoskey
Sault Ste. Marie
Escanaba
Business Administration – Entrepreneurship: Bachelor of Science
Petoskey
Sault Ste. Marie
Escanaba
Business Administration – International Business: Bachelor of Science
Sault Ste. Marie
Escanaba
Business Administration – Management: Bachelor of Science
Petoskey
Sault Ste. Marie
Business Administration – Marketing: Bachelor of Science
Sault Ste. Marie
Finance and Economics: Bachelor of Science
Sault Ste. Marie
Personal Computer Specialist: Associate
Sault Ste. Marie
Small Business Administration: Associate
Sault Ste. Marie
Technical Accounting: Associate
Sault Ste. Marie
1
Mission/Vision/Strategic Plan
LSB administration, faculty and staff worked together in the summer of 2013 to revise the
School’s mission, vision and strategic plan. The group considered information from various
sources when drafting these documents including the following:
 LSSU mission, vision and strategic plan
 Higher Learning Commission and ACBSP requirements
 Enrollment, retention and graduation rates
 Major Field Test results
 Senior survey, alumni survey and professional advisory board survey results
The following is the LSB mission statement:
Through dedication to excellence in teaching, the Lukenda School of Business develops students
to become economically, socially, and environmentally responsible, and empowers them to
become business and community leaders in a global society.
The following is the LSB vision statement:
The Lukenda School of Business will grow and evolve to keep our students at the forefront of
sustainable business practices and technological advances. The School will distinguish itself by
contributing to regional economic development, as well as providing experiential learning
opportunities that capitalize on the unique setting.
The group adopted the seven strategies from the LSSU strategic plan as the framework for the
2013-2018 LSB strategic plan. It then created objectives to achieve the strategic goals and action
plans to achieve the objectives. The LSB strategic plan is presented in its entirety in Appendix 2.
Accreditation
The Accounting: Bachelor of Science program was one of six LSB programs to receive initial
accreditation by the Accreditation Council for Business Schools and Programs (ACBSP) in
November 2014. Although not required for certification or licensing purposes by any of its
programs, the LSB sought specialized accreditation to focus on the quality of its programs and to
establish a formal process for ongoing evaluation and improvement. The LSB chose ACBSP
because its accreditation process is uniquely focused on teaching excellence and student
outcomes.
2
Metrics of Productivity
The information provided below supports continuation of and institutional investment in LSSU’s
Accounting: Bachelor of Science program.
The following tables show that the accounting bachelor program contributes significantly to
LSSU’s total enrollment. While the program is one of ten (10%) LSB degree programs, its
students consistently comprise 27-29% of LSB’s total enrollment. In addition, while the
accounting program is one of LSSU’s 89 degree programs (1%), its students consistently
comprise 3-4% of LSSU’s total enrollment.
Academic Accounting Program Percentage of Percentage of
Year
Enrollment
LSB Students LSSU Students
2009-2010
81
27%
3%
2010-2011
85
29%
3%
2011-2012
82
27%
3%
2012-2013
92
29%
4%
2013-2014
90
27%
4%
Academic Accounting Program
LSB
LSSU
Year
Enrollment Change Enrollment Change Enrollment Change
2009-2010
4%
-1%
1%
2010-2011
5%
-1%
3%
2011-2012
-4%
5%
5%
2012-2013
12%
4%
-8%
2013-2014
-2%
4%
-4%
The following tables indicate LSSU accounting bachelor students continue in the program to
efficiently earn degrees. In recent years, several accounting students have continued at LSSU for
an extra semester or year to earn 150 credits to meet the Certified Public Accountant education
requirements, in turn generating additional revenue for the University.
Academic Year
2009-2010
2010-2011
2011-2012
2012-2013
2013-2014
Accounting Program
Graduates
24
12
14
7
19
Average Semesters
To Degree
6*
8
8
9
Not Available
*Analysis of the 2009-2010 data indicates students graduating during this academic year had a
large number of transfer credits due to regional center degree completion programs.
