Outcomes Assessment Plan

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1 International Assembly for Collegiate Business Education Outcomes Assessment Plan Institution: Academic Business Unit: Lynn University College of Business & Management (COBM) Date: March 1, 2012 International Assembly for Collegiate Business Education P.O. Box 3960 Olathe, Kansas USA

2 Table of Contents Table of Contents... i Section I: Strategic Assessment Mission and Broad-Based Goals... 2 Mission Statement... 2 Broad-Based Goals... 2 Section II: Student Learning Assessment... 3 BACHELOR S-LEVEL PROGRAMS... 3 Student Learning Assessment for B.S. in Business Administration 3 MASTER S-LEVEL PROGRAMS... 5 Student Learning Assessment for M.B.A Mapping of Intended Student Learning Outcomes to Broad-Based Student Learning Goals... 7 Mapping of Assessment Measures to Intended Student Learning Outcomes Mapping of Direct Assessment Measures to Key Learning Outcomes for Business Programs: Bachelor s-level Programs Mapping of Direct Assessment Measures to Key Learning Outcomes for Business Programs: Master s- Level Programs Section III: Operational Assessment Mapping of Intended Operational Outcomes to Broad-Based Operational Goals Mapping of Operational Assessment Measures to Intended Operational Outcomes Section IV: Linkage of Outcomes Assessment with Strategic Planning Section V: Appendices Appendix A: ETS Business Subject Exam Appendix B: Undergraduate Capstone Project Appendix C: Undergraduate Capstone Project Assessment Rubrics (AY ; AY ) Appendix D: Undergraduate Senior Salute Survey Appendix E: Undergraduate 6-Month Alumni Survey Appendix F: Graduate Capstone Project Appendix G: Graduate Capstone Project Assessment Rubrics (AY ; AY ) Appendix H: Graduate Senior Salute Survey Appendix I: Graduate 6-Month Alumni Survey Appendix J: Faculty Performance Effectiveness Review (FPER) Outcomes Assessment Plan- COBM, Lynn University i

3 OUTCOMES ASSESSMENT PLAN College of Business & Management Lynn University Section I: Strategic Assessment Mission and Broad-Based Goals Mission Statement Mission of the College of Business & Management: The College of Business & Management s mission is to provide an environment of collaborative learning among students, faculty, staff and the greater community for the purpose of creating personal and professional success for all stakeholders. Broad-Based Goals Broad-Based Student Learning Goals: 1. Demonstrate effective skills in written and oral communication, computation, informational literacy, intellectual strategies and computer technology. 2. Demonstrate foundational knowledge in accounting, management, marketing, economics, and finance in a global context. 3. Demonstrate an understanding in integrating concepts in the core areas of business in Synthesize through application of context of business, including internships, f action-learning projects, research assignments, case studies and other experiential components. Broad-Based Operational Goals: 1. Providing quality instruction. 2. Maintaining continuous improvements in programs and curricula. Outcomes Assessment Plan- COBM, Lynn University 2

4 3. Providing timely career-based skills and knowledge for undergraduate and graduate students so that they will be viewed as desirable prospects for career growth opportunities by their current and/or future employers. 4. Supporting continuing education outreach programs (credit and non-credit) for the business community within the university s service area. 5. Providing students from around the world with a global awareness of domestic and international business. Section II: Student Learning Assessment BACHELOR S-LEVEL PROGRAMS Student Learning Assessment for the Bachelor of Science in (B.S.) Business Administration Intended Student Learning Outcomes for the B.S. in Business Administration: 1. Know the core areas of business: accounting, management, marketing, economics, and finance in a global context. 2. Analyze ethical issues that impact business decisions from economic, political, legal, and social perspectives. 3. Utilize technology skills to maximize managerial decision-making from the perspective of the organization. 4. Apply statistical analysis and other quantitative project management techniques to evaluate data, test assumptions, and apply conclusions to managerial decision-making. 5. Develop a Business Strategic Plan that integrates and applies all the core areas of business: accounting, management, marketing, economics, and finance in a global context. Assessment Tools for Intended Student Learning Outcomes Direct Measures of Student Learning: Performance Targets/Criteria for Direct Measures: 1. ETS Business Subject Exam A random sample of a minimum of thirty (30) graduating seniors in the undergraduate Capstone course, Business Strategy (BUS460) will score at least 70% on the comprehensive examination. 2. Capstone course written project with oral presentation Utilizing a five (5)-point scale rubric with the Intended Student Learning Outcomes, at least 80% of graduating seniors randomly sampled (with a minimum sample size if thirty (30) )from the Capstone course, Business Strategy (BUS460), will achieve an Excellent Competency (i.e. Score of Outcomes Assessment Plan- COBM, Lynn University 3

