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Strategic Management

Autor:   •  November 18, 2017  •  2,053 Words (9 Pages)  •  741 Views

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- Human Resource Division

The HR division’s recruitment and selection practices should be robust and transparent, based on principles of open competition and on valuing a diverse workforce which will continue to attract excellent candidates at a national and international level.They should also use appropriate selection methods with clear criteria for selection. There should be a competitive total rewards package that is equitable and transparent and will enable EWU to attract and retain staff at the international level as well as from national and local markets. The HR division should also ensure proper implementation of the promotion policy so that promotions are not subject to nepotism. There should be early resolution of employee-related matters using appropriate informal and formal mechanisms. These strategies by the HR division will help prevent any dissatisfaction or demoralization among teachers and staffs, and assist them to bring down the turnover rate.

- Finance Division

This division should develop a financial strategy to generate an operating surplus each year which will assist with ensuring the long-term future of the institution and provide funds for future investment. Moreover, the annual budget should provide for a centrally held and managed contingency which will provide a buffer against unexpected events and provide funds to support new initiatives. As part of the university’s internal control arrangements, a comprehensive risk management program should be in place which will aim to manage and mitigate financial risks to the institution.

Operating Strategy

EWU can consider the following operating strategy:

- EWU can also provide student loans that are designed to help students pay for university tuition, books, and living expenses. It will differ from other types of loans in that the interest rate will be substantially lower and the repayment schedule will be deferred while the student is still in university.

- EWU can offer work-study programs which allow students to do jobs within their university campus and earn money towards their education while they are enrolled in the university. At present EWU offers this support to the GTAs. But to help a greater section of the students EWU can create more opportunities by hiring students as librarians, lab assistants, etc. Students can sometimes be provided jobs related to their program of study e.g. a student with accounting background may be offered a part-time job in the accounts department of EWU with roles such as data entry, voucher preparation, etc.

- At present the course registration system for the students is manual. This often results in dissatisfaction among the students and the teachers since the process is time consuming. EWU can make this an automated process where course registration can be done by the students online.

- EWU offers wide array of financial aid to its students which include merit based aid, family concession for siblings, aid to support female students and for students from outside the metropolis. It also offers waiver for students with good academic records. To support a greater section of the society and provide quality education at a reasonable cost, EWU should allocate more funds for offering aids and scholarships to a greater number of students.

Only a few strategies have been suggested above, and the list is not exhaustive. These strategies will assist East West University to improve its overall goodwill and image, and bring it closer to realizing its vision of being a global university that is committed to excellence and has a passion for creating knowledge and educating leaders for a better tomorrow.

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