The University Strategic Plan

Transcription

1 MAINTENANCE OF ACCREDITATION REPORT Prepared for AACSB International December th Year Report Contact Person Brien N. Smith, Dean Scott College of Business Indiana State University 30 N 7th St Terre Haute, IN (812) brien.smith@indstate.edu

2 Table of Contents Section 1 Situational Analysis... 1 Context... 1 Governance Structure... 2 Relative Strengths... 2 Challenges... 4 Section 2 Progress Update on Concerns from Previous Review... 5 Section 3 Strategic Management... 7 Mission Statement and Strategic Framework... 7 Strategic Management Planning Process and Outcomes... 8 Strategic Planning Process... 8 Continuous Improvement Outcomes Financial Strategies New Degree Programs Intellectual Contributions Section 4 Participants Students Enrollment Student Profile Admission, Probation, and Separation Advising and Student Support Student Engagement Faculty Faculty Deployment Standards Scott College Alignment with Standards Faculty Management Processes Section 5 Assurance of Learning Curricula Development Assessment Tools and Procedures Undergraduate Business Curriculum MBA Curriculum... 41

3 Section 6 Other SCOB Exemplary Practices APPENDIX 1 Strategic Management : Strategic Plan : AACSB Standards Table : Scott College of Strategy Framework APPENDIX 2 Participants : Summary of Faculty Sufficiency Table : Summary of Faculty Qualifications Table : Deployment of Qualified Faculty Table : Determination of Faculty Resources Document : Expectations Document APPENDIX 3 Assurance of Learning

4 Section 1 Situational Analysis Context Founded in 1865 as the state normal school, Indiana State is a research-intensive state-assisted public institution offering degrees through the doctoral level. Indiana State is also classified as an engaged institution by the Carnegie Foundation and has been named to the President s Higher Education Honor Roll for Community Service each year since its creation. The University has also been ranked first in the nation for the past two years by Washington Monthly s College Guide for the community service performed by its students. The university offers more than 80 undergraduate majors within the Colleges of Arts & Sciences, Business, Education, Nursing, Health and Human Services, and Technology. More than 90 graduate programs are offered through the College of Graduate and Professional Studies in conjunction with the academic Colleges. Indiana State has one of the most diverse student populations in Indiana. Enrollment has grown significantly in the last few years surpassing 13,000 in fall The majority of students are from Indiana but the University also attracts students from throughout the U.S. and has more than 1,000 international students. There are nearly 500 full-time faculty members. Guided by the University s strategic plan The Pathway to Success, Indiana State also has experienced an expansion of its commitment to community service, an immersion of experiential learning into all degree programs, the development of eight Unbounded Possibilities centers of excellence, the addition of new degree programs in highdemand fields, and implementation of several measures to increase recruitment and retention of great faculty and staff. The Scott College of Business (SCOB) began as the Commerce Department which was formed in 1918 with a focus on business education. Undergraduate degrees in commerce were added in the 1920 s and programs in business administration in the 1950 s. The School of Business was created in 1964 with both undergraduate and graduate degrees, and was advanced to the College of Business in Today, the Scott College of Business is one of five colleges of Indiana State University and provides one of the three largest undergraduate majors of the University in business administration. The College is home to approximately 1390 students, over 40 faculty members in three departments, and 22 professional and support staff members. An institute along with five centers serves faculty, students, and the business community. The SCOB offers ten undergraduate major programs and a Master of Business Administration (MBA). Indiana State Business programs have earned AACSB International accreditation since The College of Business was renamed in October of 2009 in recognition of a substantial gift from Donald and Susan Scott. 1

5 Governance Structure The Constitution and Bylaws of the Faculty of Indiana State University, guarantees the SCOB a representative form of government with respect to the formulation and administration of internal policy and the right to participate in the selection, evaluation, and removal of its chief administrative officer or officers. Similarly, the Faculty of each academic subdivision of the Scott College of Business is guaranteed the right to participate in the selection, evaluation, and removal of department chairpersons. The Scott College maintains the following standing committees as dictated by its constitution: 1. Curricular and Academic Affairs Committee - formulates and recommends policies governing the undergraduate curricula to facilitate continuous improvement. 2. Departmental Personnel Committee - makes recommendations to the Department Chairperson regarding applicants for tenure, promotion, and leaves, and regarding retention of faculty members. It also makes recommendations regarding professional performance and other additional personnel issues in the department as necessary. 3. Graduate Committee - formulates and recommends policies and processes governing the graduate program and to facilitate continuous improvement. 4. Faculty Affairs Committee - fulfills the advisory functions of the Business Faculty, and evaluates applicants for tenure, promotion, leaves, and retention. 5. Student Affairs Committee - formulates and recommends policies and procedures and plans events related to students in the Scott College of Business. 6. Teaching, Learning, and Research Committee - encourages excellence and continuous improvements in teaching, learning, and research. 7. Student Learning Assessment Committee - encourages and coordinates assessment of learning in all of the programs of the College. The college Deans and Chairs Committee is convened by the dean. Its membership consists of the associate dean, the executive director for graduate programs, and the three department chairs. The committee assists the dean in communication of information to faculty and directing and evaluating the college strategic plan. Relative Strengths The SCOB has developed strategic niches in several areas that give the college competitive advantage in the state of Indiana and in the region. These areas of distinction are: 1. Meis Student Development Center. The Meis Center assists in the coordination of Scott College of Business professional development initiatives. It introduces programs and supports the activities proposed by faculty, by student organizations, classes, or other members of the ISU campus community. The college s Catapult program is administered by the Meis Center. Through its SCOB faculty partners (24 faculty across 51 sections), Catapult presents course-required content in support of student professional development and delivers programming in 2