Academic
Year
Accounting Program
LSB
LSSU
Retention Rate
Retention Rate Retention Rate
3
2010-2011
2011-2012
2012-2013
2013-2014
50%
80%
75%
67%
80%
67%
63%
64%
68%
70%
70%
70%
The following table provides information for the 2013/2014 academic year and indicates
dedicated LSSU accounting faculty members also contribute significantly to the University’s
profitability. LSSU employs two full-time faculty members on the main campus (Hunter &
McCready), one part-time faculty member in Escanaba (Beckon) and two adjunct instructors in
Petoskey to teach over 20 accounting courses each year.
Faculty Member
Beckon, Susan
Hunter, Jodi
McCready, Mindy
Student
Credit Hours
Generated
110
472
721
Semester
Hours
Taught
10
24
27
Number
of Preps
3
6
6
Number of
Accounting
Advisees
11
24
36
Number of
Other
Advisees
2
0
6
Internal and External Program Demand
External Demand
Career opportunities are virtually limitless for an accounting graduate entering the job market, as
accountants are employed in all areas of business, industry, government, law and education. The
following information indicates accountants are in demand in the State of Michigan and
throughout the United States.




According to the Michigan Department of Technology, Management and Budget, the
number of accounting and auditing jobs will increase 10.1% from 30,960 in 2010 to
34,070 in 2020. (http://milmi.org/admin/uploadedPublications/703_occ_g13.htm)
Accountants and auditors are listed as #3 on Michigan’s “Hot 50” list of high-demand,
high wage careers. Michigan’s Bureau of Labor Market Information and Strategic
Initiatives projects 1,290 annual job openings through 2018 with an average hourly wage
of $30.93. (http://www.milmi.org/?PAGID=67&SUBID=170)
The Bureau of Labor Statistics projects the number of accounting and auditing jobs will
increase 13.1% from 2012 to 2022. An additional 166,700 positions will need to be filled
during that time period. (http://www.bls.gov/ooh/business-and-financial/accountants-andauditors.htm)
According to the National Association of Colleges and Employers, the 2014 average
starting salary of accounting majors is $52,900. (https://www.naceweb.org/)
LSSU accounting students get rewarding jobs in their field. Employers who have hired recent
graduates include:
 Anderson, Tackman and Company
4









Central Savings Bank
City of Sault Ste. Marie
Hantz Financial Services
Lake Superior State University
Old Mission Bank
Plante Moran
Precision Edge Surgical Products
Rehmann
Sault Ste. Marie Area Public Schools
Internal Demand
Demand for the accounting bachelor program by LSSU students is demonstrated by program
enrollment numbers presented above and course enrollment numbers presented below.
Academic Year Enrollment
Course
2009-2010 2010-2011 2011-2012 2012-2013 2013-2014
ACTG132
120
122
63
95
97
ACTG133
67
54
64
73
65
ACTG232
14
13
17
17
29
ACTG233
20
13
12
14
17
ACTG332
10
14
12
15
25
ACTG333*
12
32
10
40
20
ACTG334*
35
12
34
9
35
ACTG350
12
11
16
13
10
ACTG421
20
16
19
11
22
ACTG422*
41
16
35
10
39
ACTG427*
34
14
35
14
31
ACTG432*
21
35
8
46
13
ACTG433*
19
36
7
42
11
*Course is offered at the regional centers every other year
5
The following table shows that several accounting courses are requirements of other programs,
both within and outside of the LSB.
Required Course
ACTG132
ACTG133
ACTG232
ACTG233
ACTG332
ACTG421
Degree
B.A. Fine Art Studies
B.A./B.S. Political Science-Pre-Law
B.A./B.S. Sport and Recreation Management
B.S. Business Administration
B.S. Business Administration-Entrepreneurship
B.S. Business Administration-International Business
B.S. Business Administration-Management
B.S. Business Administration-Marketing
B.S. Finance and Economics
B.S. Parks and Recreation
B.S. Political Science-Public Administration
Associate Personal Computer Specialist
Associate Small Business Administration
Associate Technical Accounting
B.A. Fine Art Studies
B.S. Business Administration
B.S. Business Administration-Entrepreneurship
B.S. Business Administration-International Business
B.S. Business Administration-Management
B.S. Business Administration-Marketing
B.S. Finance and Economics
Associate Personal Computer Specialist
Associate Technical Accounting
Associate Technical Accounting
Associate Technical Accounting
Associate Technical Accounting
Associate Technical Accounting
6
Minor
Accounting-Finance
Economics-Finance
General Business
Accounting-Finance
Economics-Finance
Accounting-Finance
Program Quality
The LSB demonstrates its commitment to quality through the employment of academically and
professionally qualified accounting faculty members. These dedicated faculty members deliver a
rigorous curriculum to students while actively pursuing professional development opportunities
to improve their classroom performance. The accounting faculty members also perform external
service activities that enhance the program’s visibility and reputation. The accounting faculty
members’ qualifications are summarized in the following table.