5 Assessment Tools for Intended Student Learning Outcomes Indirect Measures of Student Learning: 5) or Good Competency (i.e. Score of 4) rating on each learning outcome-related evaluation criterion that is measured in each of the two Capstone course course critical assignments (i.e. written project and oral presentation). Note: For the Self-Study year , a three (3)- point scale was utilized in which students will achieve a Fully Accomplished or Partially Accomplished rating. The Academic Assessment Committee approved the five (5)-point scale rubric for implementation beginning with the academic year. Performance Targets/Criteria for Indirect Measures: 1. Undergraduate Senior Salute Survey On the survey instrument, at least twenty-five percent (25%) of respondents indicated Yes to the question #19: If you have obtained a job, is it related to your Lynn University major?. 2. Undergraduate Six (6)-Month Alumni Survey On the survey instrument, at least fifty percent (50%) of respondents indicated Yes to the question #13: Is your current job related to your Lynn University major?. Outcomes Assessment Plan- COBM, Lynn University 4

6 MASTER S-LEVEL PROGRAMS Student Learning Assessment for the Masters in Business Administration (M.B.A.) Intended Student Learning Outcomes for the MBA: 1. Conduct quantitative and qualitative business analysis of financial statements for financial accounting and performance, as well as operational management, to enhance managerial decision-making. 2. Analyze ethical issues that impact business decisions from economic, political, legal, human-resource, and social perspectives. 3. Utilize technology management skills to maximize managerial decision-making from the perspective of the organization. 4. Formulate marketing management plan for the introduction of new products or expansion of existing product lines. 5. Design and implement a business strategic plan working within a team environment. Assessment Tools for Intended Student Learning Outcomes Direct Measures of Student Learning: Performance Targets/Criteria for Direct Measures: 1. Simulation Project A random sample of a minimum of thirty (30) graduating seniors in the graduate Capstone course, Strategic Management Seminar (MBA690), will score at least 70% on the simulation project. Note: This assessment measure is planned for implementation beginning in the academic year. 2. Capstone course written project with oral presentation Utilizing a five (5)-point scale rubric with the Intended Student Learning Outcomes, at least 80% of graduating seniors randomly sampled (with a minimum sample size if thirty (30) )from the Capstone course, Strategic Management Seminar (MBA690), will achieve an Excellent Competency (i.e. Score of 5) or Good Competency (i.e. Score of 4) rating on each learning outcome-related evaluation criterion that is measured in each of the two Capstone course course critical assignments (i.e. written project and oral presentation). Note: For the Self-Study year , a three (3)-point scale was utilized in which students will achieve a Fully Accomplished or Partially Accomplished rating. The Academic Assessment Committee approved the five (5)-point scale rubric for implementation beginning with the academic Outcomes Assessment Plan- COBM, Lynn University 5

7 Assessment Tools for Intended Student Learning Outcomes Indirect Measures of Student Learning: year. Performance Targets/Criteria for Indirect Measures: 1. Graduate Senior Salute Survey On the survey instrument, at least twenty-five percent (25%) of respondents indicated Yes to the question #19: If you have obtained a job, is it related to your Lynn University major?. 2. Graduate Six(6)-Month Alumni Survey On the survey instrument, at least fifty percent (50%) of respondents indicated Yes to the question #12: Is your current job related to your Lynn University major?. Outcomes Assessment Plan- COBM, Lynn University 6

8 Mapping of Intended Student Learning Outcomes to Broad-Based Student Learning Goals The broad-based student learning goals identified in Section I above encompass the intended student learning outcomes as articulated in this section, and are general composites or summaries of these outcomes. These relationships are summarized in the outcomes-to-goals mapping below (Note: Put an x in a given cell of the table if the intended learning outcome in that row is associated with the learning goal in that column.): Intended Student Learning Outcomes Broad-Based Student Learning Goals BACHELOR S-LEVEL PROGRAMS 1. Demonstrate effective skills in written and oral communication, computation, informational literacy, intellectual strategies and computer technology. Bachelor of Science (B.S.) in Business Administration 1. Know the core areas of business: accounting, management, marketing, economics, and finance in a global context. 2. Analyze ethical issues that impact business decisions from economic, political, legal, and social perspectives. 3. Utilize technology skills to maximize managerial decisionmaking from the perspective of the organization. X X 2. Demonstrate foundational knowledge in accounting, management, marketing, economics, and finance in a global context. X 3. Demonstrate an understanding in integrating concepts in the core areas of business in 2. X 4. Synthesize through application of context of business, including internships, actionlearning projects, research assignments, case studies and other experiential components. X X X Outcomes Assessment Plan- COBM, Lynn University 7

9 Intended Student Learning Outcomes Broad-Based Student Learning Goals 4. Apply statistical analysis and other quantitative project management techniques to evaluate data, test assumptions, and apply conclusions to managerial decision-making. 5. Develop a Business Strategic Plan that integrates and applies all the core areas of business: accounting, management, marketing, economics, and finance in a global context. MASTER S-LEVEL PROGRAMS Masters in Business Administration (M.B.A.) 1. Conduct quantitative and qualitative business analysis of financial statements for financial accounting and performance, as well as operational management, to enhance managerial decision- 1. Demonstrate effective skills in written and oral communication, computation, informational literacy, intellectual strategies and computer technology. X 2. Demonstrate foundational knowledge in accounting, management, marketing, economics, and finance in a global context. 3. Demonstrate an understanding in integrating concepts in the core areas of business in 2. X 4. Synthesize through application of context of business, including internships, actionlearning projects, research assignments, case studies and other experiential components. X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 8