6 support of college assurance of learning efforts. Just a few examples of Catapult programming include: presentations from business professionals; cultural awareness seminars; conflict resolution; how to conduct an effective meeting; using social media in business; calendaring; ethical decision making; etiquette and networking; effective presentations; and employee benefits. 2. Networks Financial Institute. NFI, founded in 2003 with the help of a grant from the Lilly Endowment, Inc., strives to facilitate broad, collaborative thinking, dialogue and progress in the evolving financial services marketplace through student programs, and thought leadership. Indiana State University s support of NFI through its Unbounded Possibilities program establishes NFI as a pillar of excellence for the University. NFI supports and administers: a. The Networks Scholars Professional Development Program. Networks Scholars are recipients of a competitive and selective regional scholarship that provides intensive professional leadership development programming. The program is home to nearly 60 student scholars that are served by a dedicated educational support team. Along with the Gongaware scholarships, these high caliber students drive the reputation of the college s Financial Services program. b. Thought Leadership and the Washington Insurance Reform Summit. NFI has become a national thought leader working to answer challenges surrounding the financial services industry. NFI s network of prominent research fellows, along with NFI s own staff researchers, develop policy briefs, working papers and related research publications that inform industry leaders and decision-makers on some of today s most pressing financial services issues. The annual Insurance Reform Summit in Washington, D.C. helps focus national policy-maker s attention on pressing insurance issues for the coming year. 3. Sycamore Student Ventures. Sycamore Student Ventures is a capstone learning lab created to implement experiential and entrepreneurial learning environments for senior level students. The organization oversees three companies: a. Executive Express Café is a student-run café learning lab located in the garden level of the SCOB. New student teams reconstruct management and operations processes at the beginning of each semester, effectively building a functional, state-licensed café from the ground up; b. Sycamore Business Advisors is a student-driven strategic planning and consulting service where students gain hands-on experience by providing strategic process consulting to local businesses; and c. Sycamore Blitz Promotions is a student-run marketing service that works with local businesses to create a three week long promotional blitz using social media, print and online advertising. 4. Center for Sales and Negotiations. Since its founding in early 2010, the Sales and Negotiations Center has carved a niche in sales education and enabled the Scott College of Business to achieve national recognition as an emerging leader within this important 3

7 profession. The Center and associated sales program have been honored as a "top sales university" by the Sales Education Foundation, and have achieved full member status in the University Sales Center Alliance (USCA). 5. Federal Hall. In the fall of 2012 the SCOB completed its move into an award-winning historic facility with significantly improved learning resources and faculty/staff offices and meeting spaces. The facility is the first LEED certified building on campus. Indiana State s investment into this facility: a. demonstrates that the SCOB is an important priority; b. demonstrates that benefactors believe that the SCOB is competitive and moving forward; c. builds closer community ties and opportunities for engagement; d. emphasizes the importance of historic preservation, sustainability, and social responsibility to students and the community; and e. improves the student experience. Challenges Indiana State University Foundation. The Indiana State University s endowment managed by its foundation was valued at $55,927,000 as of June 30, As compared to other institutions in its competitive group, this amount is low. The Foundation houses both development and alumni relations for ISU. Recent leadership changes within the Foundation have resulted in needed changes in policy to move the Foundation in the right direction. However, these investment policy changes have also classified many of the SCOB endowed investments as being underwater as compared to their original gift value. Expenditures from underwater funds are frozen but prudent Foundation investment strategies have recently restored many funds to their original value. With future and planned gift commitments exceeding $26,000,000, the Foundation s future is more promising. State Funding. As with the vast majority of states, Indiana s funding for higher education still lags below 2008 higher education expenditures. Consistent cuts in ISU s biennial budget have resulted in reductions in staff and the elimination of university programs. Indiana State has made a commitment to keep tuition rates low, but other strategies need to be employed to recoup losses in state funding. Indiana State s strategy has been to increase applications and yield rates to push enrollments, and revenues, up. In addition, the University has sought efficiencies by marginally reducing full time equivalent faculty each academic year to increase faculty to student ratios. Student Demographics. Indiana State serves a significant number of students who are the first in their family to seek a college degree. These students lack mentorship from family members or others in their reference group on how to succeed in a college environment. In addition, Indiana State serves a larger proportion of students with lower academic achievement. Without aggressive monitoring and intrusive academic advising, these students are more likely to drop out of college or be academically dismissed. In addition, over half of Indiana State freshmen are Pell grant eligible (a proxy for income level) which places ISU at risk for not retaining these students across four years. In fact, the biggest retention challenge to the SCOB is that many of its students are forced to stop out or drop out of school altogether due to financial challenges. 4