Years
At LSSU
Faculty Member
Rank
Beckon, Susan
Assistant
Professor
18
Hunter, Jodi
Assistant
Professor
5
Assistant
McCready, Mindy Professor
7
Highest
Accounting
Degree
Certification Experience
Master of
Certified
8 years
Business
Public
public
Administration Accountant accounting
Master of
Certified
13 years
Science in
Management managerial
Accounting
Accountant accounting
Master of
Certified
7 years
Business
Public
public
Administration Accountant accounting
The following information provides additional evidence that LSSU’s Accounting: Bachelor of
Science is a quality program.







LSSU accounting professors bring their public and private accounting experience into the
classroom and focus on practical application. For example, accounting students have the
opportunity to prepare income tax returns for community members through the IRS
sponsored Volunteer Income Tax Assistance program. LSSU accounting professors also
work with students and employers to provide internship opportunities, many of which
lead to full-time employment upon graduation.
LSSU accounting students have the opportunity to participate in various student
organizations that allow them to further explore the business world including the
Accounting Club and Enactus.
LSSU accounting students have the opportunity to participate in a faculty-led study group
to prepare them to take the Certified Management Accountant exam before graduation.
The program has a comprehensive curriculum that allows graduates to sit for the
Certified Public Accountant and Certified Management Accountant examinations.
The program is accredited by the Accreditation Council for Business Schools and
Programs (ACBSP).
The mean score of all LSB students consistently equals or exceeds the national mean in
the accounting section of the Major Field Test in Business. LSB students’ mean
accounting score was higher than that of 88% of all institutions in the nation four of the
last five years.
The average Certified Public Accountant exam pass rate of LSSU accounting graduates
consistently exceeds the national average.
7
Program Assessment
The faculty of each LSB department collaborated during the 2012-2013 academic year to
develop program learning outcomes, measures and targets. They presented their
recommendations to the LSB Assessment Committee and the Dean for discussion and adoption.
The learning outcomes assessment plan for the Accounting: Bachelor of Science program is
presented below.
Objective
Measurement Instrument
Target
Graduates will:
Be able to apply accounting
standards to information for
financial accounting,
managerial/cost accounting,
governmental accounting,
auditing, tax and accounting
information systems purposes.
Be able to record, report and
communicate accounting
information relevant to
internal and external users.
Be able to work productively as a
member of a team.
Accounting program pre-test and
post-test
ETS Major Field Test in
Business
Business plan completed in
BUSN466
CPA Exam – Financial
Accounting and Reporting
section
Teamwork peer evaluation
completed in ACTG350
Internship Supervisor Evaluation
Demonstrate an understanding of
ethical accounting practices and
the potential consequences of
unethical business practices.
Be aware of international
accounting issues.
Accounting program pre-test and
post-test
CPA Exam – Regulation section
ETS Major Field Test in
Business
CPA Exam – Financial
Accounting and Reporting
section
Increase in the average score of
accounting majors will be 60% or
higher in the multiple choice
section
The mean score of accounting
majors will be in the 80th
percentile or above in the
accounting section
80% of accounting majors will
score 85% or higher in the
accounting section
LSSU pass rates will meet or
exceed the national pass rates
80% of accounting majors will
earn 80% or more of the possible
points
90% of accounting majors will
receive a rating of average or
above in the teamwork section
Increase in the average score of
accounting majors will be 60% or
higher in the essay section
LSSU pass rates will meet or
exceed the national pass rates
The mean score of accounting
majors will be in the 75th
percentile or above in the
international section
LSSU pass rates will meet or
exceed the national pass rates
For various reasons including time constraints and course rotations, it is not practical for
accounting faculty to assess every outcome every semester. Assessment results for those
measures concentrated on in recent periods are summarized below.