10 Intended Student Learning Outcomes Broad-Based Student Learning Goals 1. Demonstrate effective skills in written and oral communication, computation, informational literacy, intellectual strategies and computer technology. 2. Demonstrate foundational knowledge in accounting, management, marketing, economics, and finance in a global context. 3. Demonstrate an understanding in integrating concepts in the core areas of business in Synthesize through application of context of business, including internships, actionlearning projects, research assignments, case studies and other experiential components. making. 2. Analyze ethical issues that impact business decisions from economic, political, legal, human-resource, and social perspectives. X X 3. Utilize technology management skills to maximize managerial decision-making from the perspective of the organization. 4. Formulate marketing management plan for the introduction of new products or expansion of existing product lines. 5. Design and implement a business strategic plan working within a team environment. X X X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 9

11 Mapping of Assessment Measures to Intended Student Learning Outcomes For each program at each level identified above, the direct and indirect measures of student learning provide for the assessment of all of the program s intended student learning outcomes. These relationships are summarized in the measures-to-outcomes mappings below (Note: Put an x in a given cell of the tables if the assessment instrument in that column measures the intended learning outcome in that row.): BACHELOR S-LEVEL PROGRAMS Intended Student Learning Outcomes Bachelor of Science (B.S.) in Business Administration 1. Know the core areas of business: accounting, management, marketing, economics, and finance in a global context. 2. Analyze ethical issues that impact business decisions from economic, political, legal, and social perspectives. 3. Utilize technology skills to maximize managerial decision-making from the perspective of the organization. 4. Apply statistical analysis and other quantitative project management techniques to evaluate data, test assumptions, and apply conclusions to managerial decision-making. 5. Develop a Business Strategic Plan that integrates and applies all the core areas of business: accounting, ETS Business Subject Exam Capstone course written project with oral presentation Assessment Measures Undergraduate Senior Salute Survey Undergraduate Six (6)- Month Alumni Survey X X X X X X X X X X X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 10

12 management, marketing, economics, and finance in a global context Outcomes Assessment Plan- COBM, Lynn University 11

13 MASTER S-LEVEL PROGRAMS Intended Student Learning Outcomes Master of Business Administration (M.B.A.) 1. Conduct quantitative and qualitative business analysis of financial statements for financial accounting and performance, as well as operational management, to enhance managerial decisionmaking. 2. Analyze ethical issues that impact business decisions from economic, political, legal, human-resource, and social perspectives. 3. Analyze ethical issues that impact business decisions from economic, political, legal, human-resource, and social perspectives. 4. Formulate marketing management plan for the introduction of new products or expansion of existing product lines. 5. Design and implement a business strategic plan working within a team environment. Simulation Project Capstone course written project with oral presentation Assessment Measures Graduate Senior Salute Survey Graduate Six (6)-Month Alumni Survey X X X X X X X X X X X X X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 12

14 Mapping of Direct Assessment Measures to Key Learning Outcomes for Business Programs: Bachelor s-level Programs For each bachelor s-level program identified above, the direct measures of student learning provide for the assessment of the Key Learning Outcomes for Business Programs as identified by the IACBE. These relationships are summarized in the measures-to-key outcomes mapping below (Note: Put an x in a given cell of the table if the assessment instrument in that column measures the key learning outcome in that row.): BACHELOR S-LEVEL PROGRAMS Key Learning Outcomes Direct Measures of Student Learning Bachelor of Science (B.S.) in Business Administration ETS Business Subject Exam Capstone course project with oral presentation 1. Knowledge of the functional areas of accounting, marketing, finance, and management X X 2. Knowledge of the legal, social, and economic environments of business X X 3. Knowledge of the global environment of business X X 4. Knowledge of the ethical obligations and responsibilities of business X X 5. The ability to use decision-support tools X 6. The ability to communicate effectively X 7. The ability to apply knowledge of business concepts and functions in an integrated manner X Outcomes Assessment Plan- COBM, Lynn University 13

15 Mapping of Direct Assessment Measures to Key Learning Outcomes for Business Programs: Master s-level Programs For each master s-level program identified above, the direct measures of student learning provide for the assessment of the Key Learning Outcomes for Business Programs as identified by the IACBE. These relationships are summarized in the measures-to-key outcomes mapping below (Note: Put an x in a given cell of the table if the assessment instrument in that column measures the key learning outcome in that row.): MASTER S-LEVEL PROGRAMS Key Learning Outcomes Direct Measures of Student Learning Master of Business Administration Simulation Project Capstone course written project with oral presentation 1. Skills in problem recognition X X 2. Skills in strategic analysis and integration X X 3. The ability to apply quantitative methods to real-world business situations X X 4. The ability to communicate to relevant publics: a. Effective written communication skills X b. Effective oral communication and business presentation skills X 5. Teamwork skills: The ability to work with a team of colleagues on projects X X 6. In-depth knowledge of the ethical obligations and responsibilities of business X Outcomes Assessment Plan- COBM, Lynn University 14