8 Section 2 Progress Update on Concerns from Previous Review Two areas were identified in the last maintenance affirmation letter, dated April 18, 2011, for the Scott College of Business to address in its ongoing strategic planning initiatives. These areas were: 1. The School should continue to fully implement and monitor progress towards meeting the strategic plan in place for 2010 to The Committee recommends adjusting its strategic direction with respect to changing conditions and movement towards strategic objectives. In the next reporting period, please report on the progression of the strategic planning process (Strategic Management Standards: 1 to 5). 2. Please continue to encourage the School s faculty to work toward continuous improvement and achievement of objectives for maintaining AQ and PQ status. The Committee recommends that the School consider reviewing annually faculty qualification data to ensure congruence with the School s definitions. The School should also consider developing a plan that will enhance the research portfolio of the faculty (Standard 2: Intellectual Contributions and Standard 10: Faculty Qualifications). Strategic Plan Following the 2010 Maintenance of Accreditation visit and suggestions from the Peer Review Team, the College articulated a new Strategic Plan Elements of the plan were developed with input from internal and external constituents. Strategic objectives were reviewed for consonance with the University Strategic Plan and adopted in fall These objectives shape the allocation of resources and priorities for actions and direct the College in the areas of experiential learning; engagement of faculty, students, and community members; development of distinctive programs; and provision of distinctive facilities. In addition, the college was reorganized from two departments into its current three-department configuration to more tightly align organization and resources with strategic competencies. The department changes were made to facilitate interdisciplinary programming and research, to more directly focus on distinction in financial services, and to build at least one other area of distinction, per our strategic objectives. Each of the three departments now has fewer faculty, disciplines, students, and programs than the previous structure. Further, the disciplines within a department were selected to promote greater collaboration among faculty and with existing or potential new centers and institutes. These synergies help produce innovative programming that is positioned for growth, visibility and distinction. Such programming could also enhance support from university and external audiences, particularly if the programming is designed to respond to market needs and strengthen ties to the community. At the same time, the threedepartment model has resulted in greater effectiveness and efficiency of administration and operations. Indiana State University is a strategic plan driven institution with goal report-outs several times a semester. The tight congruence between the college and university plans requires the SCOB to regularly measure its progress toward goals, and to report out to stakeholder groups. 5

9 A recent college plan refresh and visioning in the fall of 2013 fostered broader constituent group buy-in into the planning process through multiple college-wide convocations across several semesters. This process yielded the Community Experiencing Success tagline, and this refresh will serve as the foundation for the next formal plan in Faculty Qualification Following the Peer Review Team visit and recommendations, documentation for attaining and maintaining AQ and PQ status was revised. These revisions better reflect the determination of qualifications and provide further guidance to the faculty, the department chairs and dean in hiring and deploying the faculty. Documentation for faculty qualifications is contained in multiple documents within the college governance structure. Synchronizing faculty expectations across college processes ensures the qualification process can be sustainable. First, the Determination of Faculty Resources document defines intellectual contributions needed for academic qualifications, as well as professional experience and continuing development needed for professional qualifications. The goal of this documentation is to assist department chairs and the dean in the hiring and deployment of faculty. Second, the Faculty Expectations document seeks to promote equity of effort among faculty by defining minimums for achieving standard performance in teaching, intellectual contributions and service. A stated goal of these expectations is to facilitate the maintenance of AACSB accreditation by setting appropriate faculty expectations for performance. Faculty qualification status for the college is reviewed yearly by the college s Deans and Chairs Committee. Strategies for addressing qualification concerns are discussed and chairpersons work with the faculty directly to notify them of a pending change in their status and develop performance plans as needed. Since the last review, Indiana State has instated a biennial posttenure review process. Although post-tenure review is a university-level assessment, the evaluations and criteria are defined at the college and/or department level. For the SCOB, these criteria are consistent with documented faculty expectations. Performance plans are developed for individuals who perform below minimum standards for teaching, research, or service. Continued poor performance across the biennium may result in lack of pay raises and/or termination of employment. To enhance the portfolio of faculty research, the SCOB has initiated a professional development fund in support of academic qualifications. Faculty who publish in peer reviewed outlets get a portion of the fund moved to their personal professional development account. Faculty may spend these funds as they wish in support of their personal professional development. For professionally qualified faculty, the SCOB reimburses faculty for continuing education expenses and other activities in support of their qualification. Finally, the Teaching, Learning, and Research Committee is charged to encourage excellence and continuous improvements in teaching, learning, and research across the college. This standing committee plans and delivers a number of activities each semester that are widely attended by faculty. 6

