Strategic Plan

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Strategic Plan

This strategic plan guides our commitment to excellence in business education, fostering a dynamic learning environment and ensuring the success of our students and faculty.

Vision — What Our Future Looks Like

The Lincoln University School of Business will continuously increase enrollment and develop teaching and learning models to accommodate diverse student body. We will have diverse academically high-performing faculty and staff who facilitate student learning, development, and engagement. We will offer the best business programs in our region in both the classroom and online. Our graduates will hold prestigious positions with high income generating and community involvement throughout the global business environment. Our revenues will exceed our costs and we will be financially secure.

Mission — What We Do Continuously to Achieve Our Vision

The Lincoln University School of Business recruits, retains, and graduates a diverse group of students who we develop and prepare to be successful business professionals. We will support continuous faculty development in professional, academic, and learning domains and increase regional, national, and international cooperation.

Strategic Goals — How We Achieve Our Mission

Build mutually beneficial partnerships.
Provide an exceptional learning experience.
Continuously improve programs' marketing
Maintain ACBSP specialized accreditation.

Institutional Outcome Targets — How We Measure Success

Retention Rates (75% retained freshman year to sophomore year)
Graduation Rates (60% graduated within six years)
Enrollments (# enrolled 250 undergraduate and 25 graduate)
Placement (95% placed with preferred employers, started their own business or entered a grad program)

Strategic Goals and Objectives

Strategic Goal 1: Build mutually beneficial partnerships.

	Timeline & Measures	Leads	Resources Required	Action Items For the Academic Year	Trend +good/poor
1. Develop and complete Advisory Board projects and recruit new members to the AB	Board meeting and feedback	Dr. Frank		Schedule and Host Advisory Board Meetings & Events	Good
`2. Develop and strengthen relationships with business leaders to identify and secure funding and other forms of support.`	`Ongoing`	`Dr. Mikhaylov` `Dr. Phillips` `Ms. Carter`		`Compose a Letter Requesting Sponsorship and Contributions from Regional Businesses`	`Good`
`3. Continue with our Small Business Development Center to support small business development and entrepreneurship in our region.`	`Ongoing`	`Ms. Carter`		`Provide Client Support, Activate Incubators, & Expand to Extension Offices`	`Good`
`4. Continue JC Chamber partnerships and collaborations.`	`Ongoing`	`Dr. Mikhaylov` `Ms. Carter`		`Continue Membership, Support Startup Jeff City, & Serve on the Chamber Board of Directors`	`Good`

Strategic Goal 2. Support faculty academic and professional development.

	Timeline & Measures	Leads	Resources Required	Action Items For the Academic Year	Trend +good/poor
1. Identify and share appropriate conferences and grant opportunities for faculty participation	Ongoing	Dr. Mikhaylov cooperation w/ Research Center		Support for conferences participation, publications, and grants writing, etc.	Good

Strategic Goal 3. Provide an exceptional learning experience.

Good

	Timeline & Measures	Leads	Resources Required	Action Items For the Academic Year	Trend +good/poor
1. Employ quality faculty and staff who provide a quality learning environment, quality learning experiences, and quality advising for all School of Business students.	Ongoing	Dr. Mikhaylov Dr. Phillips	Time and financial resources for recruitment and selection	Hire New Accounting Professor, Update Faculty Onboarding Process, and Continue to Evaluate Faculty Performance, Hire new Adjunct instructors	Good
2. Develop a review process for all School of Business programs.	2024-25 academic year	Faculty		Establish Program Review Committee and Develop a Review Schedule	Satisfactory
3. Analyze Peregrine results to improve student learning outcomes.	Ongoing	Dr. Chowdhury		Identify Most Impactful Student Learning Outcome Improvement Opportunities
4. Add new MBA emphases.	2024-25 academic year	Dr. Ajia with faculty cooperation		Develop Marketing Emphasis, Leadership, Project Management and Public Administration	Good
5. Increase Internships and career fair participation.	Ongoing	Ms. Allen		Develop a Career Fair Schedule, Recruit Student Participants,Establish an Internship experience as a Required Business Course	Good
6. Advise and support School of Business student organizations.	Ongoing	Ms. Allen Dr. Frank		Develop Community Project, Participate in Collegiate Business Competitions	Good

Strategic Goal 4: Improve program marketing.

	Timeline & Measures	Leads	Resources Required	Action Items For the Academic Year	Trend +good/poor
1. Develop a promotional strategy for the School of Business.	For the next academic year	Dr. Ajia	Marketing Budget	Work with LU Marketing Department	Good
2. Maintain the School of Business webpage.	Ongoing	Dr. Ajia Dr. Phillips	Graduate assistant	In cooperation with Marketing Dept and Graduate School	The site is updated but resources required for upkeep.

Strategic Goal 5: Maintain ACBSP specialized accreditation.

	Timeline & Measures	Leads	Resources Required	Action Items For the Academic Year	Trend +good/poor
1. Prepare for our reaccreditation self-study and site visit.	July ‘24	Dr. Mikhaylov Ms. Allen	Stipend and consultant fees- allocated	Complete Reaccreditation Self-Study and Host Site Visit	Good

The Lincoln University School of Business Strategic Plan was renewed on March 7, 2024.