16 Section III: Operational Assessment Intended Operational Outcomes for the College of Business & Management: 1. The College of Business & Management will be successful in placing its undergraduate students in appropriate entry-level positions or in graduate College on an annual basis. 2. The College of Business & Management will be successful in contributing to the professional advancement of its M.B.A. graduates. 3. Students in the College of Business & Management will graduate in a timely manner. 4. Faculty members in the College of Business & Management will be highly-qualified in their teaching disciplines. 5. Faculty members in the College of Business & Management will be engaged in appropriate scholarly and professional activities on an annual basis. 6. The College of Business & Management will be successful in providing high-quality instruction to its students. 7. The College of Business & Management will be successful in providing effective academic advising to its students. 8. The College of Business & Management will be successful in providing high-quality learning and technological resources to its students. 9. Faculty members in the College of Business & Management will incorporate innovative instructional methodologies in their classes. 10. The academic programs offered by the College of Business & Management will be current, relevant, and meet the needs of business. 11. Undergraduate students in the College of Business & Management will participate in relevant internships on an annual basis. 12. Undergraduate students in the College of Business & Management will participate in relevant community service projects on an annual basis. Assessment Measures for Intended Operational Outcomes: Performance Targets/Criteria for Operational Assessment Measures: 1. Annual Report of the Dean of the College of Business & Management The College of Business & Management will place fifty percent (50%) or more of its undergraduate students in degree-related positions or in graduate College within twelve (12) months of graduation. 2. Graduation Data from the Registrar s Office The College of Business & Management will have a four-year undergraduate student graduation rate of at least eighty percent (80%) and a two-year MBA student graduation rate of at least ninety percent (90%). Outcomes Assessment Plan- COBM, Lynn University 15

17 3. Faculty Credentials Files At least 90% of the College s full-time and adjunct faculty members will be either doctorally- or professionally-qualified to teach in their respective disciplinary areas. 4. Faculty Performance Effectiveness Review (FPER) At least 80% of the College s full time faculty will fulfill all the criteria for faculty evaluation as outlined in the Faculty Performance Effectiveness Review (FPER) document. 5. Undergraduate and Graduate Senior Salute Surveys On the survey instrument, at least twenty-five percent (25%) of respondents indicated Yes to the question #19: If you have obtained a job, is it related to your Lynn University major?. 6. Undergraduate and Graduate Six(6)-Month Alumni Surveys On the survey instrument, at least fifty percent (50%) of respondents indicated Yes to the question #4: Since graduating from Lynn University, have you begun paid employment? Note: Be sure that you identify an operational assessment measure for each intended operational outcome. However, please be aware that it is possible for a single operational assessment tool to be used to measure more than one outcome. Outcomes Assessment Plan- COBM, Lynn University 16

18 Mapping of Intended Operational Outcomes to Broad-Based Operational Goals The broad-based operational goals identified in Section I above encompass the intended operational outcomes as articulated in this section, and are general composites or summaries of these outcomes. These relationships are summarized in the outcomes-to-goals mapping below (Note: Put an x in a given cell of the table if the intended operational outcome in that row is associated with the operational goal in that column.): Intended Operational Outcomes Broad-Based Operational Goals 1. Providing quality instruction. 2. Maintaining continuous improvements in programs and curricula. 3. Providing timely career-based skills and knowledge for undergraduate and graduate students so that they will be viewed as desirable prospects for career growth opportunities by their current and/or future employers. 4. Supporting continuing education outreach programs (credit and non-credit) for the business community within the university s service area. 5. Providing students from around the world with a global awareness of domestic and international business. 1. The College of Business & Management will be successful in placing its undergraduate students in appropriate entry-level positions or in graduate College on an annual basis. 2. The College of Business & Management will be successful in contributing to the professional advancement of its M.B.A. graduates. 3. Students in the College of X X X Outcomes Assessment Plan- COBM, Lynn University 17

19 Business & Management will graduate in a timely manner. 4. Faculty members in the College of Business & Management will be highlyqualified in their teaching disciplines. 5. Faculty members in the College of Business & Management will be engaged in appropriate scholarly and professional activities on an annual basis. 6. The College of Business & Management will be successful in providing highquality instruction to its students. 7. The College of Business & Management will be successful in providing effective academic advising to its students. X X X X X X X X X X 8. The College of Business & Management will be successful in providing highquality learning and technological resources to its students. X X 9. Faculty members in the College of Business & X X X Outcomes Assessment Plan- COBM, Lynn University 18