10 Section 3 Strategic Management Mission Statement and Strategic Framework The foundation of SCOB s strategic management is its strategic framework that includes three main parts: mission, vision, and shared commitment. The strategic framework guarantees that the SCOB set its priorities on activities that promote experiential learning, applied and pedagogical research, and relationships with the community. Mission The Indiana State University Scott College of Business is dedicated to providing an internationally-accredited professional education to qualified students at both the undergraduate and master s levels. Our primary focus is to provide an experiential learning environment that prepares students to take leadership roles in both public and private organizations. In tandem with this commitment, the College supports, encourages, and produces applied and educational research, development of relationships with the business community, and service to the region and the professions. Vision The Scott College of Business will enhance its state and national reputation by: Providing innovative experiential learning to students within and beyond the classroom; Creating and disseminating scholarship commensurate with the highest accreditation; Engaging faculty, staff, and students with their communities; and Advancing the college s distinction in the field of financial services and other areas of business. Shared Commitment Our primary focus and commitment is to excellence in learning by students, faculty, staff, and the extended community. We achieve our mission and vision by engaging our faculty, staff, and students in an environment that: Stages rich interactions among participants and with community members; Provides learning activities within and beyond the classroom; Advances the role of research in learning and scholarship and supports communication of results to the extended community; Integrates global and ethical perspectives, current practices and technologies into learning; 7

11 Utilizes experiential learning to advance the knowledge and practice of effective and responsible decision making; Prepares learners to contribute to their professions; and Supports the continual professional development of all of its participants. Strategic Management Planning Process and Outcomes Indiana State University is a data-driven institution guided by its most recent strategic plan, The Pathway to Success. The plan is the result of more than ten months of collaboration among several hundred faculty, staff, students, alumni, and community leaders. Goals of the plan direct the effort of the university community, including the academic colleges. As such, the SCOB plan must work in consonance with the overall university goals. The University s strategic goals are as follows: 1. Increase enrollment and student success; 2. Advance experiential learning; 3. Enhance community engagement; 4. Strengthen & leverage programs of distinction and promise; 5. Diversify revenue - philanthropy, contracts and grants; and 6. Recruit & retain great faculty and staff. Following the 2010 Maintenance of Accreditation visit and suggestions from the Peer Review Team, the Scott College of Business articulated a new Strategic Plan Elements of the plan had been developed over the previous three years with input from internal and external constituents. In April 2010, the faculty of the College met in a day-long retreat to begin articulation of a new vision and strategic goals. Discussion and input from faculty and staff, advisory councils and University leadership continued from April through November. Beginning with the College Mission, the Strategic Plan includes a Vision and keys to achieving the Mission and Vision. From a base of shared values, the faculty expresses Shared Commitment to excellence in learning by students, faculty, staff, and the extended community. Further, the commitment articulates the environment for achievement of the Mission and Vision and a statement of Promise to Students (see Appendix 1.1). Strategic goals were reviewed for agreement with the University Strategic Plan and adopted in fall These goals shape the allocation of resources and priorities for actions and direct the College in the areas of experiential learning; engagement of faculty, students, and community members; development of distinctive programs; and provision of distinctive facilities. Strategic Planning Process Figure 3.1 below depicts the SCOB strategic planning process. The five year process is represented as being linear for simplicity. In practice, assessment, review, and adjustments are conducted continuously while revision to the mission and vision occur less frequently. 8

