Strategic Plan of the Arthur J. Bauernfeind College of Business

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2 Strategic Plan of the Arthur J. Bauernfeind College of Business Consonant with the Strategic Plan of Murray State University, the parent Institution Preamble: This Strategic Plan is our directional blueprint to guide our thoughts, actions, and progress toward sustaining the Arthur J. Bauernfeind College of Business as a leading AACSB, ACEJMC and SACS accredited business school that is well positioned for the multifaceted global education challenges of the 21 st Century. It is informed by broad-based stakeholder participation involving faculty, students, advisory boards, and alumni. Our point of departure is a recognition and wholehearted acceptance of the overarching MSU criteria and ethos of Achievement, Endeavor and Hope, which our College will achieve with academic excellence, student success, scholarly endeavors, outreach and engagement, and innovation and impact. Goal 1 Enhancement of Curricula and Learning [Nexus: MSU s Strategic Initiative #1]: The College will provide intellectually challenging, responsive, and up-to-date curricula in an innovative learning environment to prepare students for competitive and successful global careers. Objective 1.1 Develop and evaluate Curricula Learning Goals and Assessment Processes for all AACSB- International, ACEJMC, and SACS accredited programs= All Programs in the College. Action Steps [AS] Relevant KPIs Responsibility AS1 Update and Revise Academic Program Curricula, as appropriate, to enhance Rigor and Relevance Chairs, Faculty AS 2 Define and communicate Course Learning Objectives and Program Learning Goals to key stakeholders Chairs, Faculty including Students via Course Syllabi, Program sheets, Department and Collegiate websites AS 3 Continuously gather assessment (assurance of learning) data in all programs and analyze and use results to Close the Loop as part of Continuous Improvement in Student Learning Objective 1.2 Provide atmosphere for high quality teaching, student learning, and Faculty-Student Interaction AS 1 Support a learning environment conducive to student success AS 2 Determine and utilize effective teaching methods, including technology-driven online instruction AS 3 Support and acknowledge quality teaching and instructional innovation through Outstanding Teacher Recognition Awards (OTRAs) Objective 1.3 Incorporate emerging industry-relevant topics in Curricula AS 1 Integrate diversity, global, sustainability, and data analytics issues into the curriculum as appropriate AS 2 Provide students with opportunities for Education-Abroad Experiences Key Guide: AE Academic Excellence SI Strategic Initiative SS Student Success AS Action Step or Strategy detailed plans and activities directed toward achieving our College Objectives G Goals Major Long-term aims of the College ICS Intellectual Contributions O Objectives Specific, measurable short-term/annual achievement targets that further define each Goal KPI Key Performance Indicators that demonstrative progress towards achieving goals and objectives Page 2 of 6 6 Departmental OTRAs, One MSU Award Assessment Committees, Chairs Chairs, Faculty Faculty, Chairs Faculty, Chairs

3 Goal 2 Enhancement of Faculty and Staff [Nexus: MSU s Strategic Initiative #1, Objective #3]: Enhance efforts to Recruit, Develop, Retain and Engage high quality and Diverse* Faculty and Staff Objective 2.1 Recruit, Develop, and Retain a diverse faculty and staff Relevant KPIs Responsibility AS 1 Increase the percentage of African-American Faculty from 4% in % of all Faculty will be African- American by 2022 AS 2 Increase the percentage of Female Faculty members from 30% in % of Faculty will be Female by 2022 Chairs, Dean AS 3 Seek additional incentive funds for hiring minority faculty AS 4 Develop and retain high quality faculty and staff through Departmental, College, and MSU-based Programs. 90% of Tenure-Track and Tenured Faculty will Engage in at least one Scholarly activity Annually [MSU Strategic Initiative #3, Objective 1] (a) Faculty : 90% of fulltime Faculty each year (b) Staff : 100% of full- AS 5 New Named and Endowed Professorships: Use the next MSU comprehensive Capital Campaign to fund 4 new Endowed Professorships: (a) One in JMC (b) One in Computer Science and Information Systems (c) One in Organizational Communication, and (d) One in Management. This will complement existing Named Professorships, including: The David Dill Professor of Accounting; The Hutchens Professor of Marketing, and The Bauernfeind Professor of Finance. The College also has a Distinguished University Professor in Economics AS 6 Seek a New Faculty Line in Computer Information Systems in line with unprecedented enrollment growth in the Master of Science in Information Systems (MSIS) Objective 2.2 Increase the quality and number of publications in blind peer reviewed journals (PRJs) as part of overall intellectual contributions in the areas of basic, applied, and pedagogical scholarship time Staff every 5 Years (a) One of the 4 Endowed Professorships will be awarded to a Female Faculty Member (b) One of the 4 Endowed Professorships will be awarded to an African-American Faculty Member, College Officer New Faculty Line in Information Systems by Fall 2017 Dean, Chair, Provost At least 60% of all significant Chairs, publications per year will be in PRJs Faculty AS 1 Increase terminally-degreed faculty to 84% in line with the MSU 2022 Plan 84% Terminal Degreed by 2016/2017 AS 2 Introduce the Enhanced Scholarly Activity Framework (ESAF) to enhance scholarly activity in the ESAF Committee in Place by Fall 2015,, College. A separate document explains the rationales and awards under the ESAF. all ESAF Awards to be made in August ESAF 2016 Committee AS 3 Faculty in the College will endeavor to win Best Paper Awards and Regional, National and At least 5 Faculty Best Paper Awards at Faculty International Conferences Conferences, Annually AS 4 Revise the Intellectual Contributions Manual to include Tiered Journal Lists from All Departments New ICs Manual by Fall 2016 Objective 2.3 Enhance the academic and/or professional qualifications of faculty AS 1 Encourage and support appropriate faculty and staff to obtain the terminal degree Chairs, Dean AS 2 AACSB Faculty: At least 60% of Participating Faculty will maintain Scholarly Academic (SA) Annually, at least 90% of AACSB Designation, equivalent of the former Academically Qualified (AQ) designation. A further 30% will Faculty will be Scholarly Academics AACSB either be Practice Academics (PA), Scholarly Practitioners (SP), or Instructional Practitioners (IP) in (SA), Practice Academics (PA), Faculty order to meet the AACSB threshold of 90% for the College Scholarly Practitioners (SP), or Instructional Practitioners (IP). AS 3 Support faculty involvement in global scholarship and instruction Ex: Proposed Italy MBA Page 3 of 6