20 10. Management will incorporate innovative instructional methodologies in their classes. The academic programs offered by the College of Business & Management will be current, relevant, and meet the needs of business. 11. Undergraduate students in the College of Business & Management will participate in relevant internships on an annual basis. 12. Undergraduate students in the College of Business & Management will participate in relevant community service projects on an annual basis. X X X X X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 19

21 Mapping of Operational Assessment Measures to Intended Operational Outcomes The operational assessment measures identified above provide for the assessment of all of the intended operational outcomes. These relationships are summarized in the measures-to-outcomes mapping below (Note: Put an x in a given cell of the table if the assessment instrument in that column measures the intended operational outcome in that row.): Operational Assessment 1. Annual Report of the Dean of the College of Business & Management 2. Graduation Data from Registrar s Office 3. Faculty Credentials Files 4. Faculty Performance Effectiveness Review (FPER) 5. Undergrad. & Grad. Senior Salute Survey 6. Undergrad. & Grad. 6- Month Alumni Survey Measure Intended Operational Outcomes 1. The College of Business & Management will be successful in placing its undergraduate students in appropriate entry-level positions or in graduate X X College on an annual basis. 2. The College of Business & Management X Outcomes Assessment Plan- COBM, Lynn University 20

22 will be successful in contributing to the professional advancement of its MBA graduates. 3. Students in the College of Business & Management will graduate in timely manner. X 4. Faculty members in the College of Business & Management will be highlyqualified in their teaching disciplines. X 5. Faculty members in the College of Business & Management will be engaged in appropriate scholarly and professional activities on an annual basis. X Outcomes Assessment Plan- COBM, Lynn University 21

23 6. The College of Business & Management will be successful in providing highquality instruction to its students. 7. The College of Business & Management will be successful in providing effective academic advising to its students. 8. The College of Business & Management will be successful in providing highquality learning and technological resources to its students. 9. Faculty members in the College of Business & Management will X X X X X X X X Outcomes Assessment Plan- COBM, Lynn University 22

24 incorporate innovative instructional methodologies in their classes. 10. The academic programs offered by the College of Business & Management will be current, relevant, and meet the needs of business. 11. Undergraduate students in the College of Business & Management will participate in relevant internships on an annual basis. 12. Undergraduate students in the College of Business & Management will participate in relevant community service projects on an Outcomes Assessment Plan- COBM, Lynn University 23

25 annual basis. Outcomes Assessment Plan- COBM, Lynn University 24

26 Section IV: Linkage of Outcomes Assessment with Strategic Planning Prior to the beginning of each academic year, Faculty Development & Professional Days are held which include the first College meetings of the academic year in which the previous year s academic assessment and institutional effectiveness data is reviewed. Based on analyses and evaluations of these results in light of both learning and operational performance objectives, the College Curriculum Committee and College representatives to the Academic Assessment Committee determine the areas in which changes and improvements are needed, and discuss alternative strategies for implementing the identified changes and improvements. Curriculum changes follow the Curriculum Development Process outlined in Lynn University Policy Manual Volume V Section 5.7.1; proposed changes to the Academic Assessment Plans are initiated by the College representatives after obtaining the recommendation of the Dean of the College of Business & Management for inclusion in the College s strategic planning process. All strategic planning initiatives by the Dean of the College of Business & Management are grounded, guided, and dictated by the Lynn University Strategic Plan entitled Lynn College-level strategic planning by the Dean incorporates faculty input obtained at monthly College Meetings and strategic plans are submitted to the Vice President for Academic Affairs for recommendations; if recommended, this proposal is submitted to the President for approval. Details on the Annual Assessment Cycle is indicated in Principle 1.2 and The Annual Cycle of Activities with frequency of meetings and the concurrent budget process is detailed in Principle 2.1. Outcomes Assessment Plan- COBM, Lynn University 25

27 Section V: Appendices Appendix A: ETS Business Subject Exam Appendix B: Undergraduate Capstone Project Appendix C: Undergraduate Capstone Project Assessment Rubrics (AY ; AY ) Appendix D: Undergraduate Senior Salute Survey Appendix E: Undergraduate 6-Month Alumni Survey Appendix F: Graduate Capstone Project Appendix G: Graduate Capstone Project Assessment Rubrics (Ay ; AY ) Appendix H: Graduate 6-Month Alumni Survey Appendix I: Graduate 6-Month Alumni Survey Appendix J: Faculty Performance Effectiveness Review (FPER) Outcomes Assessment Plan- COBM, Lynn University 26

28 Appendix A: ETS Business Subject Exam Outcomes Assessment Plan- COBM, Lynn University 27

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55 Appendix B: Undergraduate Capstone Project Outcomes Assessment Plan- COBM, Lynn University 54