12 Figure 3.1: Strategic Planning Process Assess College & University Environments Revise Mision, Vision, & Objectives Review Achievement of Strategic Objectives Stakeholder Discussion & Recommendation Report Out to Statekeholders Adjust Plan & Define Priority Actions Gather Internal and External Stakeholder Input The main participants in the strategic planning process are the college 1) Deans and Chairs Committee, 2) faculty, via college-wide meetings, membership on standing committees, and ad hoc task forces, and 3) the community (advisory councils, college alumni, and donors). The Scott College of Business Deans and Chairs Committee is responsible for organizing the strategic planning process. Its membership consists of the associate dean, the executive director for graduate programs, and the three department chairs. The committee regularly reviews data from college and university processes and determines progress toward goals. The Indiana State University Foundation also provides regular reports to the dean s office. All information is then shared with stakeholders for informational purposes, but, more importantly, for working collaboratively to make adjustments in tactics when progress toward goals is not sufficient. For example, last year the SCOB made good progress toward its enrollment benchmarks but poor progress toward student retention was identified. Time was devoted during a college-wide meeting to discuss retention and each department convened a student success task force to write departmental success plans. Reports are also shared with ISU administration and the Dean s Executive Counsel to gather input. This process of data gathering is important because it gives life to the plan. It is not unusual to add new action items or change the priority of existing items with respect to changing conditions and/or movement towards existing strategic goals. The dean is responsible for organizing college-wide meetings and retreats. These gatherings are held at least four times during the academic year. The AACSB big three, strategy, faculty qualifications, and assurance of learning is a discussion of every meeting. Even during the beginning of semester faculty meetings, as required under SCOB governance structure, break-out time is devoted to reviewing data or discussing issues. Regardless of agenda, assurance of learning feedback and discussion is always included. 9

13 In addition to committee duties defined by the SCOB constitution, the dean may charge the various standing committees of the college to investigate and make recommendations on issues of strategic importance to the college. These committees were defined in the situational analysis section above. Recently, for example, the Faculty Affairs Committee instituted changes in the Expectations Document to make Assurance of Learning a stated expectation of every faculty member in the college. This change added assessment to the faculty performance evaluation process. Beginning January of 2013, the Scott College of Business embarked on a strategic plan refresh in preparation for a formal plan rollout in The dean established an ad hoc task force with representation from college stakeholders, including staff and students. Several college-wide meetings were convened. In addition to considering changes in environmental conditions, a strategic management facilitator engaged participants in a story telling exercise where each person relayed what the college looked like ten to fifteen years out. The stories were content analyzed and task force members established a new plan platform. The plan, entitled Our Community Experiencing Success, draws from the Creole concept of Lagniappe or a little something extra. Lagniappe embodies the University and college history of nurturing servant leadership. The framework can be found in Appendix 1.3. Continuous Improvement Outcomes Progress toward college and university strategic plans goals was made during the review period. Progress outcomes are summarized below. Goal 1: To recruit and enable the success of more high quality students by providing them with knowledge, professional development, and other experiences that will give them a competitive advantage in the global workplace. (SCOB mission: provide internationally-accredited professional education to qualified students at both the undergraduate and master s levels and provide an experiential learning environment ; University: Goal 1 & 2) Objective Increase SCOB Enrollments and total student credit hours in Undergraduate and Graduate Programs. Increase SCOB measures of student success including four-year graduation rates and number of college graduates. Maintain and Increase Student Scholarships. Increase the number of students receiving professional development programming. Increase student travel and international activities, including study trips for students and faculty exchanges Outcome Undergraduate and Graduate enrollments and student credit hours have trended up since 2012 and are at their highest point since the 1970s. Metrics related to student enrollment have risen steadily across the review period. Other student persistence measures remain stagnant. Each department has developed a student success plan in effort to improve student retention and success. Scholarship support is up $107,310 to $631,300 as compared to $534,300 from the previous 5 year review. A $100,000 naming gift started the Meis Center for Student Professional Development. Student development programing has increased over four fold over the review period. See Appendix 3.6. Student travel and experiences have remained stable over the review period despite budget reductions and poor foundation performance. 10

14 Encourage student-run businesses and other innovative experiential learning activities. Reach more students by offering business programs online. Student run business have been combined under the new Sycamore Student Ventures. Experiential programs continue to flourish. The SCOB now offers online programs in Accounting, Business Administration, Insurance & Risk Management, and Marketing. Minors are offered in Accounting, Finance, and Marketing. Goal 2: To target resources and efforts toward distinctive and innovative programs, learning opportunities, and research. (SCOB mission: provide an experiential learning environment ; University: Goal 2) Objective Reorganize departments to smaller units with potential for focus on building distinction. New faculty members in Financial Services and other areas with high potential for distinction Encourage innovation in student programs, particularly with experiential learning inside and beyond the classroom. Move Networks Financial Institute from Indianapolis to ISU campus. Support Networks Financial Institute and Program of National Distinction in Financial Services. Develop Sales and Negotiations Center to shore up college distinctiveness in Sales. Develop Supply Chain Management program to increase enrollments in Operations Management Outcome Completed in Moved from two departments to the current AFIRM, MISBE, and MO). Facilitated interdisciplinary programming and research, led to focus on distinction in financial services. Two faculty lines have been approved. Recruitment is currently underway. Started the MO Show poster session series to showcase student research in their marketing and operations classes. Dedicated the new Meis Center. The move was completed in NFI has been included in the University s Unbounded Possibilities program and is therefore eligible for funding through as a university strategic initiative funded through the President s office. The Center was founded in 2010 and is one of only 21 programs nationally to achieve partnership in the University Sales Center Alliance. Completed revision of Operations Management curriculum. Operations has the highest enrollment increase in the college. Started the Center for Supply Management Research. Goal 3: To provide a physical environment with associated technology, centers, and resources that advance opportunities for engagement among the faculty, staff, and students and with the business community. (SCOB mission: provide an experiential learning environment and development of relationships with the business community ; University: Goals 2 & 6) Objective Renovation of the Federal Building as the new home for the College Outcome Completed move to Federal Hall in September of The award-winning historic facility with significantly improved learning resources and faculty/staff offices and meeting spaces. The facility is the first LEED certified building on campus. Classrooms are the most technically advanced on campus. 11