4 Goal 3 Enhancement of Students [Nexus: MSU s Strategic Initiative #2]: The College will attract, retain, and graduate diverse students who will serve as thought-provoking civic, educational and workforce leaders by blending services, curricular and co-curricular activities consistent with our Mission Objective 3.1 Recruit and graduate a Diverse Student Population Action Steps Relevant KPIs Responsibility AS 1 Increase annual undergraduate scholarship awards from a high of $229,122 in 2013 to $300,000 by Fall Also, increase the number of students receiving scholarships from a high of 277 in 2014 to at least 300 by Fall [From 2011 to 2014, some $755,571 was awarded to 921 students, averaging $820 per student] By Fall 2017, at least 300 students will be awarded at least $1,000 annually Chairs, Dean AS 2 Engage in broad-based outreach involving High Schools and Community Colleges to promote Business Chairs, Faculty, Programs and recruit diverse students CUBA Director AS 3 Increase the percentage of African-American students from the current 7.3% to at least 12% by % of students will be Faculty, Chairs African American by 2022 AS 4 Annually, at least one of the Graduate Minority Fellowships at MSU will go to a student in our College At least One Fellowship Objective 3.2 Increase the quality of students entering undergraduate and master s programs AS 1 Maintain College Enrollments at some 20% of MSU totals: Largest or Second Largest College Annually Largest or Second Largest, AS 2: Departmental Advisory Boards: Reactivate and revitalize Advisory Boards in the following departments to help with advice on industry best practices, student recruitment, internships, and job placement: (a) Organizational Communication (b) JMC (c) MMBA Objective 3.3 Improve retention and graduation efforts for undergraduate and graduate students AS 1 Provide supporting resources to the Center for Undergraduate Business Advising (CUBA) and the Coordinator of Undergraduate Online and Extended Campus Programs AS 2 Improve the current College Student-Faculty Ratio of 22:1 to the MSU Plan target of 17 to 1 or less to enhance effective Student-Faculty Interaction Objective 3.4 Enhance Career Preparation and Job placement AS 1 Recruit a College Coordinator for Career and Regional Engagement who will be in charge of: Career and Job Placement, Student Internships, Experiential and Education-Abroad Activities for the College College at MSU All 6 Departments will have Functioning Advisory Boards by Spring to 1 Student-Faculty Ratio by 2022 Hire Coordinator of Career and Regional Engagement by Fall 2018 Faculty Chairs Dean + Associate Dean AS 2 Increase the number of Business students involved in Education Abroad Programs from 19% of all MSU Chairs, Proposed students from to at least 25% per Year Career Coordinator Objective 3.5 Enhance high-quality curricular, co-curricular, and experiential learning experiences: MSU s Strategic Initiative 1, Objective #2] AS 1 Increase service learning opportunities and internships in all applicable academic disciplines by 10% 10% Increase in 2015/2016 Chairs, Faculty AS 2 Increase student involvement by 10% in Scholar s Week, maintain student participation in Posters-at-the- Capitol and increase student involvement in other undergraduate research opportunities 10% Increase in 2015/2016 Chairs, Faculty AS 3 Continue multi-pronged approaches to reduce cases of Student Academic Dishonesty in the College Reduce by 20% the # of Associate Dean, dishonesty cases from some Faculty, Chairs 40 per year Page 4 of 6