56 UNDERGRADUATE CAPSTONE BUSINESS PLAN PROJECT COMPONENTS (CONTENT) 1. EXECUTIVE SUMMARY: a. What is the purpose of this plan? a. an operating guide b. a loan request c. a prospectus for investors b. Who request the funds? c. For what purpose is the funds being requested? What are the expected benefits to your company? d. How will the funds be repaid? e. How much are you investing in the venture? f. What collateral will be used to secure a loan (i.e. inventory, equipment, building, etc.)? g. Summarize financial projections (Yearly Gross Profits, Net Profits, Break-Even, Return On Investment and Cash Flow) Indicate major financial milestones (Note when cash flow turns positive, when break even I achieved, etc.). 2. DESCRIPTION OF THE BUSINESS: a. What is the status of the venture: start-up, expansion of a going concern, purchase of an existing business? b. Describe your product(s)/service(s). c. What is your mission statement? d. Who are the principals and what are their proportions of ownership? e. What is the legal structure of your business? Is it a sole proprietorship, partnership, limited liability company, S corporation, C corporation? Include copies of supporting documents(s) in the appendix. f. If you will be doing contract work, what are the terms? Reference any firm contracts and include copies as supporting documents in the appendix. g. Do you have letters of intent from prospective suppliers? What support will they give your company? Include copies as supporting documents in the appendix. 3. THE MARKET: a. What is the geographical area that you intend to serve? b. How many potential customers are in that area? Document the sources of your estimates. c. What percent of the market do you have now? How much do you think you will have in the future? How quickly will you reach that percentage? Document the sources of your estimates. d. Describe your target customer (age, sex, occupation, lifestyle, income, geography, reading and viewing habits likes, dislikes, etc.). e. Who are your competitors? What are their strengths and weaknesses? f. Identify competitive or substitute products/services. g. Is your business seasonal: Explain. What is the trend in the business and industry? (Are revenues growing, stable, or in decline?) Include copies of supporting documents in the appendix. 4. MARKETING STRATEGY Outcomes Assessment Plan- COBM, Lynn University 55

57 a. What makes your product/service unique? b. What features or services will you offer that will justify your price compared to competitors prices? c. How will you attract and keep your segment of this market? Explain all that apply. o customer quality o product quality o price o location o promotion o persuasion personal selling o satisfaction guarantee/product warranty o distribution o extend credit (if yes, what is your credit policy and payment terms?) o accept credit cards o accept checks 5. BUSINESS LOCATION: a. What is your business address and why did you choose that location? b. Will the building be rented, leased, or owned? c. What are the terms of the contract? Include copies of supporting documents in the appendix. d. What renovations will be needed and at what cost? How will they impact your lease? e. Describe the neighborhood (i.e.: stable, changing, improving, and deteriorating). What are the traffic count, parking, and accessibility for customers/suppliers? f. What other kinds of businesses are in the neighborhood? g. How much can your business expand before you will be forced to move or add on to the present building? h. Will your building pass an ADA (Americans with Disabilities Act) inspection? In not, what modifications must be done, and at what cost? 6. LICENSES/PERMITS/REGISTRATIONS: a. What licenses or permits are you required to obtain? How long does it take to get the needed licenses/permits? b. Do you have a registered trademark for the name of your company to protect it against being used by another company? Include copies of supporting documents in the appendix. c. Is your business affected by zoning regulations? 7. INSURANCE/BONDING/EMPLOYEE BENEFITS: a. Describe the insurance coverage (i.e. liability, property, workers compensation, etc.) you have to protect both the company and yourself. b. Will you/your employees need to be bonded? c. Will your company provide employee benefits for you and/or your employees? Explain, and include copies of supporting documents in the appendix. 8. MANAGEMENT: This is the most important section of your Business Plan. The best source for this section is a resume that explains the business manager s background in detail. Outcomes Assessment Plan- COBM, Lynn University 56

58 a. Who will have day-to-day responsibility to manage the business? b. What is your business background? c. Do you have business management experience? d. D. What formal and informal training have you had that contributes to your managerial abilities? e. E. Are you physically suited to the job? 9. PERSONELL: a. A. Describe your organizational structure and include a brief description of who does what. Include an organizational chart if necessary. b. List proposed salaries and wages. Are they consistent with industry norms? c. What management assistance resources are available to your (e.g.: accountant, lawyer, outside consultant, SBA, SBDC, SCORE)? List by name. d. What skills must your employees have? Will you train the people, or will you hire an outside trainer? Will you hire only already skilled workers? e. Can you use part-time help to meet changing sales volume? f. If you will be using independent contractors, have you discussed this with the Kansas Department of Revenue and/or the IRS to make sure they are not considered employees? 10. FINANCIAL DATA: a. Projected income statement detail by month, first year yearly summaries for second and third years notes of explanation and assumptions b. Cash flow projections detail by month, first year yearly summaries for second and third years notes of explanation and assumptions c. Projected balance sheet notes of explanation and assumptions key financial ratios (quick ratio, inventory turns, etc.) d. Break-even analysis (The level of sales where your gross profit equals your operational costs.) Outcomes Assessment Plan- COBM, Lynn University 57