15 Goal 4: To advance the scholarship of faculty by providing resources and support to increase the number and quality of publications. (SCOB mission: supports, encourages, and produces applied and educational research ; University: Goals 4 & 5) Faculty research grants Objective Peer-reviewed journal article fund for faculty Outcome Provided $42,569 for funding faculty research during review period. Developed faculty Professional Development Funds for each faculty member. Faculty submit peer reviewed journal articles accepted or published during the year to the dean s office to receive a portion of fund dollars available for that year. Money may be spent for their own professional development as they see fit. Goal 5: To increase programming for our community and professional audiences in the region, state, and nation. (SCOB mission: development of relationships with the business community, and service to the region and the professions ; University: Goals 3 & 4) Objective Maintain high visibility of Networks Financial Institute events and speakers and Insurance and Risk Management sponsored programs Enhance college visibility through local event sponsorships Encourage community participation in speaker events and other programs of the College and University Outcome Sponsored the 10 th annual Insurance Reform Summit in Washington D.C., targeting Insurance CEOs and Capitol Hill policy makers. Sponsored three Indianapolis Insurance conferences, most recently featuring Jonathan Gruber. Sponsored the Groundhog Day Economic Forecast for the local community each of the last 5 years. Sponsored the Junior Achievement Business Person of the Year for the last two years. Sponsored five annual business student s Ethics Conference Sponsor numerous speakers through the new Meis Student Development Center. Sponsored the annual Leader in Action series in the college. Sponsored the annual Risk Manager in Residence series. Goal 6: To enhance involvement of alumni and business communities in our programs. (SCOB mission: provide an experiential learning environment and development of relationships with the business community ; University: Goals 2 & 3) Objective Increase involvement of alumni and community in professional development programs and in the sales program. Increase the number of advisory councils in the college. Outcome The new Meis Center increased alumni and business involvement through more business leader presentations, and the networking etiquette dinner where student learn to network in business settings. The college added three advisory councils during the review period bringing the total to eight: Accounting, Dean s Executive Council, Financial Planning, Insurance, Operations, Sales, Small Business Development, and Young Professionals 12

16 Goal 7: To increase external support for the college in the form of revenue-generating programs, funds raised, and grants. (SCOB mission: Provides financial resources for mission attainment; See Financial Strategies below; University: Goal 5) Objective Increase involvement of student and faculty in annual campaigns Comprehensive campaigns with the ISU Foundation Offer a new Professional MBA in the Indianapolis metropolitan area to serve as a source of continuing review for the college. Outcome Student teams are now involved in Foundation call campaigns. A Department Innovation fund has been established but true faculty involvement was not achieved. The concept of faculty involvement in department fundraising will be refreshed during our 50 th anniversary celebration in April of A $1.5 million campaign was introduced in early The endowment will be used to support further student professional development upon the expiration of Lilly funds in The campaign is $220,000 toward goal. The program was established. Since 2012, enrollments have grown 400% to approximately 40. The program brought in $180,774 in revenue last year. Financial Strategies To pursue the Scott College of Business mission it is important to have sufficient financial support to sustain quality educational programs. Indiana State University supports the college with superb classroom facilities, computing technology, resources for a student advising center, and outstanding library services support. It is incumbent on the SCOB to prioritize it goals, relative to its mission, and seek additional resources to achieve them. Table 3.1 lists college priorities pursued during the review period and beyond, and the resources needed for continuous improvement in those areas. To continue to recruit qualified students at both the undergraduate and master s levels it is important that the SCOB expend additional resources beyond those provided by the University Marketing and Communications. Further, the SCOB can do more to retain those students, thus helping the University meet its obligation to the state, and yield more student credit hours to the college (SCOB Goal 1). To help provide experiential learning environment that prepares students to take leadership roles in both public and private organizations it is essential that the SCOB continue to find ways to fund the Networks Financial Institute and the Meis Student Professional Center. Both the Institute and Center help transform our students by offering innovated student leadership and development programs (SCOB Goals 1 & 2) For the SCOB to support, encourage, and produces applied and educational research (SCOB Goal 4), it is important that the college s Networks Financial Institution continues to support thought leadership and grants to our faculty. It is also necessary that we maintain databases and learning resources for our faculty. Finally, the college is seeking ways to expand its Faculty Development Funds which reward faculty scholarship. 13