8
Objective: Graduates will be able to apply accounting standards to information for financial
accounting, managerial/cost accounting, governmental accounting, auditing, tax and accounting
information systems purposes.
Measure: ETS Major Field Test in Business (MFT)
Target: The mean score of accounting majors will be in the 80th percentile or above in the
accounting section when compared to student scores nationwide.
Main Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
Percent below the average
score of accounting majors
Target
F11
S12
F12
S13
F13
S14
Note: Only one accounting student took the MFT during the fall 2012 semester.
Petoskey Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
Percent below the average
score of accounting majors
Target
F11
F12
F13
Escanaba Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
Percent below the average
score of accounting majors
Target
S12
S13
S14
9
Objective: Graduates will be able to record, report and communicate accounting information
relevant to internal and external users.
Measure: Business plan completed in BUSN466
Target: 80% of accounting majors will score 85% or higher in the accounting section
Main Campus
100%
95%
90%
85%
80%
75%
70%
65%
60%
55%
50%
Percentage of accounting
majors scoring 85% or higher
Target
S12
F12
S13
F13
S14
Note: Although the target was not met for the last three semesters, only a total of 8 students
scored below 85%.
Escanaba Campus
100%
95%
90%
85%
80%
75%
70%
65%
60%
55%
50%
Percentage of accounting
majors scoring 85% or higher
Target
S12
S13
S14
Note: Although the target was not met for the last two semesters, only a total of 2 students
scored below 85%.
A chart is not shown for the Petoskey campus, as only two data points are available. The LSB
did not begin collecting this detailed information until the spring 2012 semester. BUSN466 is
only offered in Petoskey during fall semesters. During both the fall 2012 and fall 2013
semesters, 100% of Petoskey accounting students scored 85% or higher.
10
Objective: Graduates will be aware of international accounting issues.
Measure: ETS Major Field Test in Business (MFT)
Target: The mean score of accounting majors will be in the 75th percentile or above in the
international issues section when compared to student scores nationwide.
Main Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Percent below the average
score of accounting majors
Target
F11
S12
F12
S13
F13
S14
Petoskey Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Percent below the average
score of accounting majors
Target
F11
F12
F13
Escanaba Campus
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Percent below the average
score of accounting majors
Target
S12
S13
S14
11
Business plan results indicate that many accounting majors are not proficient at preparing and
analyzing financial statements. The accounting department has made adjustments to its
curriculum accordingly. Beginning in fall 2014, more emphasis has been placed on financial
statement preparation in the introductory and intermediate accounting courses. Financial
statement analysis is now a focus of the advanced accounting courses.
MFT results indicate that accounting students are not meeting the program objective of being
aware of international accounting issues. Consequently, the accounting department added a
credit hour to both ACTG432 – Advanced Accounting I and ACTG433 – Advanced Accounting
II in spring 2012 to allow international reporting standards to be added to the curriculum.
Beginning in fall 2014, accounting students are introduced to international accounting
regulations in introductory and intermediate accounting courses.
The LSB also assesses the common professional component of its programs. This plan is
summarized below.
Objective
Measurement Instrument
Target
Graduates will:
Demonstrate knowledge of
business-core subjects.
Demonstrate skills in
research, communications
and critical thinking.
ETS Major Field Test in Business
Business plan project completed
in capstone course (BUSN466 –
Business Policy)
LSB mean percent correct
will equal or exceed the
national mean in each
assessment indicator area
At least 80% of students will
earn 80% or higher
MFT results indicated that LSB students were weak in the Quantitative Business Analysis area.
When a management instructor retired in 2012, the LSB hired a replacement with a strong
quantitative background. The School also added MGMT371 – Operations and Business
Analytics as a required course for all business students. The LSSU mean score has equaled or
exceeded the national mean for the last three semesters. LSB students have also scored below
the national mean in the Information Systems area in recent periods. Thus, the School added
MGMT280 – Introduction to Management Information Systems as a required course for all
business students. The course was offered for the first time during the fall 2013 semester. In
addition, the LSB is closely monitoring scores in the International Issues area. The School has
added international content to its core classes and is considering adding an international business
course to its common professional component.