59 Appendix C: Undergraduate Capstone Project Rubrics (AY ; AY ) Outcomes Assessment Plan- COBM, Lynn University 58

60 Lynn University Rubric for Program Assessment Academic Year B.S. in Business Administration Business Strategy (BUS460) Program Learning Outcomes Fully Accomplished Partially Accomplished Not Accomplished 2. Analyze ethical issues that impact business decisions from economic, political, legal, and social perspectives. 3. Utilize technology skills to maximize managerial decisionmaking from the perspective of the organization. 5. Develop a Business Strategic Plan that integrates and applies all the core areas of business: accounting, management, marketing, economics, and finance in a global context Identifies the corporate strategy Key assumptions At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. Between 70% and 84% of student products achieve a rating of proficient or better. Between 70% and 84% of student products achieve a rating of proficient or better. Between 70% and 84% of student products achieve a rating of proficient or better. Between 70% and 84% of student products achieve a rating of proficient or better. Between 70% and 84% of student products achieve a rating of proficient or better. Fewer than 70% of student products achieve proficiency or better. Fewer than 70% of student products achieve proficiency or better. Fewer than 70% of student products achieve proficiency or better. Fewer than 70% of student products achieve proficiency or better. Fewer than 70% of student products achieve proficiency or better. Evidence of strategy At least 85% of selected Between 70% and 84% Fewer than 70% of Outcomes Assessment Plan- COBM, Lynn University 59

61 Conclusions, implications, and consequences student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. At least 85% of selected student products achieve a rating of proficient or better on the formative assessment (s) for this outcome. of student products achieve a rating of proficient or better. Between 70% and 84% of student products achieve a rating of proficient or better. student products achieve proficiency or better. Fewer than 70% of student products achieve proficiency or better. Outcomes Assessment Plan- COBM, Lynn University 60

62 Senior Capstone Project/Paper Program: Business Administration Program Student Learning Outcomes Rubric AY Course: Business Strategy (BUS460) LEARNING Excellent mastery Good mastery Some mastery Minimal mastery No mastery OUTCOME KNOWLEDGE (30%) Know the core areas of business: accounting, management, marketing, economics, and finance in a global context Demonstrates clear integrated understanding of concepts and theories and their relationship in a global context. Demonstrates sound conceptual and theoretical understanding and integration in a global context. Demonstrates some conceptual and theoretical confusion and the relationship in a global context. Demonstrates lack of understanding of most concepts and theories and their relationship in a global context. Does not demonstrate any knowledge of concepts and theories in a global context. CRITICAL THINKING (35%) Apply statistical analysis and other quantitative project management techniques to evaluate data, test assumptions, and apply conclusions to managerial decisionmaking. Demonstrates thorough utilization of statistical and quantitative analysis to improve managerial decision-making. Demonstrates good utilization of statistical and quantitative analysis to improve managerial decisionmaking. Offers some utilization of statistical and quantitative analysis to improve managerial decision-making. Little or no utilization of statistical and quantitative analysis to improve managerial decision-making. Does not Utilize statistical and quantitative analysis to improve managerial decision-making. Analyze ethical issues that impact business decisions from economic, political, legal, and social perspectives. Demonstrates careful reading from all relevant sources; offers thorough, fair-minded, and informed assessment of the relationship between business and society and ethical issues. Has read widely in several sources; assesses and summarizes the relationship between business and society and ethical issues. Cites at least two different interpretations; makes an effort to articulate the relationship between business and society and ethical issues. Minimal discussion of interpretation in secondary works. No effort to articulate the relationship between business and society and ethical issues. No awareness of the relationship between business and society and ethical issues. CRITICAL SKILLS (35%) Utilize technology skills to maximize managerial decision-making from the perspective of the organization. Demonstrates thorough utilization of technology skills and their application to improve managerial decisionmaking. Demonstrates good utilization of technology skills and their application to improve managerial decision-making. Offers some utilization of technology skills and their application to improve managerial decision-making. Little or no utilization of technology skills and their application to improve managerial decision-making. Does not Utilize technology skills and their application to improve managerial decision-making. Develop a Business Strategic Plan that integrates and applies all the core areas of business: accounting, management, marketing, economics, and finance in a global All information and analysis is conducted integrating the core areas of business and is communicated, written and orally, thoroughly in a comprehensive and Most information and analysis is conducted integrating the core areas of business and is communicated, written and orally, in a thorough Some information and analysis integrates the core areas of business and is communicated, written and orally, in a thorough comprehensive and cohesive manner. Very little information No information and and analysis is grounded analysis is based on in the core areas of the core areas of business or is business and is not communicated, written communicated, and orally, in a thorough written and orally, in comprehensive and a thorough Outcomes Assessment Plan- COBM, Lynn University 61