17 Finally to support the development of relationships with the business community, and service to the region and the professions the SCOB needs to continue to fund and support programs that provide services to the community and bring business leaders, alums, and donors in closer contact with our students (SCOB Goals 5 & 6). Table 3.1: Financial Resources Action Item Goal Timing Funding Funding Source Networks Financial Institute (Center, Staff, Student Scholarships) Student Recruitment and Retention Meis Student Professional Development Center 2, $1,130,000 annually Lilly Endowment (Terminal grants ends 2018). ISU Unbounded Possibilities support beyond Ongoing $150,000 annually Distance Learning subvention funds; Administrative allocations; MBA revenues to college Ongoing $50,000 annually Private donors; Revenue programs. Professional MBA 1, Ongoing $400,000 annually Administrative Budget; MBA revenues. Scholarships Ongoing $650,000 annually Networks Financial Institute; Administrative Budget; Scholarship endowments; Annual gifts Faculty Professional Development Funds $65,000 annually Networks Financial Institute; MBA revenues; Donor gifts. Programming for our community and professional audiences in the region, state, and nation Software and Data (Trading lab, Finance and Accounting Data, SAP, Rise Displays) Review and revision of undergraduate curriculum Sales and Negotiations Center 1,5, $200,000 annually Networks Financial Institute; Revenue Programs; Donor Gifts $50,000 annually Administrative Budget; Networks Financial Institute $5,000 annually MBA revenues Ongoing $30,000 annually Sales Center advisory council Student Travel Ongoing $40,000 annually Donor Gifts; Networks Financial Institute; MBA program funds; Revenue programs 14

18 New Degree Programs No new AACSB degrees programs have been developed since the last maintenance of accreditation visit. During the review period, there were a number of curricular revisions (see Appendix 3.10 for a complete listing). These may be summarized as follows: 1. Refinement of College of Business Admission Requirements (COBA); 2. Credit hour changes for the degree (state mandated) and individual majors (university initiative); 3. New modes of delivery to meet market demands (new distance delivery programs); and 4. Revision or development of curricula in response to anticipated market demand (Sales, Operations; Financial Planning Concentration). Looking ahead, the MISBE department is in the process of developing its own strategic plan and is considering a number new curricular and degree offerings. These include human resource management, entrepreneurship, and health analytics. Intellectual Contributions The five year SCOB portfolio of intellectual contributions is summarized in Table 3-1 below. The data indicate that a sizable percentage of Scott College of Business faculty engaged in the production of intellectual contributions over the review period. Appendix 1.3 contains AACSB Table 2-1 with a complete listing of faculty intellectual contributions. A close inspection of that data indicates that substantial cross section of the faculty in each discipline is producing intellectual contributions. With respect to the IC types, 71% of all contributions were made in research that contributes to practice, and another 28% of IC types were in pedagogical outlets. This balance of pedagogical and discipline-based research is consistent with the college s mission of applied and educational research. Table 3.1: Summary of the SCOB Portfolio of Intellectual Contributions Portfolio of Intellectual Contributions Types of ICs PRJ Monographs Books Chapters Proceedings Number of ICs Percentage 50% 0% 0% 2% 12% 15% 0% 1% 20% 28% 71% 1% Faculty Participating Percent of Faculty Participating 66% 0% 1% 9% 23% 21% 1% 3% 36% 39% 64% 3% Presentations Seminars Non-PRJ Others Pedagogical Practice Discipline 15

19 Section 4 Participants Students Indiana State University students are enrolled in doctoral, master, bachelor, and associate degree programs across the College of Graduate and Professional Studies and five disciplinary colleges: Arts and Sciences; Business; Education; Nursing, Health, and Human Services; and Technology. The Scott College of Business offers the Bachelor of Science (BS) degree for 10 undergraduate majors and the Master of Business Administration (MBA) degree at the graduate level. Undergraduate students may choose to major in more than one area and to complete one or more of the College s minor and certificate programs. In addition, undergraduates from other colleges at ISU can complete one or more of the business minor and certificate programs and courses specifically for non-business students. Enrollment Overall Enrollment. Indiana State University has placed strategic importance on increasing enrollments and improving student retention to offset cuts in funding from the state. The University is less than 900 students away from its stated goal of 14,000 by Figure 4.1 depicts State s consistent growth in graduate and undergraduate programs since Figure 4.1: Indiana State University Enrollment Headcount Graduate Undergraduate Total