12
Opportunity Analysis
Facilities
LSSU received approval from the State of Michigan to proceed with the renovation and addition
of South Hall, the future home of the LSB. The renovated building will increase the square
footage dedicated to academics by providing classrooms, seminar rooms and flexible project
rooms. It will also connect students to the world through enhanced technology including a
securities trading lab and spaces equipped with digital displays and mobile and smart devices.
Goals
Measurable current and long-term goals of the LSB are detailed in the School’s strategic plan,
which is included in Appendix 2. Opportunities specific to the Accounting: Bachelor of Science
program are highlighted below.
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Develop professional relationships with more employers outside of our community to
expand internship and job opportunities for students.
Create more experiential learning opportunities for students similar to the Volunteer
Income Tax Assistance program.
Develop various tracks to allow students to meet the Certified Public Accountant 150credit hour requirement through a meaningful plan of study.
Employ an additional accounting faculty member on the main campus to allow current
faculty members to concentrate on assessment and improvement of the accounting
program and pursue additional professional development and research opportunities.
Employment of an additional faculty member would also enable the offering of elective
courses of interest to accounting students.
Adjust curriculum to include more general education electives per ACBSP requirements.
13
Appendix 1
Organizational Chart
Dean
Dr. David Finley
Chair
Professor Mindy McCready
Department of Accounting &
Management Information Systems
Professor Mindy McCready
Professor Jodi Hunter
Administrative Assistant
Mrs. Marcia Jenkins-Ball
Department of
Finance & Economics
Department of
International Business
Professor Gerald Root
Professor Robert Boston
Dr. Ralf Wilhelms
14
Department of Management,
Marketing & Entrepreneurship
Dr. Madan Saluja
Dr. Linda Schmitigal Snyder
Professor Valerie Philips
Professor Marta Diaz
Professor Shellie Masters
Appendix 2
Lake Superior State University
Lukenda School of Business
Strategic Plan
STRATEGIC GOAL 1: Collaborative, Committed Learning Community
LSB will develop a permanent and permeating culture of sharing ideas, knowledge, resources, and talent, fostering a sense of pride and
community.
1. STRATEGIC OBJECTIVE 1. LSB will strengthen participation in LSSU shared governance.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Track faculty participation on shared
governance committees.
Dean and Chair
Time for task
Ratio of
committees to
faculty members
Include committee reports on LSB
Time for task – 15
Number of
meeting agendas.
Faculty
minutes bi-weekly
reports
1. STRATEGIC OBJECTIVE 2. LSB will create opportunities for collaborations across programs.
Action Plan
Meet with all departments to review
new LSB courses and programs to
review/discuss collaboration.
Accountability
Chair and faculty
Resource
Requirements
Time for task – 12
hours total
15
Metric
Percentage of
departments met
with
Ongoing
2013
2018
Ongoing
2013
Planning
Horizon &
Deadline
3 years End of
2015/2016
academic
year
1.1
2
90% of LS
meeting agendas
contain
committee
reports
KPI
(Performance
Target)
100%
1. STRATEGIC OBJECTIVE 3. LSB will promote esprit de corps of students, faculty and staff.
Action Plan
Accountability
Resource
Requirements
Metric
Chair
New building
Student survey
Spring
2015
KPI
(Performance
Target)
80% of students
report usage and
satisfaction
Faculty survey
Number of
events
Spring
2015
2013
2018
90% faculty
satisfaction
4
8
Provide designated locations within
LSB for student-student and facultystudent interaction.
Provide improved, dedicated office
space for faculty and faculty-faculty
interaction.
Dean
New building
Host social events for students.
Dean and faculty
$4,000
Planning
Horizon &
Deadline
STRATEGIC GOAL 2: Desirable School of Choice (recruiting/academic reputation)
LSB will attract an increasing number of students who are academically prepared and reflective of society’s diversity.
2. STRATEGIC OBJECTIVE 1. LSB will increase enrollment.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Ongoing 2013
50%
Meet with prospective students who
100 hours and
Percentage of
2016
75%
visit campus.
Dean and faculty
trinkets
students met
2018
95%
Academic year
and summer
Develop academic year and summer
schedules
schedules for faculty availability for
Completed
completed
prospective student meetings.