5 Goal 4 Enhancement of External Relations and Recognition [Nexus: MSU s Strategic Initiative #4]: The College will enhance Engagement, Communication and Relationships with External Stakeholders, and maintain National and International Accreditations Objective 4.1 Maintain AACSB-International, ACEJMC, and SACS accreditations Relevant KPIs Responsibility AS 1 Maintain currency with AACSB, ACEJMC and SACS accreditation standards (a) Achieve ACEJMC Accreditation in Fall 2015, (b) Achieve AACSB Accreditation in 2017/2018 Faculty AS 2 Maintain broad faculty and staff participation in overall Strategic Planning and accreditation processes Objective 4.2 Community Engagement and Outreach Enhance external relationships through Community, Regional, National and Global Service activities as part of Broadbased Outreach Initiatives AS 1 The KY Innovation Network Office will assist at least 50 new clients each year to develop prototypes, form companies and expand existing companies. These companies will ultimately create revenue, jobs and wealth in the region. The Office will engage local community leaders and organizations in building an entrepreneurial eco-system in each community and region AS 2 During the 7-year Plan, engage a minimum of 100 Murray State students in experiential learning activities relating to innovation and entrepreneurship through a new 3D printer learning lab on campus, participation in the Idea State U statewide business plan competition for college students and assistance in creating and running real businesses owned by students At least 50% of full-time faculty will be involved in the Strategic Plan and the ESAF Initiative, as appropriate. Faculty, Chairs 50 New Clients Annually Director. KY Innovation Network 100 Students involved in Experiential Learning in innovation and entrepreneurship between 2015 and 2022 Director. Innovation Network KY AS 3 Deliver high-quality, hands-on and in-depth planning, consulting and training services to at least 40 existing and pre-venture small business owners each year AS 4 Enhance loan and equity funding for Small Business owners in the 24-county area AS 5 The Center for Economic Education will engage K-12 Teachers in western KY via appropriate Professional Activities AS 6 Engage and educate K-12 Students in western KY in economic and financial literacy fundamentals Page 5 of 6 Training of at least 40 small business owners in the service region, each Year Raise at least $5 million annually in capital infusion, including SBA and Non-SBA loans At least 260 K-12 Teachers will be trained in Economics and other fundamentals each Year At least 1,000 such students will be trained each Year Director, SBDC Director, SBDC Director, Center for Econ Educ Director, Center for Econ Educ AS 7 Support the Volunteer Income Tax Assistance (VITA) Program in the Department of Accounting Prepare at least 150 Federal and Local Tax Returns Annually Accounting Faculty Objective 4.3 a new and Robust Marketing and Branding Strategy for the Arthur Form a Faculty and Student Task Force in Fall Dean, MMBA J. Bauernfeind College of Business, consistent with overall MSU Branding Plan 2015 from JMC and MMBA Departments to and JMC Chairs, produce Branding and Social Media Strategy Faculty and Selected Students AS 1 New Marketing and Branding Strategy for the College Ditto Ditto AS 2 Broad-based Social Media Strategy for Student Recruitment and Retention Ditto Ditto

6 Goal 5 Enhancement of Supporting Resources [Nexus: MSU s Strategic Initiative #1, Objective #4]: The College will enhance its Infrastructure and Financial Resources Objective 5.1 Provide the physical infrastructure for teaching/learning, research, and service Action Steps Relevant KPIs Responsibility AS 1 As MSU enters its next comprehensive capital campaign, a critical goal of the Bauernfeind College of Business will be to strive to continue to partner with the Office of to identify and cultivate major Raise at least $1.5 Million Annually in Private Funds Officer donor prospects with the goal of securing vital private financial resources to enrich the excellence of our students and to support the research and scholarly pursuits of our faculty and staff AS 2 Continuously Upgrade classroom infrastructure (including furniture, lighting, windows) Chairs, Dean AS 3 Secure funding to upgrade electrical, locks and security systems in Business buildings and Wilson Hall AS 4 Continue to seek State/MSU/Alumni funding for an entirely new building for the College $60 Million New Business, Building by 2030 AS 5Enhance our technological infrastructure to support teaching, research, and service AS 6 Upgrade computing Capacity for Students, Faculty, and Staff Objective 5.2 Increase the overall Financial Resources of the College AS 1 Build endowments within the College at the rate of 5% over the previous fiscal year AS 2 Generate revenues from special programs: off-shore graduate programs, Online Programs, the Accelerated MBA, the Accelerated Graduate Program in Organizational Communication Endowments of $16 Million by 2022 At least $600,000 to be Raised Annually Jack Smith and Orville Herndon Officer, Dean, Chairs, Center Directors Page 6 of 6