20 Business Enrollments. As with the university, the Scott College of Business has increased its enrollments steadily since the last AACSB review. At ISU, faculty funding models are tied to the college s student credit hour production, so continued increases in enrollment are important if the SCOB is to retain qualified faculty. In 2013 the SCOB increased its commitment to grow enrollment. Call campaigns, high school connection programs, and targeted advertising have had a positive effect on enrollment numbers. In 2014, the business college headcount grew by 6.4% and student credit hour production grew by 16% over 2013 numbers. Figure 4.2 depicts SCOB enrollment growth over the review period. Figure 4.2: Scott College of Business Fall Enrollment Headcount Graduate Undergraduate Total New freshmen enrollment over the review period has been inconsistent. Improvement in college recruitment methods has yielded a 24% increase in freshmen in the fall of Figure 4.3 depicts freshman enrollment trends across the review period. Figure 4.3: Freshmen Enrollment Trends Headcount Freshmen % of ISU Freshmen 9.4% 12.1% 10.4% 10.1% 12.2% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 17

21 Student Profile A profile of ISU students in fall 2014, reveals a strong majority are full-time (over 79 percent) and residents of the state of Indiana (75 percent). State has a high percentage of students who are recipients of the federal Pell Grant for low income students, and a majority of ISU students are first-generation college goers. Indiana State has a long history of providing opportunity and access to education and has the most diverse student population among Indiana s public residential campuses. Scott College of Business incoming first-year business students are somewhat better prepared than the University average based on high school GPA and standardized test scores. The high school grade-point average (GPA) for business freshmen in 2014 was approximately 3.11, compared to 3.07 for ISU freshmen. The combined SAT (verbal + math) scores for business freshmen in 2014 were 942; for all ISU freshmen, the combined SAT score was 919. See Table 4.1 for a review of freshmen statistics across the review period. Table 4.1: Comprehensive SCOB Freshmen Statistics Male 64% 59% 59% 56% 64% Female 36% 41% 41% 44% 36% SAT Verbal (mean) SAT Math (mean) Overall ISU SAT-V Overall ISU SAT-M Math Placement Pass Rate 31% 38% 30% 37% 46% HS GPA (4 pt) Retention (starting in business) 60% 65% 63% 67% N/A Retention (switched to business) 67% 68% 66% 73% N/A Diversity. The College of Business has a lower percentage of female students (40%) as compared to Indiana State as a whole where women are in the majority (55%). However, the SCOB student diversity has steadily increased over the review period. Demographic characteristics for undergraduates are shown in Figure 4.4 below. Indiana State University attracts a significant number of African American students, especially from Indianapolis and the Chicago/Gary region. This percentage is 16.1% in the Scott College of Business, higher than both Vigo County (7.1%) and the State of Indiana (9.5%). The Scott College of Business has smaller percentages of other minorities, as do to the University, faculty, county, and state. 18

22 Figure 4.4: SCOB Enrollment by Demographic Characteristics 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Female 44.7% 44.3% 43.4% 41.0% 40.2% White 82.5% 73.7% 72.1% 79.0% 74.2% Black 11.6% 13.6% 15.3% 15.4% 16.1% Hispanic 1.2% 1.1% 2.1% 2.6% 3.6% Am. Indian 0.2% 0.3% 0.6% 0.5% 0.4% Other 3.5% 9.9% 1.2% 0.7% 2.9% Diversity in Enrollment. Table 4.2 on the next page shows Scott College of Business student fall semester enrollments by major from 2010 to No new majors were introduced during the review period. As it has for many years, the business administration major has the highest student enrollment with over 370 students. The Operations Management and Financial Services majors had 15 majors total in 2010 and have grown considerably over the last 5 years. Also, during the review period, positive growth was observed for Marketing ( 29%), Business Education ( 29%), Finance ( 27%), Accounting ( 15%), Business Administration ( 14%), and Management ( 12%). Overall, Table 4.2 below reveals continued strong accounting enrollments and relatively large programs in management and marketing. A strategic goal for the college is to build new programs to add to the college s distinctiveness in the market. Opportunities exist in management to build programs of distinction for the college and perhaps the university. Recent strategic planning sessions have targeted entrepreneurship and health analytics as potential new markets to be served in management. Marketing has grown its sales concentration to an area of strength over the review period. The sales concentration area currently has a faculty vacancy, and Dr. Hawes, a distinguished professor in sales, is entering into the twilight of his career. Continued efforts are needed to maintain Sales as a strength for the Scott College of Business. 19