Chair and faculty
2 hours
schedules
Ongoing
annually
Percentage of
admitted
Faculty and current
students
Contact admitted students.
students
Script and pizza
contacted
Ongoing
100%
16
End of
2014/2015
academic
Program
Develop MBA and/or Bachelor of
Developed
year
approval
Applied Management program.
Dean
Faculty, funding
program
2. STRATEGIC OBJECTIVE 2. LSB students will reflect the diversity of our region and we will prepare them for an increasingly global
society.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Percentage of
graduating
Assure all business students take the
2 contact hours per
seniors who take
Major Field Test in Business.
BUSN466 instructor
semester
test
Ongoing
90%
Track scores in international section of School assessment
2 hours for analysis
Mean student
Greater than
Major Field Test in Business.
committee
per semester
score
Ongoing
national mean
2. STRATEGIC OBJECTIVE 3. LSB will increase its visibility and enhance its position to targeted audiences.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Publicity through LSSU public
relations department for faculty and
Number of press
student accomplishments.
Dean, Chair, Faculty
Time
releases
Ongoing
1 per month
Number of
Participation in university
presentations to
1 per faculty
development day or similar forum.
Dean, Chair, Faculty
Time
faculty members Ongoing
annually
Program
Develop/distribute marketing material
information
2013
All majors
for LSB programs.
Dean, Chair, Faculty
$3,000
brochures
2014
All minors
Acquire display booth for college fairs
and other exhibitions.
Dean, Chair, Faculty
$2,000
Acquisition
2015
Booth acquired
Faculty presentations at select high
Number of
2013/2014 3 presentations
schools, DECA, BPA.
Dean, Chair, Faculty
Time
presentations
2014/2015 6 presentations
17
Ongoing
2013/2014
2014/2015
Increase word of mouth advertising
through satisfied graduates.
Dean, Chair, Faculty
Time for task
Produce LSB newsletter.
Dean, Chair, Faculty
Time for task
Senior survey
Number of
newsletters
produced per
year
Ensure mentions in Laker Log.
Dean, Chair, Faculty
Time for task
Number of
articles
Update LSB Facebook page.
Dean, Chair, Faculty
Time for task
Number of hits
18
2015/2016
Ongoing
2013/2014
2014/2015
Ongoing
2013/2014
2014/2015
Ongoing
2013/2014
50% of alumni
highly
recommend LSB
60% of alumni
highly
recommend LSB
70% of alumni
highly
recommend LSB
2 newsletters
3 newsletters
4 mentions
6 mentions
20% increase in
both hits and
updates
STRATEGIC GOAL 3: Student Experience (retention/co-curricular)
LSB will provide students with a supportive and connected experience to enhance student development.
3. STRATEGIC OBJECTIVE 1. LSB will increase first-year retention rates.
Action Plan
Accountability
Resource
Requirements
Metric
Planning
Horizon &
Deadline
First-year
Track student retention rate by
student retention
program to establish a baseline.
Dean and Chair
Data
rate
2013/2014
Track retention rate of Red & Red 2
status students through Map-Works to
Red and Red 2
establish a baseline.
Faculty
Data
status
2013/2014
3. STRATEGIC OBJECTIVE 2. LSB will increase student participation in co-curricular and extra-curricular activities.
Planning
Resource
Action Plan
Accountability
Metric
Horizon &
Requirements
Deadline
% of sections
Visit 100-level and 200-level classes
Advisors and club
visited per
to present club opportunities.
officers
Access to classes
semester
On-going
Seek academic credit for co-curricular
business clubs.
Advisors and faculty
Time for task
Approval
3. STRATEGIC OBJECTIVE 3. LSB will pursue new facilities and major renovations.
Action Plan
Completion of fund raising for South
Hall.
Renovation of South Hall as home of
LSB.
Accountability
Resource
Requirements
LSSU Foundation,
Dean, President, VP of
Finance, Faculty
Time for task and
travel
VP of Finance
$12,000,000
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Metric
Dollars raised
Construction
project plan
KPI
(Performance
Target)
A baseline
A baseline
KPI
(Performance
Target)
Fall 2014
80% of classes
visited
Offer sections
Spring 2015 for
credit
Planning
Horizon &
Deadline
KPI
(Performance
Target)
Spring
2014
Spring
2015
$900,000
Occupancy
STRATEGIC GOAL 4: Student Learning and Development
LSB will maintain and develop excellent programs for students which provide experiential learning activities that capitalize on this
unique region.