63 context cohesive manner. comprehensive and cohesive manner. cohesive manner. comprehensive and cohesive manner. Organization of Argument Thesis announced --and argument previewed for the reader -- at the start of the paper in a succinct and comprehensible manner; clear framework for analyzing the thesis; argument unfolds through a logical sequence of points Statement of thesis - -and preview of argument -- are clear, but do not appear in the opening of the paper. Structure of the argument is sound, understandable, and appropriate to the project. Thesis stated, but not at the start of the paper. Argument previewed; but the paper moves in a different direction. Difficult to detect a logical sequence to the points raised in the paper. Difficult to determine the meaning, appropriateness, or significance of the thesis. No clear preview of the argument s direction. Sequence of points raised in the argument remains confused and puzzling. Thesis either severely flawed or simply not offered; organization of argument remains incomprehensible Well-substantiated argument; proper citation of evidence The writer correctly and thoroughly cites sources using Chicago Manual of Style format in footnotes or endnotes; the paper includes a separate bibliography listing all sources consulted for the paper. The writer cites sources using the Chicago Manual of Style format in footnotes or endnotes and provides a separate bibliography; however, the paper displays some gaps in citation, errors in their construction, and inaccuracies in the bibliography. Offers partial evaluation of primary sources; spotty verification Offers little to no evaluation of primary sources; no verification. Is not aware of need to evaluate or verify sources. Mechanics Spelling, punctuation, grammar all correct; proper sentence and paragraph construction Occasional errors in spelling, punctuation, grammar, sentence & paragraph construction; not severe enough to hinder an understanding of the paper s main points. Weaknesses in spelling, punctuation, grammar, sentence & paragraph construction make sections of the paper unintelligible. Problems in spelling, punctuation, grammar, sentence & paragraph construction make sections of the paper unintelligible. Problems in spelling, punctuation, grammar, sentence & paragraph construction so severe as to make the paper unintelligible. TOTAL POINTS A range B range C range D range F range Outcomes Assessment Plan- COBM, Lynn University 62

64 Appendix D: Undergraduate Senior Salute Survey Outcomes Assessment Plan- COBM, Lynn University 63

65 1. Dear graduating student, Congratulations on your upcoming graduation from Lynn University. Your Career Center is committed to gathering accurate information concerning your post-graduation plans. We want to know how you feel your university Career Center prepared you for employment and/or a career. (Please note: We know how difficult it is to find a job in the current economy and we would like to offer to help you with your search. Please feel free to call the Career Center for an appointment. The service is completely free ) The information you provide on this survey will help the Career Center both understand your status and, if need be, better plan for the future. The information you provide us is strictly confidential. 2. What is the most recent degree you earned at Lynn University? 1 Undergraduate 2 Graduate 3. Please provide the following information: Names and contact information 4. Are you an international (F-1) student? 1 Yes 2 No Outcomes Assessment Plan- COBM, Lynn University 64

66 5. What is your major? 1 Behavioral Science 2 English 3 International Relations 4 Liberal Arts 5 Psychology 6 Criminal Justice 7 8 Music Music- Performance Aviation Management Elementary Education Hospitality-all areas Journalism/Mass Communications 13 Communication 14 Graphic/Visual Communication 15 Business 16 Global Leadership 17 Other-Please specify 18 Human Services Other-Please specify 6. Please select your degree level: 1 Undergraduate 2 Graduate Outcomes Assessment Plan- COBM, Lynn University 65

67 7. Do you plan on working full-time or part-time? 1 Full-time 2 Part-time 8. How long did it take to obtain your first full-time job after graduation? 1 2 Obtained job prior to graduation Less than one month months months 5 Over 6 months 6 Other-Please specify Other-Please specify 9. Which of the following pay ranges would be closest to your normal hourly rate of pay in your current position? 1 $0-$8 per hour 2 $9-$12 per hour 3 Click to write Choice 3 Outcomes Assessment Plan- COBM, Lynn University 66

68 10. If you answered "no" to the previous question, would you be interested in participating in the Lynn University mentoring program? 1 yes 2 No 11. When did you accept your current position? 12. Do you currently have mentor in the workplace? 1 Yes 2 No Outcomes Assessment Plan- COBM, Lynn University 67

69 13. Please select your December 2010 degree from the list below: 1 2 BS-Bachelor of Science in Psychology/Biology/Criminal Justice BA-Bachelor of Arts in College of Liberal Education/Communication/Journalism 3 BM-Bachelor of Music -Performance BSBA-Bachelor of Science in Business Administration/Aviation Management BSE-Bachelor of Science in Elementary Education BSHM-Bachelor of Science in Hospitality Management BSD-Bachelor of Science in Graphic and Visual Communication MS-Master of Science in College of Liberal Education/Criminal Justice/Emergency Planning/ Tech. Intel. Ops. 9 MM-Masters of Music Performance MBA-Masters of Business Administration Aviation Management M.Ed.-Masters of Educational Leadership/Exceptional Student Education 12 Ph.D.-Doctorate in Global Leadership 13 Certificate in Emergency Planning and Administration 14 Certificate in Professional Performance 15 Other-Please specify below. Other-Please specify below. 14. Are you currently employed? 1 Yes 2 No Outcomes Assessment Plan- COBM, Lynn University 68

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