4. STRATEGIC OBJECTIVE 1. LSB will increase graduation rates.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Third-semester
retention rate
Fall 2013
Baseline
Establish baseline retention and
graduation rates of LSB students.
Faculty and staff
Increase the use of the Learning
Center and Map-Works by at-risk LSB
students.
Faculty and staff
Increase LSB student engagement in
campus clubs and activities.
Ensure that all graduating LSB
students have a good, current resume
and job-seeking skills, i.e. dress for
success, mock interview, networking.
Faculty and staff
Career Services
Time for task and
existing resources
6-year
graduation rate
Usage rate of
Learning Center
and MAP-Works
program by
students with
GPA less than
Time for task and
2.3
existing resources
Percentage of
students
involved in
varsity athletics
and extra and coTime and information curricular clubs
Existing
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Student usage of
Career Services
Fall 2013
Baseline
Ongoing –
Fall 2015
50% of at-risk
students
Ongoing –
Fall 2015
50% of students
Ongoing –
75% of students
Fall 2015
4. STRATEGIC OBJECTIVE 2. LSB students will be prepared for meaningful employment.
Action Plan
Accountability
Resource
Requirements
Metric
LSB student
participation rate
in co-curricular
clubs
Planning
Horizon &
Deadline
Ongoing –
KPI
(Performance
Target)
Fall 2015
50% of students
LSB student
Ongoing Increase the use of experiential
participation rate
learning through clubs, internships and
in internship
in-class learning.
Faculty
Time and class work opportunities
Fall 2015
Ensure that all graduating LSB
students have a good, current resume
Ongoing –
and job-seeking skills, i.e. dress for
Student usage of
success, mock interview, networking. Career Services
Career Services
Existing
Fall 2015
4. STRATEGIC OBJECTIVE 3. LSB will increase high-impact educational experiences in degree programs.
Planning
Resource
Action Plan
Accountability
Metric
Horizon &
Requirements
Deadline
Percentage of
Ongoing –
LSB students
who are campus
club members
Fall 2015
Increase the use of experiential
learning.
Faculty
Time and clubs
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Percentage of
LSB students
who serve in an
internship
20% of students
75% of students
KPI
(Performance
Target)
50% of students
Ongoing -
Fall 2015
20% of students
Increase the use of project-based
learning and case studies in business
courses.
Faculty
Time and academic
resources
Ongoing –
Percentage of
400-level
courses that
require a group
project or case
with presentation Fall 2015
STRATEGIC GOAL 5: Regional Communities
LSB will collaboratively contribute to economic growth and sustainable business practices in our region.
5. STRATEGIC OBJECTIVE 1. LSB will continue to foster economic development ties through collaborations.
Planning
Resource
Action Plan
Accountability
Metric
Horizon &
Requirements
Deadline
Number of
Promote student collaborations with
collaborations,
students and entrepreneurs, Product
internships and
Development Center, SmartZone.
Faculty
Time for task
projects
2013-2014
Organize or participate in events to
benefit businesses, charities, external
Number of
communities in the region.
Faculty
Time for task
events
2013-2014
5. STRATEGIC OBJECTIVE 2. LSB will investigate appropriate community and continuing education programs.
Planning
Resource
Action Plan
Accountability
Metric
Horizon &
Requirements
Deadline
Survey community/local business
Survey local
needs for continuing education or
needs
contract training.
Dean
Time for task
PAB Survey
2014-2015
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75%
KPI
(Performance
Target)
3 collaborations
per semester
5 events per
semester
KPI
(Performance
Target)
Completed
surveys
5. STRATEGIC OBJECTIVE 3. LSB will increase accessibility of its programs.
Action Plan
Accountability
Resource
Requirements
Metric
Planning
Horizon &
Deadline
Provide consistent on-line training for
faculty.
Dean
Time/Money
Training course
2013-2014
Dean, Faculty
Time
# of on-line
classes
2014-2015
KPI
(Performance
Target)
50% of faculty
have had training
10% of all
classes offered
on line
Time
Flexibility and
discretion
2014-2015
Approach
implemented
Increase on-line delivery of classes.
Adopt holistic approach to evaluate
viability of course offerings, i.e.
summer, on-line.
Dean, Chair, Faculty
STRATEGIC GOAL 6: Educational Support
LSB will establish and maintain an appropriate level of educational resources to effectively support learning.
6. STRATEGIC OBJECTIVE 1. LSB will engage in effective assessment activities.
Planning
Resource
Action Plan
Accountability
Metric
Horizon &
Requirements
Deadline
Analyze Major Field Test (MFT)
results to evaluate areas for
improvement.
Faculty
Time for task
MFT scores
Annual
Input courses, programs and
assessment outcomes into Tracdat.
Faculty
Time for task
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Tracdat reports
2014/2015
KPI
(Performance
Target)
Above the
national mean
50% of courses
are entered in
Tracdat
6. STRATEGIC OBJECTIVE 2. LSB will acquire and maintain the equipment/software necessary to deliver high-quality, missionfocused programs.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Perform an annual review of software
Current software
No student
needs using industry standards.
Program faculty
Money
in labs
Annual
complaints
Perform an annual review of
All Perkins
equipment needs as required by
Senior survey
money allocated
Perkins funding.
Program faculty
Perkins money
question
Annual
to LSB is spent
6. STRATEGIC OBJECTIVE 3. LSB will have the human capital to support its programs and enrollment.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Increase professional development
Faculty
Faculty
funds for faculty to keep current in
certification
certification
their fields.
Dean
Money
needs
Annual
needs are met
Hire more faculty to decrease overload
and allow faculty more time for other
activities such as assessment,
advising, and meet ACBSP maximum HR needs assessment
ACBSP overload
faculty load requirements.
and Dean
Money
Overload report
Annual
requirements met
6. STRATEGIC OBJECTIVE 4. LSB will provide attentive, regular academic advising.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon & (Performance
Requirements
Deadline
Target)
Percentage of
Faculty contact students to encourage
Time for task and IT students
making advising appointments.
Faculty
support
contacted
Annual
80% of students
Survey students regarding their needs
Administration
and expectations of academic
of advising
Administer
advising.
Faculty, Dean, Staff
Time for task
survey
Fall 2014
survey
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STRATEGIC GOAL 7: Stewardship and Sustainability
LSB will promote efficient and effective utilization of resources to lay the foundation for growth and sustainability.
7. STRATEGIC OBJECTIVE 1. LSB will support systematic planning, developmental and assessment processes to assure ongoing
improvement of its programs.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon &
(Performance
Requirements
Deadline
Target)
Present an annual budget to faculty
Budget
February
Annual
and staff for review and input.
Dean
Time for task
presentation
each year
presentation
Convocation
Annual review and update of strategic
Strategic plan
week each
plan.
Dean
Time for task
review
year
Annual review
7. STRATEGIC OBJECTIVE 2. LSB will cultivate alumni and friend relationships, promote giving, and practice sound stewardship of
endowed funds.
Planning
KPI
Resource
Action Plan
Accountability
Metric
Horizon &
(Performance
Requirements
Deadline
Target)
Craft a plan to bolster connections
with alumni and friends. Conduits to
include: Facebook page, e-newsletter Dean & administrative
and Professional Advisory Board.
assistant
Time for task
Completed plan 2013/2014
Plan completed
Number of
End of
Ensure that endowed scholarships are
available
spring
100% of
awarded to highly-qualified applicants
scholarships
semester
scholarships
in a timely manner.
Chair
Time for task
awarded
annually
awarded
Number of
Email or call alumni.
Dean and faculty
Time for task
alumni contacted Monthly
5 per month
Time for task and
Number of
Visit alumni.
Dean and faculty
money for travel
alumni visited
Monthly
2 per month
Time for task and
Number of
Attend alumni activities.
Dean and faculty
money for travel
events attended
Annually
4 per year
Attend non-academic extra-curricular
Time for task and
Number of
events.
Dean and faculty
money for travel
events attended
Annually
5 per year
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